<PAGE> 1
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U5S
ANNUAL REPORT
For the Year Ended December 31, 1994
Filed pursuant to the
Public Utility Holding Company Act of 1935
THE COLUMBIA GAS SYSTEM, INC.
(Name of registered holding company)
20 Montchanin Road
Wilmington, Delaware 19807
ON JULY 31, 1991, THE COLUMBIA GAS SYSTEM, INC. AND ITS WHOLLY-OWNED SUBSIDIARY
COLUMBIA GAS TRANSMISSION CORPORATION FILED SEPARATE PETITIONS SEEKING
PROTECTION UNDER CHAPTER 11 OF THE FEDERAL BANKRUPTCY CODE.
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<PAGE> 2
PAGE 1
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U5S
ANNUAL REPORT
For the Year Ended December 31, 1994
Filed pursuant to the
Public Utility Holding Company Act of 1935
THE COLUMBIA GAS SYSTEM, INC.
(Name of registered holding company)
20 Montchanin Road
Wilmington, Delaware 19807
On July 31, 1991, The Columbia Gas System, Inc. and its wholly-owned subsidiary
Columbia Gas Transmission Corporation filed separate petitions seeking
protection under Chapter 11 of the Federal Bankruptcy Code.
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<PAGE> 3
PAGE 2
TABLE OF CONTENTS
<TABLE>
<CAPTION>
NO. OF
PAGE OR
ITEM EXHIBIT
- ---- ----------
<S> <C> <C>
1 System Companies and Investment Therein as of December 31,
1994 ...................................................... 3-7
2 Acquisitions or Sales of Utility Assets .................... 7
3 Issue, Sale, Pledge, Guarantee or Assumption of System
Securities ................................................ 7
4 Acquisition, Redemption or Retirement of System Securities . 8-9
5 Investments in Securities of Nonsystem Companies ........... 10
6 Officers and Directors ..................................... 11-42
7 Contributions and Public Relations ......................... 43
8 Service, Sales and Construction Contracts .................. 44-45
9 Wholesale Generators and Foreign Utility Companies ......... 46
10 Financial Statements and Exhibits .......................... 46
Consolidating Financial Statements (F-1 to F-6) .......... 47-123
Exhibits:
SEC Act of 1934 Reports ................................ A
Index to Corporate Organization & By-Laws Exhibits ..... B
Indentures or Contracts ................................ C
Tax Allocation Agreement for 1994 ..................... D
Other Documents Prescribed by Rule or Order ............ E
Report of Independent Public Accountants ............... F
Financial Data Tables .................................. G
Organizational Chart of Exempt Wholesale
Generators or Foreign Utility Holding Companies ........ H
Audited Financial Statements and Analytical Reviews
and Conclusions Regarding Exempt Wholesale Generators
or Foreign Utility Holding Companies ................... I
Signature of Registrant's Officer .......................... 124
</TABLE>
<PAGE> 4
PAGE 3
ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 1994
<TABLE>
<CAPTION>
Issuer Owner
% 0f Book Book
Number of Common Voting Value Value
Name of Company (Company Abbreviation) Shares Owned Power ($000) ($000)
- --------------------------------------------------- ---------------- ------ -------- --------
<S> <C> <C> <C> <C>
THE COLUMBIA GAS SYSTEM, INC. (Registrant, CG) (a)
Columbia Atlantic Trading Corporation (CAT) ..... 82,000 100.0 (720) (720)
Columbia Coal Gasification Corporation (CGC) .... 1,939,000 100.0 7,674 7,674
Unsecured Debt ................................ - - 4,413 4,413
Columbia Gas Development Corporation (CGD) ...... 5,676,477 100.0 103,997 103,997
Unsecured Debt ................................ - - 76,866 76,866
Columbia Gas of Kentucky, Inc. (CKY) ............ 632,248 100.0 49,887 49,887
Unsecured Debt ................................ - - 45,901 45,901
Columbia Gas of Maryland, Inc. (CMD) ............ 283,686 100.0 17,062 17,062
Unsecured Debt ................................ - - 15,561 15,561
Columbia Gas of Ohio, Inc. (COH) ................ 4,769,585 100.0 363,493 363,493
Unsecured Debt ................................ - - 290,683 290,683
Columbia Gas of Pennsylvania, Inc. (CPA) ........ 2,745,112 100.0 177,284 177,284
Unsecured Debt ................................ - - 145,435 145,435
Columbia Gas System Service Corporation (CS) .... 130,000 100.0 13,179 13,179
Unsecured Debt ................................ - - 18,240 18,240
Columbia Gas Transmission Corporation (TCO) (a).. 9,671,354 100.0 (489,059) (489,059)
Unsecured Debt ................................ - - 343,888 343,888
Secured Debt .................................. - - 1,340,448 1,340,448
Subsidiary:
Columbia Transmission Investment
Corporation (CTIC) ....................... 2,675 100.0 1,321,955 1,321,955
Columbia Gulf Transmission Company (CGT) ........ 5,977,951 100.0 97,343 97,343
Unsecured Debt ................................ - - 71,917 71,917
Unconsolidated Affiliates:
Overthrust Pipeline Company (b) ............. - 18.0 3,959 3,959
Ozark Gas Transmission System (c) ........... - 25.0 11,508 11,508
Trailblazer Pipeline Company (d) ............ - 33.3 25,523 25,523
Valuation Reserve (e)........................ - - (6,262) (6,262)
Columbia LNG Corporation (CLG) (f) .............. 3,378,730 91.8 12,912 16,883
CLNG Corporation (CLNG) ....................... 1 100.0 72 72
Unconsolidated Affiliate:
Cove Point LNG Limited Partnership (g) ...... - 50.0 8,696 8,696
Columbia Natural Resources, Inc. (CNR) .......... 5,028,628 100.0 174,759 174,689
Unsecured Debt ................................ - - 46,256 46,256
Columbia Propane Corporation (CPC) .............. 156,000 100.0 3,994 3,994
Unsecured Debt ................................ - - 2,876 2,876
Commonwealth Gas Services, Inc. (COS) ........... 486,106 100.0 69,575 69,859
Unsecured Debt ................................ - - 93,477 93,477
</TABLE>
<PAGE> 5
PAGE 4
ITEM 1. Continued
<TABLE>
<CAPTION>
Issuer Owner
% 0f Book Book
Number of Common Voting Value Value
Name of Company (Company Abbreviation) Shares Owned Power ($000) ($000)
- --------------------------------------------------- ---------------- ------ -------- --------
<S> <C> <C> <C> <C>
Commonwealth Propane, Inc. (CPI) ................. 40,000 100.0 8,334 8,839
Unsecured Debt ................................. - - 9,760 9,760
Unconsolidated Affiliate:
Atlantic Energy, Inc. (AEI) (h) .............. 3,500 50.0 1,236 1,236
Columbia Energy Services Corporation (CES) ....... 417,157 100.0 11,830 11,830
TriStar Capital Corporation (TCC) ................ 40,000 100.0 1,822 1,822
Subsidiary:
TriStar Gas Technologies, Inc. ............... 40,000 100.0 1,760 1,760
Unsecured Debt ........................ - - 21 21
Unconsolidated Affiliate:
Enertek Partners, L.P. (i) ............ - 16.6 1,715 1,715
TriStar Ventures Corporation (TVC) ............... 611,704 100.0 37,347 37,347
Subsidiaries:
TriStar Pedrick General Corporation (PGC)..... 3,000 100.0 1,572 1,572
Unsecured Debt ............................. - - 682 682
Unconsolidated Affiliate:
Pedricktown Cogeneration Limited
Partnership (j) ......................... - 15.0 4,170 4,170
TriStar Pedrick Limited Corporation (PLC)..... 42 100.0 3,693 3,693
Unsecured Debt ............................. - - 1,590 1,590
Unconsolidated Affiliate:
Pedricktown Cogeneration Limited
Partnership (j) ......................... - 35.0 9,731 9,731
TriStar Fuel Cells Corporation (FC)........... 3,000 100.0 (887) (887)
Unsecured Debt ............................. - - 711 711
TriStar Binghamton General Corporation (BGC).. 118 100.0 2,800 2,800
Unconsolidated Affiliate:
Binghamton Cogeneration Limited
Partnership (k) ......................... - 10.0 1,824 1,824
TriStar Binghamton Limited Corporation (BLC).. 142 100.0 6,497 6,497
Unconsolidated Affiliate:
Binghamton Cogeneration Limited
Partnership (k) ......................... - 23.3 4,257 4,257
TriStar Georgetown General Corporation (GGC).. 401 100.0 (97) (97)
Unconsolidated Affiliate:
Georgetown Cogeneration Limited
Partnership (l) ......................... - 1.0 103 103
</TABLE>
<PAGE> 6
PAGE 5
ITEM 1. Continued
<TABLE>
<CAPTION>
Issuer Owner
% 0f Book Book
Number of Common Voting Value Value
Name of Company (Company Abbreviation) Shares Owned Power ($000) ($000)
- --------------------------------------------------- ---------------- ------ -------- --------
<S> <C> <C> <C> <C>
TriStar Georgetown Limited Corporation (GLC). 3,000 100.0 (4,855) (4,855)
Unsecured Debt ............................ - - 358 358
Unconsolidated Affiliate:
Georgetown Cogeneration Limited
Partnership (l) ........................ - 49.0 5,042 5,042
TriStar Vineland General Corporation (VGC)... 2,704 100.0 761 761
Unconsolidated Affiliate:
Vineland Cogeneration Limited
Partnership (m) ....................... - 5.0 563 563
TriStar Vineland Limited Corporation (VLC)... 2,385 100.0 6,778 6,778
Unconsolidated Affiliate:
Vineland Cogeneration Limited
Partnership (m) ........................ - 45.0 5,067 5,067
TriStar Rumford Limited Corporation (RL)..... 1 100.0 637 637
Unsecured Debt ............................ - - 2,216 2,216
Unconsolidated Affiliate:
Rumford Cogeneration Company (n) ........ - 10.2 6,220 6,220
* TriStar Nine Corporation (TVC9).............. 1 100.0 - -
* TriStar Ten Corporation (TVC10).............. 1 100.0 - -
Unconsolidated Affiliate:
Cogeneration Partners of America (o) ........ - 50.0 - -
Unsecured Debt ............................ - - - -
</TABLE>
* Inactive companies.
(a) On July 31, 1991, The Columbia Gas System, Inc. and its wholly-owned
subsidiary Columbia Gas Transmission Corporation filed separate
petitions seeking protection under Chapter 11 of the Federal Bankruptcy
Code.
(b) Partnership interest in the Overthrust Pipeline Company. Partners each
owning an eighteen percent (18%) interest are Columbia Gulf Transmission
Company, Questar Pipeline Company, Inc., NGPL - Overthrust Inc.,
Northern Overthrust Pipeline Company and Tennessee Overthrust Company.
CIG Overthrust Inc. holds the remaining ten percent (10%).
