UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form U-3A-2
File No. . . . . .69-348
Statement by Holding Company Claiming Exemption Under Rule U-3A-2 from the
Provisions of the Public Utility Holding Company Act of 1935
To be Filed Annually Prior to March 1
AGL RESOURCES INC.
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to Rule 2,
its statement claiming exemption as a holding company from the provisions of the
Public Utility Holding Company Act of 1935, and submits the following
information:
1. Name, State of organization, location and nature of business of claimant and
every subsidiary thereof, other than any exempt wholesale generator (EWG) or
foreign utility company in which claimant directly or indirectly holds an
interest.
AGL Resources Inc.("AGLR") is a Georgia corporation incorporated on November 27,
1995 and has its principal executive offices at 303 Peachtree Street, Atlanta,
Georgia 30308.
AGLR was incorporated primarily for the purpose of becoming the holding company
for Atlanta Gas Light Company ("AGLC"), a natural gas distribution utility, and
its subsidiaries.
AGLR has five wholly-owned subsidiaries, each of which are Georgia corporations:
(a) AGLC, a regulated public utility, which distributes natural gas to
customers in central, northwest, northeast and southeast Georgia. AGLC
has one regulated natural gas utility subsidiary, Chattanooga Gas
Company ("Chattanooga"), a Tennessee corporation, which operates a
natural gas distribution system in the cities of Chattanooga and
Cleveland, Tennessee and surrounding areas;
<PAGE>
(b) AGL Energy Services, Inc. ("AGL Energy Services"), a nonregulated gas
supply services company. AGL Energy Services has one nonregulated
subsidiary, Georgia Gas Company, a Georgia corporation, which has minor
interests in natural gas production activities;
(c) AGL Investments, Inc. ("AGL Investments"), a nonregulated subsidiary,
established to develop and manage certain nonregulated businesses. AGL
Investments has seven nonregulated subsidiaries, each of which is a
Georgia corporation:
(1) AGL Propane, Inc. (retail propane sales);
(2) AGL Energy Wise Services, Inc. (energy management services to
commercial and industrial markets);
(3) AGL Consumer Services, Inc. (consumer products and services);
(4) AGL Gas Marketing, Inc. (natural gas sales, transportation, risk
management and storage services);
(5) AGL Power Services, Inc. (power marketing and related services)
(6) Trustees Investments, Inc. (real estate holdings); and
(7) Georgia Energy Company (natural gas vehicle conversion services);
(d) AGL Resources Service Company ("Service Company"), a nonregulated
subsidiary that provides corporate support services to AGL Resources
and its subsidiaries; and
(e) The Energy Spring, Inc., a nonregulated retail energy marketing
company. The Energy Spring, Inc. has one nonregulated subsidiary, TES,
Inc., a Georgia corporation.
2. A brief description of the properties of claimant and each of its subsidiary
public utility companies used for the generation, transmission, and distribution
of electric energy for sale, or for the production, transmission and
distribution of natural or manufactured gas, indicating the location of
principal generating plants, transmission lines, producing fields, gas
manufacturing plants, and electric and gas distribution facilities, including
all such properties which are outside the State in which claimant and its
subsidiaries are organized and all transmission or pipelines which deliver or
receive electric energy or gas at the borders of such State.
AGLR's properties consist primarily of the utility properties of AGLC.
AGLC's properties consist primarily of natural gas distribution systems and
related facilities and local offices serving 231 cities and surrounding areas in
the State of Georgia. As of December 31, 1997, the Company had 28,726 miles of
mains, 5,952,000 Mcf. of liquefied natural gas ("LNG") storage capacity in three
LNG plants located in Georgia and 269,160 gallons of liquefied petroleum gas
storage capacity in one peak shaving plant located in Georgia. AGLC's
wholly-owned subsidiary, Chattanooga, operates a natural gas distribution system
and related facilities and local offices in 12 cities and surrounding areas in
the State of Tennessee. As of December 31, 1997, Chattanooga had 1,657 miles of
mains and 1,076,000 Mcf. of LNG storage capacity in its one LNG plant located in
Tennessee.
3. The following information for the last calendar year with respect to claimant
and each of its subsidiary public utility companies:
(a) Number of kwh. of electric energy sold (at retail or wholesale), and
Mcf. of natural or manufactured gas distributed at retail.
<PAGE>
Claimant Subsidiary Subsidiary
AGL Resources Inc. Atlanta Gas Light Company Chattanooga Gas Co.
None 157,321,181 Mcf. 25,546,234 Mcf.
(b) Number of kwh. of electric energy and Mcf. of natural or manufactured
gas distributed at retail outside the State in which each company is
organized.
NA NA NA
(c) Number of kwh. of electric energy and Mcf. of natural or manufactured
gas sold at wholesale outside the State in which each such company is
organized, or at the State line.
