<PAGE>
EXHIBIT D-3
AGL Resources Inc.
Consolidating Balance Sheet
As of September 30, 2000
(Millions)
<TABLE>
<CAPTION>
AGL Resources Inc. Atlanta Gas Light
Consolidated Eliminations AGL Resources Inc. Company
--------------------------------------------------------------------------------
ASSETS
Current Assets
<S> <C> <C> <C> <C>
Cash and cash equivalents $ 2.0 - - -
Receivables
Gas 29.9 - - 22.0
Other 13.4 (2.6) (1.1) 2.2
Intercompany receivables/(payables) - - 194.8 (156.7)
Unbilled revenues 1.7 - - -
------------------------------------------------------------------------------------------------------------------------------------
Total receivables 45.0 (2.6) 193.7 (132.5)
------------------------------------------------------------------------------------------------------------------------------------
Refundable income taxes 8.1 - 8.1
Inventories
Natural gas stored underground 27.7 - - 19.7
Liquefied natural gas 2.1 - - -
Materials and supplies 6.2 - - 6.0
Other 1.2 - - -
------------------------------------------------------------------------------------------------------------------------------------
Total inventories 37.2 - - 25.7
------------------------------------------------------------------------------------------------------------------------------------
Other current assets 7.4 - 1.5 -
------------------------------------------------------------------------------------------------------------------------------------
Total current assets 99.7 (2.6) 195.2 (98.7)
------------------------------------------------------------------------------------------------------------------------------------
Investment and Equity in Associated Company 0.0 (374.3) 238.6 38.9
------------------------------------------------------------------------------------------------------------------------------------
Property, Plant, and Equipment
Utility plant 2,371.5 - - 2,215.8
Less accumulated depreciation (791.8) - - (733.0)
------------------------------------------------------------------------------------------------------------------------------------
Utility plant - net 1,579.7 - - 1,482.8
------------------------------------------------------------------------------------------------------------------------------------
Non-utility property 88.2 - 75.2 1.1
Less accumulated depreciation (30.4) - (24.4) (0.1)
------------------------------------------------------------------------------------------------------------------------------------
Non-utility property - net 57.8 - 50.8 1.0
------------------------------------------------------------------------------------------------------------------------------------
Total property, plant, and
equipment 1,637.5 - 50.8 1,483.8
------------------------------------------------------------------------------------------------------------------------------------
Deferred Debits and Other Assets
Unrecovered environmental response costs 164.6 - - 164.6
Investments in joint ventures 78.8 (2.7) 2.7 -
Unrecovered postretirement benefits costs 7.9 - - 7.9
Other 31.4 - 4.7 25.4
------------------------------------------------------------------------------------------------------------------------------------
Total deferred debits and other
assets 282.7 (2.7) 7.4 197.9
------------------------------------------------------------------------------------------------------------------------------------
Total Assets $2,019.9 $(379.6) $492.0 $1,621.9
====================================================================================================================================
</TABLE>
Exhibit D-3, page 1
<PAGE>
AGL Resources Inc.
Consolidating Balance Sheet
As of September 30, 2000
(Millions)
<TABLE>
<CAPTION>
Chattanooga Gas AGL Energy Services, Georgia Natural Gas AGL Investments,
Company Inc. Company Inc.
