NRC-16-0074, Price-Anderson Act Guarantee of Payment of Deferred Premiums - Consolidated Statements of Cash Flows for Three Years as of 12/31/2015 (Audited) and 09/30/2016 (Unaudited)

Price-Anderson Act Guarantee of Payment of Deferred Premiums - Consolidated Statements of Cash Flows for Three Years as of 12/31/2015 (Audited) and 09/30/2016 (Unaudited)

ML16334A386
Person / Time
Site:	Fermi
Issue date:	11/28/2016
From:	Maglio S DTE Energy
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
NRC-16-0074
Download: ML16334A386 (4)

Text

DTE Energy Company 6400 North Dixie Highway Newport, MI 48166 DTE Energy-10 CFR 140.21 November 28, 2016 NRC-16-0074 U. S. Nuclear Regulatory Commission Attention: Document Control Desk Washington D C 20555-0001

Reference:

Fermi 2 NRC Docket No. 50-341 NRC Operating License No. NPF-43

Subject:

Price-Anderson Act Guarantee of Payment of Deferred Premiums Enclosed, please find Consolidated Statements of Cash Flows for three years as of December 31, 2015 (audited) and September 30, 2016 (unaudited). These statements have been prepared in accordance with Generally Accepted Accounting Principals (GAAP) and the Secondary Financial Protection section of the amended Price-Anderson Act.

Should you have any questions or require additional information, please contact me at (734) 586-5076.

Sincerely, AA4A, A\

Scott A. Maglio Manager - Nuclear Licensing Enclosure cc: NRC Project Manager NRC Resident Office Reactor Projects Chief, Branch 5, Region III Regional Administrator, Region III Michigan Public Service Commission Regulated Energy Division (kindschl @michigan.gov)

Enclosure to NRC-16-0074 DTE Energy Company Consolidated Statements of Cash Flows

DTE Energy Company Consolidated Statements of Cash Flows (Unaudited)

Nine Months Ended September 30, 2016 2015 Operating Activities (In millions)

Net Income $ 710 $ 643 Adjustments to reconcile Net Income to net cash from operating activities:

Depreciation and amortization 702 625 Nuclear fuel amortization 44 40 Allowance for equity funds used during construction (15) (16)

Deferred income taxes 244 251 Equity earnings of equity method investees (49) (49)

Dividends from equity method investees 52 49 Asset (gains) losses and impairments, net - 9 Changes in assets and liabilities:

Accounts receivable, net 6 277 Inventories 10 (36)

Accounts payable 39 (125)

Accrued pension liability (1) (160)

Accrued postretirement liability (80) (213)

Derivative assets and liabilities 122 32 Regulatory assets and liabilities 93 35 Other current and noncurrent assets and liabilities (110) 111 Net cash from operating activities 1,767 1,473 Investing Activities Plant and equipment expenditures - utility (1,267) (1,239)

Plant and equipment expenditures - non-utility (75) (162)

Acquisition - (241)

Proceeds from sale of assets - 16 Restricted cash for debt redemption, principally Securitization, net 2 99 Proceeds from sale of nuclear decommissioning trust fund assets 1,135 627 Investment in nuclear decommissioning trust funds (1,140) (638)

Distributions from equity method investees 8 13 Contributions to equity method investees (199) (58)

Other 33 11 Net cash used for investing activities (1,503) (1,572)

Financing Activities Issuance of long-term debt, net of issuance costs 646 956 Redemption of long-term debt (322) (260)

Repurchase of long-term debt (59) -

Short-term borrowings, net (89) (213)

Issuance of common stock - 9 Repurchase of common stock (33) -

Dividends on common stock (393) (370)

Other 15 (4)

Net cash from (used for) financing activities (235) 118 Net Increase in Cash and Cash Equivalents 29 19 Cash and Cash Equivalents at Beginning of Period 37 48 Cash and Cash Equivalents at End of Period $ 66 $ 67 Supplemental disclosure of non-cash investing and financing activities Plant and equipment expenditures in accounts payable $ 168 $ 185 See Combined Notes to Consolidated Financial Statements (Unaudited) 9

DTE Energy Company Consolidated Statements of Cash Flows Year Ended December 31, 2015 2014 2013 Operating Activities (In millions)

Net Income $ 720 $ 911 $ 668 Adjustments to reconcile Net Income to net cash from operating activities:

Depreciation and amortization 852 1,145 1,094 Nuclear fuel amortization 46 48 38 Allowance for equity funds used during construction (21) (21) (15)

Deferred income taxes 237 356 164 Equity earnings of equity method investees (66) (48) (59)

Dividends from equity method investees 64 55 61 Asset (gains) losses and impairments, net 107 (4) (8)

Changes in assets and liabilities:

Accounts receivable, net 259 48 (154)

Inventories 1 (177) 123 Accounts payable (158) 128 14 Accrued pension liability (147) 627 (644)

Accrued postretirement liability (287) 165 (526)

Derivative assets and liabilities 47 (199) 107 Regulatory assets and liabilities 85 (1,177) 1,269 Other current and noncurrent assets and liabilities 172 (18) 22 Net cash from operating activities 1,911 1,839 2,154 Investing Activities Plant and equipment expenditures - utility (1,817) (1,784) (1,534)

Plant and equipment expenditures - non-utility (203) (265) (342)

Acquisition (241)

Proceeds from sale of assets 16 45 36 Restricted cash for debt redemption, principally Securitization, net 97 3 (1)

Proceeds from sale of nuclear decommissioning trust fund assets 885 1,146 1,118 Investment in nuclear decommissioning trust funds (898) (1,156) (1,134)

Distributions from equity method investees 19 13 8 Contributions to equity method investees (98) (42) (21)

Other 36 (20) (36)

Net cash used for investing activities (2,204) (2,060) (1,906)

Financing Activities Issuance of long-term debt, net of issuance costs 956 1,736 1,234 Redemption of long-term debt (286) (1,237) (961)

Short-term borrowings, net 101 267 (109)

Issuance of common stock 9 - 39 Repurchase of common stock (52)

Dividends on common stock (501) (470) (445)

Other 3 (27) (19)

Net cash from (used for) financing activities 282 217 (261)

Net Decrease in Cash and Cash Equivalents (11) (4) (13)

Cash and Cash Equivalents at Beginning of Period 48 52 65 Cash and Cash Equivalents at End of Period $ 37 $ 48 $ 52 Supplemental disclosure of cash information Cash paid (received) for:

Interest, net of interest capitalized S 428 $ 415 $ 418 Income taxes $ 14 $ (35) $ 121 Supplemental disclosure of non-cash investing and financing activities Plant and equipment expenditures in accounts payable $ 207 $ 212 $ 329 See Combined Notes to Consolidated Financial Statements 57