NA NA NA
(d) Number of kwh. of electric energy and Mcf. of natural or manufactured
gas purchased outside the State in which each such company is organized or
at the State line.
Purchased at State Line Purchased at State Line
or at City Gate or at City Gate
Metering Stations Metering Stations
in Georgia in Tennessee
NA 10,617,678 Mcf. None
Purchased outside the Purchased outside the
State of Georgia State of Tennessee
NA 150,897,015 Mcf. 18,988,919 Mcf.
4. The following information for the reporting period with respect to
claimant and each interest it holds directly or indirectly in an EWG or a
foreign utility company, stating monetary amounts in United States dollars:
(a) Name, location, business address and description of the facilities used
by the EWG or foreign utility company for the generation, transmission and
distribution of electric energy for sale or for the distribution at retail
of natural or manufactured gas.
NA None None
<PAGE>
(b) Name of each system company that holds an interest in foreign utility
company; and description of the interest held.
None None None
(c) Type and amount of capital invested, directly or indirectly, by the holding
company claiming exemption; any direct or indirect guarantee of the security of
the EWG or foreign utility company by the holding company claiming exemption;
and any debt or other financial obligation for which there is recourse, directly
or indirectly, to the holding company claiming exemption or another system
company, other than the EWG or foreign utility company.
None None None
(d) Capitalization and earnings of the EWG or foreign utility company during the
reporting period.
None None None
(e) Identify any service, sales or construction contract(s) between the EWG or
foreign utility company and a system company, and describe the services to be
rendered or goods sold and fees or revenues under such agreement(s).
None None None
<PAGE>
EXHIBIT A
A consolidating statement of income and surplus of the claimant and its
subsidiary companies for the last calendar year, together with a consolidating
balance sheet of claimant and its subsidiary companies as of the close of such
calendar year.
AGL RESOURCES INC.
The following financial statements of AGLR and its subsidiary companies are
attached hereto as Exhibit A:
Condensed Consolidating Income Statements (Unaudited) for the Twelve
Months Ended December 31, 1997
Condensed Consolidating Earnings Reinvested Statements (Unaudited) for
the Twelve Months Ended December 31, 1997
Condensed Consolidated Balance Sheets (Unaudited) as of
December 31, 1997
<PAGE>
EXHIBIT B. Financial Data Schedule
If, at the time a report on this form is filed, the registrant is required
to submit this report and any amendments thereto electronically via EDGAR, the
registrant shall furnish a Financial Data Schedule. The Schedule shall set forth
the financial and other data specified below that are applicable to the
registrant on a consolidated basis.
Item No. Caption Heading
1 Total Assets
2 Total Operating Revenues
3 Net Income
<PAGE>
EXHIBIT C
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding-company system.
None
<PAGE>
The above-named claimants have caused this statement to be duly executed on
its behalf by its authorized officer on this 4th day of March, 1998.
AGL RESOURCES INC.
(Name of Claimant)
By: /s/ J. Michael Riley
J. Michael Riley
Vice President and
Chief Financial Officer
CORPORATE SEAL
Attest: /s/ Melanie M. Platt
Melanie M. Platt
Vice President and
Corporate Secretary
Name, title, and address of officer to whom notices and correspondence
concerning this statement should be addressed:
J. Michael Riley Vice President and Chief Financial Officer
(Name) (Title)
P.O. Box 4569, Atlanta, Georgia 30302
(Address)
<PAGE>
<TABLE>
AGL RESOURCES INC. AND SUBSIDIARIES
Condensed Consolidating Income Statements (Unaudited)
For the Twelve Months Ended December 31, 1997
(Millions)
<CAPTION>
AGL Atlanta Chatta- AGL AGL AGL The Reclassifications
Resources Gas nooga Energy Invest- Resources AGL Energy and
before Light Gas Services, ments, Service Capital Spring, Eliminations Consolidated
consolidation Company Company Inc. Inc. Company Trust Inc. Debit Credit Balances