---------------------------------------------------------------------------------
ASSETS
Current Assets
<S> <C> <C> <C> <C>
Cash and cash equivalents - $ 0.1 - $ 1.6
Receivables
Gas 6.3 1.6 - -
Other 0.1 0.1 1.9 0.7
Intercompany receivables/(payables) (17.8) 13.8 (59.8) 34.3
Unbilled revenues 1.7 - - -
------------------------------------------------------------------------------------------------------------------------------------
Total receivables (9.7) 15.5 (57.9) 35.0
------------------------------------------------------------------------------------------------------------------------------------
Refundable income taxes
Inventories
Natural gas stored underground 8.0 - - -
Liquefied natural gas 2.1 - - -
Materials and supplies 0.2 - - -
Other - - 1.2 -
------------------------------------------------------------------------------------------------------------------------------------
Total inventories 10.3 - 1.2 -
------------------------------------------------------------------------------------------------------------------------------------
Other current assets 5.6 - - -
------------------------------------------------------------------------------------------------------------------------------------
Total current assets 6.2 15.6 (56.7) 36.6
------------------------------------------------------------------------------------------------------------------------------------
Investment and Equity in Associated Company - - - 19.5
------------------------------------------------------------------------------------------------------------------------------------
Property, Plant, and Equipment
Utility plant 155.7 - - -
Less accumulated depreciation (58.8) - - -
------------------------------------------------------------------------------------------------------------------------------------
Utility plant - net 96.9 - - -
------------------------------------------------------------------------------------------------------------------------------------
Non-utility property - 0.4 - 1.5
Less accumulated depreciation - (0.1) - (0.3)
------------------------------------------------------------------------------------------------------------------------------------
Non-utility property - net - 0.3 - 1.2
------------------------------------------------------------------------------------------------------------------------------------
Total property, plant, and
equipment 96.9 0.3 - 1.2
------------------------------------------------------------------------------------------------------------------------------------
Deferred Debits and Other Assets
Unrecovered environmental response costs - - - -
Investments in joint ventures - - 39.8 -
Unrecovered postretirement benefits costs - - - -
Other 0.7 0.1 - -
------------------------------------------------------------------------------------------------------------------------------------
Total deferred debits and other
assets 0.7 0.1 39.8 -
------------------------------------------------------------------------------------------------------------------------------------
Total Assets $103.8 $16.0 $(16.9) $57.3
====================================================================================================================================
</TABLE>
Exhibit D-3, page 2
<PAGE>
AGL Resources Inc.
Consolidating Balance Sheet
As of September 30, 2000
(Millions)
<TABLE>
<CAPTION>
AGL Propane AGL Consumer Trustees
Services, Inc. Utilipro Inc. Services, Inc. Investments, Inc.
-------------------------------------------------------------------
<S> <C> <C> <C> <C>
ASSETS
Current Assets
Cash and cash equivalents - $ 0.3 - -
Receivables
Gas - - - -
Other 1.3 8.4 0.1 -
Intercompany receivables/(payables) (0.1) (13.2) 0.3 1.9
Unbilled revenues - - - -
--------------------------------------------------------------------------------------------------------------------------------
Total receivables 1.2 (4.8) 0.4 1.9
--------------------------------------------------------------------------------------------------------------------------------
Refundable income taxes
Inventories
Natural gas stored underground - - - -
Liquefied natural gas - - - -
Materials and supplies - - - -
Other - - - -
--------------------------------------------------------------------------------------------------------------------------------
Total inventories - - - -
--------------------------------------------------------------------------------------------------------------------------------
Other current assets - 0.3 - -
--------------------------------------------------------------------------------------------------------------------------------
Total current assets 1.2 (4.2) 0.4 1.9
--------------------------------------------------------------------------------------------------------------------------------
Investment and Equity in Associated Company - - - -
--------------------------------------------------------------------------------------------------------------------------------
Property, Plant, and Equipment
Utility plant - - - -
Less accumulated depreciation - - - -
--------------------------------------------------------------------------------------------------------------------------------
Utility plant - net - - - -
--------------------------------------------------------------------------------------------------------------------------------
Non-utility property - 4.5 - 3.5
Less accumulated depreciation - (1.1) - (2.7)
--------------------------------------------------------------------------------------------------------------------------------
Non-utility property - net - 3.4 - 0.8
--------------------------------------------------------------------------------------------------------------------------------
Total property, plant, and
equipment - 3.4 - 0.8
--------------------------------------------------------------------------------------------------------------------------------
Deferred Debits and Other Assets
Unrecovered environmental response costs - - - -
Investments in joint ventures 35.1 - - -
Unrecovered postretirement benefits costs - - - -
Other - 0.1 - -
--------------------------------------------------------------------------------------------------------------------------------
Total deferred debits and other
assets 35.1 0.1 - -
--------------------------------------------------------------------------------------------------------------------------------
Total Assets $36.3 $(0.7) $0.4 $ 2.7
================================================================================================================================
</TABLE>
Exhibit D-3, page 3
<PAGE>
AGL Resources Inc.
