v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income $ 385.6 $ 315.2
Reconciliation to cash provided by operating activities    
Depreciation and amortization 332.8 307.2
Deferred income taxes and ITCs, net 12.8 13.0
AFUDC-Equity (81.1) (30.0)
Change in –    
Accounts receivable and unbilled revenues, net 96.3 (18.0)
Materials, supplies, and inventories (10.1) 35.7
Prepaid taxes (8.3) 30.1
Other prepayments 14.8 10.2
Collateral on deposit (19.2) (0.9)
Other current assets 1.9 1.9
Accounts payable (4.3) (122.0)
Accrued taxes (12.8) 12.7
Other current liabilities (11.8) (19.1)
Other, net 81.6 31.7
Net cash provided by operating activities 778.2 567.7
Investing activities    
Capital expenditures (1,388.6) (869.1)
Reimbursement for ATC's transmission infrastructure upgrades 0.0 33.1
Payments for ATC's transmission infrastructure upgrades that will be reimbursed (11.7) (4.5)
Other, net (27.7) (6.5)
Net cash used in investing activities (1,428.0) (847.0)
Financing activities    
Change in short-term debt (464.6) (5.4)
Issuance of long-term debt 1,098.5 0.0
Retirement of long-term debt (4.6) (254.6)
Payments for finance lease obligations (56.6) (48.4)
Equity contribution from parent 435.0 710.0
Payment of dividends to parent (345.0) (120.0)
Other, net (10.8) (0.7)
Net cash provided by financing activities 651.9 280.9
Net change in cash, cash equivalents, and restricted cash 2.1 1.6
Cash, cash equivalents, and restricted cash at beginning of period 2.6 2.5
Cash, cash equivalents, and restricted cash at end of period $ 4.7 $ 4.1