(c) Partnership interest in the Ozark Gas Transmission System. Partners
each owning a twenty-five percent (25%) interest are Columbia Gulf
Transmission Company, Tennessee Ozark Gas Company, Ozark Gas Pipeline
Corporation and Caney River Transmission Company. In February 1995, an
agreement was reached which provides for the sale of Columbia Gulf's
Ozark partnership investment. The agreement contains usual closing
conditions and is subject to certain governmental approvals. Closing is
expected to occur on May 1, 1995.
<PAGE> 7
PAGE 6
ITEM 1. Continued
(d) Partnership interest in the Trailblazer Pipeline Company. Partners each
owning a thirty-three and one- third percent (33-1/3%) interest are
Columbia Gulf Transmission Company, Enron Trailblazer Pipeline Company
and NGPL - Trailblazer, Inc.
(e) The partnership valuation reserve was established in 1993 as a result of
several firm shippers on the partnership system planning to exit their
agreements under Federal Energy Regulatory Commission Order No. 636,
thus potentially impairing CGT's investment.
(f) In two sales in 1989 and 1991, a total of 301,270 out of 3,265,000
shares then outstanding, held by CG, were sold to the Shell LNG Company
("Shell LNG"), a subsidiary of Shell Oil Company ("Shell"). During
1994, CG purchased 415,000 shares of CLG's $1.00 par value common stock
for $2,988,000 to fund CLG's 1994 contribution to the Cove Point LNG
Limited Partnership (see footnote (g) for details concerning the
partnership).
(g) On January 27, 1994, Columbia LNG Corporation ("CLG"), together with its
wholly-owned subsidiary, CLNG Corporation ("CLNG"), entered into an
Amended and Restated Agreement of Limited Partnership (the "L.P.
Agreement") to form Cove Point LNG Limited Partnership (the
"Partnership"), with Cove Point Energy Company, Inc. ("COPE") and PEPCO
Energy Company, Inc. ("PENCO"). Under the L.P. Agreement, CLNG and COPE
are each general partners of the Partnership. Each of the general
partners has a one (1%) percent ownership interest and fifty (50%)
percent of the Partnership's voting power. CLG and PENCO each are
limited partners of the Partnership, holding, respectively, forty-nine
(49%) percent ownership interests in the Partnership. The limited
partners have no voting power (except in certain extraordinary
situations).
(h) Atlantic Energy, Inc. is an unconsolidated subsidiary of Commonwealth
Propane, Inc., accounted for as an investment using the equity method.
Commonwealth Propane, Inc. and Petrolane, Inc. each have a fifty percent
(50%) ownership interest in the propane storage facility. Additional
disclosure is provided for AEI in Item 6 (Officers and Directors) and
Item 10 Exhibits (Articles of Incorporation and By-Laws).
(i) Partnership interest in Enertek L.P. (EnerTek). EnerTek is a gas
industry fund that invests in companies developing new technologies to
enhance the supply, transportation and utilization of natural gas. The
limited partners and their ownership interest include Battelle Memorial
Institute (8.3%); Brooklyn Union Gas Company (16.5%), CNG Technologies,
Inc. (16.5%); Enron Venture Capital Company (16.5%); Equitable
Resources, Inc. (8.3%); Southern California Gas Company (16.5%); and
TriStar Gas Technologies, Inc. (16.5%). Scientific Advances, Inc. is
the general partner owning 0.9%.
<PAGE> 8
PAGE 7
ITEM 1. Continued
(j) Partnership interest in Pedricktown Cogeneration Limited Partnership.
The general partners are Pedrick General, Inc. and TriStar Pedrick
General Corporation, each of which owns one-half of the thirty percent
(30%) general partnership interest. The limited partners are Pedrick
Limited, Inc. and TriStar Pedrick Limited Corporation, each of which
owns one-half of the seventy percent (70%) limited partnership interest.
Pedrick General, Inc. and Pedrick Limited, Inc. are subsidiaries of
Atlantic Generation, Inc.
(k) Partnership interest in Binghamton Cogeneration Limited Partnership.
The general partners are Binghamton General, Inc.; S.N.W. Binghamton I,
L.P.; and TriStar Binghamton General Corporation, each of which owns
one-third of the thirty percent (30%) general partnership interest. The
limited partners are Binghamton Limited, Inc.; S.N.W. Binghamton II,
L.P.; and TriStar Binghamton Limited Corporation, each of which owns
one-third of the seventy percent (70%) limited partnership interest.
Binghamton General, Inc. and Binghamton Limited, Inc. are subsidiaries
of Atlantic Generation, Inc. and S.N.W. Binghamton I, L.P. and S.N.W.
Binghamton II, L.P. are subsidiaries of Stone & Webster Development
Corp.
(l) Partnership interest in Georgetown Cogeneration Limited Partnership.
The general partners are Dominion Cogen DC, Inc. and TriStar Georgetown
General Corporation, each of which owns one-half of the two percent (2%)
general partnership interest. The limited partners are Dominion Energy
Inc. and TriStar Georgetown Limited Corporation, each of which owns
one-half of the ninety eight percent (98%) limited partnership interest.
Domionion Cogen DC, Inc. is a subsidiary of Dominion Energy, Inc.
(m) Partnership interest in Vineland Cogeneration Limited Partnership. The
general partners are Vineland General, Inc. and TriStar Vineland General
Corporation, each of which owns one-half of the ten percent (10%)
general partnership interest. The limited partners are Vineland
Limited, Inc. and TriStar Vineland Limited Corporation, each of which
owns one-half of the ninety percent (90%) limited partnership interest.
Vineland General, Inc. and Vineland Limited, Inc. are subsidiaries of
Atlantic Generation, Inc.
(n) Partnership interest in Rumford Cogeneration Company. The limited
partners and the percent of ownership interest of each include: TriStar
Rumford Limited Corporation (10.2%), UtilCo Group, Inc. (24.3%),
Nichimen America, Inc. (10.2%), Dominion Energy, Inc. (10.2%), and
Rumford Regulus Power Partners, a California Limited Partnership
(15.1%). Rumford Cogeneration, Inc. is the general partner owning
30.0%.
(o) Partnership interest in Cogeneration Partners of America. TriStar
Ventures Corporation and Atlantic Generation, Inc. each own 50%.
Cogeneration Partners of America ceased operations in May 1994. The
activities formerly performed by Cogeneration Partners of America are
being performed by TriStar Ventures Corporation and Atlantic
Generation, Inc.
ITEM 2. ACQUISITIONS OR SALES OF UTILITY ASSETS
None.
ITEM 3. ISSUE, SALE, PLEDGE, GUARANTEE OR ASSUMPTION OF SYSTEM SECURITIES
None.
<PAGE> 9
PAGE 8
ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES DURING 1994
<TABLE>
<CAPTION>
Number of Shares or
Name of Company Principal Amount
Acquiring, --------------------------------------
Name of Issuer Redeeming or Redeemed
and Retiring Acquired and Retired Consideration Commission
Title of Issue Securities ($000) ($000) ($000) Authorization
- ----------------- --------------- ------------------ ------------------ ----------------- --------------
<S> <C> <C> <C> <C> <C>
CGC
Common Stock CG 0 shares (a) - 12,000 File #70-8471
Unsecured Debt CG 500 - 500 File #70-8471
Unsecured Debt CGC - 2,041 2,041 Exempt Rule 42
Unsecured Debt CGD - 12,000 12,000 File #70-8471
CGD
Common Stock CG 0 shares (b) - 62,000 File #70-8471
Unsecured Debt CG 10,000 - 10,000 File #70-8471
Unsecured Debt CGD - 20,740 20,740 Exempt Rule 42
Unsecured Debt CGD - 62,000 62,000 File #70-8471
CKY
Unsecured Debt CG 5,700 - 5,700 File #70-8471
Unsecured Debt CKY - 2,077 2,077 Exempt Rule 42
CMD
Unsecured Debt CG 1,500 - 1,500 File #70-8471
Unsecured Debt CMD - 722 722 Exempt Rule 42
COH
Unsecured Debt CG 29,300 - 29,300 File #70-8471
Unsecured Debt COH - 15,230 15,230 Exempt Rule 42
CPA
Unsecured Debt CG 15,900 - 15,900 File #70-8471
Unsecured Debt CPA - 8,564 8,564 Exempt Rule 42
COS
Unsecured Debt CG 16,000 - 16,000 File #70-8471
Unsecured Debt COS - 4,948 4,948 Exempt Rule 42
CS
Unsecured Debt CS - 1,613 1,613 Exempt Rule 42
</TABLE>
Notes
- ------------------------------
(a) Recapitalization of CGC. CG made a capital contribution of the
installment promissory notes.
(b) Recapitalization of CGD. CG made a capital contribution of the
installment promissory notes.
<PAGE> 10
PAGE 9
ITEM 4. Continued
<TABLE>
<CAPTION>
Number of Shares or
Name of Company Principal Amount
Acquiring, --------------------------------------
Name of Issuer Redeeming or Redeemed
and Retiring Acquired and Retired Consideration Commission
Title of Issue Securities ($000) ($000) ($000) Authorization
- ----------------- --------------- ------------------ ------------------ ----------------- --------------
<S> <C> <C> <C> <C> <C>
CGT
Common Stock CGD - 0 shares (a) 67,000 File #70-8471
Unsecured Debt CG 67,000 - 67,000 File #70-8471
Unsecured Debt CGT - 3,339 3,339 Exempt Rule 42
CLG
Common Stock CG 415 shares 2,988 2,988 File #70-8317
Common Stock CG 0 shares (b) - 52,000 File #70-8317
Unsecured Debt CLG - 52,000 52,000 Exempt Rule 42
CNR
Unsecured Debt CG 10,000 - 10,000 File #70-8471
Unsecured Debt CNR - 4,209 4,209 Exempt Rule 42
CPC
Unsecured Debt CPC - 434 434 Exempt Rule 42
CPI
Unsecured Debt CG 4,000 - 4,000 File #70-8471
Unsecured Debt CPI - 740 740 Exempt Rule 42
CTIC
Unsecured Debt TCO 317 shares - 158,500 Exempt Rule 42
TCC
Common Stock CG 0 shares (c) - 500 File #70-7910
</TABLE>
Notes
- ------------------------------
(a) Recapitalization of CGT. CGT issued installment promissory notes to CG
and paid a dividend to CG out of surplus.
(b) Recapitalization of CLG. CG made a capital contribution of the
installment promissory notes, short-term debt and accrued interest.
(c) Represents a capital contribution for investment in Enertek Partners, L.P.
<PAGE> 11
PAGE 10
ITEM 5. INVESTMENTS IN SECURITIES OF NONSYSTEM COMPANIES
The aggregate amount of investments as of December 31, 1994 in persons
operating in the retail service area of the system are as follows:
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------
NUMBER OF
SHARES OR CARRYING VALUE
NAME OF OWNER NAME OF ISSUER SECURITY PRINCIPAL TO OWNER
OWNED AMOUNT OWNED
---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Columbia Gas Eastern Stainless Class B 48,650 Shares $30,163.00
Transmission Corporation Common Stock
Corporation
---------------------------------------------------------------------------------------------
Columbia Gulf Eastern Stainless Class B 3,952 Shares $2,450.00
Transmission Corporation Common Stock
Company
---------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 12
PAGE 11
ITEM 6. OFFICERS AND DIRECTORS
Part I. Names, principal business address and positions held as of
December 31, 1994.