Consolidating Balance Sheet
As of September 30, 2000
(Millions)
<TABLE>
<CAPTION>
Georgia Gas AGL Peaking
AGL Capital Trust AGL Networks, LLC Company Services, Inc.
-----------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ASSETS
Current Assets
Cash and cash equivalents - - - -
Receivables
Gas - - - -
Other 2.1 - - 0.2
Intercompany receivables/(payables) (0.8) 1.9 2.6 (0.8)
Unbilled revenues - - - -
------------------------------------------------------------------------------------------------------------------------------------
Total receivables 1.3 1.9 2.6 (0.6)
------------------------------------------------------------------------------------------------------------------------------------
Refundable income taxes
Inventories
Natural gas stored underground - - - -
Liquefied natural gas - - - -
Materials and supplies - - - -
Other - - - -
------------------------------------------------------------------------------------------------------------------------------------
Total inventories - - - -
------------------------------------------------------------------------------------------------------------------------------------
Other current assets - - - -
------------------------------------------------------------------------------------------------------------------------------------
Total current assets 1.3 1.9 2.6 (0.6)
------------------------------------------------------------------------------------------------------------------------------------
Investment and Equity in Associated Company 77.3 - - -
------------------------------------------------------------------------------------------------------------------------------------
Property, Plant, and Equipment
Utility plant - - - -
Less accumulated depreciation - - - -
------------------------------------------------------------------------------------------------------------------------------------
Utility plant - net - - - -
------------------------------------------------------------------------------------------------------------------------------------
Non-utility property - - 1.9 -
Less accumulated depreciation - - (1.7) -
------------------------------------------------------------------------------------------------------------------------------------
Non-utility property - net - - 0.2 -
------------------------------------------------------------------------------------------------------------------------------------
Total property, plant, and
equipment - - 0.2 -
------------------------------------------------------------------------------------------------------------------------------------
Deferred Debits and Other Assets
Unrecovered environmental response costs - - - -
Investments in joint ventures - - 0.4 3.5
Unrecovered postretirement benefits costs - - - -
Other - 0.1 0.2 -
------------------------------------------------------------------------------------------------------------------------------------
Total deferred debits and other
assets - 0.1 0.6 3.5
------------------------------------------------------------------------------------------------------------------------------------
Total Assets $78.6 $2.0 $ 3.4 $ 2.9
====================================================================================================================================
</TABLE>
Exhibit D-3, page 4
<PAGE>
AGL Resources Inc.
Consolidating Balance Sheet
As of September 30, 2000
(Millions)
<TABLE>
<CAPTION>
AGL Energy Wise
Services, Inc.
-----------------
<S> <C>
ASSETS
Current Assets
Cash and cash equivalents -
Receivables
Gas -
Other -
Intercompany receivables/(payables) (0.4)
Unbilled revenues -
-------------------------------------------------------------------------------------------------------------------
Total receivables (0.4)
-------------------------------------------------------------------------------------------------------------------
Refundable income taxes
Inventories
Natural gas stored underground -
Liquefied natural gas -
Materials and supplies -
Other -
-------------------------------------------------------------------------------------------------------------------
Total inventories -
-------------------------------------------------------------------------------------------------------------------
Other current assets -
-------------------------------------------------------------------------------------------------------------------
Total current assets (0.4)
-------------------------------------------------------------------------------------------------------------------
Investment and Equity in Associated Company -
-------------------------------------------------------------------------------------------------------------------
Property, Plant, and Equipment
Utility plant -
Less accumulated depreciation
-------------------------------------------------------------------------------------------------------------------
Utility plant - net -
-------------------------------------------------------------------------------------------------------------------
Non-utility property 0.1
Less accumulated depreciation -
-------------------------------------------------------------------------------------------------------------------
Non-utility property - net 0.1
-------------------------------------------------------------------------------------------------------------------
Total property, plant, and
equipment 0.1
-------------------------------------------------------------------------------------------------------------------
Deferred Debits and Other Assets
Unrecovered environmental response costs -
Investments in joint ventures -
Unrecovered postretirement benefits costs -
Other 0.1
-------------------------------------------------------------------------------------------------------------------
Total deferred debits and other
assets 0.1
-------------------------------------------------------------------------------------------------------------------
Total Assets $(0.2)
===================================================================================================================
</TABLE>
Exhibit D-3, page 5
<PAGE>
AGL Resources Inc.
