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.
and
ATLANTA GAS LIGHT COMPANY
(Name of Company)
hereby file with the Securities and Exchange Commission, pursuant to Rule 2,
their respective statements claiming exemption as holding companies from the
provisions of the Public Utility Holding Company Act of 1935, and submit the
following information:
AGL RESOURCES INC.
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:
(a) Atlanta Gas Light Company (AGLC) and its wholly owned subsidiary,
Chattanooga Gas Company (Chattanooga), which are local natural gas
distribution utilities;
(b) AGL Energy Services, Inc. (AGLE), a gas supply services company; and
(c) several nonutility subsidiaries.
<PAGE>
AGLC, a Georgia corporation, is a regulated utility which distributes natural
gas to customers in central, northwest, northeast and southeast Georgia. AGLC
has one regulated natural gas utility subsidiary, Chattanooga, a Tennessee
corporation, which operates a natural gas distribution system in the cities of
Chattanooga and Cleveland, Tennessee and surrounding areas; and
AGLE, a Georgia corporation, buys and sells the natural gas supplied to
AGLC's customers during the transition period in Georgia to full
competition in the retail natural gas market. At the end of this transition
period, AGLC will no longer be engaged in the business of selling natural
gas to retail customers and, instead, will be engaged solely in the
business of distributing gas to customers on behalf of marketers. For
financial reporting purposes, AGLE is considered a subsidiary of AGLC.
Therefore, AGLE will be reported as a subsidiary of the claimant, AGLC for
this reporting period. AGLE has one subsidiary, Georgia Gas Company, a
Georgia corporation, which has minor interests in natural gas production
activities.
AGLR also owns or has an interest in five nonutility subsidiaries, each of which
are Georgia Corporations:
(a) AGL Interstate Pipeline Company (AGL Interstate Pipeline) established
to participate in a joint venture that intends to provide interstate
pipeline services to customers in Georgia and Tennessee;
(b) AGL Peaking Services, Inc. (AGL Peaking Services) established to
participate in a joint venture that intends to construct, own and
operate a liquefied natural gas peaking facility for AGLC and other
southeastern customers;
(c) SouthStar Energy Services LLP (SouthStar), a joint venture established
to sell natural gas, propane, fuel oil, electricity and related
services to industrial, commercial and residential customers in Georgia
and the Southeast;
(d) AGL Investments, Inc. (AGLI) established to develop and manage certain
nonutility businesses. AGLI has five subsidiaries, each of which are
Georgia corporations:
(1) AGL Propane, Inc. (retail propane sales and related products
and services);
(2) AGL Gas Marketing, Inc. (a joint venture partner in a joint
venture engaged in wholesale and retail natural gas
trading);
(3) AGL Power Services, Inc. (a joint venture partner in a joint
venture engaged in wholesale power trading);
(4) Trustees Investments, Inc. (real estate holdings); and
(5) Utilipro, Inc. (sales of integrated customer care solutions
to energy marketers).
(e) AGL Resources Service Company (Service Company) established to provide
corporate support services to AGLR and its subsidiaries.
<PAGE>
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, 1998, the Company had 29,186 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, 1998, Chattanooga had 1,674 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.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
None 185,262,498 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.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
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.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
NA NA
<PAGE>
(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.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
Purchased at State Line Purchased at State Line
or at City Gate or at City Gate
Metering Stations Metering Stations
in Georgia or Tennessee in Georgia or Tennessee
NA 12,681,211 Mcf.
Purchased outside the Purchased outside the
State of Georgia States of Georgia and Tennessee
NA 183,205,227 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
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
None None
(b) Name of each system company that holds an interest in foreign utility
company; and description of the interest held.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
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.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
None None
(d) Capitalization and earnings of the EWG or foreign utility company
during the reporting period.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
None None
<PAGE>
(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).
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
None None
ATLANTA GAS LIGHT COMPANY
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.
Atlanta Gas Light Company (AGLC) is a Georgia corporation organized in 1856
and has its principal executive office at 303 Peachtree Street, Atlanta,
Georgia 30308.
AGLC's principal business is the distribution of natural gas to customers in
central, northwest, northeast and southeast Georgia.
AGLC has one wholly-owned subsidiary, Chattanooga, which operates a natural gas
distribution system in the cities of Chattanooga and Cleveland, Tennessee and
surrounding areas.
AGLC also includes AGLE for financial reporting purposes and for this filing
even though AGLE is a wholly owned subsidiary of AGLR, not AGLC. AGLE buys and
sells the natural gas supplied to AGLC's customers during the transition period
in Georgia to full competition in the retail natural gas market. At the end of
this transition period, AGLC will no longer be engaged in the business of
selling natural gas to retail customers and, instead, will be engaged solely in
the business of distributing gas to customers on behalf of marketers.
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.
(a) Description of 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, 1998, the Company had 29,186
miles of mains and 5,952,000 Mcf. of liquefied natural gas (LNG) storage
capacity in three LNG plants and 269,160 gallons of liquefied petroleum gas
storage capacity in one peak shaving plant located in Georgia to supplement the
gas supply in very cold weather or emergencies.
