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



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

Cash flows used in operating activities:
  Net earnings...........................  $  19,529   $  21,032
  Adjustments to reconcile net earnings
    to net cash flows from (used in)
    operating activities:
      Depreciation and amortization......     35,939      32,929
      Deferred income taxes..............      4,319      10,643
      Provision for bad debts............     10,533       6,255
      Gain on sale of investment
        securities.......................     (3,633)       --
      Gain on sale of various operations.       --        (2,300)
      Deferral of interest and other
        expenses.........................     (2,449)     (7,221)
      Other..............................      1,168       1,339
      Changes in assets and liabilities,
        net of acquisitions and
        dispositions:
          Accounts receivable, billed
            and unbilled.................    (13,255)     (9,286)
          Accounts payable...............     (2,214)     (4,417)
          Taxes and other liabilities....     (2,333)      1,852 
          Customer deposits..............        556       1,669
          Deferred gas purchase costs....    (16,000)     13,454
          Inventories....................      7,318     (10,138)
          Other..........................      4,076        (726)
                                           ---------   ---------
    Net cash flows from operating
      activities.........................     43,554      55,085
                                           ---------   ---------
Cash flows from (used in) investing
 activities:
  Additions to property, plant and
    equipment............................    (68,003)    (58,784)
  Acquisition of operations, net of
    cash received........................     (1,444)     (1,162)
  Purchase of investment securities......       --       (16,126)
  Litigation settlement proceeds.........       --         4,250
  Increase in customer advances..........      2,122       3,871
  Decrease in deferred charges and
    credits..............................     (2,955)     (5,395)
  Proceeds from sale of various
    operations...........................      1,130      14,770
  Proceeds from sale of land.............        344         752
  Proceeds from sale of investment
    securities...........................     19,858        --
  Other..................................        (29)         54
                                           ---------   ---------
    Net cash flows used in investing
      activities.........................    (48,977)    (57,770)
                                           ---------   ---------
Cash flows (used in) from financing
 activities:
  Repayment of debt......................       (679)    (53,327)
  Net borrowings under revolving credit
   facility..............................      4,800      55,500
  Change in cash overdraft...............        678        --
  Other..................................        624         512
                                           ---------   ---------
    Net cash flows from financing
      activities.........................      5,423       2,685
                                           ---------   ---------
Increase (decrease) in cash and cash
  equivalents............................       --          --
Cash and cash equivalents at beginning
  of period..............................       --          --
                                           ---------   ---------
Cash and cash equivalents at end of
  period.................................  $    --     $    --
                                           =========   =========

Supplemental disclosures of cash flow
  information:
    Cash paid during the period for:
      Interest...........................  $  32,269   $  34,343
                                           =========   =========
      Income taxes.......................  $   5,371   $   5,897
                                           =========   =========

                       See accompanying notes.


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