Carolina Power & Light Company
STATEMENTS OF CASH FLOWS
(In thousands) Three Months Ended Twelve Months Ended
March 31 March 31
1995 1994 1995 1994
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Operating Activities
Net income $ 98,033 $ 88,824 $ 322,376 $ 341,322
Adjustments to reconcile net income to net cash
provided by operating activities
Depreciation and amortization 115,061 119,467 469,075 466,632
Harris Plant deferred costs 4,386 3,915 17,046 736
Harris Plant disallowance - Power Agency - - - 20,645
Deferred income taxes (11,579) (8,821) 34,482 52,706
Investment tax credit adjustments (2,553) (2,884) (11,207) (12,797)
Allowance for equity funds used during construction (913) (2,263) (4,724) (9,597)
Deferred fuel cost (credit) 22,475 (2,251) 62,897 26,370
Net (increase) decrease in receivables, inventories
and prepaid expenses (43,392) (23,083) (94,200) 2,952
Net increase (decrease) in payables and accrued
expenses (16,376) 7,157 (70,304) (4,013)
Miscellaneous 11,919 19,621 (12,636) 11,036
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Net Cash Provided by Operating Activities 177,061 199,682 712,805 895,992
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Investing Activities
Gross property additions (71,928) (72,313) (274,392) (331,824)
Nuclear fuel additions (15,868) (11,216) (30,501) (53,287)
Contributions to external decommissioning trust (18,504) (6,328) (33,801) (23,539)
Contributions to retiree benefit trusts (2,400) (18,917) (2,400) (22,667)
Loan transactions with SPSP Trustee, net - - - 19,769
Allowance for equity funds used during construction 913 2,263 4,724 9,597
Miscellaneous (487) - (6,581) -
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Net Cash Used in Investing Activities (108,274) (106,511) (342,951) (401,951)
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Financing Activities
Proceeds from issuance of long-term debt 59,731 147,986 229,956 434,765
Net decrease in pollution control bond escrow - - - 1,800
Net increase (decrease) in short-term notes
payable (maturity less than 90 days) 27,400 (69,300) 88,800 6,700
Retirement of long-term debt (125,045) (95,623) (297,802) (803,148)
Purchase of Company common stock (Note 4) (4,178) - (118,895) -
Dividends paid on common stock (64,656) (63,986) (255,876) (260,833)
Dividends paid on preferred stock (2,420) (2,411) (9,623) (9,483)
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Net Cash Used in Financing Activities (109,168) (83,334) (363,440) (630,199)
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Net Increase (Decrease) in Cash and Cash Equivalents (40,381) 9,837 6,414 (136,158)
Cash and Cash Equivalents at Beginning of the Period 80,239 23,607 33,444 169,602
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Cash and Cash Equivalents at End of the Period $ 39,858 $ 33,444 $ 39,858 $ 33,444
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Supplemental Disclosures of Cash Flow Information
Cash paid during the period - interest $ 54,694 $ 52,247 $ 191,201 $ 215,151
income taxes 1,611 2,050 180,320 115,861
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See Supplemental Data and Notes to Financial Statements.