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Carolina Power & Light Company
STATEMENTS OF CASH FLOWS
(In thousands) Three Months Ended Nine Months Ended Twelve Months Ended
September 30 September 30 September 30
1995 1994 1995 1994 1995 1994
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Operating Activities
Net income $ 151,905 $ 120,253 $ 305,900 $ 267,292 $ 351,775 $ 331,164
Adjustments to reconcile net income to net cash
provided by operating activities
Depreciation and amortization 111,958 119,547 334,706 363,174 445,012 487,725
Harris Plant deferred costs 5,147 4,078 14,583 12,205 18,953 7,611
Deferred income taxes 12,499 (5,578) 4,988 (4,771) 46,999 32,993
Investment tax credit adjustments (2,553) (2,884) (7,658) (8,653) (10,542) (11,612)
Allowance for equity funds used during construction (774) (1,660) (2,671) (5,761) (2,984) (8,330)
Deferred fuel cost (credit) (8,683) 28,626 7,117 20,411 24,876 13,965
Net (increase) decrease in receivables, inventories
and prepaid expenses 5,147 19,246 (73,818) (50,068) (97,641) 19,103
Net increase (decrease) in payables and accrued
expenses 37,425 25,565 30,622 (1,234) (14,915) (50,608)
Miscellaneous 7,300 2,983 34,526 18,428 11,168 1,479
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Net Cash Provided by Operating Activities 319,371 310,176 648,295 611,023 772,701 823,490
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Investing Activities
Gross property additions (52,629) (63,935) (191,361) (191,876) (274,262) (302,609)
Nuclear fuel additions (31,933) (2,894) (67,243) (15,322) (77,771) (34,834)
Contributions to external decommissioning trust (6,899) (4,746) (33,515) (18,461) (36,679) (28,253)
Contributions to retiree benefit trusts - - (2,400) (18,917) (2,400) (20,167)
Loan transactions with SPSP Trustee, net - - - - - 9,125
Allowance for equity funds used during construction 774 1,660 2,671 5,761 2,984 8,330
Miscellaneous (5,212) - (21,734) - (27,829) -
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Net Cash Used in Investing Activities (95,899) (69,915) (313,582) (238,815) (415,957) (368,408)
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Financing Activities
Proceeds from issuance of long-term debt - - 180,670 268,325 230,556 313,086
Net increase (decrease) in short-term notes
payable (maturity less than 90 days) (65,700) (57,600) (51,100) (61,000) 2,000 10,000
Retirement of long-term debt (25,000) (138) (252,095) (268,377) (252,098) (536,970)
Purchase of Company common stock (Note 3) (67,403) (86,732) (75,396) (86,732) (103,381) (86,732)
Dividends paid on common stock (64,702) (64,226) (194,941) (192,398) (257,750) (257,441)
Dividends paid on preferred stock (2,399) (2,400) (7,222) (7,214) (9,622) (9,482)
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Net Cash Used in Financing Activities (225,204) (211,096) (400,084) (347,396) (390,295) (567,539)
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Net Increase (Decrease) in Cash and Cash Equivalents (1,732) 29,165 (65,371) 24,812 (33,551) (112,457)
Cash and Cash Equivalents at Beginning of the Period 16,600 19,254 80,239 23,607 48,419 160,876
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Cash and Cash Esquivalents at End of the Period $ 14,868 $ 48,419 $ 14,868 $ 48,419 $ 14,868 $ 48,419
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Supplemental Disclosures of Cash Flow Information
Cash paid during the period - interest $ 49,685 $ 52,719 $ 153,140 $ 148,349 $ 193,544 $ 199,990
income taxes $ 24,000 $ 22,736 $ 64,611 $ 75,461 $ 169,909 $ 118,339
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See Supplemental Data and Notes to Financial Statements
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