The names, principal address and positions held as of December 31, 1994
of the officers and directors of System companies is presented in the
tables on pages 13 through 28. The principal business address of each
officer and director is indicated in such tables by the numbers (1)
through (38). The addresses associated with these number designations
are shown in the following address key. The symbols used to indicate
the positions held by officers and directors are shown in the position
symbol key below.
Ref.# Address
- ----- -------------------------------------------------------------
1 20 Montchanin Road Wilmington, Delaware 19807
2 200 Civic Center Drive, Columbus Ohio 43215
3 900 Pennsylvania Avenue Charleston, West Virginia 25302
4 77 Beachside Avenue, Green Farms, Connecticut 06436
5 180 E. Broad St. Suite 1716, Columbus, Ohio 43215
6 336-338 14th Street, Ashland, Kentucky 41101
7 Blair Strip Steel Company, P.O. Box 7159,
New Castle, Pennsylvania 16107
8 One Riverway, 1st Floor, Houston, Texas 77056
9 1700 MacCorkle Avenue, S.E., Charleston, West Virginia 23236
10 P.O. Box 496, Manifold Rd., Rt. 19, Washington, Pennsylvania 15301
11 3147 Keywest Court, Wichita, Kansas 67204
12 700 13th St., N.W., Suite 900, Washington, DC 20005
13 2603 Augusta, Houston, Texas 77057-5618
14 2820 Margate Road, Columbus, Ohio 43221
15 1600 Dublin Road, Columbus, Ohio 43215
16 2851 Washington Rd. #201, Pittsburgh, PA 15241
17 800 Moorefield Park Drive, Richmond Virginia 23236
18 P.O. Box 228, Strasburg, Virginia 22657
19 120 E. Fairway Drive, Lexington, Kentucky 40502
20 14 Brookside Rd., Biltmore Forest, Asheveille, North Carolina 28803
21 212 Park Drive, Columbus, Ohio 43209
22 Virginia Polytechnic Institute and State University
Blacksburg, Virginia 24061-0220
23 P.O. Box 965, Valley Forge, PA 19482
24 250 Broad Street, Columbus, Ohio 43215
25 212 Locust Street, Suite 204, Harrisburg, Pennsylvania 17101
26 2610 Chariny Road, Columbus, Ohio 43221
27 2-18 Parsons Boulevard, Malba, Long Island, New York 11357
28 1102 Memorial Boulevard, Huntington, West Virginia 25314
<PAGE> 13
PAGE 12
ITEM 6. Continued
Ref.# Address
- ----- -------------------------------------------------------------
29 2581 Washington Road, Building 200, Suite 201
Upper St. Clair, Pennsylvania 15241
30 4111 Executive Parkway, Westerville, Ohio 43081
31 Oaklands Business Parks, Inc.
600 Lincoln highway, Exton, Pennsylvania 19341-2572
32 190 North Oval Mall, 205 Bricker Hall, Columbus, Ohio 43210-1357
33 P.O. Box 858, Valley Forge, Pennsylvania 19482
34 767 Third Avenue, New York, New York 10017-2023
35 P.O. Box 366, Perrysburg, Ohio 43551
36 910 Newton Road, Charleston, West Virginia 25314
37 5501 Frantz Road, Dublin, Ohio 43017
38 2581 Washington Road #222, Upper St. Clair, Pennsylvania 15241
POSITION KEY CODE
<TABLE>
<S> <C> <C>
CB - Chairman of the Board C - Controller
VC - Vice Chairman EVP - Executive Vice President GA - General Auditor
CEO - Chief Executive Officer SVP - Senior Vice President GC - General Counsel
COO - Chief Operating Officer VP - Vice President S - Secretary
P - President T - Treasurer D - Director
CFO - Chief Financial Officer CLO - Chief Legal Officer CAO - Chief Accounting Officer
</TABLE>
FOOTNOTE KEY
(a) The officers and directors of the subsidiary of CLG listed in Item 1 are
identical to the officers and directors of CLG.
(b) The officers and directors of each of the twelve subsidiaries of TVC listed
in Item 1 are identical to the officers and directors of TVC.
(c) The officers and directors of the subsidiary of TCC listed in Item 1 are
identical to the officers and directors of TCC.
<PAGE> 14
PAGE 13
ITEM 6. Continued
<TABLE>
<CAPTION>
============================================================================================================================
CG AEI CAT CGC CGD CKY CMD COH CPA CS CTIC
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
James T. Alexander
Wilmington, Delaware (1)
- ----------------------------------------------------------------------------------------------------------------------------
Anthony Amurgis
Columbus, Ohio (2) VP VP VP VP
- ----------------------------------------------------------------------------------------------------------------------------
John P. Anderson
Wilmington, Delaware (1)
- ----------------------------------------------------------------------------------------------------------------------------
Carmen M. Andreoli
Wilmington, Delaware (1)
- ----------------------------------------------------------------------------------------------------------------------------
Larry J. Bainter VP VP
Wilmington, Delaware (1) T VP VP VP VP VP VP VP T T, D
- ----------------------------------------------------------------------------------------------------------------------------
Richard W. Beardsley
Charleston, West Virginia (3)
- ----------------------------------------------------------------------------------------------------------------------------
Robert H. Beeby
Green Farms, Connecticut (4) D D
- ----------------------------------------------------------------------------------------------------------------------------
Daniel L. Bell, Jr. S, SVP SVP, D
Wilmington, Delaware (1) CLO CLO, S
- ----------------------------------------------------------------------------------------------------------------------------
Napoleon A. Bell
Columbus, Ohio (5) D
- ----------------------------------------------------------------------------------------------------------------------------
George H. Billings VP, D
Ashland, Kentucky (6) COO
- ----------------------------------------------------------------------------------------------------------------------------
Tejinder S. Bindra
Wilmington, Delaware (1) S
- ----------------------------------------------------------------------------------------------------------------------------
Thomas S. Blair
New Castle, Pennsylvania (7) D D
- ----------------------------------------------------------------------------------------------------------------------------
John P. Bornman, Jr. P
Houston, Texas (8) D
- ----------------------------------------------------------------------------------------------------------------------------
Douglas G. Borror
Dublin, Ohio (37) D
- ----------------------------------------------------------------------------------------------------------------------------
Alan P. Bowman
Columbus, Ohio (2) VP VP VP VP
- ----------------------------------------------------------------------------------------------------------------------------
G. N. Brammer
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------
Andrew Mason Brent CB
Richmond, Virginia (17) D
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 15
PAGE 14
ITEM 6. Continued
<TABLE>
<CAPTION>
============================================================================================================================
TCO CGT CPC CLG CNR COS CPI CES TVC TCC
(a) (b) (c)
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
James T. Alexander
Wilmington, Delaware (1) VP
- ----------------------------------------------------------------------------------------------------------------------------
Anthony Amurgis
Columbus, Ohio (2) VP
- ----------------------------------------------------------------------------------------------------------------------------
John P. Anderson
Wilmington, Delaware (1) S S
- ----------------------------------------------------------------------------------------------------------------------------
Carmen M. Andreoli
Wilmington, Delaware (1) VP
- ----------------------------------------------------------------------------------------------------------------------------
Larry J. Bainter
Wilmington, Delaware (1) VP VP VP VP VP VP VP VP VP VP
- ----------------------------------------------------------------------------------------------------------------------------
Richard W. Beardsley
Charleston, West Virginia (3) VP
- ----------------------------------------------------------------------------------------------------------------------------
Robert H. Beeby
Green Farms, Connecticut (4)
- ----------------------------------------------------------------------------------------------------------------------------
Daniel L. Bell, Jr.
Wilmington, Delaware (1) D D D D D D
- ----------------------------------------------------------------------------------------------------------------------------
Napoleon A. Bell
Columbus, Ohio (5)
- ----------------------------------------------------------------------------------------------------------------------------
George H. Billings
Ashland, Kentucky (6)
- ----------------------------------------------------------------------------------------------------------------------------
Tejinder S. Bindra
Wilmington, Delaware (1) S S S
- ----------------------------------------------------------------------------------------------------------------------------
Thomas S. Blair
New Castle, Pennsylvania (7)
- ----------------------------------------------------------------------------------------------------------------------------
John P. Bornman, Jr.
