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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income $ 1,524.3 $ 1,331.7 $ 1,409.7
Reconciliation to cash provided by operating activities      
Depreciation and amortization 1,354.5 1,264.2 1,122.6
Deferred income taxes and ITCs, net 529.0 219.4 280.1
Impairment related to ICC disallowances 12.1 178.9 0.0
Contributions and payments related to pension and OPEB plans (14.5) (16.7) (15.1)
Equity income in transmission affiliates, net of distributions (57.4) (33.0) (74.3)
Net change in transmission regulatory assets and liabilities (22.8) 19.8 (85.8)
Net loss (gain) on disposition of assets 0.7 (23.8) (66.2)
Change in -      
Accounts receivable and unbilled revenues, net (161.5) 340.6 (342.1)
Materials, supplies, and inventories (38.0) 41.9 (171.3)
Collateral on deposit 84.3 22.1 (108.1)
Other current assets (75.4) 36.3 32.3
Accounts payable 99.7 (254.0) 121.5
Other current liabilities 11.6 47.5 126.9
Other, net (34.8) (156.5) (169.5)
Net cash provided by operating activities 3,211.8 3,018.4 2,060.7
Investing activities      
Capital expenditures (2,781.1) (2,492.9) (2,314.9)
Acquisition of Delilah I, net of cash acquired of $0.6 (462.5) 0.0 0.0
Acquisition of Maple Flats, net of cash acquired of $0.5 (431.2) 0.0 0.0
Acquisition of West Riverside (97.9) (95.3) 0.0
Acquisition of Red Barn (2.1) (143.8) 0.0
Acquisition of Whitewater 0.0 (76.0) 0.0
Acquisition of Sapphire Sky, net of cash acquired of $0.3 0.0 (442.6) 0.0
Acquisition of Samson I, net of cash acquired of $5.2 0.0 (257.3) 0.0
Acquisition of Thunderhead, net of cash acquired of $0.5 0.0 0.0 (382.0)
Capital contributions to transmission affiliates (45.5) (63.7) (45.5)
Proceeds from the sale of assets 1.7 32.8 69.0
Insurance proceeds received for property damage 6.0 2.5 41.6
Other, net 10.1 (21.9) (10.6)
Net cash used in investing activities (3,802.5) (3,558.2) (2,642.4)
Financing activities      
Exercise of stock options 23.7 6.3 33.6
Issuance of common stock, net 163.4 0.0 0.0
Purchase of common stock (3.2) (16.6) (69.2)
Dividends paid on common stock (1,056.2) (984.2) (917.9)
Issuance of long-term debt 4,460.9 2,170.0 1,999.3
Retirement of long-term debt (2,138.0) (1,005.4) (92.1)
Change in commercial paper (902.8) 373.7 (252.6)
Purchase of additional ownership interest in Samson I from noncontrolling interest (28.1) 0.0 0.0
Payments for debt extinguishment and issuance costs (45.9) (14.2) (15.6)
Other, net (6.1) (6.8) (9.1)
Net cash provided by financing activities 467.7 522.8 676.4
Net change in cash, cash equivalents, and restricted cash (123.0) (17.0) 94.7
Cash, cash equivalents, and restricted cash at beginning of year 165.2 182.2 87.5
Cash, cash equivalents, and restricted cash at end of year $ 42.2 $ 165.2 $ 182.2