<PAGE>
(b) Description of properties of Chattanooga:
Chattanooga operates a natural gas distribution system and related
facilities and local offices serving 12 cities and surrounding areas in the
State of Tennessee. As of December 31, 1998, Chattanooga had 1,674 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.
Claimant Subsidiary
AGLC Chattanooga
165,428,515 Mcf. 19,833,983 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.
Claimant Subsidiary
AGLC Chattanooga
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.
Claimant Subsidiary
AGLC Chattanooga
NA NA
<PAGE>
(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.
Claimant Subsidiary
AGLC Chattanooga
Purchased at State Purchased at State
Line or at City Gate Line or at City Gate
Metering Stations Metering Stations
in Georgia in Tennessee
12,681,211 Mcf. None
Purchased outside the Purchased outside the
State of Georgia State of Tennessee
171,568,715 Mcf 11,636,512 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.
Claimant Subsidiary
AGLC Chattanooga
None None
(b) Name of each system company that holds an interest in foreign utility
company; and description of the interest held.
Claimant Subsidiary
AGLC Chattanooga
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.
Claimant Subsidiary
AGLC Chattanooga
None None
(d) Capitalization and earnings of the EWG or foreign utility company during the
reporting period.
Claimant Subsidiary
AGLC Chattanooga
None None
<PAGE>
(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).
Claimant Subsidiary
AGLC Chattanooga
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 A1:
Condensed Consolidating Income Statements (Unaudited) for the Twelve
Months Ended December 31, 1998
Condensed Consolidating Statements of Earnings Reinvested (Unaudited)
for the Twelve Months Ended December 31, 1998
Condensed Consolidating Balance Sheets (Unaudited) as of December 31,
1998
The following financial statements of AGLR's subsidiary, AGL
Investments, Inc. are attached hereto as Exhibit A1-1:
Condensed Consolidating Income Statements (Unaudited) for the Twelve
Months Ended December 31, 1998
Condensed Consolidating Statements of Earnings Reinvested (Unaudited)
for the Twelve Months Ended December 31, 1998
Condensed Consolidating Balance Sheets (Unaudited) as of December 31,
1998
ATLANTA GAS LIGHT COMPANY
The following financial statements of AGLC and its subsidiary companies
are attached hereto as Exhibit A2:
Condensed Consolidating Income Statements (Unaudited) for the Twelve
Months Ended December 31, 1998
Condensed Consolidating Statements of Earnings Reinvested (Unaudited)
for the Twelve Months Ended December 31, 1998
Condensed Consolidating Balance Sheets (Unaudited) as of December 31,
1998
<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 their behalf by their authorized officer on this 1st day of March,
1999.
AGL RESOURCES INC.
and
ATLANTA GAS LIGHT COMPANY
(Name of Claimant)
By: /s/ J. Michael Riley
J. Michael Riley
Senior 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 Senior Vice President and Chief Financial Officer
(Name) (Title)
P.O. Box 4569, Atlanta, Georgia 30302
(Address)
<PAGE>
The above-named claimants have caused this statement to be duly executed
on their behalf by their authorized officer on this 1st day of March, 1999.
AGL RESOURCES INC.
and
ATLANTA GAS LIGHT COMPANY
(Name of Claimant)
By: /s/ J. Michael Riley
J. Michael Riley
Senior 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 Senior Vice President and Chief Financial Officer
(Name) (Title)
P.O. Box 4569, Atlanta, Georgia 30302
(Address)
<PAGE>
<TABLE>
Exhibit A1
AGL RESOURCES INC.
Condensed Consolidating Income Statements (Unaudited)
For the Twelve Months Ended December 31, 1998
(Millions)
<CAPTION>
AGL AGL Consolidated
Resources Inc. Atlanta AGL Resources Reclassifi- AGL
Before AGL Utility AGL Gas Light Peaking Capital Service cations and Resources,
Consolidation Operations Investments Services Services Trust Company Eliminations Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Operating Revenues ($0.1) $1,224.5 $21.4 $24.4 $0.0 $0.0 $0.0 ($10.2) $1,260.0
Cost of Sales - 705.1 6.5 23.8 - - - (8.9) 726.5
- -----------------------------------------------------------------------------------------------------------------------------------
Operating Margin (0.1) 519.4 14.9 0.6 - - - (1.3) 533.5
- -----------------------------------------------------------------------------------------------------------------------------------
Operating and
Maintenance Expenses 0.1 258.5 12.1 5.1 0.1 - (3.6) (1.4) 270.9
Depreciation and
Amortization - 63.9 3.3 (0.5) - - 6.2 - 72.9
Taxes Other Than Income 0.4 24.2 0.9 0.1 - - 1.7 - 27.3
- -----------------------------------------------------------------------------------------------------------------------------------
Operating Expenses 0.5 346.6 16.3 4.7 0.1 - 4.3 (1.4) 371.1
- -----------------------------------------------------------------------------------------------------------------------------------
Operating Income (0.6) 172.8 (1.4) (4.1) (0.1) - (4.3) 0.1 162.4
- -----------------------------------------------------------------------------------------------------------------------------------
Other Income-Net (6.4) 5.9 (4.5) (2.6) 0.4 6.3 1.5 (0.9) (0.3)
- -----------------------------------------------------------------------------------------------------------------------------------
Income Before Interest,
Preferred Stock Dividends
and Income Taxes (7.0) 178.7 (5.9) (6.7) 0.3 6.3 (2.8) (0.8) 162.1
- -----------------------------------------------------------------------------------------------------------------------------------
Interest Expense 7.6 51.8 - 0.4 - - 0.9 (6.3) 54.4
Dividends Preferred Stock (1.5) (0.3) - - - 6.3 - 1.4 5.9
- -----------------------------------------------------------------------------------------------------------------------------------
Income Before Income Taxes (13.1) 127.2 (5.9) (7.1) 0.3 - (3.7) 4.1 101.8
- -----------------------------------------------------------------------------------------------------------------------------------
Income Taxes (4.0) 41.5 (2.3) (2.7) 0.1 - (1.4) (0.1) 31.1
Minority Interest - - (0.1) - - - - - (0.1)
- -----------------------------------------------------------------------------------------------------------------------------------
Net Income ($9.1) $85.7 ($3.5) ($4.4) $0.2 $0.0 ($2.3) $4.2 $70.8
===================================================================================================================================
</TABLE>
Page 1 of 4
<PAGE>
<TABLE>
Exhibit A1
AGL RESOURCES INC.