Houston, Texas (8)
- ----------------------------------------------------------------------------------------------------------------------------
Douglas G. Borror
Dublin, Ohio (37)
- ----------------------------------------------------------------------------------------------------------------------------
Alan P. Bowman
Columbus, Ohio (2) VP
- ----------------------------------------------------------------------------------------------------------------------------
G. N. Brammer
Charleston, West Virginia (9) SVP SVP
- ----------------------------------------------------------------------------------------------------------------------------
Andrew Mason Brent P P
Richmond, Virginia (17) D D
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 16
PAGE 15
ITEM 6. Continued
<TABLE>
<CAPTION>
=========================================================================================================================
CG AEI CAT CGC CGD CKY CMD COH CPA CS CTIC
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
L. Michael Bridges P
Wilmington, Delaware (1) D
- -------------------------------------------------------------------------------------------------------------------------
Donald A. Brooks
Charleston, West Virginia (9)
- -------------------------------------------------------------------------------------------------------------------------
Daniel E. Brown
Columbus, Ohio (2) VP VP VP VP
- -------------------------------------------------------------------------------------------------------------------------
Wilson K. Cadman
Wichita, Kansas (11) D D
- -------------------------------------------------------------------------------------------------------------------------
Joseph E. Campbell
Charleston, West Virginia (3)
- -------------------------------------------------------------------------------------------------------------------------
Richard Casali
Washington, DC (12) VP VP
- -------------------------------------------------------------------------------------------------------------------------
Michael Casdorph
Charleston, West Virginia (9)
- -------------------------------------------------------------------------------------------------------------------------
Sheila A. Castellarin
Columbus, Ohio (2) VP VP VP VP
- -------------------------------------------------------------------------------------------------------------------------
H. William Chaddock SVP
Wilmington, Delaware (1) D
- -------------------------------------------------------------------------------------------------------------------------
Arnold T. Chonko
Columbus, Ohio (2) VP VP VP VP
- -------------------------------------------------------------------------------------------------------------------------
Jack A. Conrad
Charelston, West Virginia (9)
- -------------------------------------------------------------------------------------------------------------------------
Bartholomew F. Cranston
Wilmington, Delaware (1)
- -------------------------------------------------------------------------------------------------------------------------
John H. Croom, III CB, P CB, D
Wilmington, Delaware (1) CEO, D D D D D D CEO, P
- -------------------------------------------------------------------------------------------------------------------------
John D. Daly
Wilmington, Delaware (1) D
- -------------------------------------------------------------------------------------------------------------------------
Dennis P. Detar
Wilmington, Delaware (1)
- -------------------------------------------------------------------------------------------------------------------------
Thomas F. Devers
Columbus, Ohio (2) SVP SVP SVP SVP
- -------------------------------------------------------------------------------------------------------------------------
David R. Dodrill
Houston, Texas (13)
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 17
PAGE 16
ITEM 6. Continued
<TABLE>
<CAPTION>
=========================================================================================================================
TCO CGT CPC CLG CNR COS CPI CES TVC TCC
(a) (b) (c)
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
L. Michael Bridges P, D
Wilmington, Delaware (1) CEO
- -------------------------------------------------------------------------------------------------------------------------
Donald A. Brooks
Charleston, West Virginia (9) VP VP
- -------------------------------------------------------------------------------------------------------------------------
Daniel E. Brown
Columbus, Ohio (2) VP
- -------------------------------------------------------------------------------------------------------------------------
Wilson K. Cadman
Wichita, Kansas (11)
- -------------------------------------------------------------------------------------------------------------------------
Joseph E. Campbell
Charleston, West Virginia (3) VP
- -------------------------------------------------------------------------------------------------------------------------
Richard Casali
Washington, DC (12)
- -------------------------------------------------------------------------------------------------------------------------
Michael Casdorph
Charleston, West Virginia (9) SVP SVP
- -------------------------------------------------------------------------------------------------------------------------
Sheila A. Castellarin
Columbus, Ohio (2) VP
- -------------------------------------------------------------------------------------------------------------------------
H. William Chaddock
Wilmington, Delaware (1)
- -------------------------------------------------------------------------------------------------------------------------
Arnold T. Chonko
Columbus, Ohio (2) VP
- -------------------------------------------------------------------------------------------------------------------------
Jack A. Conrad
Charelston, West Virginia (9) VP VP
- -------------------------------------------------------------------------------------------------------------------------
Bartholomew F. Cranston P
Wilmington, Delaware (1) D
- -------------------------------------------------------------------------------------------------------------------------
John H. Croom, III
Wilmington, Delaware (1) D D D D D D D D D D
- -------------------------------------------------------------------------------------------------------------------------
John D. Daly
Wilmington, Delaware (1)
- -------------------------------------------------------------------------------------------------------------------------
Dennis P. Detar
Wilmington, Delaware (1) T
- -------------------------------------------------------------------------------------------------------------------------
Thomas F. Devers
Columbus, Ohio (2) SVP
- -------------------------------------------------------------------------------------------------------------------------
David R. Dodrill
Houston, Texas (13) VP VP
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 18
PAGE 17
ITEM 6. Continued
<TABLE>
<CAPTION>
===========================================================================================================================
CG AEI CAT CGC CGD CKY CMD COH CPA CS CTIC
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Stephen E. Eads
Charleston, West Virginia (3)
- ---------------------------------------------------------------------------------------------------------------------------
Dr. Sherwood L. Fawcett
Columbus, Ohio 43221 D D
- ---------------------------------------------------------------------------------------------------------------------------
John T. Fay
Wilmington, Delaware (1) VP
- ---------------------------------------------------------------------------------------------------------------------------
Dan R. Fields
Charleston, West Virginia (9)
- ---------------------------------------------------------------------------------------------------------------------------
S. H. Finch
Charleston, West Virginia (9)
- ---------------------------------------------------------------------------------------------------------------------------
James L. Flenniken
Charleston, West Virginia (9)
- ---------------------------------------------------------------------------------------------------------------------------
William J. Forsythe VP
Wilmington, Delaware (1) GA
- ---------------------------------------------------------------------------------------------------------------------------
Donato Furlano
Columbus, Ohio 43215 (15) C
- ---------------------------------------------------------------------------------------------------------------------------
E. Gordon Gee
Columbus, Ohio (32) D
- ---------------------------------------------------------------------------------------------------------------------------
David L. Gelbaugh
Columbus, Ohio (2) VP VP VP VP
- ---------------------------------------------------------------------------------------------------------------------------
Dennis P. Geran VP
Wilmington, Delaware (1) D
- ---------------------------------------------------------------------------------------------------------------------------
Richard J. Gordan P, D P, D
Columbus, Ohio (2) COO COO
- ---------------------------------------------------------------------------------------------------------------------------
L. R. Greenberg
Valley forge, Pennsylvania (33) D
- ---------------------------------------------------------------------------------------------------------------------------
Stephen E. Greene
Charleston, West Virginia (9)
- ---------------------------------------------------------------------------------------------------------------------------
Jeffrey W. Grossman
Wilmington, Delaware (1) T
- ---------------------------------------------------------------------------------------------------------------------------
Robert. S. Gustafson
Pittsburgh, Pennsylvania (16)
- ---------------------------------------------------------------------------------------------------------------------------
William H. Harmon
Charleston, West Virginia (3) T
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 19
PAGE 18
ITEM 6. Continued
<TABLE>
<CAPTION>
=====================================================================================================================
TCO CGT CPC CLG CNR COS CPI CES TVC TCC
(a) (b) (c)
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Stephen E. Eads SVP
Charleston, West Virginia (3) D
- ---------------------------------------------------------------------------------------------------------------------
Dr. Sherwood L. Fawcett
Columbus, Ohio 43221
- ---------------------------------------------------------------------------------------------------------------------
John T. Fay
Wilmington, Delaware (1)
- ---------------------------------------------------------------------------------------------------------------------
Dan R. Fields
Charleston, West Virginia (9) VP VP
- ---------------------------------------------------------------------------------------------------------------------
S. H. Finch
Charleston, West Virginia (9) VP VP
- ---------------------------------------------------------------------------------------------------------------------
James L. Flenniken
Charleston, West Virginia (9) VP VP
- ---------------------------------------------------------------------------------------------------------------------
William J. Forsythe
Wilmington, Delaware (1)
- ---------------------------------------------------------------------------------------------------------------------
Donato Furlano
Columbus, Ohio 43215 (15)
- ---------------------------------------------------------------------------------------------------------------------
E. Gordon Gee
Columbus, Ohio (32)
- ---------------------------------------------------------------------------------------------------------------------
David L. Gelbaugh
Columbus, Ohio (2) VP
- ---------------------------------------------------------------------------------------------------------------------
Dennis P. Geran
Wilmington, Delaware (1)
- ---------------------------------------------------------------------------------------------------------------------
Richard J. Gordan
Columbus, Ohio (2)
- ---------------------------------------------------------------------------------------------------------------------
L. R. Greenberg
Valley forge, Pennsylvania (33)
- ---------------------------------------------------------------------------------------------------------------------
Stephen E. Greene
Charleston, West Virginia (9) VP VP
- ---------------------------------------------------------------------------------------------------------------------
Jeffrey W. Grossman
Wilmington, Delaware (1) T T
- ---------------------------------------------------------------------------------------------------------------------
Robert. S. Gustafson
Pittsburgh, Pennsylvania (16) C
- ---------------------------------------------------------------------------------------------------------------------
William H. Harmon T
Charleston, West Virginia (3) C
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 20
PAGE 19
ITEM 6. Continued
<TABLE>
<CAPTION>
==========================================================================================================================
CG AEI CAT CGC CGD CKY CMD COH CPA CS CTIC
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Thomas E. Harris
Richmond, Virginia (17)
- --------------------------------------------------------------------------------------------------------------------------
H. Foster Hayes T,S
Richmond, Virginia (17) D
- --------------------------------------------------------------------------------------------------------------------------
Joyce K. Hayes
Wilmington, Delaware (1) D
- --------------------------------------------------------------------------------------------------------------------------
James P. Heffernan
New York, New York (34) D D
- --------------------------------------------------------------------------------------------------------------------------
John R. Henning CEO
Charleston, West Virginia (3) P, D
- --------------------------------------------------------------------------------------------------------------------------
Wayne C. Hildreth
Strasburg, Virginia (18)
- --------------------------------------------------------------------------------------------------------------------------
Robert H. Hillenmeyer
Lexington, Kentucky (19) D D
- --------------------------------------------------------------------------------------------------------------------------
James P. Holland P
Charleston, West Virginia (9) D D
- --------------------------------------------------------------------------------------------------------------------------
Malcolm T. Hopkins
Asheville, North Carolina (20) D D
- --------------------------------------------------------------------------------------------------------------------------
Arthur W. Iler
Wilmington, Delaware (1)
- --------------------------------------------------------------------------------------------------------------------------
Richard F. James
Columbus, Ohio (2) VP VP VP VP
- --------------------------------------------------------------------------------------------------------------------------
R. Joe Johnson
Charleston, West Virginia (3)
- --------------------------------------------------------------------------------------------------------------------------
Charlotte P. Kessler
Columbus, Ohio (21) D
- --------------------------------------------------------------------------------------------------------------------------
Glen L. Kettering
Charleston, West Virginia (9)
- --------------------------------------------------------------------------------------------------------------------------
Peter J. Kinsella
Charleston, West Virginia (9)
- --------------------------------------------------------------------------------------------------------------------------
M. D. Lang
Pittsburgh, Pennsylvania (29)
- --------------------------------------------------------------------------------------------------------------------------
William J. Lavelle C C C C
Columbus, Ohio (2) VP VP VP VP
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 21
PAGE 20
ITEM 6. Continued
<TABLE>
<CAPTION>
===================================================================================================================
TCO CGT CPC CLG CNR COS CPI CES TVC TCC
(a) (b) (c)
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Thomas E. Harris COO
Richmond, Virginia (17) P, D
- -------------------------------------------------------------------------------------------------------------------
H. Foster Hayes VP VP
Richmond, Virginia (17) T, D T, D
- -------------------------------------------------------------------------------------------------------------------
Joyce K. Hayes
Wilmington, Delaware (1)
- -------------------------------------------------------------------------------------------------------------------
James P. Heffernan
New York, New York (34)
- -------------------------------------------------------------------------------------------------------------------
John R. Henning CEO
Charleston, West Virginia (3) P, D
- -------------------------------------------------------------------------------------------------------------------
Wayne C. Hildreth VP
Strasburg, Virginia (18)
- -------------------------------------------------------------------------------------------------------------------
Robert H. Hillenmeyer
Lexington, Kentucky (19)
- -------------------------------------------------------------------------------------------------------------------
James P. Holland CEO CEO
Charleston, West Virginia (9) CB, D CB, D
- -------------------------------------------------------------------------------------------------------------------
Malcolm T. Hopkins
Asheville, North Carolina (20)
- -------------------------------------------------------------------------------------------------------------------
Arthur W. Iler
Wilmington, Delaware (1) S
- -------------------------------------------------------------------------------------------------------------------
Richard F. James
Columbus, Ohio (2) VP
- -------------------------------------------------------------------------------------------------------------------
R. Joe Johnson
Charleston, West Virginia (3) VP VP
- -------------------------------------------------------------------------------------------------------------------
Charlotte P. Kessler
Columbus, Ohio (21)
- -------------------------------------------------------------------------------------------------------------------
Glen L. Kettering SVP SVP
Charleston, West Virginia (9)
- -------------------------------------------------------------------------------------------------------------------
Peter J. Kinsella
Charleston, West Virginia (9) VP VP
- -------------------------------------------------------------------------------------------------------------------
M. D. Lang
Pittsburgh, Pennsylvania (29) VP
- -------------------------------------------------------------------------------------------------------------------
William J. Lavelle C
Columbus, Ohio (2) VP
- -------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 22
PAGE 21
ITEM 6. Continued
<TABLE>
<CAPTION>
============================================================================================================================
CG AEI CAT CGC CGD CKY CMD COH CPA CS CTIC
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Dr. William E. Lavery
Blacksburg, Virginia (22) D
- ----------------------------------------------------------------------------------------------------------------------------
Harry Lee
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------
James R. Lee
Columbus, Ohio (2) EVP EVP EVP EVP
- ----------------------------------------------------------------------------------------------------------------------------
J. Richard Lisenby
Houston, Texas (8) T
- ----------------------------------------------------------------------------------------------------------------------------
Richard E. Lowe VP, C CAO
Wilmington, Delaware (1) CAO VP D
- ----------------------------------------------------------------------------------------------------------------------------
Thomas C. Luffy
Columbus, Ohio (2) T T T T
- ----------------------------------------------------------------------------------------------------------------------------
George P. MacNichol, III
Perrysburg, Ohio (35) D D
- ----------------------------------------------------------------------------------------------------------------------------
Philip Magley SVP
Wilmington, Delaware (15) D
- ----------------------------------------------------------------------------------------------------------------------------
R. A. Manson
Upper St. Clair, Pennsylvania (38)
- ----------------------------------------------------------------------------------------------------------------------------
R. C. Mauch P
Valley Forge, Pennsylvania (23) D
- ----------------------------------------------------------------------------------------------------------------------------
Gilbert A. Martin
Washington, DC (12)
- ----------------------------------------------------------------------------------------------------------------------------
Gerald E. Mayo
Columbus, Ohio (24) D D
- ----------------------------------------------------------------------------------------------------------------------------
Dennis W. McFarland
Columbus, Ohio (2) VP VP VP VP
- ----------------------------------------------------------------------------------------------------------------------------
James A. McGehee, Jr.
