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EVERSOURCE ENERGY AND SUBSIDIARIES |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
(Unaudited) | | | | | |
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| | | For the Nine Months Ended September 30, |
(Thousands of Dollars) | 2015 | | 2014 |
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Operating Activities: | | | | | |
| Net Income | $ | 702,319 | | $ | 603,576 |
| Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | | | | | |
| | Depreciation | | 495,389 | | | 456,224 |
| | Deferred Income Taxes | | 153,353 | | | 64,755 |
| | Pension, SERP and PBOP Expense | | 71,802 | | | 74,296 |
| | Pension and PBOP Contributions | | (162,880) | | | (74,681) |
| | Regulatory Overrecoveries, Net | | 31,874 | | | 290,111 |
| | Amortization of Regulatory Assets, Net | | 42,587 | | | 31,826 |
| | Proceeds from DOE Damages Claim, Net | | - | | | 132,138 |
| | Other | | (49,548) | | | (17,096) |
| Changes in Current Assets and Liabilities: | | | | | |
| | Receivables and Unbilled Revenues, Net | | (148,442) | | | (66,463) |
| | Fuel, Materials and Supplies | | 47,380 | | | (27,147) |
| | Taxes Receivable/Accrued, Net | | 383,047 | | | 26,533 |
| | Accounts Payable | | (233,660) | | | (69,448) |
| | Other Current Assets and Liabilities, Net | | 8,370 | | | (20,607) |
Net Cash Flows Provided by Operating Activities | | 1,341,591 | | | 1,404,017 |
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Investing Activities: | | | | | |
| Investments in Property, Plant and Equipment | | (1,177,285) | | | (1,117,493) |
| Proceeds from Sales of Marketable Securities | | 556,582 | | | 388,352 |
| Purchases of Marketable Securities | | (535,044) | | | (389,406) |
| Other Investing Activities | | (2,769) | | | (4,669) |
Net Cash Flows Used in Investing Activities | | (1,158,516) | | | (1,123,216) |
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Financing Activities: | | | | | |
| Cash Dividends on Common Shares | | (397,363) | | | (356,080) |
| Cash Dividends on Preferred Stock | | (5,639) | | | (5,639) |
| (Decrease)/Increase in Notes Payable | | (387,575) | | | 6,000 |
| Issuance of Long-Term Debt | | 825,000 | | | 650,000 |
| Retirements of Long-Term Debt | | (216,700) | | | (576,650) |
| Other Financing Activities | | (3,720) | | | (90) |
Net Cash Flows Used in Financing Activities | | (185,997) | | | (282,459) |
Net Decrease in Cash and Cash Equivalents | | (2,922) | | | (1,658) |
Cash and Cash Equivalents - Beginning of Period | | 38,703 | | | 43,364 |
Cash and Cash Equivalents - End of Period | $ | 35,781 | | $ | 41,706 |
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The data contained in this report is preliminary and is unaudited. This report is being submitted for the sole purpose of providing information to present shareholders about Eversource Energy and Subsidiaries and is not a representation, prospectus, or intended for use in connection with any purchase or sale of securities. |
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