Condensed Consolidating Statements of Earnings Reinvested (Unaudited)
For the Twelve Months Ended December 31, 1998
(Millions)
<CAPTION>
AGL AGL Consolidated
Resources Inc. Atlanta AGL Resources Reclassifi- AGL
Before AGL Utility AGL Gas Light Peaking Capital Service cations and Resources,
Consolidation Operations Investments Services Services Trust Company Eliminations Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Earnings Reinvested at
Beginning of Period ($4.2) $165.3 $2.0 $0.2 $0.1 $0.0 $2.0 $0.4 $165.8
Net Income (9.1) 85.7 (3.5) (4.4) 0.2 - (2.3) 4.2 70.8
- -----------------------------------------------------------------------------------------------------------------------------------
Total (13.3) 251.0 (1.5) (4.2) 0.3 - (0.3) 4.6 236.6
- -----------------------------------------------------------------------------------------------------------------------------------
Dividends on Common Stock 61.7 - 61.7
- -----------------------------------------------------------------------------------------------------------------------------------
Earnings Reinvested at
End of Period ($75.0) $251.0 ($1.5) ($4.2) $0.3 $0.0 ($0.3) $4.6 $174.9
===================================================================================================================================
Page 2 of 4
</TABLE>
<PAGE>
<TABLE>
Exhibit A1
AGL RESOURCES INC.
Condensed Consolidating Balance Sheets (Unaudited)
as of December 31, 1998
(Millions)
<CAPTION>
AGL AGL Consolidated
Resources Inc. Atlanta AGL Resources Reclassifi- AGL
Before AGL Utility AGL Gas Light Peaking Capital Service cations and Resources,
Consolidation Operations Investments Services Services Trust Company Eliminations Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Current Assets
Cash $16.4 ($16.6) $2.8 ($2.6) $0.0
Receivables 0.2 158.1 2.8 1.9 0.2 0.8 1.3 (1.1) 164.2
Intercompany Receivables 212.4 709.5 8.5 (8.2) 181.0 (1,103.2) -
Unbilled Revenue A/R 50.4 - 50.4
Inventories:
Natural Gas Stored
Underground 106.4 - 106.4
LNG Stored 16.0 - 16.0
Materials and Supplies 8.2 - 8.2
Other 0.1 2.6 1.6 4.3
Deferred Purchased Gas
Adjustments 3.3 - 3.3
Other Current Assets 1.3 0.1 0.3 0.3 2.0
- ----------------------------------------------------------------------------------------------------------------------------------
Total Current Assets 230.3 1,035.5 17.0 (4.7) 0.2 0.8 180.0 (1,104.3) 354.8
- ----------------------------------------------------------------------------------------------------------------------------------
Investment and Equity in
Associated Company 443.9 - - 77.3 (521.2) -
- ----------------------------------------------------------------------------------------------------------------------------------
Property, Plant, and
Equipment
Utility Plant 2,150.3 - 2,150.3
Less Accumulated
Depreciation (694.7) (694.7)
- ----------------------------------------------------------------------------------------------------------------------------------
Utility Plant - Net - 1,455.6 - - - - - - 1,455.6
- ----------------------------------------------------------------------------------------------------------------------------------
Nonutility Property 0.5 3.1 32.2 2.9 78.0 (2.7) 114.0
Less Accumulated
Depreciation (1.8) (7.0) (18.1) (0.2) (27.1)
- ----------------------------------------------------------------------------------------------------------------------------------
Nonutility Property - Net 0.5 1.3 25.2 - 2.9 - 59.9 (2.9) 86.9
- ----------------------------------------------------------------------------------------------------------------------------------
Total Property, Plant, and
Equipment - Net 0.5 1,456.9 25.2 - 2.9 - 59.9 (2.9) 1,542.5
- ----------------------------------------------------------------------------------------------------------------------------------
Deferred Debits and Other Assets
Unrecovered Environmental
Response Costs 76.9 - 76.9
Investments in Joint Ventures 3.7 0.4 34.2 3.4 41.7
Other 25.3 6.7 (0.3) 0.1 0.6 32.4
- ----------------------------------------------------------------------------------------------------------------------------------
Total Deferred Debits and
Other Assets 3.7 102.6 40.9 3.1 0.1 - 0.6 - 151.0
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Total Assets $678.4 $2,595.0 $83.1 ($1.6) $3.2 $78.1 $240.5 ($1,628.4) $2,048.3
==================================================================================================================================
</TABLE>
Page 3 of 4
<PAGE>
Exhibit A1
<TABLE>
AGL RESOURCES INC.