Richmond, Virginia (17)
- ----------------------------------------------------------------------------------------------------------------------------
H. M. Melton, Jr.
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------
Leslie M. Moor, Jr. VP
Houston, Texas (8) D
- ----------------------------------------------------------------------------------------------------------------------------
William F. Morse
Columbus, Ohio (15) VP VP VP VP
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 23
PAGE 22
ITEM 6. Continued
<TABLE>
<CAPTION>
==================================================================================================================
TCO CGT CPC CLG CNR COS CPI CES TVC TCC
(a) (b) (c)
- ------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Dr. William E. Lavery
Blacksburg, Virginia (22) D
- ------------------------------------------------------------------------------------------------------------------
Harry Lee
Charleston, West Virginia (9) VP VP
- ------------------------------------------------------------------------------------------------------------------
James R. Lee
Columbus, Ohio (2) EVP
- ------------------------------------------------------------------------------------------------------------------
J. Richard Lisenby
Houston, Texas (8)
- ------------------------------------------------------------------------------------------------------------------
Richard E. Lowe
Wilmington, Delaware (1)
- ------------------------------------------------------------------------------------------------------------------
Thomas C. Luffy
Columbus, Ohio (2) T
- ------------------------------------------------------------------------------------------------------------------
George P. MacNichol, III
Perrysburg, Ohio (35)
- ------------------------------------------------------------------------------------------------------------------
Philip Magley
Wilmington, Delaware (15)
- ------------------------------------------------------------------------------------------------------------------
R. A. Manson
Upper St. Clair,
Pennsylvania (38) VP
- ------------------------------------------------------------------------------------------------------------------
R. C. Mauch
Valley Forge, Pennsylvania (23)
- ------------------------------------------------------------------------------------------------------------------
Gilbert A. Martin
Washington, DC (12) VP VP
- ------------------------------------------------------------------------------------------------------------------
Gerald E. Mayo
Columbus, Ohio (24)
- ------------------------------------------------------------------------------------------------------------------
Dennis W. McFarland
Columbus, Ohio (2) VP
- ------------------------------------------------------------------------------------------------------------------
James A. McGehee, Jr. VP VP
Richmond, Virginia (17) D D
- ------------------------------------------------------------------------------------------------------------------
H. M. Melton, Jr.
Charleston, West Virginia (9) VP VP
- ------------------------------------------------------------------------------------------------------------------
Leslie M. Moor, Jr.
Houston, Texas (8)
- ------------------------------------------------------------------------------------------------------------------
William F. Morse P
Columbus, Ohio (15) VP D
- ------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 24
PAGE 23
ITEM 6. Continued
<TABLE>
<CAPTION>
============================================================================================================================
CG AEI CAT CGC CGD CKY CMD COH CPA CS CTIC
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
P. R. Murphy
Pittsburgh, Pennsylvania (29)
- ----------------------------------------------------------------------------------------------------------------------------
Terrence J. Murphy
Harrisburg, Pennsylvania (25) VP
- ----------------------------------------------------------------------------------------------------------------------------
Michael W. O'Donnell EVP SVP
Wilmington, Delaware (1) CFO D D D D D D CFO, D
- ----------------------------------------------------------------------------------------------------------------------------
Mark P. O'Flynn
Charleston, West Virginia (9) D
- ----------------------------------------------------------------------------------------------------------------------------
Edward R. O'Leary
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------
James M. O'Sullivan
Columbus, Ohio (2) VP VP VP VP
- ----------------------------------------------------------------------------------------------------------------------------
John W. Partridge, Jr.
Columbus, Ohio (2) VP VP VP VP
- ----------------------------------------------------------------------------------------------------------------------------
Benjamin D. Perine
Houston, Texas (13)
- ----------------------------------------------------------------------------------------------------------------------------
John K. Pfahl
Columbus, Ohio (26) D
- ----------------------------------------------------------------------------------------------------------------------------
R. Neal Pierce, Jr.
Charleston, West Virginia (3) S
- ----------------------------------------------------------------------------------------------------------------------------
Paul H. Pieri
Houston, Texas (13)
- ----------------------------------------------------------------------------------------------------------------------------
Enesta G. Procope
Malba, Long Island, New York (27) D
- ----------------------------------------------------------------------------------------------------------------------------
Edward A. Reid, Jr.
Columbus, Ohio (2) VP VP VP VP
- ----------------------------------------------------------------------------------------------------------------------------
Gary J. Robinson COO COO
Columbus, Ohio (2) P, D P, D
- ----------------------------------------------------------------------------------------------------------------------------
R. Larry Robinson
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------
Ellwood I. Shoemaker
Columbus, Ohio (2) VP VP VP VP
- ----------------------------------------------------------------------------------------------------------------------------
George E. Shriver
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 25
PAGE 24
ITEM 6. Continued
<TABLE>
<CAPTION>
==========================================================================================================================
TCO CGT CPC CLG CNR COS CPI CES TVC TCC
(a) (b) (c)
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
P. R. Murphy
Pittsburgh, Pennsylvania (29) VP
- --------------------------------------------------------------------------------------------------------------------------
Terrence J. Murphy
Harrisburg, Pennsylvania (25)
- --------------------------------------------------------------------------------------------------------------------------
Michael W. O'Donnell
Wilmington, Delaware (1) D D D D D D D D D
- --------------------------------------------------------------------------------------------------------------------------
Mark P. O'Flynn SVP, D SVP, D
Charleston, West Virginia (9) CFO, T CFO, T
- --------------------------------------------------------------------------------------------------------------------------
Edward R. O'Leary
Charleston, West Virginia (9) T T
- --------------------------------------------------------------------------------------------------------------------------
James M. O'Sullivan
Columbus, Ohio (2) VP
- --------------------------------------------------------------------------------------------------------------------------
John W. Partridge, Jr.
Columbus, Ohio (2) VP
- --------------------------------------------------------------------------------------------------------------------------
Benjamin D. Perine
Houston, Texas (13) SVP SVP
- --------------------------------------------------------------------------------------------------------------------------
John K. Pfahl
Columbus, Ohio (26)
- --------------------------------------------------------------------------------------------------------------------------
R. Neal Pierce, Jr.
Charleston, West Virginia (3) S
- --------------------------------------------------------------------------------------------------------------------------
Paul H. Pieri
Houston, Texas (13) VP
- --------------------------------------------------------------------------------------------------------------------------
Enesta G. Procope
Malba, Long Island, New York (27) D
- --------------------------------------------------------------------------------------------------------------------------
Edward A. Reid, Jr.
Columbus, Ohio (2) VP
- --------------------------------------------------------------------------------------------------------------------------
Gary J. Robinson
Columbus, Ohio (2)
- --------------------------------------------------------------------------------------------------------------------------
R. Larry Robinson P P
Charleston, West Virginia (9) D D
- --------------------------------------------------------------------------------------------------------------------------
Ellwood I. Shoemaker
Columbus, Ohio (2) VP
- --------------------------------------------------------------------------------------------------------------------------
George E. Shriver
Charleston, West Virginia (9) VP
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 26
PAGE 25
ITEM 6. Continued
<TABLE>
<CAPTION>
==================================================================================================================================
CG AEI CAT CGC CGD CKY CMD COH CPA CS CTIC
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Kathryn I. Shroyer
Columbus, Ohio (2) VP VP VP VP
- ----------------------------------------------------------------------------------------------------------------------------------
Robert C. Skaggs, Jr. EVP EVP EVP EVP
Columbus, Ohio (2) D D D D
- ----------------------------------------------------------------------------------------------------------------------------------
S. J. Small (9)
Charleston, West Virginia (9) S
- ----------------------------------------------------------------------------------------------------------------------------------
Andrew J. Sonderman GC GC GC GC
Columbus, Ohio (2) S S S S
- ----------------------------------------------------------------------------------------------------------------------------------
J. W. Stancik
Huntington, West Virginia (28)
- ----------------------------------------------------------------------------------------------------------------------------------
Leslie Strand
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
James R. Thomas II
Charleston, West Virginia (36) D
- ----------------------------------------------------------------------------------------------------------------------------------
C. Ronald Tilley CB, D CB, D CB, D CB, D
Columbus, Ohio (2) CEO CEO CEO CEO D
- ----------------------------------------------------------------------------------------------------------------------------------
Jerry A. Tischer
Richmond, Virginia (17)
- ----------------------------------------------------------------------------------------------------------------------------------
James W. Trost
Wilmington, Delaware (1) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Anthony Trubisz, Jr.
Upper St. Clair, Pennsylvania (29)
- ----------------------------------------------------------------------------------------------------------------------------------
John Van Dyke
Houston, Texas (13)
- ----------------------------------------------------------------------------------------------------------------------------------
Logan W. Wallingford SVP
Wilmington, Delaware (1) D D D D
- ----------------------------------------------------------------------------------------------------------------------------------
Bernard T. Walsh
Westerville, Ohio (30)
- ----------------------------------------------------------------------------------------------------------------------------------
Stephen M. Warnick
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
Robert W. Welch, Jr.
