Vectren (VVC) annual cash flow statement covering fiscal 2012 through 2017, as reported to the SEC.
Net cash from operating activities has grown 5.2% a year on average since fiscal 2012, from $387.4M to $498.8M.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||||||||||||
Net income | |||||||||||||||||||||
216,000 | 211,600 | 197,300 | 166,900 | 136,600 | 159,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income | 216,000 | 211,600 | 197,300 | 166,900 | 136,600 | 159,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net income to cash from operating activities: | |||||||||||||||||||||
Depreciation & amortization | |||||||||||||||||||||
276,200 | 260,000 | 256,300 | 273,400 | 277,800 | 254,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation & amortization | 276,200 | 260,000 | 256,300 | 273,400 | 277,800 | 254,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred income taxes & investment tax credits | |||||||||||||||||||||
19,000 | 100,100 | 80,400 | 37,900 | 43,300 | 84,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred income taxes & investment tax credits | 19,000 | 100,100 | 80,400 | 37,900 | 43,300 | 84,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Equity in (losses) of unconsolidated affiliates | |||||||||||||||||||||
- | - | - | - | -59,700 | -23,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Equity in (losses) of unconsolidated affiliates | - | - | - | - | -59,700 | -23,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for uncollectible accounts | |||||||||||||||||||||
5,900 | 6,900 | 8,100 | 7,300 | 6,800 | 8,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for uncollectible accounts | 5,900 | 6,900 | 8,100 | 7,300 | 6,800 | 8,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Expense portion of pension & postretirement benefit cost | |||||||||||||||||||||
5,400 | 3,600 | 6,800 | 6,600 | 9,900 | 8,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Expense portion of pension & postretirement benefit cost | 5,400 | 3,600 | 6,800 | 6,600 | 9,900 | 8,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loss on Sale of Business (pretax) | |||||||||||||||||||||
- | - | - | -41,800 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loss on Sale of Business (pretax) | - | - | - | -41,800 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Gain on Revaluation of Contingent Consideration | |||||||||||||||||||||
- | - | - | -14,800 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Gain on Revaluation of Contingent Consideration | - | - | - | -14,800 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other non-cash items - net | |||||||||||||||||||||
-12,900 | -7,800 | -7,300 | 5,300 | 5,800 | 9,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other non-cash items - net | -12,900 | -7,800 | -7,300 | 5,300 | 5,800 | 9,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in working capital accounts: | |||||||||||||||||||||
Accounts receivable & accrued unbilled revenues | |||||||||||||||||||||
80,900 | 39,600 | 15,400 | -11,800 | -1,500 | 67,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable & accrued unbilled revenues | 80,900 | 39,600 | 15,400 | -11,800 | -1,500 | 67,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Gain on sale of business in 2011, net of other non-cash charges | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Gain on sale of business in 2011, net of other non-cash charges | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Inventories | |||||||||||||||||||||
-3,300 | -3,900 | 15,200 | 22,500 | -24,200 | -3,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Inventories | -3,300 | -3,900 | 15,200 | 22,500 | -24,200 | -3,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Recoverable/refundable fuel & natural gas costs | |||||||||||||||||||||
-10,700 | 37,800 | -15,200 | 4,400 | -22,400 | 12,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Recoverable/refundable fuel & natural gas costs | -10,700 | 37,800 | -15,200 | 4,400 | -22,400 | 12,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Prepayments & other current assets | |||||||||||||||||||||
-5,700 | -22,900 | -20,300 | 35,200 | -12,800 | 5,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Prepayments & other current assets | -5,700 | -22,900 | -20,300 | 35,200 | -12,800 | 5,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts payable | |||||||||||||||||||||
65,900 | 40,700 | -500 | 20,200 | 6,800 | -14,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable | 65,900 | 40,700 | -500 | 20,200 | 6,800 | -14,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued liabilities | |||||||||||||||||||||
15,600 | 22,700 | -900 | -12,300 | 1,200 | -3,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued liabilities | 15,600 | 22,700 | -900 | -12,300 | 1,200 | -3,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Unconsolidated affiliate dividends | |||||||||||||||||||||
- | - | - | - | 1,100 | 100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Unconsolidated affiliate dividends | - | - | - | - | 1,100 | 100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Employer contributions to pension & postretirement plans | |||||||||||||||||||||
4,600 | 19,600 | 26,500 | 5,100 | 13,700 | 20,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Employer contributions to pension & postretirement plans | 4,600 | 19,600 | 26,500 | 5,100 | 13,700 | 20,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in noncurrent assets | |||||||||||||||||||||
40,600 | 44,000 | 21,900 | -100 | 2,100 | 35,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Changes in noncurrent assets | 40,600 | 44,000 | 21,900 | -100 | 2,100 | 35,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in noncurrent liabilities | |||||||||||||||||||||