Consolidating Balance Sheet
As of September 30, 2000
(Millions)
<TABLE>
<CAPTION>
AGL Resources Inc. Atlanta Gas Light
Consolidated Eliminations AGL Resources Inc. Company
----------------------------------------------------------------------------
LIABILITIES AND CAPITALIZATION
Current Liabilities
<S> <C> <C> <C> <C>
Short-term debt $ 141.2 - $ 141.2 -
Accounts payable - trade 34.0 - 7.5 16.2
Interest 21.5 (2.6) 2.2 20.7
Current portion of long-term debt 20.0 - - 20.0
Wages and salaries 15.3 - 12.4 2.8
Other accrued liabilities 20.2 (0.1) 3.4 22.8
Customer deposits 1.8 - - 0.2
Other 30.8 - 11.7 15.6
------------------------------------------------------------------------------------------------------------------------------------
Total current liabilities 284.8 (2.7) 178.4 98.3
------------------------------------------------------------------------------------------------------------------------------------
Accumulated Deferred Income Taxes 249.6 - 0.6 231.6
------------------------------------------------------------------------------------------------------------------------------------
Long-Term Liabilities
Accrued environmental response costs 111.7 - - 111.7
Accrued postretirement benefits costs 31.9 - 0.3 30.1
Accrued pension costs 6.7 - 2.3 4.7
Capital leases 1.0 - - -
------------------------------------------------------------------------------------------------------------------------------------
Total long-term liabilities 151.3 - 2.6 146.5
------------------------------------------------------------------------------------------------------------------------------------
Deferred Credits
Unamortized investment tax credit 23.2 - - 23.2
Regulatory tax liability 15.5 - - 18.0
Other 10.3 - 1.2 8.9
------------------------------------------------------------------------------------------------------------------------------------
Total deferred credits 49.0 - 1.2 50.1
------------------------------------------------------------------------------------------------------------------------------------
Capitalization
Long-term debt 590.0 (77.3) 77.3 590.0
Subsidiary obligated mandatorily
redeemable preferred securities 74.3 (0.7) - -
Common stockholders' equity
Common stock 289.1 (279.2) 289.1 276.8
Premium on common stock 200.2 (264.5) 198.5 165.8
Earnings reinvested 197.8 244.8 (189.5) 62.8
Shares held in treasury (at cost) (66.2) - (66.2) -
------------------------------------------------------------------------------------------------------------------------------------
Total common stockholders' equity 620.9 (298.9) 231.9 505.4
------------------------------------------------------------------------------------------------------------------------------------
Total capitalization 1,285.2 (376.9) 309.2 1,095.4
------------------------------------------------------------------------------------------------------------------------------------
Total Liabilities and Capitalization $2,019.9 $(379.6) $ 492.0 $1,621.9
====================================================================================================================================
</TABLE>
Exhibit D-3, page 6
<PAGE>
AGL Resources Inc.
Consolidating Balance Sheet
As of September 30, 2000
(Millions)
<TABLE>
<CAPTION>
Chattanooga Gas AGL Energy Services, Georgia Natural
Company Inc. Gas Company AGL Investments, Inc.