Condensed Consolidating Balance Sheets (Unaudited)
as of December 31, 1998
(Millions)
<CAPTION>
AGL AGL Consolidated
Resources Inc. Atlanta AGL Resources Reclassifi- AGL
Before AGL Utility AGL Gas Light Peaking Capital Service cations and Resources,
Consolidation Operations Investments Services Services Trust Company Eliminations Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
LIABILITIES
Current Liabilities
Accounts Payable $4.3 $64.9 $2.1 ($0.3) $71.0
Short-Term Debt 111.6 - 1.4 113.0
Intercompany Payables 78.5 788.5 32.8 2.9 0.1 1.0 199.7 (1,103.5) -
Customer Deposits 31.7 - 31.7
Interest 0.8 21.6 - (0.8) 21.6
Deferred Purchased Gas
Adjustments 8.4 - 8.4
Other Accrued Liabilities (1.9) 14.7 0.1 0.1 0.6 6.1 (0.1) 19.6
Other Current Liabilities 0.2 42.8 0.9 0.4 44.3
- ----------------------------------------------------------------------------------------------------------------------------------
Total Current Liabilities 193.5 972.6 37.3 3.0 0.1 1.6 205.9 (1,104.4) 309.6
- ----------------------------------------------------------------------------------------------------------------------------------
Accumulated Deferred
Income Tax 0.5 197.0 5.0 (0.5) 0.1 4.9 - 207.0
- ----------------------------------------------------------------------------------------------------------------------------------
Long-Term Liabilities
Accrued Pension Costs 3.9 - 3.9
Accrued Environmental
Response Costs 47.0 - 47.0
Accrued Other Postretirement
Benefits Costs 41.1 - (7.2) 33.9
Other - (0.2) (0.2)
- ----------------------------------------------------------------------------------------------------------------------------------
Total Long-Term Liabilities - 92.0 (0.2) - - - (7.2) - 84.6
- ----------------------------------------------------------------------------------------------------------------------------------
Deferred Credits
Unamortized Investment Tax Credit 25.5 - 25.5
Regulatory Tax Liability 17.0 - 17.0
Other Deferred Credits 11.8 - 11.8
- ----------------------------------------------------------------------------------------------------------------------------------
Total Deferred Credits 54.3 - - - - - - 54.3
- ----------------------------------------------------------------------------------------------------------------------------------
Equity Investment from Parent 366.0 42.4 0.1 2.7 37.2 (448.4) -
- ----------------------------------------------------------------------------------------------------------------------------------
Capitalization
Long-Term Debt 77.3 660.0 (77.3) 660.0
Preferred Securities - 74.3 74.3
Common Stockholders' Equity -
Common Stock 287.6 - 0.1 2.2 (2.2) 287.7
Premium on Common Stock 194.5 2.1 (0.7) 195.9
Earnings Reinvested (75.0) 251.0 (1.5) (4.2) 0.3 (0.3) 4.6 174.9
- ----------------------------------------------------------------------------------------------------------------------------------
Total Capitalization 484.4 913.1 (1.4) (4.2) 0.3 76.5 (0.3) (75.6) 1,392.8
- ----------------------------------------------------------------------------------------------------------------------------------
Total Liabilities and
Capitalization $678.4 $2,595.0 $83.1 ($1.6) $3.2 $78.1 $240.5 ($1,628.4) $2,048.3
==================================================================================================================================
</TABLE>
Page 4 of 4
<PAGE>
Exhibit A1-1
<TABLE>
AGL INVESTMENTS INC.