-11,700 | -15,100 | -6,100 | -13,400 | -4,700 | -11,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Changes in noncurrent liabilities | -11,700 | -15,100 | -6,100 | -13,400 | -4,700 | -11,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash from operating activities | |||||||||||||||||||||
498,800 | 524,100 | 505,200 | 488,200 | 587,000 | 387,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash from operating activities | 498,800 | 524,100 | 505,200 | 488,200 | 587,000 | 387,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||||||||||||
Long-term debt, net of issuance costs | |||||||||||||||||||||
198,500 | - | 385,500 | 62,400 | 481,700 | 199,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Long-term debt, net of issuance costs | 198,500 | - | 385,500 | 62,400 | 481,700 | 199,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Issuance of common stock | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Issuance of common stock | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Dividend reinvestment plan & other common stock issuances | |||||||||||||||||||||
6,300 | 6,300 | 6,200 | 6,100 | 6,900 | 7,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Dividend reinvestment plan & other common stock issuances | 6,300 | 6,300 | 6,200 | 6,100 | 6,900 | 7,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Dividends on common stock | |||||||||||||||||||||
141,900 | 134,200 | 127,300 | 120,400 | 117,300 | 115,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Dividends on common stock | 141,900 | 134,200 | 127,300 | 120,400 | 117,300 | 115,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Retirement of long-term debt | |||||||||||||||||||||
75,000 | 73,000 | 170,000 | 293,600 | 338,900 | 62,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Retirement of long-term debt | 75,000 | 73,000 | 170,000 | 293,600 | 338,900 | 62,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other financing activities | |||||||||||||||||||||
- | - | 200 | 100 | -2,100 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other financing activities | - | - | 200 | 100 | -2,100 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in short-term borrowings | |||||||||||||||||||||
55,100 | 179,900 | -141,900 | 87,800 | -210,200 | -48,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in short-term borrowings | 55,100 | 179,900 | -141,900 | 87,800 | -210,200 | -48,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash from financing activities | |||||||||||||||||||||
43,000 | -21,000 | -47,300 | -257,600 | -179,900 | -19,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash from financing activities | 43,000 | -21,000 | -47,300 | -257,600 | -179,900 | -19,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||||||||||
Sale of business | |||||||||||||||||||||
- | - | - | 311,200 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Sale of business | - | - | - | 311,200 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Unconsolidated affiliate distributions | |||||||||||||||||||||
- | - | - | - | - | 200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Unconsolidated affiliate distributions | - | - | - | - | - | 200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from sale of assets and other collections | |||||||||||||||||||||
11,300 | 33,000 | 27,500 | 9,500 | 5,600 | 9,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from sale of assets and other collections | 11,300 | 33,000 | 27,500 | 9,500 | 5,600 | 9,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Requirements for: | |||||||||||||||||||||
Transaction Costs for Sale of Business | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Transaction Costs for Sale of Business | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Capital expenditures, excluding AFUDC equity | |||||||||||||||||||||
602,600 | 542,000 | 476,900 | 448,300 | 393,400 | 365,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Capital expenditures, excluding AFUDC equity | 602,600 | 542,000 | 476,900 | 448,300 | 393,400 | 365,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other costs | |||||||||||||||||||||
3,400 | 5,200 | 14,300 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other costs | 3,400 | 5,200 | 14,300 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Business Acquisitions and Other Costs | |||||||||||||||||||||
- | - | - | 38,100 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Business Acquisitions and Other Costs | - | - | - | 38,100 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Unconsolidated affiliate investments | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Unconsolidated affiliate investments | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other investments | |||||||||||||||||||||
- | - | - | - | 17,300 | 1,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other investments | - | - | - | - | 17,300 | 1,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in restricted cash | |||||||||||||||||||||
-900 | -5,000 | 5,900 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Changes in restricted cash | -900 | -5,000 | 5,900 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash from investing activities | |||||||||||||||||||||
-593,800 | -509,200 | -469,600 | -165,700 | -405,100 | -356,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash from investing activities | -593,800 | -509,200 | -469,600 | -165,700 | -405,100 | -356,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in cash & cash equivalents | |||||||||||||||||||||
-52,000 | -6,100 | -11,700 | 64,900 | 2,000 | 10,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in cash & cash equivalents | -52,000 | -6,100 | -11,700 | 64,900 | 2,000 | 10,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||