Carolina Power & Light Company
STATEMENTS OF CASH FLOWS
(In thousands) Three Months Ended Twelve Months Ended
March 31 March 31
1997 1996 1997 1996
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Operating Activities
Net income $ 82,262 $ 118,346 $ 355,193 $ 392,916
Adjustments to reconcile net income to net cash
provided by operating activities
Depreciation and amortization 140,358 112,933 473,933 444,534
Harris Plant deferred costs 6,258 6,256 19,418 21,702
Deferred income taxes (25,819) 14,626 90,374 115,886
Investment tax credit (2,558) (2,611) (10,392) (9,402)
Allowance for equity funds used during construction (61) (1,035) 963 (3,472)
Deferred fuel cost (credit) 9,614 (11,409) (2,134) (34,733)
Net increase in receivables, inventories and prepaid expenses (16,813) (15,575) (66,031) (50,032)
Net decrease in payables and accrued expenses (23,345) (18,615) (59) (41,831)
Miscellaneous 34,057 5,744 93,165 29,394
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Net Cash Provided by Operating Activities 203,953 208,660 954,430 864,962
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Investing Activities
Gross property additions (92,079) (88,478) (372,909) (282,950)
Nuclear fuel additions (21,616) (26,073) (82,808) (87,551)
Contributions to external decommissioning trust (10,298) (10,298) (30,683) (29,809)
Contributions to retiree benefit trusts (21,096) (24,700) (21,096) (24,700)
Allowance for equity funds used during construction 61 1,035 (963) 3,472
Miscellaneous (1,190) (13,238) (15,998) (41,266)
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Net Cash Used in Investing Activities (146,218) (161,752) (524,457) (462,804)
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Financing Activities
Proceeds from issuance of long-term debt -- 265,557 84,443 386,539
Net increase (decrease) in short-term notes payable 86,976 3,640 74,478 (18,117)
Retirement of long-term debt (61,427) (255,504) (273,733) (406,603)
Purchase of Company common stock -- (1,920) (23,288) (130,181)
Dividends paid on common and preferred stock (69,324) (67,568) (272,574) (268,052)
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Net Cash Used in Financing Activities (43,775) (55,795) (410,674) (436,414)
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Net Increase (Decrease) in Cash and Cash Equivalents 13,960 (8,887) 19,299 (34,256)
Cash and Cash Equivalents at Beginning of the Period 10,941 14,489 5,602 39,858
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Cash and Cash Equivalents at End of the Period $ 24,901 $ 5,602 $ 24,901 $ 5,602
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Supplemental Disclosures of Cash Flow Information
Cash paid during the period - interest $ 53,101 $ 55,202 $ 192,290 $ 203,804
income taxes $ 804 $ 655 $ 141,499 $ 176,207
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See Supplemental Data and Notes to Interim Consolidated Financial Statements.