Condensed Consolidating Income Statements (Unaudited)
For the Twelve Months Ended December 31, 1998
(Millions)
<CAPTION>
AGL AGL AGL AGL
AGL Consumer Energy Wise AGL Power Gas Georgia Reclass AGL
Investments Services, Trustees Services, Propane, Services, Market- Energy and Investments
Corporate Inc. Investments Inc. Inc. Utilipro Inc. ing, Inc. Company Elimination Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Operating Revenues ($0.1) $0.4 $0.0 $0.0 $28.0 $1.5 $0.0 $0.0 $0.0 ($8.4) $21.4
Cost of Sales - - - - 15.3 - - - - (8.8) 6.5
- -----------------------------------------------------------------------------------------------------------------------------------
Operating Margin (0.1) 0.4 - - 12.7 1.5 - - - 0.4 14.9
- -----------------------------------------------------------------------------------------------------------------------------------
Operating and
Maintenance Expenses 1.1 0.4 0.3 0.3 7.6 2.9 3.0 10.3 - (13.8) 12.1
Depreciation and
Amortization 0.3 - - - 1.9 0.1 0.4 2.6 - (2.0) 3.3
Taxes Other Than Income 0.1 - - - 0.8 - - - - - 0.9
- -----------------------------------------------------------------------------------------------------------------------------------
Operating Expenses 1.5 0.4 0.3 0.3 10.3 3.0 3.4 12.9 - (15.8) 16.3
- -----------------------------------------------------------------------------------------------------------------------------------
Operating Income (1.6) - (0.3) (0.3) 2.4 (1.5) (3.4) (12.9) - 16.2 (1.4)
- -----------------------------------------------------------------------------------------------------------------------------------
Other Income-Net (5.0) - 0.5 (0.3) 0.1 - 4.0 9.5 - (13.3) (4.5)
- -----------------------------------------------------------------------------------------------------------------------------------
Income Before Interest,
Preferred Stock Divi-
dends, and Income Taxes (6.6) - 0.2 (0.6) 2.5 (1.5) 0.6 (3.4) - 2.9 (5.9)
- -----------------------------------------------------------------------------------------------------------------------------------
Interest Expense - - - - - - - - - -
Dividends Preferred Stock - - - - - - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Income Before Income Taxes (6.6) - 0.2 (0.6) 2.5 (1.5) 0.6 (3.4) - 2.9 (5.9)
- -----------------------------------------------------------------------------------------------------------------------------------
Income Taxes (3.0) - 0.1 (0.2) 1.0 (0.6) 0.2 (1.2) - 1.4 (2.3)
Minority Interest I/S - - - - - (0.1) - - - - (0.1)
- -----------------------------------------------------------------------------------------------------------------------------------
Net Income ($3.6) $0.0 $0.1 ($0.4) $1.5 ($0.8) $0.4 ($2.2) $0.0 $1.5 ($3.5)
===================================================================================================================================
</TABLE>
Page 1 of 4
<PAGE>
Exhibit A1-1
<TABLE>
AGL Investments, Inc.
Condensed Consolidating Statements of Earnings Reinvested (Unaudited)
For the Twelve Months Ended December 31, 1998
(Millions)
<CAPTION>
AGL AGL AGL AGL
AGL Consumer Energy Wise AGL Power Gas Georgia Reclass AGL
Investments Services, Trustees Services, Propane, Services, Market- Energy and Investments
Corporate Inc. Investments Inc. Inc. Utilipro Inc. ing, Inc. Company Elimination ,Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Earnings Reinvested at
Beginning of Period $1.9 $0.1 $0.1 ($0.1) $1.7 $0.0 ($1.1) $4.0 ($0.6) ($4.0) $2.0
Net Income (3.6) - 0.1 (0.4) 1.5 (0.8) 0.4 (2.2) - 1.5 (3.5)
- ----------------------------------------------------------------------------------------------------------------------------------
Total (1.7) 0.1 0.2 (0.5) 3.2 (0.8) (0.7) 1.8 (0.6) (2.5) (1.5)
- ----------------------------------------------------------------------------------------------------------------------------------
Dividends on Common Stock - -
- ----------------------------------------------------------------------------------------------------------------------------------
Earnings Reinvested at
End of Period ($1.7) $0.1 $0.2 ($0.5) $3.2 ($0.8) ($0.7) $1.8 ($0.6) ($2.5) ($1.5)
==================================================================================================================================
</TABLE>
Page 2 of 4
<PAGE>
Exhibit A1-1
<TABLE>
AGL Investments, Inc.
