Carolina Power & Light Company
STATEMENTS OF CASH FLOWS
(In thousands) Three Months Ended Nine Months Ended Twelve Months Ended
September 30 September 30 September 30
1996 1995 1996 1995 1996 1995
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Operating Activities
Net income $ 129,159 $ 151,905 $ 310,161 $ 305,900 $ 376,865 $ 351,775
Adjustments to reconcile net income to net cash
provided by operating activities
Depreciation and amortization 114,076 111,958 342,359 334,706 454,317 445,012
Harris Plant deferred costs 6,282 5,147 14,313 14,583 19,561 18,953
Deferred income taxes (9,023) 12,499 18,242 4,988 102,934 46,999
Investment tax credit adjustments (2,611) (2,553) (7,834) (7,658) (9,520) (10,542)
Allowance for equity funds used during construction (4) (774) (2,226) (2,671) (2,905) (2,984)
Deferred fuel cost (credit) (8,806) (8,683) (18,742) 7,117 (26,707) 24,876
Net (increase) decrease in receivables, inventories
and prepaid expenses 17,133 5,147 (18,152) (73,818) (22,183) (97,641)
Net increase (decrease) in payables and accrued
expenses 103,497 37,425 114,184 30,622 43,969 (14,915)
Miscellaneous 53,496 7,300 79,730 34,526 80,827 11,168
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Net Cash Provided by Operating Activities 403,199 319,371 832,035 648,295 1,017,158 772,701
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Investing Activities
Gross property additions (80,480) (52,629) (249,980) (191,361) (325,017) (274,262)
Nuclear fuel additions (28,705) (31,933) (64,603) (67,243) (74,705) (77,771)
Contributions to external decommissioning trust (7,515) (6,899) (25,535) (33,515) (30,095) (36,679)
Contributions to retiree benefit trusts - - (24,700) (2,400) (24,700) (2,400)
Allowance for equity funds used during construction 4 774 2,226 2,671 2,905 2,984
Miscellaneous (4,919) (5,212) (23,485) (21,734) (30,265) (27,829)
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Net Cash Used in Investing Activities (121,615) (95,899) (386,077) (313,582) (481,877) (415,957)
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Financing Activities
Proceeds from issuance of long-term debt - - 276,257 180,670 276,300 230,556
Net increase (decrease) in short-term notes
payable (maturity less than 90 days) (77,109) (65,700) 3,640 (51,100) 60,383 2,000
Retirement of long-term debt (106,613) (25,000) (498,088) (252,095) (522,137) (252,098)
Purchase of Company common stock (Note 3) (14,472) (67,403) (21,068) (75,396) (78,111) (103,381)
Dividends paid on common stock (65,419) (64,702) (195,965) (194,941) (258,960) (257,750)
Dividends paid on preferred stock (2,399) (2,399) (7,203) (7,222) (9,604) (9,622)
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Net Cash Used in Financing Activities (266,012) (225,204) (442,427) (400,084) (532,129) (390,295)
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Net Increase (Decrease) in Cash and Cash Equivalents 15,572 (1,732) 3,531 (65,371) 3,152 (33,551)
Cash and Cash Equivalents at Beginning of the Period 2,448 16,600 14,489 80,239 14,868 48,419
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Cash and Cash Equivalents at End of the Period $ 18,020 $ 14,868 $ 18,020 $ 14,868 $ 18,020 $ 14,868
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Supplemental Disclosures of Cash Flow Information
Cash paid during the period - interest $ 51,310 $ 49,685 $154,700 $153,140 $204,806 $193,544
income taxes $ 8,360 $ 24,000 $ 48,750 $ 64,611 $161,302 $169,909
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See Supplemental Data and Notes to Financial Statements.