----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Operating Revenues $0.0 $1,132.0 $97.2 $17.6 $29.1 $0.0 $0.0 $61.4 $27.0 $0.0 $1,310.3
Cost of Gas 660.0 67.1 12.3 19.0 59.3 25.2 792.5
----------------------------------------------------------------------------------------------------------------
Operating Margin 0.0 472.0 30.1 5.3 10.1 2.1 517.8
----------------------------------------------------------------------------------------------------------------
Other
Operating Expenses 1.4 317.7 21.5 1.8 13.2 (1.8) 1.7 0.4 1.8 354.1
----------------------------------------------------------------------------------------------------------------
Operating Income (1.4) 154.3 8.6 3.5 (3.1) 1.8 0.4 163.7
----------------------------------------------------------------------------------------------------------------
Other Income 2.9 15.7 (0.2) 0.3 5.8 (0.1) 3.5 15.1 0.4 13.2
----------------------------------------------------------------------------------------------------------------
Income Before
Interest and Taxes 1.5 170.0 8.4 3.8 2.7 1.7 3.5 0.4 176.9
----------------------------------------------------------------------------------------------------------------
Interest Expense 3.5 52.2 1.1 4.1 52.7
Dividends on
Preferred Stock 3.4 4.1 0.0 7.5
----------------------------------------------------------------------------------------------------------------
Income Before
Income Taxes (5.4) 113.7 7.3 3.8 2.7 1.7 3.5 0.4 116.7
----------------------------------------------------------------------------------------------------------------
Income Taxes (2.7) 43.4 2.8 1.3 1.1 0.6 0.2 5.4 8.2 43.9
----------------------------------------------------------------------------------------------------------------
Net Income ($2.7) $70.3 $4.5 $2.5 $1.6 $1.1 $3.5 $0.2 $72.8
================================================================================================================
Exhibit A
Page 1 of 4
</TABLE>
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<TABLE>
AGL RESOURCES INC. AND SUBSIDIARIES
Condensed Consolidating Earnings Reinvested Statements (Unaudited)
For the Twelve Months Ended December 31, 1997
(Millions)
<CAPTION>
AGL Atlanta Chatta- AGL AGL AGL The Reclassifications
Resources Gas nooga Energy Invest- Resources AGL Energy and
before Light Gas Services, ments, Service Capital Spring, Eliminations Consolidated
consolidation Company Company Inc. Inc. Company Trust Inc. Debit Credit Balances
---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Earnings Reinvested
at Beginning
of Period ($0.7) $153.0 $32.0 $0.2 $0.4 $0.9 $0.0 ($0.1) $32.0 $0.0 $153.7
Net Income (2.7) 70.3 4.5 2.5 1.6 1.1 3.5 0.2 17.4 9.2 72.8
---------------------------------------------------------------------------------------------------------------
Total (3.4) 223.3 36.5 2.7 2.0 2.0 3.5 0.1 226.5
---------------------------------------------------------------------------------------------------------------
Dividends
Common Stock 0.1 60.8 0.1 60.8
Adjustments
to Retained
Earnings 0.7 0.7 0.0
---------------------------------------------------------------------------------------------------------------
Total 0.8 60.8 0.0 0.0 0.0 0.0 0.0 0.0 60.8
---------------------------------------------------------------------------------------------------------------
Earnings Reinvested
at End of Period ($4.2) $162.5 $36.5 $2.7 $2.0 $2.0 $3.5 $0.1 $49.4 $10.0 $165.7
===============================================================================================================
Page 2 of 4
</TABLE>
<PAGE>
<TABLE>
AGL RESOURCES INC. AND SUBSIDIARIES
Condensed Consolidating Balance Sheets (Unaudited)
as of December 31, 1997
(Millions)
<CAPTION>
AGL Atlanta Chatta- AGL AGL AGL The Reclassifications
Resources Gas nooga Energy Invest- Resources AGL Energy and Consol-
before Light Gas Services, ments, Service Capital Spring, Eliminations idated
consolidation Company Company Inc. Inc. Company Trust Inc. Debit Credit Balances
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Current Assets
Cash ($0.2) $9.2 $0.9 $0.2 $0.8 ($8.9) $0.0 $8.9 $0.0 $3.0 $7.9
Receivables-Net 3.6 196.7 19.0 2.9 5.3 1.9 3.5 7.4 6.8 21.3 225.8
Receivables
from Assoc.