Condensed Consolidating Balance Sheets (Unaudited)
as of December 31, 1998
(Millions)
<CAPTION>
AGL AGL AGL AGL
AGL Consumer Energy Wise AGL Power Gas Georgia Reclass AGL
Investments Services, Trustees Services, Propane, Services, Market- Energy and Investments
Corporate Inc. Investments Inc. Inc. Utilipro Inc. ing, Inc. Company Elimination ,Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Current Assets
Cash ($0.3) $3.1 $2.8
Receivables 0.1 0.1 2.1 0.5 2.8
Intercompany Receivables 6.9 4.4 2.8 0.2 (2.7) 0.3 0.7 0.1 0.4 (4.6) 8.5
Unbilled Revenue A/R -
Inventories:
Natural Gas Stored
Underground -
LNG Stored -
Materials and Supplies -
Other 2.6 2.6
Deferred Purchased Gas
Adjustments -
Other Current Assets 0.1 0.2 0.3
- -----------------------------------------------------------------------------------------------------------------------------------
Total Current Assets 6.6 4.5 2.9 0.3 5.3 0.8 0.7 0.1 0.4 (4.6) 17.0
- -----------------------------------------------------------------------------------------------------------------------------------
Investment and Equity
Associated Company 27.0 (27.0) -
- -----------------------------------------------------------------------------------------------------------------------------------
Property, Plant, and
Equipment
Utility Plant
Less Accumulated Depre-
ciation
- -----------------------------------------------------------------------------------------------------------------------------------
Utility Plant - Net - - - - - - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Nonutility Property 3.7 0.1 27.7 0.5 0.2 32.2
Less Accumulated Depre-
ciation (2.6) (4.2) (0.2) (7.0)
- -----------------------------------------------------------------------------------------------------------------------------------
Nonutility Property-Net - - 1.1 0.1 23.5 0.5 - - - - 25.2
- -----------------------------------------------------------------------------------------------------------------------------------
Total Property, Plant,
and Equipment - Net - - 1.1 0.1 23.5 0.5 - - - - 25.2
- -----------------------------------------------------------------------------------------------------------------------------------
Deferred Debits and
Other Assets
Unrecovered Environmental
Response Costs -
Investments in Joint
Ventures 30.6 2.0 13.4 (11.8) 34.2
Other 0.1 7.1 0.4 0.5 14.5 (15.9) 6.7
- -----------------------------------------------------------------------------------------------------------------------------------
Total Deferred Debits
and Other Assets 30.6 - - 0.1 7.1 0.4 2.5 27.9 - (27.7) 40.9
- -----------------------------------------------------------------------------------------------------------------------------------
Total Assets $64.2 $4.5 $4.0 $0.5 $35.9 $1.7 $3.2 $28.0 $0.4 ($59.3) $83.1
===================================================================================================================================
</TABLE>
Page 3 of 4
<PAGE>
Exhibit A1-1
<TABLE>
AGL Investments, Inc.
Condensed Consolidating Balance Sheets (Unaudited)
as of December 31, 1998
(Millions)
<CAPTION>
AGL AGL AGL AGL
AGL Consumer Energy Wise AGL Power Gas Georgia Reclass AGL
Investments Services, Trustees Services, Propane, Services, Market- Energy and Investments
Corporate Inc. Investments Inc. Inc. Utilipro Inc. ing, Inc. Company Elimination ,Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
LIABILITIES
Current Liabilities
Accounts Payable $0.4 $0.2 $0.6 $0.9 $2.1
Short-Term Debt 1.4 1.4
Intercompany Payables 25.9 4.4 1.3 0.5 0.1 5.0 0.2 (4.6) 32.8
Customer Deposits -
Interest -
Deferred Purchased Gas
Adjustments -
Other Accrued Liabilities (0.7) (0.2) 0.1 0.1 1.1 (0.3) (0.2) (1.5) 1.7 0.1
Other Current Liabilities 0.3 0.4 0.2 0.9
- ----------------------------------------------------------------------------------------------------------------------------------
Total Current Liabilities 25.6 4.4 1.4 0.9 3.5 0.7 (0.2) 3.5 0.4 (2.9) 37.3
- ----------------------------------------------------------------------------------------------------------------------------------
Accumulated Deferred
Income Tax - - 0.3 (0.1) 4.9 - 0.5 (2.3) - 1.7 5.0
- ----------------------------------------------------------------------------------------------------------------------------------
Long-Term Liabilities
Accrued Pension Costs -
Accrued Environmental
Response Costs -
Accrued Other Postretirement
Benefits Costs -
Other (0.2) (0.2)
- ----------------------------------------------------------------------------------------------------------------------------------
Total Long-Term Liabilities - - - - - (0.2) - - - - (0.2)
- ----------------------------------------------------------------------------------------------------------------------------------
Deferred Credits
Unamortized Investment
Tax Credit -
Regulatory Tax Liability -
Other Deferred Credits -
- ----------------------------------------------------------------------------------------------------------------------------------
Total Deferred Credits - - - - - - - - - - -
- ----------------------------------------------------------------------------------------------------------------------------------
Equity Investment
from Parent 40.3 2.1 0.2 1.2 3.6 25.0 0.6 (30.6) 42.4
- ----------------------------------------------------------------------------------------------------------------------------------
Capitalization
Long-Term Debt
Preferred Securities 0.7 (0.7)
Common Stockholders'Equity
Common Stock 24.3 0.1 (24.3) 0.1
Premium on Common Stock
Earnings Reinvested (1.7) 0.1 0.2 (0.5) 3.2 (0.8) (0.7) 1.8 (0.6) (2.5) (1.5)
