Condensed Consolidated Statements of Cash Flows – Unaudited

(In Millions)

Nine Months Ended June 30,

2023

2022

Operating Activities:

Net Income

$

248.6

$

227.9

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

189.0

176.2

Deferred income taxes and investment tax credits

55.7

57.0

Changes in assets and liabilities

(99.4)

(262.6)

Other

10.2

6.1

Net cash provided by operating activities

404.1

204.6

Investing Activities:

Capital expenditures

(483.3)

(402.5)

Payment for business acquisition

(37.0)

—

Other

3.9

4.2

Net cash used in investing activities

(516.4)

(398.3)

Financing Activities:

Issuance of long-term debt

755.0

300.0

Repayment of long-term debt

(31.2)

(55.8)

(Repayment) issuance of short-term debt, net

(479.9)

37.2

Issuance of common stock

4.0

51.9

Dividends paid on common stock

(112.5)

(105.9)

Dividends paid on preferred stock

(11.1)

(11.1)

Other

(7.5)

(3.8)

Net cash provided by financing activities

116.8

212.5

Net Increase in Cash, Cash Equivalents, and Restricted Cash

4.5

18.8

Cash, Cash Equivalents, and Restricted Cash at Beginning of Period

20.5

11.3

Cash, Cash Equivalents, and Restricted Cash at End of Period

$

25.0

$

30.1