| TECO ENERGY, Inc. |
| CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) |
| (All significant intercompany
transactions have been eliminated in the consolidated financial statements.) |
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Three Months Ended |
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Nine Months Ended |
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Twelve Months Ended |
| |
|
September 30, |
|
September 30, |
|
September 30, |
| (thousands) |
|
2002 |
|
2001 |
|
2002 |
|
2001 |
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2002 |
|
2001 |
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| CASH FLOWS FROM OPERATING ACTIVITIES |
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| NET INCOME |
|
$ 118,917 |
|
$ 97,332 |
|
$ 280,026 |
|
$ 238,932 |
|
$ 344,842 |
|
$ 296,765 |
| ADJ TO RECONCILE NET INCOME TO NET CASH |
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| DEPRECIATION |
|
79,613 |
|
71,702 |
|
234,500 |
|
209,388 |
|
313,328 |
|
280,262 |
| DEFERRED INCOME TAXES |
|
2,812 |
|
(794) |
|
(66,883) |
|
(65,065) |
|
(104,733) |
|
(56,714) |
| INVESTMENT TAX CREDIT - NET |
|
(1,129) |
|
(1,585) |
|
(3,384) |
|
(3,689) |
|
(4,641) |
|
(4,825) |
| ALLOWANCE FOR FUNDS USED DURING CONSTRUCTION |
|
(9,532) |
|
(2,703) |
|
(23,418) |
|
(5,577) |
|
(27,071) |
|
(5,920) |
| AMORTIZATION OF UNEARNED COMPENSATION |
|
1,912 |
|
2,678 |
|
8,651 |
|
8,374 |
|
9,937 |
|
10,773 |
| LOSS / (GAIN) ON DISPOSAL OF DISCONTINUED OPER., PRETAX |
|
- |
|
- |
|
- |
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- |
|
- |
|
- |
| GAIN ON PROPANE BUSINESS DISPOSAL/SALE, PRETAX |
|
- |
|
- |
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- |
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- |
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- |
|
- |
| EQUITY IN EARNINGS OF UNCONSOLIDATED AFFILIATES |
|
(527) |
|
1,982 |
|
3,947 |
|
203 |
|
601 |
|
(2,785) |
| ASSET VALUATION ADJUSTMENT, PRETAX |
|
4,887 |
|
- |
|
4,887 |
|
11,089 |
|
4,887 |
|
11,089 |
| DEFERRED REVENUE |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| DEFERRED RECOVERY CLAUSE |
|
23,903 |
|
1,446 |
|
75,195 |
|
(23,560) |
|
79,745 |
|
(60,332) |
| REFUNDED TO CUSTOMERS |
|
(4,081) |
|
- |
|
(6,128) |
|
- |
|
(6,128) |
|
(9,410) |
| COAL CONTRACT BUYOUT AND AMORTIZATION |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| NONRECURRING CHARGES |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| RECEIVABLES, LESS ALLOW FOR UNCOLLECT |
|
(34,246) |
|
(7,520) |
|
(90,948) |
|
5,097 |
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(38,987) |
|
5,338 |
| INVENTORIES |
|
(1,692) |
|
8,526 |
|
(34,486) |
|
(36,243) |
|
(21,008) |
|
(30,681) |
| TAXES ACCRUED |
|
(15,051) |
|
17,242 |
|
30,168 |
|
66,908 |
|
(20,276) |
|
(20,503) |
| INTEREST ACCRUED |
|
32,186 |
|
20,257 |
|
44,016 |
|
16,267 |
|
21,462 |
|
19,544 |
| ACCOUNTS PAYABLE |
|
(5,726) |
|
(16,165) |
|
29,282 |
|
(59,844) |
|
37,842 |
|
(32,220) |
| OTHER |
|
(15,284) |
|
(25,790) |
|
13,915 |
|
36,666 |
|
13,310 |
|
51,606 |
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| |
|
176,962 |
|
166,608 |
|
499,340 |
|
398,946 |
|
603,110 |
|
451,987 |
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| CASH FLOWS FROM INVESTING ACTIVITIES |
