v3.2.0.727
Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 14 $ 128
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense(1) [1] 342 322
Deferred income taxes 3 (12)
Mark-to-market activity, net [2] (70) (70)
(Income) from unconsolidated investments in power plants (12) (13)
Return on unconsolidated investments in power plants 13 13
Stock-based compensation expense 12 22
Other 2 2
Change in operating assets and liabilities:    
Accounts receivable 29 (212)
Derivative instruments, net (36) (109)
Other assets (118) (40)
Accounts payable and accrued expenses (205) 378
Other liabilities 45 (60)
Net cash provided by operating activities 19 349
Cash flows from investing activities:    
Purchases of property, plant and equipment (279) (258)
Purchase of Guadalupe Energy Center 0 (656)
Decrease in restricted cash 34 14
Other (1) 0
Net cash used in investing activities (246) (900)
Cash flows from financing activities:    
Borrowings under CCFC Term Loans and First Lien Term Loans 1,592 420
Repayment of CCFC Term Loans and First Lien Term Loans (1,613) (23)
Borrowings under Senior Unsecured Notes 650 0
Repurchase of First Lien Notes (147) 0
Proceeds from Issuance of Long-term Debt 0 2
Repayments of project financing, notes payable and other (85) (55)
Financing costs (17) (10)
Stock repurchases (454) (297)
Proceeds from exercises of stock options 6 15
Net cash provided by (used in) financing activities (68) 52
Net decrease in cash and cash equivalents (295) (499)
Cash and cash equivalents, beginning of period 717 941
Cash and cash equivalents, end of period 422 442
Cash paid during the period for:    
Interest, net of amounts capitalized 322 288
Income taxes 17 16
Supplemental disclosure of non-cash investing and financing activities:    
Change in capital expenditures included in accounts payable (20) 13
Capital Lease Obligations Incurred $ 9 $ 0
[1] Includes depreciation and amortization included in fuel and purchased energy expense and interest expense on our Consolidated Condensed Statements of Operations
[2] In addition to changes in market value on derivatives not designated as hedges, changes in mark-to-market gain (loss) also includes de-designation of interest rate swap cash flow hedges and related reclassification from AOCI into earnings, hedge ineffectiveness and adjustments to reflect changes in credit default risk exposure.