Carolina Power & Light Company
STATEMENTS OF CASH FLOWS
(In thousands) Three Months Ended Twelve Months Ended
December 31 December 31
1994 1993 1994 1993
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Operating Activities
Net income..................................................... $ 45,875 $ 63,872 $ 313,167 $ 346,496
Adjustments to reconcile net income to net cash provided by
operating activities
Depreciation and amortization.............................. 110,308 124,552 473,481 460,094
Harris Plant deferred costs................................ 4,370 (4,595) 16,575 432
Harris Plant disallowance - Power Agency................... - - - 20,645
Deferred income taxes...................................... 42,011 37,762 37,240 71,352
Investment tax credit adjustments.......................... (2,884) (2,958) (11,537) (12,806)
Allowance for equity funds used during construction........ (313) (2,568) (6,074) (8,999)
Deferred fuel cost (credit)................................ 17,760 (6,446) 38,171 27,364
Net (increase) decrease in receivables, inventories and
prepaid expenses....................................... (23,823) 69,171 (73,891) (7,803)
Net decrease in payables and accrued expenses.............. (50,207) (49,374) (51,441) (62,013)
Miscellaneous.............................................. (23,364) (16,949) (4,935) 10,882
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Net Cash Provided by Operating Activities................ 119,733 212,467 730,756 845,644
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Investing Activities
Gross property additions....................................... (82,901) (110,732) (274,777) (341,122)
Nuclear fuel additions......................................... (10,527) (19,512) (25,849) (48,001)
Contributions to external decommissioning trust................ (3,164) (9,792) (21,625) (20,878)
Contributions to retiree benefit trusts........................ - (1,250) (18,917) (3,750)
Loan transactions with SPSP Trustee, net (Note 4).............. - 9,125 - 21,134
Allowance for equity funds used during construction............ 313 2,568 6,074 8,999
Miscellaneous.................................................. (6,094) - (6,094) -
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Net Cash Used in Investing Activities.................... (102,373) (129,593) (341,188) (383,618)
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Financing Activities
Proceeds from issuance of long-term debt....................... 49,886 44,761 318,211 582,030
Net decrease in pollution control bond escrow.................. - - - 2,127
Net increase (decrease) in short-term notes
payable (maturity less than 90 days)........................ 53,100 71,000 (7,900) 29,200
Retirement of long-term debt................................... (3) (268,593) (268,380) (790,376)
Purchase of Company common stock (Note 5)...................... (23,315) - (110,047) -
Dividends paid on common stock (Note 4)........................ (62,808) (65,043) (255,206) (262,749)
Dividends paid on preferred stock.............................. (2,400) (2,268) (9,614) (9,474)
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Net Cash Provided by (Used in) Financing Activities...... 14,460 (220,143) (332,936) (449,242)
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Net Increase (Decrease) in Cash and Cash Equivalents............. 31,820 (137,269) 56,632 12,784
Cash and Cash Equivalents at Beginning of the Period............. 48,419 160,876 23,607 10,823
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Cash and Cash Equivalents at End of the Period................... $ 80,239 $ 23,607 $ 80,239 $ 23,607
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Supplemental Disclosures of Cash Flow Information
Cash paid during the period - interest........................... $ 40,405 $ 51,641 $ 188,754 $ 218,801
income taxes....................... 105,298 42,878 180,759 113,523
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See Supplemental Data and Notes to Financial Statements.