Wilmington, Delaware (1) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Robert B. Wemyss, Jr.
Richmond, Virginia (17)
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 27
PAGE 26
ITEM 6. Continued
<TABLE>
<CAPTION>
==================================================================================================================================
TCO CGT CPC CLG CNR COS CPI CES TVC TCC
(a) (b) (c)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Kathryn I. Shroyer
Columbus, Ohio (2) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Robert C. Skaggs, Jr. EVP
Columbus, Ohio (2) D
- ---------------------------------------------------------------------------------------------------------------------------------
S. J. Small (9) GC GC
Charleston, West Virginia (9) S S
- ---------------------------------------------------------------------------------------------------------------------------------
Andrew J. Sonderman GC
Columbus, Ohio (2) S
- ----------------------------------------------------------------------------------------------------------------------------------
J. W. Stancik
Huntington, West Virginia (28) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Leslie Strand
Charleston, West Virginia (9) VP
- ----------------------------------------------------------------------------------------------------------------------------------
James R. Thomas II
Charleston, West Virginia (36) D
- ----------------------------------------------------------------------------------------------------------------------------------
C. Ronald Tilley CB, D
Columbus, Ohio (2) CEO
- ----------------------------------------------------------------------------------------------------------------------------------
Jerry A. Tischer
Richmond, Virginia (17) VP
- ----------------------------------------------------------------------------------------------------------------------------------
James W. Trost
Wilmington, Delaware (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Anthony Trubisz, Jr. P
Upper St. Clair, Pennsylvania (29) D
- ----------------------------------------------------------------------------------------------------------------------------------
John Van Dyke
Houston, Texas (13) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Logan W. Wallingford
Wilmington, Delaware (1) D D D D D D
- ----------------------------------------------------------------------------------------------------------------------------------
Bernard T. Walsh
Westerville, Ohio (30) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Stephen M. Warnick
Charleston, West Virginia (9) VP VP
- ----------------------------------------------------------------------------------------------------------------------------------
Robert W. Welch, Jr.
Wilmington, Delaware (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Robert B. Wemyss, Jr.
Richmond, Virginia (17) VP
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 28
PAGE 27
ITEM 6. Continued
<TABLE>
<CAPTION>
==================================================================================================================================
CG AEI CAT CGC CGD CKY CMD COH CPA CS CTIC
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
William H. White
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
Larry L. Willeke
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
Lowell E. Williams
Houston, Texas (8) S
- ----------------------------------------------------------------------------------------------------------------------------------
William R. Wilson
Exton, Pennsylvania (31) D D
- ----------------------------------------------------------------------------------------------------------------------------------
K. Fredrick Wrenn, Jr.
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
Joseph V. Yandoli
Wilmington, Delaware (1) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Nazzi Cameo Zola
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 29
PAGE 27
ITEM 6. Continued
<TABLE>
<CAPTION>
==================================================================================================================================
TCO CGT CPC CLG CNR COS CPI CES TVC TCC
(a) (b) (c)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
William H. White
Charleston, West Virginia (9) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Larry L. Willeke
Charleston, West Virginia (9) VP VP
- ----------------------------------------------------------------------------------------------------------------------------------
Lowell E. Williams
Houston, Texas (8)
- ----------------------------------------------------------------------------------------------------------------------------------
William R. Wilson
Exton, Pennsylvania (31)
- ----------------------------------------------------------------------------------------------------------------------------------
K. Fredrick Wrenn, Jr.
Charleston, West Virginia (9) VP VP
- ----------------------------------------------------------------------------------------------------------------------------------
Joseph V. Yandoli
Wilmington, Delaware (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Nazzi Cameo Zola C C
Charleston, West Virginia (9) VP VP
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 30
PAGE 29
ITEM 6. Continued
Part II. Financial connections as of December 31, 1994*.
<TABLE>
<CAPTION>
Position
Held In Applicable
Name of Officer Name and Location of Financial Exemption
or Director Financial Institution Institution Rule
(1) (2) (3) (4)
- ------------------ --------------------------- -------------- ---------------
<S> <C> <C> <C>
William E. Lavery First Union Director 70(a) & 70(c)
Corporation of Virginia,
Roanoke, Virginia
Gerald E. Mayo Huntington Bancshares Director 70(a) & 70(c)
Incorporated, Columbus, OH
C. Ronald Tilley National City Bank, Director 70(c)
Columbus, Ohio
James R. Thomas One Valley Bank, N.A. Director 70(b) & 70(d)
Charleston, West Virginia
</TABLE>
* Since such information rests peculiarly within the knowledge of the
respective officers and directors, the Registrant disclaims responsibility
for the accuracy and completeness of such information.
<PAGE> 31
PAGE 30
ITEM 6. Continued
Part III(a). Compensation of officers and directors. (See Note to Item 6
on Page 41 for further details concerning compensation information on
Mr. Oliver G. Richard III.)
EXECUTIVE COMPENSATION
COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS
EXECUTIVE COMPENSATION REPORT TO STOCKHOLDERS
GENERAL - Through its Compensation Committee ("Committee"), the Board
of Directors has developed an executive compensation philosophy and
programs to implement that philosophy. These programs combine to form
the basis of the Corporation's total compensation plan for senior
management.
COMPENSATION PHILOSOPHY - The Board of Directors believes that total
compensation is not only payment for services rendered to the
Corporation but also a means to provide a strong motivational vehicle
for the achievement of key financial and strategic goals. The
Corporation provides executives with the opportunity to increase their
total compensation above base salary through annual and longer-term
incentive compensation programs. Incentive compensation goals are
established such that their achievement will result in added value to
the Corporation over reasonable periods of time. This is how
compensation is linked to corporate performance. The Corporation's
executive compensation program is designed to:
-- provide annual cash compensation and benefit levels that
target the median of the marketplace in similar-sized utility
and industrial companies;
-- maintain equitable relationships among the compensation
levels established for all jobs within the Corporation;
-- provide for the recognition of performance delivered
year-to-year and over the long term; and
-- ensure that appropriate controls are in place for
compensation to be fully earned.
Because of the Corporation's size and integrated nature, a number of
well-known utility and industrial executive compensation surveys are
utilized to determine competitive remuneration for executives. Most
of the companies in the S&P Natural Gas Utility Index are included in
one or more of these surveys. However, no single executive
compensation survey covers all of the companies in the S&P Natural Gas
Utility Index.
The Corporation's incentive compensation programs were suspended in
1991 due to the reduction in the dividend on Common Stock and the
filing for bankruptcy protection by the Corporation. This suspension
has been continued through 1994 for stock-based incentive programs.
<PAGE> 32
PAGE 31
IMPLEMENTATION OF PHILOSOPHY - The Corporation's executive
compensation program is administered by the Committee. The Committee
is composed of seven independent, nonemployee Directors. The
Corporation's executive "total compensation" program consists of the
following:
(1) Base Salary Program,
(2) Annual Incentive Compensation Plan,
(3) Long-Term Incentive Plan,
(4) Performance Share Program,
(5) Benefit Plans, and
(6) Other Arrangements.
(1) Base Salary - A base salary range is established for each
executive position based on an overall evaluation of the
position's content and a comparison of compensation levels of
similar positions in the external market. Competitive base
salary levels are needed to attract and retain competent
executives. Individual performance reviews are conducted at
least annually and are used, along with the relative position
of the individual's salary within the salary range, to
determine if any increase to base salary is warranted.
Increases are based on individual performance and are not
automatic. Based on the utility and industrial compensation
surveys referred to above, the base salary levels for the
named executive officers as a group approximates the median
for similar executives with corporations of similar size and
complexity. A range of merit opportunities is
pre-established on a uniform basis and the level of increase
within that range is based on an assessment of an
individual's management skills and achievement against a
variety of pre-established corporate and operating company
goals. These goals include specific Return on Invested
Capital ("ROIC") as well as other organizational goals
pertaining to their individual business unit. Each of the
goals is weighted and assigned to each individual according
to its importance and impact on the business unit. The
achievement of financial measures is given high priority but
the percentage will vary based on the individual's position
within the organization.
(2) Annual Incentive Compensation Plan - This Plan, which was
adopted in 1987, provides the opportunity for payment of cash
awards to key employees for attainment of specific goals
which contribute directly to the present and future financial
health of the Corporation. The Committee determines
eligibility and individual award opportunity levels and
establishes annual corporate and subsidiary company
performance targets. These targets include ROIC and other
measures for improving stockholder value. Additionally,
individual performance goals are established each year in
accordance with business plans. Award opportunity levels may
range from 15 percent to a maximum of 60 percent of base
salary. The Plan provisions state that no award will be paid
for any year in which the Corporation's dividend level is
reduced. This Plan was suspended in mid-1991 and has
continued in suspension through 1994. An interim cash
performance award program was authorized by the Compensation
Committee in 1992. Eligibility for consideration in the
Interim Cash Performance Award Program is based on the
individual's level of responsibility within the organization
and ability to contribute to the financial performance of the
company. The award opportunities for 1993 ranged from zero
to 15 percent of an individual's annual salary based on
performance against pre-set goals. In 1994 the maximum was
increased to 20 percent. The higher the achievement and
contribution to the company, the
<PAGE> 33
PAGE 32
larger the potential award could be. Performance measures
include specific ROIC financial targets as reflected in the
company's strategic business plan and other organizational
goals which can contribute to the success of the company. The
award for 1993 performance was awarded in 1994. The award for
1994 performance will not be determined nor awarded until
later in 1995.
(3) Long-Term Incentive Plan - The Long-Term Incentive Plan,
which was adopted in 1986, provides additional incentives to
officers and other key employees of System companies through
the granting of incentive stock options, nonqualified stock
options, stock appreciation rights and/or contingent stock
awards. The Plan is administered by the Committee, no member
of which is eligible to participate in the Plan. The
Committee considers both organizational level and individual
performance in determining eligibility and the number of
shares to be awarded. This Plan was suspended in mid-1991
and has continued in suspension through 1994. The Committee
at its December 20, 1994 meeting decided that it would be
appropriate to resume this plan during 1995 and directed
management to address any procedural or other requirements
for implementation.
(4) Performance Share Program - This Program, which was adopted
in 1990, provides for the payment of contingent stock awards
to senior executives if specific predetermined financial
targets are attained in future years. The objective of this
Program is to focus executive attention on longer-term
strategic performance. Two separate performance measures are
used for this Plan. They are return on equity and total
stockholder return equal to or better than the median of a
peer group of companies in each of the three subsequent
years. This program was suspended in mid-1991 and has
continued in suspension through 1994
(5) Benefit Plans - The Corporation maintains Thrift, Retirement,
Medical, Dental, Long-Term Disability, Life Insurance and
other benefit plans of general applicability. Federal
regulations establish limits on the benefits which may be
paid under Thrift and Retirement Plans qualified under the
Internal Revenue Code. To maintain compliance, the
Corporation caps benefits under the qualified plans at the
required levels. To provide comparable benefits to more
highly-compensated employees, the Corporation has established
a Thrift Restoration Plan and a Pension Restoration Plan,
both of which are nonqualified and unfunded. However, the
Pension Restoration Plan may be funded through a trust
arrangement at the election of the beneficiary once a
threshold liability of $100,000 has been reached. The
Compensation Committee views these supplemental plans as part
of base compensation.
