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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from or used in operating activities      
Net income $ 466 $ 540 $ 446
Adjustments to reconcile net income to cash from operating activities:      
Depreciation and amortization 422 436 430
Deferred income taxes and investment tax credits (22) 137 28
Allowance for equity funds used during construction (19) (35) (45)
Deferred recovery clauses 415 (422) (58)
Regulatory assets and liabilities 116 (100) (10)
Pension and post-retirement asset and liabilities (23) (18) (10)
Other 14 (1) 23
Changes in working capital:      
Receivables, less allowance for credit losses (44) (45) (32)
Inventories (39) (41) (8)
Taxes accrued 12 (23) (13)
Accounts payable (56) 75 53
Other (1) 8 (7)
Cash flows from operating activities 1,241 511 797
Cash flows from or used in investing activities      
Capital expenditures (1,294) (1,427) (1,397)
Net proceeds from sale of assets 0 10 0
Cash flows used in investing activities (1,294) (1,417) (1,397)
Cash flows from or used in financing activities      
Equity contributions from Parent 300 605 580
Dividends to Parent (472) (517) (450)
Proceeds from long-term debt issuance 0 595 790
Repayment of long-term debt 0 (250) (279)
Advances to affiliate (227) 0 0
Repayment of advances to affiliate 956 0 0
Advances from Parent 0 195 0
Repayment of advances from Parent (195) 0 0
Net change in short-term debt (maturities of 90 days or less) 87 374 (230)
Proceeds from other short-term debt (maturities over 90 days) 400 400 500
Repayment of other short-term debt (maturities over 90 days) (800) (500) (300)
Other financing activities (1) 0 (3)
Cash flows from financing activities 48 902 608
Net increase (decrease) in cash and cash equivalents (5) (4) 8
Cash and cash equivalents at beginning of the year 10    
Cash and cash equivalents at beginning of the year 14 18 10
Cash and cash equivalents at end of the year 5 14 18
Supplemental disclosure of cash paid (received):      
Interest 233 152 120
Income taxes 102 2 62
Supplemental disclosure of non-cash activities      
Change in accrued capital expenditures 20 (6) 25
Reclassification of short-term debt to long-term debt 497 0 0
Change in note receivable from PGS $ (736) $ 0 $ 0