22 2004 )  2003) OPERATING ACTIVITIES Net Income $1,089) $110)  Plus: (Income) Loss from Discontinued Operations (83)  605) Income from Continuing Operations  1,006)  715) Depreciation and Amortization  1,300)  1,307) Cumulative Effect of Accounting Changes  — )  (193) Asset Impairments, Investment Value Losses and Other Related Charges 15)  720) Adjustments for Other Noncash Items and Working Capital  276)  (241) Net Cash Flows From Operating Activities  2,597)  2,308) INVESTING ACTIVITIES Construction Expenditures  (1,693)  (1,358) Change in Other Cash Deposits, Net  31)  (91) Investment in Discontinued Operations, Net  (59)  (615) Proceeds from Sale of Assets  1,357)  82) Other  (12)  3) Net Cash Flows Used For Investing Activities  (376)  (1,979) FINANCING ACTIVITIES Issuance of Common Stock  17)  1,142) Change in Long-term Debt, Net  (1,829)  2,054)  Retirement of Preferred Stock  (10) (9) Retirement of Minority Interest  — ) (225) Change in Short-term Debt, Net  (400)  (2,781) Dividends Paid on Common Stock  (555)  (618) Net Cash Flows Used For Financing Activities  (2,777)  (437) Net Decrease in Cash and Cash Equivalents  (556) (108) Cash and Cash Equivalents - Beginning of Period  976)   1,084) Cash and Cash Equivalents - End of Period  $420)  $976) Net Decrease in Cash and Cash Equivalents from Discontinued Operations  $(13)  $(10) Cash and Cash Equivalents from Discontinued Operations - Beginning of Period  13)  23) Cash and Cash Equivalents from Discontinued Operations - End of Period  $ —)  $13) ) AMERICAN ELECTRIC POWER COMPANY, INC. Year Ended December 31 (In Millions) CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS