Carolina Power & Light Company
STATEMENTS OF CASH FLOWS
(In thousands) Three Months Ended Twelve Months Ended
March 31 March 31
1994 1993 1994 1993
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Operating Activities
Net income............................................... $ 88,824 $ 93,998 $ 341,322 $ 379,393
Adjustments to reconcile net income to net cash
provided by operating activities
Depreciation and amortization.......................... 123,641 112,929 470,806 428,983
Harris Plant deferred costs............................ 3,915 3,611 736 (6,606)
Harris Plant disallowance - Power Agency............... - - 20,645 -
Deferred income taxes.................................. (8,821) 9,825 52,706 102,316
Investment tax credit adjustments...................... (2,884) (2,894) (12,797) (11,086)
Allowance for equity funds used during construction.... (2,263) (1,665) (9,597) (8,186)
Deferred fuel cost (credit)............................ (2,251) (1,257) 26,370 (61,887)
Uncollectible accounts expense......................... 818 805 4,955 3,759
Net (increase) decrease in receivables, inventories
and prepaid expenses................................. (23,901) (34,643) (2,003) (90,627)
Net increase (decrease) in payables and accrued
expenses............................................. 7,157 (50,843) (4,013) 2,989
Miscellaneous.......................................... 16,705 19,468 8,120 (31,182)
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Net Cash Provided by Operating Activities............. 200,940 149,334 897,250 707,866
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Investing Activities
Gross property additions................................. (72,313) (81,611) (331,824) (283,201)
Nuclear fuel additions................................... (15,391) (5,930) (57,462) (58,341)
Contributions to external decommissioning trust.......... (6,328) (3,667) (23,539) (14,756)
Contributions to retiree benefit trusts.................. (16,000) - (19,750) (6,667)
Loan transactions with SPSP Trustee, net (Note 2)........ - 1,365 19,769 29,505
Allowance for equity funds used during construction...... 2,263 1,665 9,597 8,186
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Net Cash Used in Investing Activities................. (107,769) (88,178) (403,209) (325,274)
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Financing Activities
Proceeds from issuance of long-term debt................. 147,986 295,251 434,765 844,628
Net decrease in pollution control bond escrow............ - 327 1,800 9,116
Net increase (decrease) in short-term notes
payable (maturity less than 90 days)................... (69,300) (46,800) 6,700 (112,200)
Retirement of long-term debt............................. (95,623) (82,851) (803,148) (560,152)
Retirement of preferred stock............................ - - - (134,625)
Dividends paid on common stock (Note 2).................. (63,986) (65,902) (260,833) (256,375)
Dividends paid on preferred stock........................ (2,411) (2,402) (9,483) (16,849)
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Net Cash Provided by (Used in) Financing Activities... (83,334) 97,623 (630,199) (226,457)
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Net Increase (Decrease) in Cash and Cash Equivalents....... 9,837 158,779 (136,158) 156,135
Cash and Cash Equivalents at Beginning of the Period....... 23,607 10,823 169,602 13,467
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Cash and Cash Equivalents at End of the Period............. $ 33,444 $ 169,602 $ 33,444 $ 169,602
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Supplemental Disclosures of Cash Flow Information
Cash paid during the period - interest................... $ 52,247 $ 55,897 $ 215,151 $ 226,148
income taxes............... 2,050 (288) 115,861 94,943
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See Supplemental Data and Notes to Financial Statements.