10-Q - Edison International

Consolidated Statements of Cash FlowsSouthern California Edison CompanyThree months ended March 31,(in millions, unaudited) 2012 2011Cash flows from operating activities:Net income $ 201 $ 236Adjustments to reconcile to net cash provided by operating activities:Depreciation, decommissioning and amortization 389 344Regulatory impacts of net nuclear decommissioning trust earnings 77 41Other amortization 20 28Stock-based compensation 4 4Deferred income taxes and investment tax credits 156 257Proceeds from U.S. treasury grants 29 —Changes in operating assets and liabilities:Receivables 90 90Inventory 11 4Margin and collateral deposits – net of collateral received (1) 2Prepaid taxes (1) (57)Other current assets 19 (4)Accounts payable (53) (88)Accrued taxes 62 2Other current liabilities (185) (244)Derivative assets and liabilities – net 336 102Regulatory assets and liabilities – net (317) (42)Other assets (10) (6)Other liabilities (52) 3Net cash provided by operating activities 775 672Cash flows from financing activities:Long-term debt issued 395 —Long-term debt issuance costs (4) —Long-term debt repaid (1) (1)Preference stock issued – net 345 123Short-term debt financing – net (89) 200Settlements of stock-based compensation – net (15) (4)Dividends paid (131) (128)Net cash provided by financing activities 500 190Cash flows from investing activities:Capital expenditures (1,189) (1,022)Proceeds from sale of nuclear decommissioning trust investments 602 622Purchases of nuclear decommissioning trust investments and other (684) (669)Customer advances for construction and other investments 2 3Net cash used by investing activities (1,269) (1,066)Net increase (decrease) in cash and cash equivalents 6 (204)Cash and cash equivalents, beginning of period 57 257Cash and cash equivalents, end of period $ 63 $ 53The accompanying notes are an integral part of these consolidated financial statements.4