NRC-18-0058, Guarantee of Payment of Deferred Premiums
| ML18362A093 | |
| Person / Time | |
|---|---|
| Site: | Fermi  |
| Issue date: | 12/27/2018 |
| From: | Maglio S DTE Electric Company, DTE Energy |
| To: | Document Control Desk, Office of Nuclear Reactor Regulation |
| References | |
| NRC-18-0058 | |
| Download: ML18362A093 (4) | |
Text
DTE Energy Company 6400 North Dixie Highway Newport, MI 48166 DTE Energy*
December 27, 2018 NRC-18-0058 U. S. Nuclear Regulatory Commission Attention: Document Control Desk Washington, D.C. 20555-0001 Fermi 2 Power Plant NRC Docket No. 50-341 NRC Operating License No. NPF-43
Subject:
Guarantee of Payment of Deferred Premiums 10 CFR 140.21 Pursuant to the requirements of 10 CFR 140.21, DTE Electric Company herby submits the enclosed DTE Energy Company Consolidated Statements of Cash Flows for three years ending December 31, 2017 (audited) and for the 9 months ending September 30, 2018 and 2017 (unaudited). These statements have been prepared in accordance with Generally Accepted Accounting Principles (GAAP) and satisfy the guarantee of payment of deferred premium requirement in accordance with 10 CFR 140.21(e).
No new commitments are being made in this submittal.
Should you have any questions or require additional information, please contact me at (734) 586-5076.
Sincerely,
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Scott A. Maglio Manager - Nuclear Licensing
Enclosure:
DTE Energy Company Consolidated Statements of Cash Flows 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 (kindsch1@michigan.gov)
Enclosure to NRC-18-0058 DTE Energy Company Consolidated Statements of Cash Flows
DTE Energy Company Consolidated Statements of Cash Flows Year Ended December 31, 2017 2016 2015 Operating Activities (In millions)
Net Income 1,112 834 720 Adjustments to reconcile Net Income to Net cash from operating activities:
Depreciation and amortization 1,030 976 852 Nuclear fuel amortization 53 58 46 Allowance for equity funds used during construction (23)
(21)
(21)
Deferred income taxes 196 265 237 Equity earnings of equity method investees (102)
(68)
(66)
Dividends from equity method investees 74 68 64 Asset (gains) losses and impairments, net 38 8
107 Changes in assets and liabilities:
Accounts receivable, net (252)
(226) 259 Inventories (4) 37 1
Accounts payable 129 145 (158)
Accrued pension liability (228) 19 (147)
Accrued postretirement liability 25 (192)
(287)
Derivative assets and liabilities (94) 126 47 Regulatory assets and liabilities 217 (40) 85 Other current and noncurrent assets and liabilities (54) 95 177 Net cash from operating activities 2,117 2,084 1,916 Investing Activities Plant and equipment expenditures utility (2,037)
(1,898)
(1,817)
Plant and equipment expenditures non-utility (213)
(147)
(203)
Acquisition, net of cash acquired (1,147)
(241)
Restricted cash for debt redemption, principally Securitization, net (2) 1 97 Proceeds from sale of nuclear decommissioning trust fund assets 1,240 1,457 885 Investment in nuclear decommissioning trust funds (1,226)
(1,463)
(898)
Distributions from equity method investees 10 11 19 Contributions to equity method investees (299)
(239)
(98)
Other (37) 37 52 Net cash used for investing activities (2,564)
(3,388)
(2,204)
Financing Activities Issuance of long-term debt, net of issuance costs 1,398 2,035 956 Redemption of long-term debt (385)
(807)
(286)
Repurchase of long-term debt (59)
Issuance of equity units, net of issuance costs 654
Short-term borrowings, net 122 101 Repurchase of common stock (51)
(33)
Dividends on common stock (592)
(531)
(501)
Contributions from noncontrolling interests 50 114 23 Distributions to noncontrolling interests (40)
(5)
(8)
Other (81)
(9)
(8)
Net cash from financing activities 421 1,359 277 Net Increase (Decrease) in Cash and Cash Equivalents (26) 55 (11)
Cash and Cash Equivalents at Beginning of Period 92 37 48 Cash and Cash Equivalents at End of Period 66 92 37 Supplemental disclosure of cash information Cash paid (received) for:
Interest, net of interest capitalized 495 448 428 Income taxes 4
(1) $
14 Supplemental disclosure of non-cash investing and financing activities
DTE Energy Company Consolidated Statements of Cash Flows (Unaudited)
Nine Months Ended September 30, 2018 2017 (In millions)
Operating Activities Net Income 922 832 Adjustments to reconcile Net Income to Net cash from operating activities:
Depreciation and amortization 826 756 Nuclear fuel amortization 39 39 Allowance for equity funds used during construction (20)
(17)
Deferred income taxes 118 261 Equity earnings of equity method investees (99)
(77)
Dividends from equity method investees 48 55 Asset (gains) losses and impairments, net 11 5
Changes in assets and liabilities:
Accounts receivable, net 85 43 Inventories 11 (41)
Prepaid postretirement benefit costs (45)
Accounts payable 9
25 Accrued pension liability (205)
(230)
Accrued postretirement liability (61)
(30)
Derivative assets and liabilities 24 (133)
Regulatory assets and liabilities 283 260 Other current and noncurrent assets and liabilities 101 (198)
Net cash from operating activities 2,047 1,550 Investing Activities Plant and equipment expenditures utility (1,562)
(1,439)
Plant and equipment expenditures non-utility (217)
(133)
Proceeds from sale of nuclear decommissioning trust fund assets 810 951 Investment in nuclear decommissioning trust funds (810)
(936)
Distributions from equity method investees 8
10 Contributions to equity method investees (545)
(194)
Other (20)
(61)
Net cash used for investing activities (2,336)
(1,802)
Financing Activities Issuance of long-term debt, net of issuance costs 1,433 1,010 Redemption of long-term debt (105)
(385)
Short-term borrowings, net (544) 160 Issuance of common stock 7
Repurchase of common stock (51)
Dividends on common stock (459)
(444)
REF contributions from noncontrolling interests 43 34 Distributions to noncontrolling interests (31)
(29)
Other (40)
(70)
Net cash from financing activities 304 225 Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash 15 (27)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 89 113 Cash, Cash Equivalents, and Restricted Cash at End of Period 104 86 Supplemental disclosure of non-cash investing and financing activities Plant and equipment expenditures in accounts payable 275 222 See Combined Notes to Consolidated Financial Statements (Unaudited) 9