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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net income $ 706 $ 708
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 1,202 1,210
Nuclear fuel amortization 53 61
Deferred income taxes (192) (135)
Allowance for equity funds used during construction (37) (33)
Earnings from equity method investments (20) (26)
Dividends from equity method investments 18 20
Provision for bad debts 36 30
Share-based compensation expense 12 14
Changes in operating assets and liabilities:    
Accounts receivable 225 (97)
Accrued unbilled revenues 364 70
Inventories 100 (44)
Other current assets 39 26
Accounts payable (443) 137
Net regulatory assets and liabilities 569 213
Other current liabilities (74) (134)
Pension and other employee benefit obligations (37) (32)
Other, net (66) 0
Net cash provided by operating activities 2,455 1,988
Investing activities    
Capital/construction expenditures (2,599) (2,040)
Purchase of investment securities (416) (787)
Proceeds from the sale of investment securities 399 769
Other, net (23) 3
Net cash used in investing activities (2,639) (2,055)
Financing activities    
Repayments of short-term borrowings, net (269) (869)
Proceeds from issuances of long-term debt 1,741 2,066
Repayments of long-term debt, including reacquisition premiums (650) (600)
Proceeds from issuance of common stock 75 151
Dividends paid (536) (497)
Other, net (13) (15)
Net cash provided by financing activities 348 236
Net change in cash, cash equivalents and restricted cash 164 169
Cash, cash equivalents and restricted cash at beginning of period 111 166
Cash, cash equivalents and restricted cash at end of period 275 335
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amounts capitalized) (461) (425)
Cash paid for income taxes, net (49) (9)
Supplemental disclosure of non-cash investing and financing transactions:    
Accrued property, plant and equipment additions 497 401
Inventory transfers to property, plant and equipment 78 30
Operating lease right-of-use assets 50 15
Allowance for equity funds used during construction 37 33
Issuance of common stock for reinvested dividends and/or equity awards $ 32 $ 27