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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net income $ 1,113.2 $ 1,157.5
Reconciliation to cash provided by operating activities    
Depreciation and amortization 939.7 838.0
Deferred income taxes and ITCs, net 155.9 187.8
Contributions and payments related to pension and OPEB plans (13.0) (11.6)
Equity income in transmission affiliates, net of distributions (23.1) (47.1)
Change in –    
Accounts receivable and unbilled revenues, net 600.7 150.9
Materials, supplies, and inventories 67.2 (288.8)
Prepaid taxes 43.6 57.8
Other current assets 64.7 45.4
Accounts payable (350.6) 82.2
Other current liabilities 52.3 68.5
Other, net (112.2) (181.1)
Net cash provided by operating activities 2,538.4 2,059.5 Close
Investing activities    
Capital expenditures (1,729.5) (1,700.7)
Acquisition of Whitewater (76.0) 0.0
Acquisition of Sapphire Sky, net of cash acquired of $0.3 (442.6) 0.0
Acquisition of Samson I, net of cash acquired of $5.2 (249.4) 0.0
Acquisition of Red Barn (143.8) 0.0
Acquisition of West Riverside (95.3) 0.0
Acquisition of Thunderhead, net of cash acquired of $0.5 0.0 (362.9)
Capital contributions to transmission affiliates (51.5) (39.4)
Proceeds from the sale of assets 30.4 69.0
Proceeds from the sale of investments held in rabbi trust 10.4 15.4
Payments for ATC's construction costs that will be reimbursed (19.5) (20.6)
Insurance proceeds received for property damage 0.5 41.6
Other, net (5.4) 11.7
Net cash used in investing activities (2,771.7) (1,985.9) Close
Financing activities    
Exercise of stock options 3.0 33.1
Purchase of common stock (10.7) (68.3)
Dividends paid on common stock (738.1) (688.5)
Issuance of long-term debt 2,050.0 1,400.0
Retirement of long-term debt (996.0) (64.9)
Change in commercial paper (98.2) (640.2)
Payments for debt issuance costs (13.0) (9.1)
Other, net (4.5) (7.2)
Net cash provided by (used in) financing activities 192.5 (45.1) Close
Net change in cash, cash equivalents, and restricted cash (40.8) 28.5 Close
Cash, cash equivalents, and restricted cash at beginning of period 182.2 87.5
Cash, cash equivalents, and restricted cash at end of period $ 141.4 $ 116.0