--------------- -------------------- --------------- ---------------------
<S> <C> <C> <C> <C>
LIABILITIES AND CAPITALIZATION
Current Liabilities
Short-term debt - - - -
Accounts payable - trade 5.8 2.3 - -
Interest 0.7 - - -
Current portion of long-term debt - - - -
Wages and salaries 0.1 - - -
Other accrued liabilities 0.8 0.7 (8.8) (0.5)
Customer deposits 1.6 - - -
Other 1.4 - - 0.2
------------------------------------------------------------------------------------------------------------------------------------
Total current liabilities 10.4 3.0 (8.8) (0.3)
------------------------------------------------------------------------------------------------------------------------------------
Accumulated Deferred Income Taxes 10.6 - 0.4 (0.1)
------------------------------------------------------------------------------------------------------------------------------------
Long-Term Liabilities
Accrued environmental response costs - - - -
Accrued postretirement benefits costs 1.5 - - -
Accrued pension costs (0.2) - - (0.1)
Capital leases - - - -
-----------------------------------------------------------------------------------------------------------------------------------
Total long-term liabilities 1.3 - - (0.1)
-----------------------------------------------------------------------------------------------------------------------------------
Deferred Credits
Unamortized investment tax credit - - - -
Regulatory tax liability (2.5) - - -
Other 0.3 - - -
-----------------------------------------------------------------------------------------------------------------------------------
Total deferred credits (2.2) - - -
-----------------------------------------------------------------------------------------------------------------------------------
Capitalization
Long-term debt - - - -
Subsidiary obligated mandatorily
redeemable preferred securities - - - -
Common stockholders' equity
Common stock - - 0.1 -
Premium on common stock 35.3 3.6 - 40.0
Earnings reinvested 48.4 9.4 (8.6) 17.8
Shares held in treasury (at cost) - - - -
-----------------------------------------------------------------------------------------------------------------------------------
Total common stockholders' equity 83.7 13.0 (8.5) 57.8
-----------------------------------------------------------------------------------------------------------------------------------
Total capitalization 83.7 13.0 (8.5) 57.8
-----------------------------------------------------------------------------------------------------------------------------------
Total Liabilities and Capitalization $103.8 $16.0 ($16.9) $57.3
===================================================================================================================================
</TABLE>
Exhibit D-3, Page 7
<PAGE>
AGL Resources Inc.
Consolidating Balance Sheet
As of September 30, 2000
(Millions)
<TABLE>
<CAPTION>
AGL Propane AGL Consumer Trustees
Services, Inc. Utilipro Inc. Services, Inc. Investments, Inc.
----------------------------------------------------------------------
<S> <C> <C> <C> <C>
LIABILITIES AND CAPITALIZATION
Current Liabilities
Short-term debt - - - -
Accounts payable - trade - 2.1 0.1 -
Interest - 0.5 - -
Current portion of long-term debt - - - -
Wages and salaries - - - -
Other accrued liabilities 0.2 (0.5) - 0.3
Customer deposits - - - -
Other 0.8 0.9 - -
-----------------------------------------------------------------------------------------------------------------------
Total current liabilities 1.0 3.0 0.1 0.3
-----------------------------------------------------------------------------------------------------------------------
Accumulated Deferred Income Taxes 7.2 (0.7) - -
-----------------------------------------------------------------------------------------------------------------------
Long-Term Liabilities
Accrued environmental response costs - - - -
Accrued postretirement benefits costs - - - -
Accrued pension costs - - - -
Capital leases - 1.0 - -
-----------------------------------------------------------------------------------------------------------------------
Total long-term liabilities - 1.0 - -
-----------------------------------------------------------------------------------------------------------------------
Deferred Credits
Unamortized investment tax credit - - - -
Regulatory tax liability - - - -
Other - (0.1) - -
-----------------------------------------------------------------------------------------------------------------------
Total deferred credits - (0.1) - -
-----------------------------------------------------------------------------------------------------------------------
Capitalization
Long-term debt - - - -
Subsidiary obligated mandatorily
redeemable preferred securities - 0.7 - -
Common stockholders' equity
Common stock - - - -
Premium on common stock 11.4 3.0 - 2.2
Earnings reinvested 16.7 (7.6) 0.3 0.2
Shares held in treasury (at cost) - - - -
-----------------------------------------------------------------------------------------------------------------------
Total common stockholders' equity 28.1 (4.6) 0.3 2.4
-----------------------------------------------------------------------------------------------------------------------
Total capitalization 28.1 (3.9) 0.3 2.4
-----------------------------------------------------------------------------------------------------------------------
Total Liabilities and Capitalization $36.3 $(0.7) $0.4 $2.7
=======================================================================================================================
</TABLE>
Exhibit D-3, page 8
<PAGE>
AGL Resources Inc.
