Content
Consolidated Statements of Cash Flows
|
(millions of dollars) Year ended December 31, |
2008 |
2007 |
|---|---|---|
Cash Provided by Operating Activities |
||
Earnings |
21.9 |
21.1 |
Charges/(credits) not affecting cash |
||
Depreciation and amortization |
85.8 |
81.8 |
Amortization of deferred financing charges |
1.6 |
1.6 |
Amortization of fair value increment on debt |
(4.9) |
(5.1) |
Future income taxes |
(3.7) |
(9.1) |
Other |
1.1 |
(0.7) |
Changes in operating assets and liabilities |
||
Change in accounts receivable and other |
(6.0) |
(5.3) |
Change in accounts payable and accrued liabilities |
16.8 |
16.5 |
Change in deferred amounts and other assets |
(16.6) |
(19.0) |
Change in long-term liabilities |
2.4 |
(0.7) |
Asset retirements |
(0.3) |
(0.5) |
|
98.1 |
80.6 |
Investing Activities |
||
Additions to property, plant and equipment |
(56.4)< |
(55.4) |
Change in construction payable |
(7.2) |
(9.6) |
Investment in asset-backed commercial paper (Note 15) |
– |
(6.2) |
|
(63.6) |
(71.2) |
Financing Activities |
||
Net change in long-term credit facility |
(6.5) |
29.5 |
Net change in non-recourse long-term credit facility |
39.1 |
17.6 |
Repayment of non-recourse long-term debt |
(28.8) |
(26.1) |
Trust unit distributions (Note 13) |
(35.7) |
(33.1) |
|
(31.9) |
(12.1) |
Increase/(Decrease) in Cash and Cash Equivalents |
2.6 |
(2.7) |
Cash and Cash Equivalents at Beginning of Year |
14.7 |
17.4 |
Cash and Cash Equivalents at End of Year |
17.3 |
14.7 |
Cash and Cash Equivalents |
7.4 |
12.3 |
Cash and Cash Equivalents in Trust |
9.9 |
2.4 |
|
17.3 |
14.7 |
The accompanying notes to the consolidated financial statements are an integral part of these statements.