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FY2011
12 months to Dec 31, 2011
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|
|---|---|
| OPERATING ACTIVITIES | |
| Net Income | |
| Adjustments to reconcile net income to net cash provided by operating activities: | |
| Equity in earnings of affiliates | |
| Distributions received from affiliates | |
| Depreciation | |
| Deferred income taxes and investment tax credits | |
| Amortization of capital leases | |
| Regulatory and other deferrals and amortization | |
| Non-cash employee benefit plan costs | |
| Other non-cash expense and (income), net | |
| Changes in assets and liabilities: | |
| Fortis termination fee reimbursement from Gaz Metro | |
| Increase in accounts receivable and unbilled revenues | |
| (Decrease) increase in accounts payable | |
| Increase (decrease) in accounts payable - affiliates | |
| Decrease (increase) in other current assets | |
| (Increase) decrease in special deposits and restricted cash | |
| Employee benefit plan funding | |
| Increase (decrease) in other current liabilities | |
| Increase (decrease) in other long-term assets | |
| Increase in other long-term liabilities and other | |
| Net cash provided by operating activities | |
| INVESTING ACTIVITIES | |
| Construction and plant expenditures | |
| Investment in affiliates (Transco) | |
| Acquisition of utility property (Vermont Marble and Readsboro) | |
| Increase in restricted cash - project fund investments | |
| Reimbursements of restricted cash - bond proceeds | |
| Project reimbursement from DOE | |
| Investments in available-for-sale securities | |
| Proceeds from sale of available-for-sale securities | |
| Other investing activities | |
| Net cash used for investing activities | |
| FINANCING ACTIVITIES | |
| Net proceeds from the issuance of common stock | |
| Decrease in special deposits for preferred stock mandatory redemption | |
| Retirement of preferred stock subject to mandatory redemption | |
| Common and preferred dividends paid | |
| Proceeds from revolving credit facility and other short-term borrowings | |
| Repayments under revolving credit facility and other short-term borrowings | |
| Proceeds from long-term debt | |
| Repayment of long-term debt | |
| Common stock offering and debt issue costs | |
| Reduction in capital lease and other financing activities | |
| Net cash provided by financing activities | |
| Net change in cash and cash equivalents | |
| Cash and cash equivalents at beginning of the period | |
| Cash and cash equivalents at end of the period |
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