Consolidating Balance Sheet
As of September 30, 2000
(Millions)
<TABLE>
<CAPTION>
Georgia Gas AGL Peaking
AGL Capital Trust AGL Networks, LLC Company Services, Inc.
----------------------------------------------------------------------
<S> <C> <C> <C> <C>
LIABILITIES AND CAPITALIZATION
Current Liabilities
Short-term debt - - - -
Accounts payable - trade - - - -
Interest - - - -
Current portion of long-term debt - - - -
Wages and salaries - - - -
Other accrued liabilities 2.1 - (0.1) (0.1)
Customer deposits - - - -
Other - - - -
------------------------------------------------------------------------------------------------------------------
Total current liabilities 2.1 - (0.1) (0.1)
------------------------------------------------------------------------------------------------------------------
Accumulated Deferred Income Taxes - - - 0.1
------------------------------------------------------------------------------------------------------------------
Long-Term Liabilities
Accrued environmental response costs - - - -
Accrued postretirement benefits costs - - - -
Accrued pension costs - - - -
Capital leases - - - -
------------------------------------------------------------------------------------------------------------------
Total long-term liabilities - - - -
------------------------------------------------------------------------------------------------------------------
Deferred Credits
Unamortized investment tax credit - - - -
Regulatory tax liability - - - -
Other - - - -
------------------------------------------------------------------------------------------------------------------
Total deferred credits - - - -
------------------------------------------------------------------------------------------------------------------
Capitalization
Long-term debt - - - -
Subsidiary obligated mandatorily
redeemable preferred securities 74.3 - - -
Common stockholders' equity
Common stock 2.3 - - -
Premium on common stock - 2.0 - 2.7
Earnings reinvested (0.1) - 3.5 0.2
Shares held in treasury (at cost) - - - -
------------------------------------------------------------------------------------------------------------------
Total common stockholders' equity 2.2 2.0 3.5 2.9
------------------------------------------------------------------------------------------------------------------
Total capitalization 76.5 2.0 3.5 2.9
------------------------------------------------------------------------------------------------------------------
Total Liabilities and Capitalization $78.6 $2.0 $3.4 $2.9
==================================================================================================================
</TABLE>
Exhibit D-3, page 9
<PAGE>
AGL Resources Inc.
Consolidating Balance Sheet
As of September 30, 2000
(Millions)
<TABLE>
<CAPTION>
AGL Energy Wise
Services, Inc.
---------------
<S> <C>
LIABILITIES AND CAPITALIZATION
Current Liabilities
Short-term debt -
Accounts payable - trade -
Interest -
Current portion of long-term debt -
Wages and salaries -
Other accrued liabilities -
Customer deposits -
Other 0.2
--------------------------------------------------------------------------------------------------------
Total current liabilities 0.2
--------------------------------------------------------------------------------------------------------
Accumulated Deferred Income Taxes (0.1)
--------------------------------------------------------------------------------------------------------
Long-Term Liabilities
Accrued environmental response costs -
Accrued postretirement benefits costs -
Accrued pension costs -
Capital leases -
--------------------------------------------------------------------------------------------------------
Total long-term liabilities -
--------------------------------------------------------------------------------------------------------
Deferred Credits
Unamortized investment tax credit -
Regulatory tax liability -
Other -
--------------------------------------------------------------------------------------------------------
Total deferred credits -
--------------------------------------------------------------------------------------------------------
Capitalization
Long-term debt -
Subsidiary obligated mandatorily
redeemable preferred securities -
Common stockholders' equity
Common stock -
Premium on common stock 0.2
Earnings reinvested (0.5)
Shares held in treasury (at cost) -
--------------------------------------------------------------------------------------------------------
Total common stockholders' equity (0.3)
--------------------------------------------------------------------------------------------------------
Total capitalization (0.3)
--------------------------------------------------------------------------------------------------------
Total Liabilities and Capitalization $(0.2)
========================================================================================================
</TABLE>
Exhibit D-3, page 10