Companies 113.6 188.3 1.5 8.8 5.1 113.7 20.9 451.9 0.0
Inventories
Natural Gas
Stored Underground 103.9 5.4 109.3
Liquefied
Natural Gas 14.5 2.2 1.0 17.7
Materials
and Supplies 5.7 0.4 0.6 6.7
Other 4.7 1.6 6.3
Deferred
Purchased
Gas Adjustment 29.3 3.8 33.1
Other 1.4 0.1 0.1 0.3 1.9
------------------------------------------------------------------------------------------------------------
Total
Current Assets 118.4 547.6 29.5 11.9 16.6 107.0 3.5 17.9 408.7
------------------------------------------------------------------------------------------------------------
Property, Plant
and Equipment
Utility Plant 1,943.3 150.2 2.2 2,091.3
Less Accumulated
Depreciation 612.1 49.7 0.4 661.4
------------------------------------------------------------------------------------------------------------
Utility Plant-Net 1,331.2 100.5 1,429.9
------------------------------------------------------------------------------------------------------------
Nonutility Property 445.6 82.4 5.1 63.3 74.7 77.3 0.2 0.1 640.5 108.2
Less Accumulated
Depreciation 0.2 1.8 5.2 23.6 0.1 30.9
------------------------------------------------------------------------------------------------------------
Nonutility
Property - Net 445.4 82.4 3.3 58.1 51.1 77.3 0.1 77.3
------------------------------------------------------------------------------------------------------------
Total Property,
Plant and
Equipment - Net 445.4 1,413.6 100.5 3.3 58.1 51.1 77.3 0.1 1,507.2
------------------------------------------------------------------------------------------------------------
Deferred Debits and
Other Assets
Unrecovered
Environmental
Response Costs 53.3 53.3
Investment in
Joint Ventures 37.2 37.2
Other 0.9 25.6 4.2 4.1 1.0 15.6 7.6 43.8
------------------------------------------------------------------------------------------------------------
Total
Deferred Debits 0.9 78.9 4.2 0.0 4.1 1.0 134.3
------------------------------------------------------------------------------------------------------------
Total $564.7 $2,040.1 $134.2 $15.2 $78.8 $159.1 $80.8 $18.0 $2,050.2
============================================================================================================
Page 3 of 4
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<PAGE>
<TABLE>
AGL RESOURCES INC. AND SUBSIDIARIES
Condensed Consolidating Balance Sheets (Unaudited) (Continued)
as of December 31, 1997
(Millions)
<CAPTION>
AGL Atlanta Chatta- AGL AGL AGL The Reclassifications
Resources Gas nooga Energy Invest- Resources AGL Energy and Consol-
before Light Gas Services, ments, Service Capital Spring, Eliminations idated
consolidation Company Company Inc. Inc. Company Trust Inc. Debit Credit Balances
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Current Liabilities
Short-Term Debt $0.0 $149.0 $10.0 $0.0 $1.5 $0.0 $0.0 $0.0 $10.0 $0.0 $150.5
Accounts Payable 0.5 81.8 34.2 1.6 (1.6) 10.7 30.6 96.6
Accounts Payable to
Assoc. Companies 18.5 225.5 8.4 26.6 113.1 6.2 404.2 5.9 0.0
Customer Deposits 29.7 1.9 31.6
Interest 3.5 19.5 0.6 4.4 19.2
Other 0.4 43.7 10.4 0.5 0.1 0.1 1.9 0.9 7.3 9.0 59.7
------------------------------------------------------------------------------------------------------------
Total
Current
Liabilities 22.9 549.2 57.1 8.9 29.8 111.6 1.9 17.8 357.6
------------------------------------------------------------------------------------------------------------
Accumulated Deferred
Income Taxes 0.8 188.7 4.7 0.0 4.1 8.3 36.7 18.7 188.6
------------------------------------------------------------------------------------------------------------
Long-Term Liabilities
Accrued Pension Costs (1.3) 1.3 0.0
Accrued Postretirement
Benefits Costs 35.4 1.5 36.9
Accrued Environmental
Response Costs 37.3 37.3
Deferred Credits 48.8 0.8 0.4 8.2 17.9 59.7
------------------------------------------------------------------------------------------------------------
Total
Long-Term
Liabilities 120.2 0.8 0.4 133.9
------------------------------------------------------------------------------------------------------------
Capitalization
Long-Term Debt 660.0 35.3 0.1 35.4 660.0
Subsidiary Obligated
Manditorily Redeemable
Preferred Securities 77.3 75.0 78.0 74.3
Equity Investment
from Parent 357.2 3.6 42.5 37.2 440.5 0.0
Common Stock 284.0 2.3 279.1 276.8 284.0
Premium on
Capital Stock 183.9 2.2 163.6 163.6 186.1
Earnings Reinvested (4.2) 162.6 36.3 2.7 2.0 2.0 1.6 0.1 122.7 85.3 165.7
------------------------------------------------------------------------------------------------------------
Total
Common
Stock Equity 463.7 522.0 36.3 6.3 44.5 39.2 3.9 0.1 635.8
------------------------------------------------------------------------------------------------------------
Total
Capitalization 541.0 1,182.0 71.6 6.3 44.5 39.2 78.9 0.2 1,370.1
------------------------------------------------------------------------------------------------------------
Total $564.7 $2,040.1 $134.2 $15.2 $78.8 $159.1 $80.8 $18.0 $2,050.2
============================================================================================================
Page 4 of 4
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<PAGE>
[TYPE] EX-27
[DESCRIPTION] OPUR3 FDS FOR FORM U-3A-2
[ARTICLE] OPUR3
[NAME] AGL RESOURCES INC.
[MULTIPLIER] 1,000,000
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] SEP-30-1998
[PERIOD-START] JAN-01-1997
[PERIOD-END] DEC-31-1997
[BOOK-VALUE] PER-BOOK
[TOTAL-ASSETS] 2050
[TOTAL-OPERATING-REVENUES] 1310
[NET-INCOME] 73
</TABLE>