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| CAPITAL EXPENDITURES |
|
(212,932) |
|
(280,879) |
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(791,750) |
|
(711,141) |
|
(1,046,564) |
|
(977,647) |
| ALLOWANCE FOR FUNDS USED DURING CONSTRUCTION |
|
9,532 |
|
2,703 |
|
23,418 |
|
5,577 |
|
27,071 |
|
5,920 |
| PURCHASE OF MINORITY INTEREST |
|
0 |
|
0 |
|
(9,928) |
|
0 |
|
(9,928) |
|
0 |
| PURCHASE OF BUSINESS |
|
0 |
|
0 |
|
0 |
|
(280,291) |
|
(35,500) |
|
(285,456) |
| NET PROCEEDS FROM SALE OF ASSETS |
|
0 |
|
0 |
|
0 |
|
0 |
|
43,200 |
|
43,000 |
| INVESTMENT IN UNCONSOLIDATED AFFILIATES |
|
(1,387) |
|
(5,991) |
|
77 |
|
27,788 |
|
(95) |
|
23,810 |
| OTHER NON-CURRENT INVESTMENTS |
|
(194,963) |
|
(10,572) |
|
(531,666) |
|
203,281 |
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(639,279) |
|
(8,860) |
| |
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| |
|
(399,750) |
|
(294,739) |
|
(1,309,849) |
|
(754,786) |
|
(1,661,095) |
|
(1,199,233) |
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| CASH FLOWS FROM FINANCING ACTIVITIES |
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| DIVIDENDS |
|
(55,407) |
|
(46,895) |
|
(153,440) |
|
(136,067) |
|
(201,584) |
|
(178,256) |
| COMMON STOCK |
|
2,780 |
|
3,040 |
|
362,888 |
|
252,577 |
|
458,710 |
|
262,291 |
| PURCHASE OF TREASURY STOCK |
|
0 |
|
0 |
|
0 |
|
0 |
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0 |
|
0 |
| PROCEEDS FROM LONG-TERM DEBT |
|
541,840 |
|
206,978 |
|
1,384,525 |
|
1,255,910 |
|
1,384,525 |
|
1,287,959 |
| FUNDS HELD BY TRUSTEE - RESTRICTED CASH |
|
146,267 |
|
0 |
|
0 |
|
0 |
|
0 |
|
0 |
| REPAYMENT OF LONG-TERM DEBT |
|
(309,915) |
|
(211,439) |
|
(721,892) |
|
(231,307) |
|
(727,071) |
|
(239,317) |
| NET BORROWINGS (PAYMENTS) UNDER CREDIT LINES |
|
0 |
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0 |
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0 |
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0 |
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0 |
|
0 |
| NET INCR (DECR) IN SHORT-TERM DEBT |
|
(50,382) |
|
180,700 |
|
(408,082) |
|
(807,350) |
|
(170,782) |
|
(534,300) |
| ISSUANCE OF PREFERRED SECURITIES |
|
0 |
|
0 |
|
435,651 |
|
0 |
|
435,651 |
|
200,000 |
| EQUITY CONTRACT ADJUSTMENT PAYMENTS |
|
(5,082) |
|
0 |
|
(10,164) |
|
0 |
|
(10,164) |
|
0 |
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| |
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|
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|
|
|
|
|
| |
|
270,101 |
|
132,384 |
|
889,486 |
|
333,763 |
|
1,169,285 |
|
798,377 |
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| NET INCREASE (DECREASE) IN CASH AND |
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| CASH EQUIVALENTS |
|
47,313 |
|
4,253 |
|
78,977 |
|
(22,077) |
|
111,300 |
|
51,131 |
|
| CASH AND CASH EQUIVALENTS AT |
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|
| BEGINNING OF PERIOD |
|
140,133 |
|
71,893 |
|
108,469 |
|
98,223 |
|
76,146 |
|
25,015 |
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| CASH AND CASH EQUIVALENTS AT |
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| END OF PERIOD |
|
$187,446 |
|
$76,146 |
|
$187,446 |
|
$76,146 |
|
$187,446 |
|
$76,146 |
|