(6) Other Arrangements - When circumstances warrant, the
Corporation can enter into agreements seeking to retain the
services of experienced management during periods of
financial uncertainty. Such agreements were entered into in
July, 1991 and expired in 1993. In order to retain
experienced management, the Compensation Committee authorized
the execution of new agreements upon approval by the
Bankruptcy Court. For a more detailed description of the
agreements, please see "Employment and Retention Agreements"
below on page 38.
<PAGE> 34
PAGE 33
DEDUCTIBILITY OF COMPENSATION - The Compensation Committee has
reviewed the potential impact on the Corporation of Section 162(m) of
the Internal Revenue Code ("IRC") which imposes a limit on tax
deductions the Corporation may claim for annual compensation in excess
of one million dollars paid to any of the five most highly compensated
executive officers. The Committee has determined that under current
compensation arrangements the impact of the Section 162(m) on the
Corporation would be limited, if applicable at all, and, therefore,
has decided not to take any action at this time to meet the
requirements for an exemption for "performance based compensation."
However, the Corporation's Long-Term Incentive Plan will terminate in
1995 and the Committee will reassess its position on the exemption
provided for under IRC Section 162(m) at such time as a new plan may
be proposed to the Corporation's stockholders.
EVALUATION PROCESS - Each year, the Board of Directors of the
Corporation reviews and approves Strategic Business and Financial
Plans for the Corporation and each of its subsidiaries. In addition
to various business strategies, these plans include specific financial
targets such as ROIC or other measures to evaluate whether stockholder
value has increased.
The goals set forth in these Strategic Plans are the bases for
performance of the CEO of the Corporation and other senior executives
whose compensation falls under the direct purview of the Committee.
Attainment of meaningful strategic objectives over reasonable time
periods increase value to stockholders, and the increased compensation
opportunities for executives are directly linked to the attainment of
these objectives.
1994 Chief Executive Officer Pay
BASE SALARY - At its March 15, 1994 meeting the Compensation Committee of the
Board of the Corporation decided that Mr. Croom's base salary should be
increased to $692,000, a 4.9 percent annualized increase to be effective April
1, 1994. This merit increase was made within the guidelines established under
Columbia's Executive Compensation Program as described in section 1 above. The
increase was given in recognition for attainment of certain predetermined
Corporate objectives and ROIC goals. This compensation action competitively
positions his base pay within the established salary range and reflects the
salary movement of similar positions in Columbia's peer group comparisons.
ANNUAL INCENTIVE PLAN - Under the provisions of the Interim Annual Incentive
Plan as described in section 2 on page 31, the Committee approved a cash award
for Mr. Croom of $50,000 or approximately 7.7 percent of his base pay to
recognize the attainment during 1993 of predetermined financial performance
targets based primarily on corporate and operating company ROIC goals. This
award was granted in accordance with Columbia's "Pay for Performance"
compensation philosophy for its executives.
LONG-TERM INCENTIVE PLAN - No stock-based incentive awards were granted to Mr.
Croom during 1994.
<TABLE>
<CAPTION>
COMPENSATION COMMITTEE:
<S> <C> <C>
Wilson K. Cadman, Chairman William E. Lavery George P. McNichol, III
Robert H. Beeby James P. Heffernan James R. Thomas, II
Thomas S. Blair
</TABLE>
<PAGE> 35
PAGE 34
The compensation for services in all capacities paid during the year
1994 to the executive officers of the Corporation was as follows:
<TABLE>
<CAPTION>
S U M M A R Y C O M P E N S A T I O N T A B L E
- ------------------------------------------------------------------------------------------------------------
Long-Term Compensation
ANNUAL COMPENSATION -------------------------------------
Awards Payouts
- ------------------------------------------------------------------------------------------------------------
(a) (b) (c) (d) (f) (g) (h) (i)
- ------------------------------------------------------------------------------------------------------------
Name and
Principal Restricted Options - LTIP All Other
Position (1) Year Salary Bonus Stock SARs Payouts Comp. (2)
Awards
- ------------------------------------------------------------------------------------------------------------
$ $ $ # $ $
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
J. H. CROOM 1994 682,000 -0-(3) -0- -0- -0- 40,720
----------------------------------------------------------------------------------------
Chairman, CEO 1993 652,000 50,000(4) -0- -0- -0- 39,432
& President ----------------------------------------------------------------------------------------
1992 615,725 -0- -0- -0- -0- 13,732
- ------------------------------------------------------------------------------------------------------------
D. L. BELL, JR. 1994 299,200 -0-(3) -0- -0- -0- 17,908
----------------------------------------------------------------------------------------
Senior Vice 1993 292,600 29,260(4) -0- -0- -0- 17,584
President, Chief ----------------------------------------------------------------------------------------
Legal Officer &
Secretary 1992 283,218 -0- -0- -0- -0- 13,732
- ------------------------------------------------------------------------------------------------------------
J. P. HOLLAND . 1994 295,020 -0-(3) -0- -0- -0- 13,167
----------------------------------------------------------------------------------------
Chairman & CEO of 1993 273,180 32,782(4) -0- -0- -0- 12,271
Corporation's Gas ----------------------------------------------------------------------------------------
Transmission 1992 256,900 -0- -0- -0- -0- 10,299
Segment
- ------------------------------------------------------------------------------------------------------------
M. W. O'DONNELL 1994 286,025 79,290 -0- -0- -0- 12,741
(3)(5)
----------------------------------------------------------------------------------------
Senior Vice 1993 210,879 26,000(4) -0- -0- -0- 9,135
President & Chief ----------------------------------------------------------------------------------------
Financial Officer 1992 189,932 22,248(6) -0- -0- -0- 7,908
- ------------------------------------------------------------------------------------------------------------
C. R. TILLEY 1994 345,175 349,600 -0- -0- -0- 20,622
(3)(7)
----------------------------------------------------------------------------------------
Chairman & CEO 1993 331,900 30,000(4) -0- -0- -0- 19,882
Corporation's Gas ----------------------------------------------------------------------------------------
Distribution
Segment 1992 302,099 -0- -0- -0- -0- 13,732
- ------------------------------------------------------------------------------------------------------------
L. W. WALLINGFORD 1994 260,150 95,445 -0- -0- -0- 11,600
(3)(5)
----------------------------------------------------------------------------------------
Senior Vice 1993 238,700 28,644(4) -0- -0- -0- 10,733
President of ----------------------------------------------------------------------------------------
Columbia Gas 1992 223,432 22,520(6) -0- -0- -0- 9,966
System Service
Corp.
- ------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Includes CEO and four most highly-compensated executives whose salary and
bonus exceed $100,000 ("Named Executive Officers"). A fifth executive
officer is included to avoid a one-year aberration in reporting due to
special bonuses. The compensation to all officers as a group, namely those
listed in Part I, totaled $18,337,831.
<PAGE> 36
PAGE 35
(2) Unless otherwise stated, reflects company contributions to the Employees'
Thrift Plan which is qualified under the Internal Revenue Code and the
Thrift Restoration Plan, a nonqualified plan. The contributions to all
other officers, namely those listed in Part I, totaled $691,434.
(3) Amounts earned with respect to 1994 performance under Interim Cash
Performance Award Program were disclosed in the Disclosure Statement
Pursuant to Section 1125 of the Bankruptcy Code for the Plan of
Reorganization of the The Columbia Gas Sytstem, Inc. dated April 17, 1995
(Disclosure Statement). Reference is made to page X-46 of the Disclosure
Statement filed on Form 8-K with the Commission on April 20, 1995 (File
No. 1-1098), incorporated herein by reference.
(4) Bonus paid in 1994 with respect to 1993 performance under Interim Cash
Performance Award Program.
(5) Payment provided pursuant to Retention Agreement as described under
"Employment and Retention Agreements."
(6) Received pursuant to the 1992 Interim Cash Performance Award Program (see
"Compensation Committee of the Board of Directors Executive Compensation
Report to Stockholders") when the individual was not a Named Executive
Officer.
(7) Payment provided pursuant to Employment Agreement as described under
"Employment and Retention Agreements."
<PAGE> 37
PAGE 36
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
OPTION/SAR GRANTS IN LAST FISCAL YEAR
- ------------------------------------------------------------------------------------------------------------------------------------
Individual Grants Potential Realizable Value at
Assumed Annual Rates of Stock Price
Appreciation for Option Term
- ------------------------------------------------------------------------------------------------------------------------------------
(a) (b) (c) (d) (e) (f) (g)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Name Options/SARs % of Total Options/SARs Exercise or Expiration 5% ($) 10% ($)
Granted Granted to Employees in Base Price Date
Fiscal Year ($/Sh)
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
---NO STOCK OPTION GRANTS WERE MADE BY THE CORPORATION DURING 1994---
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
AGGREGATED OPTION/SAR EXERCISES IN LAST FISCAL YEAR
AND YEAR-END OPTION/SAR VALUES
-----------------------------------------------------------------------------------------------------------------------
(a) (b) (c) (d) (e)
-----------------------------------------------------------------------------------------------------------------------
Number of Unexercised Value of Unexercised
Options/SARs at In-the-Money Options/SARs
Year-End at Year-End ($)
-----------------------------------------------------------------------------------------------------------------------
Number of Value Realized Exercisable/ Exercisable/
Name Shares Acquired ($) (1) Unexercisable Unexercisable (1)
on Exercise
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
J. H. Croom -0- -0- 95,600/0 0/0
-----------------------------------------------------------------------------------------------------------------------
C. R. Tilley -0- -0- 16,500/0 0/0
-----------------------------------------------------------------------------------------------------------------------
D. L. Bell, Jr. -0- -0- 23,400/0 0/0
-----------------------------------------------------------------------------------------------------------------------
J. P. Holland -0- -0- 10,960/0 0/0
-----------------------------------------------------------------------------------------------------------------------
L. W. Wallingford -0- -0- 14,490/0 0/0
-----------------------------------------------------------------------------------------------------------------------
M. W. O'Donnell -0- -0- 7,990/0 0/0
-----------------------------------------------------------------------------------------------------------------------
All Other Officers (Part I) -0- -0- 377,785/31,250 0/0
-----------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Market value of underlying securities at exercise or year-end, minus
the exercise or base price.
<PAGE> 38
PAGE 37
PERFORMANCE TABLE
The following table demonstrates a five-year comparison of cumulative
total returns for the Corporation, the S&P 500, and the S&P Natural
Gas Utility Index.