- ----------------------------------------------------------------------------------------------------------------------------------
Total Capitalization (1.7) 0.1 0.2 (0.5) 27.5 - (0.7) 1.8 (0.6) (27.5) (1.4)
- ----------------------------------------------------------------------------------------------------------------------------------
Total Liabilities and
Capitalization $64.2 $4.5 $4.0 $0.5 $35.9 $1.7 $3.2 $28.0 $0.4 ($59.3) $83.1
==================================================================================================================================
</TABLE>
Page 4 of 4
<PAGE>
Exhibit A2
<TABLE>
ATLANTA GAS LIGHT UTILITY OPERATIONS
Condensed Consolidating Income Statements (Unaudited)
For the Twelve Months Ended December 31, 1998
(Millions)
<CAPTION>
Atlanta Gas Light Chattanooga AGL Energy Georgia Gas Reclassifications Atlanta Gas Light
Company Gas Company Services, Inc. Company and Eliminations Utility Operations
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues $970.7 $73.6 $180.2 $0.0 $1,224.5
Cost of Sales 490.8 41.6 172.7 - 705.1
- -------------------------------------------------------------------------------------------------------------------------------
Operating Margin 479.9 32.0 7.5 - - 519.4
- -------------------------------------------------------------------------------------------------------------------------------
Operating and Maintenance
Expenses 243.7 13.6 1.2 - 258.5
Depreciation and
Amortization 58.7 5.3 (0.1) 63.9
Taxes Other Than Income 20.3 3.8 0.1 - 24.2
- --------------------------------------------------------------------------------------------------------------------------------
Operating Expenses 322.7 22.7 1.3 - (0.1) 346.6
- --------------------------------------------------------------------------------------------------------------------------------
Operating Income 157.2 9.3 6.2 - 0.1 172.8
- --------------------------------------------------------------------------------------------------------------------------------
Other Income-Net 14.2 0.6 (0.3) (2.3) (6.3) 5.9
- --------------------------------------------------------------------------------------------------------------------------------
Income Before Interest,
Preferred Stock Dividends,
and Income Taxes 171.4 9.9 5.9 (2.3) (6.2) 178.7
- --------------------------------------------------------------------------------------------------------------------------------
Interest Expense 51.8 - - 51.8
Dividends Preferred Stock (0.3) - (0.3)
- --------------------------------------------------------------------------------------------------------------------------------
Income Before Income Taxes 119.9 9.9 5.9 (2.3) (6.2) 127.2
- --------------------------------------------------------------------------------------------------------------------------------
Income Taxes 37.8 3.6 2.3 (2.2) - 41.5
Minority Interest I/S
- --------------------------------------------------------------------------------------------------------------------------------
Net Income $82.1 $6.3 $3.6 ($0.1) ($6.2) $85.7
================================================================================================================================
</TABLE>
Page 1 of 4
<PAGE>
Exhibit A2
<TABLE>
ATLANTA GAS LIGHT UTILITY OPERATIONS
Condensed Consolidating Statements of Earnings Reinvested (Unaudited)
For the Twelve Months Ended December 31, 1998
(Millions)
<CAPTION>
Atlanta Gas Light Chattanooga AGL Energy Georgia Gas Reclassifications Atlanta Gas Light
Company Gas Company Services, Inc. Company and Eliminations Utility Operations
<S> <C> <C> <C> <C> <C> <C>
Earnings Reinvested at
Beginning of Period $162.6 $36.3 $2.7 $3.6 ($39.9) $165.3
Net Income 82.1 6.3 3.6 (0.1) (6.2) 85.7
- -----------------------------------------------------------------------------------------------------------------------------
Total 244.7 42.6 6.3 3.5 (46.1) 251.0
- -----------------------------------------------------------------------------------------------------------------------------
Dividends on Common Stock - - - - - -
- -----------------------------------------------------------------------------------------------------------------------------
Earnings Reinvested
at End of Period $244.7 $42.6 $6.3 $3.5 ($46.1) $251.0
=============================================================================================================================
</TABLE>
Page 2 of 4
<PAGE>
Exhibit A2
<TABLE>
ATLANTA GAS LIGHT UTILITY OPERATIONS
Condensed Consolidating Balance Sheets (Unaudited)
as of December 31, 1998
(Millions)
Atlanta Gas Light Chattanooga AGL Energy Georgia Gas Reclassifications Atlanta Gas Light
Company Gas Company Services, Inc. Company and Eliminations Utility Operations
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Current Assets
Cash ($16.1) ($0.5) $0.0 ($16.6)
Receivables 148.1 9.3 0.7 158.1
Intercompany Receivables 520.7 13.4 207.9 2.5 (35.0) 709.5
Unbilled Revenue A/R 44.8 5.6 50.4
Inventories:
Natural Gas Stored
Underground 99.4 7.0 106.4
LNG Stored 13.8 2.2 16.0
Materials and Supplies 7.9 0.3 8.2
Other 0.1 0.1
Deferred Purchased Gas
Adjustment - 3.3 3.3
Other Current Assets 0.1 0.1
- -------------------------------------------------------------------------------------------------------------------------------
Total Current Assets 818.7 40.7 208.6 2.5 (35.0) 1,035.5
- -------------------------------------------------------------------------------------------------------------------------------
Investment and Equity
Associated Company 77.9 3.5 - (81.4) -
