SEC Filings
10-Q
SOUTHERN UNION CO filed this Form 10-Q on 11/10/1997
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              SOUTHERN UNION COMPANY AND SUBSIDIARIES

               CONSOLIDATED STATEMENT OF CASH FLOWS



                                             Three Months Ended
                                                September 30,
                                           ----------------------
                                              1997        1996
                                           ----------  ----------
                                           (thousands of dollars)

Cash flows used in operating activities:
  Net loss...............................  $  (4,909)  $  (5,405)
  Adjustments to reconcile net loss to
    net cash flows from operating
    activities:
      Depreciation and amortization......      9,598       8,488
      Deferred income taxes..............     (1,492)      1,529
      Provision for bad debts............        350       1,115
      Gain on sale of investment
        securities.......................     (1,088)       --
      Deferral of interest and other
        expenses.........................       (277)     (1,557)
      Other..............................        198         107
      Changes in assets and liabilities,
        net of acquisitions and
        dispositions:
          Accounts receivable, billed
            and unbilled.................     18,348       9,492
          Accounts payable...............    (10,053)    (14,817)
          Taxes and other liabilities....    (13,026)    (13,668)
          Customer deposits..............       (501)        501
          Deferred gas purchase costs....    (28,775)     (6,560)
          Inventories....................    (14,407)    (16,034)
          Other..........................      2,902      (1,882)
                                           ---------   ----------
    Net cash flows used in operating
      activities.........................    (43,132)    (38,691)
                                           ---------   ---------
Cash flows from (used in) investing
  activities:
    Additions to property, plant and
      equipment..........................    (17,008)    (13,468)
    Acquisition of operations, net of
      cash received......................       (745)     (1,162)
    Purchase of investment securities....       --        (5,363)
    Increase in customer advances........      1,056       1,404
    Decrease in deferred charges and
      credits............................     (4,615)     (1,654)
    Proceeds from sale of land...........       --           752
    Proceeds from sale of investment
      securities.........................      6,531        --
    Other................................        309         (19)
                                           ---------   ---------
      Net cash flows used in investing
        activities.......................    (14,472)    (19,510)
                                           ---------   ---------
Cash flows from (used in) financing
  activities:
    Repayment of debt....................       (225)       (186)
    Net borrowings under revolving
      credit facility....................     58,700      55,500
    Change in cash overdraft.............       (889)       --
    Other................................         18        --
                                           ---------   ---------
      Net cash flows used in financing
        activities.......................     57,604      55,314
                                           ---------   ---------
Decrease in cash and cash equivalents....       --        (2,887)
Cash and cash equivalents at beginning
  of period..............................       --         2,887
                                           ---------   ---------
Cash and cash equivalents at end of
  period.................................  $    --     $    --
                                           =========   =========

Supplemental disclosures of cash flow
  information:
    Cash paid during the period for:
      Interest...........................  $  14,994   $  15,007
                                           =========   =========
      Income taxes.......................  $    --     $     500
                                           =========   =========


                   See accompanying notes.


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