NRC-17-0082, Price-Anderson Act Guarantee of Payment of Deferred Premiums

Price-Anderson Act Guarantee of Payment of Deferred Premiums

ML17345A290
Person / Time
Site:	Fermi
Issue date:	12/11/2017
From:	Maglio S DTE Energy
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
NRC-17-0082
Download: ML17345A290 (4)

Text

DTE Energy Company 6400 North Dixie Highway Newport, MI 48166 DTE Energy-10 CFR 140.21 December 11, 2017 NRC-17-0082 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, 2016 (audited) and September 30, 2017 (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, Scott A. Mag io 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-17-0082 DTE Energy Company Consolidated Statements of Cash Flows

DTE Energy Company Consolidated Statements of Cash Flows (Unaudited)

Nine Months Ended September 30, 2017 2016 (In millions)

Operating Activities Net Income $ 832 $ 710 Adjustments to reconcile Net Income to Net cash from operating activities:

Depreciation and amortization 756 702 Nuclear fuel amortization 39 44 Allowance for equity funds used during construction (17) (15)

Deferred income taxes 261 244 Equity earnings of equity method investees (77) (49)

Dividends from equity method investees 55 52 Asset (gains) losses and impairments, net 5 Changes in assets and liabilities:

Accounts receivable, net 43 6 Inventories (41) 10 Accounts payable 25 39 Accrued pension liability (230) (1)

Accrued postretirement liability (30) (80)

Derivative assets and liabilities (133) 122 Regulatory assets and liabilities 260 93 Other current and noncurrent assets and liabilities (198) (110)

Net cash from operating activities 1,550 1,767 Investing Activities Plant and equipment expenditures - utility (1,439) (1,267)

Plant and equipment expenditures-non-utility (133) (75)

Proceeds from sale of nuclear decommissioning trust fund assets 951 1,135 Investment in nuclear decommissioning trust funds (936) (1,140)

Distributions from equity method investees 10 8 Contributions to equity method investees (194) (199)

Other (63) 35 Net cash used for investing activities (1,804) (1,503)

Financing Activities Issuance of long-term debt, net of issuance costs 1,010 646 Redemption of long-term debt (385) (322)

Repurchase of long-term debt - (59)

Short-term borrowings, net 160 (89)

Repurchase of common stock (51) (33)

Dividends on conunon stock (444) (393)

Other (65) 15 Net cash from (used for) financing activities 225 (235)

Net Increase (Decrease) in Cash and Cash Equivalents (29) 29 Cash and Cash Equivalents at Beginning of Period 92 37 Cash and Cash Equivalents at End of Period S 63 S 66 Supplemental disclosure of non-cash investing and financing activities Plant and equipment expenditures in accounts payable $ 222 S 168 See Combined Notes to Consolidated Financial Statements (Unaudited) 9

DTE Energy Company Consolidated Statements of Cash Flows Year Ended December 31, 2016 2015 2014 Operating Activities (In millions)

Net Income S 834 $ 720 $ 911 Adjustments to reconcile Net Income to net cash from operating activities:

Depreciation and amortization 976 852 1,145 Nudlear fuel amortization 58 46 48 Allowance for equity funds used during construction (21) (21) (21)

Deferred income taxes 265 237 356 Equity earnings of equity method investees (68) (66) (48)

Dividends from equity method investees 68 64 55 Asset (gains) losses and impairments, net 8 107 (4)

Changes in assets and liabilities:

Accounts receivable, net (226) 259 48 Inventories 37 1 (177)

Accounts payable 145 (158) 128 Accrued pension liability 19 (147) 627 Accrued postretirement liability (192) (287) 165 Derivative assets and liabilities 126 47 (199)

Regulatory assets and liabilities (40) 85 (1,177)

Other current and noncurrent assets and liabilities 95 177 (12)

Net cash from operating activities 2,084 1,916 1,845 Investing Activities Plant and equipment expenditures-utility (1,898) (1,817) (1,784)

Plant and equipment expenditures - non-utility (147) (203) (265)

Acquisition, net of cash acquired (1,147) (241)

Proceeds from sale of assets 6 16 45 Restricted cash for debt redemption, principally Securitization, net 1 97 3 Proceeds from sale of nuclear decommissioning trust fund assets 1,457 885 1,146 Investment in nuclear decommissioning trust funds (1,463) (898) (1,156)

Distributions from equity method investees 11 19 13 Contributions to equity method investees (239) (98) (42)

Other 31 36 (20)

Net cash used for investing activities (3,388) (2,204) (2,060)

Financing Activities Issuance of long-term debt, net of issuance costs 2,035 956 1,736 Redemption of long-term debt (807) (286) (1,237)

Repurchase of long-term debt (59) -

Issuance of equity units, net of issuance costs 654 -

Short-term borrowings, net - 101 267 Repurchase of common stock (33) - (52)

Dividends on common stock (531) (501) (470)

Contributions from noncontrolling interests 114 23 Other (14) (16) (33)

Net cash from financing activities 1,359 277 211 Net Increase (Decrease) in Cash and Cash Equivalents 55 (I1) (4)

Cash and Cash Equivalents at Beginning of Period 37 48 52 Cash and Cash Equivalents at End of Period S 92 $ 37 S 48 Supplemental disclosure of cash information Cash paid (received) for:

Interest, net of interest capitalized $ 448 $ 428 S 415 Income taxes $ (1) $ 14 $ (35)

Supplemental disclosure of non-cash investing and financing activities