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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 968.5 $ 832.6
Reconciliation to cash provided by operating activities    
Depreciation and amortization 728.8 670.0
Deferred income taxes and ITCs, net 220.0 321.5
Contributions and payments related to pension and OPEB plans (7.1) (7.5)
Equity income in transmission affiliates, net of distributions (3.4) (19.6)
Change in –    
Accounts receivable and unbilled revenues, net 136.4 254.2
Materials, supplies, and inventories 110.2 79.4
Other current assets 65.4 49.5
Accounts payable (172.1) (90.3)
Customer credit balances (38.4) (57.4)
Other current liabilities (6.4) (53.1)
Other, net 14.0 (78.3)
Net cash provided by operating activities 2,015.9 1,901.0
Investing activities    
Capital expenditures (1,530.5) (1,138.4)
Acquisition of Hardin III, net of cash acquired of $0.2 (406.1) 0.0
Acquisition of West Riverside 0.0 (98.2)
Capital contributions to transmission affiliates (87.8) (30.3)
Proceeds from the sale of investments held in rabbi trust 16.9 14.8
Reimbursement for ATC's transmission infrastructure upgrades 39.7 6.2
Other, net (5.0) (4.9)
Net cash used in investing activities (1,972.8) (1,250.8)
Financing activities    
Exercise of stock options 24.7 4.7
Issuance of common stock, net 398.8 38.2
Purchase of common stock (1.3) (3.2)
Dividends paid on common stock (568.7) (527.2)
Issuance of long-term debt 1,025.0 2,074.2
Retirement of long-term debt (567.6) (785.4)
Change in commercial paper (308.0) (1,260.4)
Purchase of additional ownership interest in Samson I from noncontrolling interest 0.0 (28.1)
Payments for debt extinguishment and issuance costs (16.7) (23.6)
Other, net (2.3) (1.7)
Net cash used in financing activities (16.1) (512.5)
Net change in cash, cash equivalents, and restricted cash 27.0 137.7
Cash, cash equivalents, and restricted cash at beginning of period 42.2 165.2
Cash, cash equivalents, and restricted cash at end of period $ 69.2 $ 302.9