- -------------------------------------------------------------------------------------------------------------------------------
Property, Plant, and
Equipment
Utility Plant 1,996.3 154.0 2,150.3
Less Accumulated Depre-
ciation (642.3) (52.4) (694.7)
- --------------------------------------------------------------------------------------------------------------------------------
Utility Plant - Net 1,354.0 101.6 - - - 1,455.6
- --------------------------------------------------------------------------------------------------------------------------------
Nonutility Property 0.8 0.4 1.9 3.1
Less Accumulated Depre-
ciation (0.1) (1.7) (1.8)
- --------------------------------------------------------------------------------------------------------------------------------
Nonutility Property-Net 0.8 - 0.3 0.2 - 1.3
- --------------------------------------------------------------------------------------------------------------------------------
Total Property, Plant,
and Equipment - Net 1,354.8 101.6 0.3 0.2 - 1,456.9
- --------------------------------------------------------------------------------------------------------------------------------
Deferred Debits and
Other Assets
Unrecovered Environmental
Response Costs 76.9 76.9
Investments in Joint
Ventures 0.4 0.4
Other 21.2 0.3 3.6 0.2 25.3
- --------------------------------------------------------------------------------------------------------------------------------
Total Deferred Debits
and Other Assets 98.1 0.3 3.6 0.6 - 102.6
- --------------------------------------------------------------------------------------------------------------------------------
Total Assets $2,349.5 $142.6 $216.0 $3.3 ($116.4) $2,595.0
================================================================================================================================
</TABLE>
Page 3 of 4
<PAGE>
Exhibit A2
<TABLE>
ATLANTA GAS LIGHT UTILITY OPERATIONS
Condensed Consolidating Balance Sheets (Unaudited)
as of December 31, 1998
(Millions)
Atlanta Gas Light Chattanooga AGL Energy Georgia Gas Reclassifications Atlanta Gas Light
Company Gas Company Services, Inc. Company and Eliminations Utility Operations
<S> <C> <C> <C> <C> <C> <C>
LIABILITIES
Current Liabilities
Accounts Payable $59.7 $5.0 ($0.3) $0.5 $64.9
Short-Term Debt -
Intercompany Payables 574.3 44.6 205.1 (35.5) 788.5
Customer Deposits 29.8 1.9 31.7
Interest 20.9 0.7 21.6
Deferred Purchased Gas
Adjustments (Credit) 8.4 8.4
Other Accrued Liabilities 9.2 4.4 1.3 (0.2) 14.7
Other Current Liabilities 41.0 1.8 - 42.8
- --------------------------------------------------------------------------------------------------------------------------------
Total Current Liabilities 743.3 58.4 206.1 (0.2) (35.0) 972.6
- --------------------------------------------------------------------------------------------------------------------------------
Accumulated Deferred
Income Tax 192.4 4.6 - - 197.0
- --------------------------------------------------------------------------------------------------------------------------------
Long-Term Liabilities
Accrued Pension Costs 4.1 (0.2) 3.9
Accrued Environmental
Response Costs 47.0 47.0
Accrued Other Postretire-
ment Benefits Costs 39.6 1.5 41.1
Other -
- --------------------------------------------------------------------------------------------------------------------------------
Total Long-Term Liabilities 90.7 1.3 - - - 92.0
- --------------------------------------------------------------------------------------------------------------------------------
Deferred Credits
Unamortized Investment
Tax Credit 25.5 25.5
Regulatory Tax Liability 17.0 17.0
Other Deferred Credits 11.4 0.4 11.8
- --------------------------------------------------------------------------------------------------------------------------------
Total Deferred Credits 53.9 0.4 - - - 54.3
- --------------------------------------------------------------------------------------------------------------------------------
Equity Investment from Parent 362.4 3.6 - 366.0
- --------------------------------------------------------------------------------------------------------------------------------
Capitalization
Long-Term Debt 660.0 35.3 (35.3) 660.0
Preferred Securities -
Common Stockholders' Equity
Common Stock -
Premium on Common Stock 2.1 2.1
Earnings Reinvested 244.7 42.6 6.3 3.5 (46.1) 251.0
- --------------------------------------------------------------------------------------------------------------------------------
Total Capitalization 906.8 77.9 6.3 3.5 (81.4) 913.1
- --------------------------------------------------------------------------------------------------------------------------------
Total Liabilities and
Capitalization $2,349.5 $142.6 $216.0 $3.3 ($116.4) $2,595.0
================================================================================================================================
</TABLE>
Page 4 of 4
<PAGE>
[TYPE] EX-27
[DESCRIPTION] OPUR3 FDS FOR FORM U-3A-2
[ARTICLE] OPUR3
[NAME] AGL RESOURCES INC.
[MULTIPLIER] 1,000,000
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] SEP-30-1999
[PERIOD-START] JAN-01-1998
[PERIOD-END] DEC-31-1998
[BOOK-VALUE] PER-BOOK
[TOTAL-ASSETS] 2048
[TOTAL-OPERATING-REVENUES] 1260
[NET-INCOME] 71
<PAGE>
[TYPE] EX-27
[DESCRIPTION] OPUR3 FDS FOR FORM U-3A-2
[ARTICLE] OPUR3
[NAME] ATLANTA GAS LIGHT COMPANY
[MULTIPLIER] 1,000,000
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] SEP-30-1999
[PERIOD-START] JAN-01-1998
[PERIOD-END] DEC-31-1998
[BOOK-VALUE] PER-BOOK
[TOTAL-ASSETS] 2595
[TOTAL-OPERATING-REVENUES] 1225
[NET-INCOME] 86
