<PAGE>
EXHIBIT D-2
AGL Resources Inc.
Consolidating Statement of Earnings Reinvested
For the fiscal year ended September 30, 2000
(Millions)
<TABLE>
<CAPTION>
AGL Resources Inc. Atlanta Gas Light
Consolidated Eliminations AGL Resources Inc. Company
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Earnings Reinvested at Beginning of Period $186.7 $(120.6) $ 244.2
Net Income 71.1 (8.9) 63.4
Loss on Issuance of Treasury Stock (0.2) (0.2)
Dividends on Common Stock (59.8) (59.8)
Non-cash Dividend - 244.8 (244.8)
----------------------------------------------------------------------------------------------------------------------------------
Earnings Reinvested at End of Period $197.8 $244.8 $(189.5) $ 62.8
==================================================================================================================================
</TABLE>
Exhibit D-2, page 1
<PAGE>
AGL Resources Inc.
Consolidating Statement of Earnings Reinvested
For the fiscal year ended September 30, 2000
(Millions)
<TABLE>
<CAPTION>
Chattanooga Gas AGL Energy Georgia Natural Gas AGL Investments,
Company Services, Inc. Company Inc.
------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Earnings Reinvested at Beginning of Period $44.3 $8.2 $(12.2) $17.3
Net Income 4.1 1.2 3.6 0.5
Loss on Issuance of Treasury Stock
Dividends on Common Stock
Non-cash Dividend
---------------------------------------------------------------------------------------------------------------------------------
Earnings Reinvested at End of Period $48.4 $9.4 $(8.6) $17.8
=================================================================================================================================
</TABLE>
Exhibit D-2, page 2
<PAGE>
AGL Resources Inc.
Consolidating Statement of Earnings Reinvested
For the fiscal year ended September 30, 2000
(Millions)
<TABLE>
<CAPTION>
AGL Propane AGL Consumer
Services, Inc. AGL Propane, Inc. Utilipro, Inc. Services, Inc.
------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Earnings Reinvested at Beginning of Period - $ 4.8 $(2.7) $0.2
Net Income 11.6 0.3 (4.9) 0.1
Loss on Issuance of Treasury Stock
Dividends on Common Stock
Non-cash Dividend 5.1 (5.1)
------------------------------------------------------------------------------------------------------------------------------------
Earnings Reinvested at End of Period $16.7 - $(7.6) $0.3
====================================================================================================================================
</TABLE>
Exhibit D-2, page 3
<PAGE>
AGL Resources Inc.
Consolidating Statement of Earnings Reinvested
For the fiscal year ended September 30, 2000
(Millions)
<TABLE>
<CAPTION>
Trustees AGL Capital AGL Networks, Georgia Gas
Investments, Inc. Trust LLC Company
-----------------------------------------------------------------------
<S> <C> <C> <C> <C>
Earnings Reinvested at Beginning of Period $0.1 $(0.1) $3.5
Net Income 0.1 -
Loss on Issuance of Treasury Stock
Dividends on Common Stock
Non-cash Dividend
----------------------------------------------------------------------------------------------------------------------------
Earnings Reinvested at End of Period $0.2 $(0.1) - $3.5
============================================================================================================================
</TABLE>
Exhibit D-2, page 4
<PAGE>
AGL Resources Inc.
Consolidating Statement of Earnings Reinvested
For the fiscal year ended September 30, 2000
(Millions)
<TABLE>
<CAPTION>
AGL Peaking AGL Energy Wise
Services, Inc. Services, Inc.
------------------------------------------
<S> <C> <C>
Earnings Reinvested at Beginning of Period $0.2 $(0.5)
Net Income
Loss on Issuance of Treasury Stock
Dividends on Common Stock
Non-cash Dividend
------------------------------------------------------------------------------------------------
Earnings Reinvested at End of Period $0.2 $(0.5)
================================================================================================
</TABLE>
Exhibit D-2, page 5
