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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income $ 622.6 $ 507.6
Reconciliation to cash provided by operating activities    
Depreciation and amortization 333.4 305.5
Deferred income taxes and ITCs, net 184.3 56.5
Contributions and payments related to pension and OPEB plans (4.0) (5.5)
Equity income in transmission affiliates, net of distributions (9.1) (6.4)
Change in –    
Accounts receivable and unbilled revenues, net (61.3) 60.7
Materials, supplies, and inventories 166.6 293.6
Collateral on deposit 17.2 (91.8)
Other current assets 19.7 89.4
Accounts payable (229.8) (424.7)
Other current liabilities (44.8) 63.7
Other, net (131.2) (52.5)
Net cash provided by operating activities 863.6 796.1 Close
Investing activities    
Capital expenditures (444.5) (499.4)
Acquisition of Whitewater 0.0 (76.0)
Acquisition of Sapphire Sky, net of cash acquired of $0.3 0.0 (442.6)
Acquisition of Samson I, net of cash acquired of $5.2 0.0 (249.4)
Capital contributions to transmission affiliates (12.1) (6.1)
Proceeds from the sale of investments held in rabbi trust 14.8 10.4
Other, net 5.6 (4.8)
Net cash used in investing activities (436.2) (1,267.9) Close
Financing activities    
Exercise of stock options 3.7 0.9
Issuance of common stock 19.2 0.0
Purchase of common stock (2.0) (6.9)
Dividends paid on common stock (263.5) (246.1)
Issuance of long-term debt 0.0 1,100.0
Retirement of long-term debt (756.9) (35.2)
Change in commercial paper 552.8 (385.4)
Purchase of additional ownership interest in Samson I from noncontrolling interest (28.1) 0.0
Other, net (1.7) (9.7)
Net cash provided by (used in) financing activities (476.5) 417.6 Close
Net change in cash, cash equivalents, and restricted cash (49.1) (54.2) Close
Cash, cash equivalents, and restricted cash at beginning of period 165.2 182.2
Cash, cash equivalents, and restricted cash at end of period $ 116.1 $ 128.0