FIVE-YEAR COMPARISON OF CUMULATIVE TOTAL RETURN(1)
<TABLE>
<CAPTION>
---------------------------------------------------------------------
1989 1990 1991 1992 1993 1994
$ $ $ $ $ $
----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Columbia Gas 100 94.27 35.66 39.53 46.25 48.58
----------------------------------------------------------------------------------------------
S&P 500 Index 100 96.89 126.42 136.05 149.76 151.74
----------------------------------------------------------------------------------------------
S&P Natural Gas 100 87.53 76.10 84.06 99.81 95.21
Utility Index
----------------------------------------------------------------------------------------------
</TABLE>
(1) Assumes $100 invested on December 31, 1989 and reinvestment of
dividends.
RETIREMENT INCOME PLAN - A noncontributory defined benefit pension plan is
maintained for all employees of the Corporation's participating subsidiaries
who are at least 21 years of age. The annual benefit (payable monthly) under
the pension plan is based upon final average annual compensation and years of
credited service. Final average annual compensation is calculated using base
compensation (shown in the "Summary Compensation Table" as "Salary") paid to
the employee for the highest 36 months of the last 60 months prior to
retirement.
Estimated annual benefits payable upon retirement are as follows with respect
to the specified remuneration and years of credited service.
Estimated Annual Benefits as of January 1, 1994 from Retirement Income Plan(1):
<TABLE>
<CAPTION>
Representative Years of Credited Service (2)
Final Average ---------------------------------------------------
Annual Compensation 20 25 30 35 40
- ------------------- ------- ------- ------- ------- -------
$ $ $ $ $ $
<S> <C> <C> <C> <C> <C>
200,000 57,858 72,322 86,787 91,787 96,787
300,000 87,858 109,822 131,787 139,787 146,787
400,000 117,858 147,322 176,787 186,787 196,787
500,000 147,858 184,822 221,787 234,787 246,787
600,000 177,858 222,322 266,787 281,787 296,787
700,000 207,858 259,822 311,787 329,787 346,787
800,000 237,858 297,322 356,787 376,787 396,787
</TABLE>
(A) Estimates are based upon a straight-life annuity and the assumptions that
(a) the Corporation's present retirement plan will be maintained and (b)
retirement will not occur before age 65. These benefits are not subject
to deduction for social security or other charges. Should an annual
benefit exceed limitations imposed by federal law, the excess will be
paid by the participating subsidiary as a supplemental pension under the
Pension Restoration Plan. If the supplemental pension liability exceeds
$100,000, then this liability may be either unfunded or funded through a
trust arrangement at the option of the individual. The following
executive officers have elected to have their accrued supplemental
pension funded through a trust arrangement. Contributions made in 1994
were as follows: Mr. Croom - $203,600; Mr. Tilley - $91,600; and Mr.
Wallingford - $65,700. Messrs. O'Donnell and Holland's liabilities have
not yet reached $100,000 so no contributions have been made on their
behalf. Mr. Bell did not receive a contribution as his supplemental
pension liability has been fully funded by
<PAGE> 39
PAGE 38
earlier contributions. Such supplemental pensions are not available to
these executives until retirement or termination of employment.
(B) As of January 1, 1995, the credited years of service for the individuals
named in the Summary Compensation Table were as follows: Mr. Croom, 40
years; Mr. Tilley, 37 years; Mr. Bell, 36 years; Mr. Holland, 19 years;
Mr. Wallingford, 39 years and Mr. O'Donnell, 23 years.
EMPLOYMENT AND RETENTION AGREEMENTS
Employment Agreements which were effective July 19, 1991, for Messrs. J.
H. Croom; D. L. Bell, Jr.; C. R. Tilley; and J. P. Holland, expired on
July 18, 1993. The Compensation Committee, in order to retain incumbent
management through the ongoing Bankruptcy process, authorized the
execution of modified Employment Agreements with the aforementioned four
executives and Mr. R. L. Robinson, President of Columbia Gas
Transmission Corporation, effective July 19, 1993. These contracts were
approved by the Bankruptcy Court on October 20, 1993.
The Employment Agreements, executed in 1993 by the Corporation and
Messrs. J. H. Croom and D. L. Bell each provide for retention payments
equivalent to one year's base salary if the individual remains employed
at the date of confirmation of the Corporation's reorganization plan by
the Bankruptcy Court. The Employment Agreements with Messrs. J. P.
Holland and R. L. Robinson provide for retention payments equivalent to
one year's base salary if the individual is still in the employ of
Columbia Gas Transmission Corporation or the Corporation at the date of
confirmation by the Bankruptcy Court of a Plan of Reorganization for
Columbia Gas Transmission Corporation. The Employment Agreement for Mr.
C. R. Tilley, Chairman and CEO of the distribution companies, is a
two-year agreement which expires July 19, 1995 and provides for the
payment of an amount equivalent to one year's base pay on July 19, 1994.
Each Employment Agreement also states that the employee may treat his
employment as terminated without cause if one of the following occurs:
(1) a reduction in the employee's fixed salary or other benefits to which
such employee is entitled (other than a reduction affecting all employees
generally); (2) a liquidation, dissolution, consolidation or merger, or
transfer of all or substantially all of the Corporation's assets (other
than a transaction in which the successor corporation has a net worth
equal to or greater than that of the Corporation and assumes the
agreement and all its obligations and undertakings); or (3) a change in
control of the Corporation (as defined in the agreement) or a material
reduction of the employee's rank or responsibilities. In the event of
such an election by an employee to treat the agreement as terminated or
in the event of a termination by the Corporation not permitted by the
agreement, the employee is entitled to continue to receive his fixed
salary and specified fringe benefits for a period of 12 months but is not
entitled to a retention award. If such a termination occurs during the
180-day period immediately following a change in control, the employee is
entitled to receive, in lieu of the retention payments just described, a
lump-sum termination payment equal to the present value of all amounts
otherwise payable under the agreement (except certain fringe benefits),
discounted by the interest rate specified in the agreement. In addition,
if their employment is terminated other than for cause, Messrs. J. P.
Holland and R. L. Robinson each would be entitled to receive supplemental
income payments and
<PAGE> 40
PAGE 39
medical/dental benefits from the first anniversary of the termination to
the attainment of age 55, the earliest date under which they could
qualify for retirement benefits under the Corporation's retirement
program. These supplemental income payments approximate 60% of the
annual pension income earned as of the date of execution of the
employment agreements and payable at age 55.
As of January 1, 1995, annual salaries for the named executives with
Employment Agreements are as follows: Mr. Croom - $692,000; Mr. Tilley
- $349,600; Mr. Bell - $301,400; and Mr. Holland - $302,300.
On July 19, 1991, the Corporation entered into 31 Retention Agreements
with key management employees of various subsidiary companies. These
agreements provided for specified individual awards. Messrs. M. W.
O'Donnell and L. W. Wallingford were holders of such a Retention
Agreement providing for the payment of an award in the amount of $79,290
and $94,445, respectively on July 19, 1994, if he has continued to be in
the employ of Columbia Gas System Service Corporation or the Corporation
until that date. Both met that requirement as did the other 29 key
management employees and these agreements expired and appropriate amounts
were paid out on July 19, 1994.
DIRECTORS' COMPENSATION
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------
1994 Directors' Compensation for Board and Committee Meetings:
-------------------------------------------------------------------------------------
Retainer Meeting Fee Chairman's Fee
$ $ $
-------------------------------------------------------------------------------------
<S> <C> <C> <C>
Board 22,000 1,000 -
-------------------------------------------------------------------------------------
Audit - 1,000 3,000
-------------------------------------------------------------------------------------
Compensation - 1,000 3,000
-------------------------------------------------------------------------------------
Executive 6,000 800 -
-------------------------------------------------------------------------------------
Finance - 1,000 3,000
-------------------------------------------------------------------------------------
Corporate - 1,000 3,000
Governance
-------------------------------------------------------------------------------------
Ad Hoc Committees - 1,000 -
-------------------------------------------------------------------------------------
</TABLE>
No officer received any compensation for services as a Director while
also serving as an officer of the Corporation. The Board held eleven
meetings during 1994. Each incumbent Director attended at least 75
percent of the total number of meetings of the Board and Board Committees
on which he or she served.
The Corporation offers medical coverage to nonemployee Directors and pays
the premium associated with their participation. The Corporation also
reimburses them for the cost of Medicare Part B, if applicable.
Nonemployee Directors may elect to defer compensation for distribution at
a later date. Deferred amounts will accrue interest at the rate for
six-month Treasury bills and may be paid in a lump sum or in annual
installments over ten years. Deferred amounts will be automatically paid
in a lump sum following certain specified changes in control of the
Corporation.
<PAGE> 41
PAGE 40
Each nonemployee Director with a minimum of five years' service on
the Board who retires after attaining age 70 or becomes disabled will
receive annual retirement payments equal to the amount of the annual
retainer at the time of retirement. These payments will cease at the
death of the Director. In the event of certain specified changes in
control of the Corporation, a Director (regardless of years of
service on the Board) may elect a lump-sum payment equal to the
present value of the retainer at the time of the election times the
number of years of Board service, with a minimum of ten years.
The directors' compensation amounted to $685,000.
ITEM 6. Part III(b). Securities ownership
The following table sets forth the beneficial ownership of Common
Stock by stockholders who own greater than 5% of the outstanding
shares, as of February 10, 1995, by those of the five most
highly-compensated current executive officers who are not Directors
(see "Information Regarding Directors" for security ownership by
Directors), and by all Directors and executive officers of the
Corporation as a group. Except as otherwise noted, the persons named
in the table below have sole voting and investment power with respect
to all shares shown as beneficially owned by them.
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
(1) (2) (3) (4)
Title Name and Address Percent
of Amount and Nature of of Class
Class Beneficial Ownership
----------------------------------------------------------------------
Shared Sole Shared Sole
Voting Voting Investment Investment Total
Power Power Power Power Owned
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Common Prudential Insurance
Corp. of America
Prudential Plaza 2,558,775 131,583 2,590,575 131,583 2,722,158 5.4%
Newark, NJ 07102-3777
- ----------------------------------------------------------------------------------------------------------
Common D. L. Bell, Jr. 6,947(1) *
- ----------------------------------------------------------------------------------------------------------
Common J. P. Holland 2,811(1) *
- ----------------------------------------------------------------------------------------------------------
Common M. W. O'Donnell 3,566(1) *
- ----------------------------------------------------------------------------------------------------------
Common C. R. Tilley 7,267(1) *
- ----------------------------------------------------------------------------------------------------------
Common L. W. Wallingford 6,593(1) *
- ----------------------------------------------------------------------------------------------------------
Common All Executive Officers
and
Directors (23 Persons) 100,258 *
as a Group
- ----------------------------------------------------------------------------------------------------------
</TABLE>
(1) Includes an allocation of shares held by the Trustee of the
Employees' Thrift Plan. Does not include shares of Common
Stock covered by exercisable options. This information is
shown on the stock option table on page 36.
* Stock ownership (including exercisable options) as a percentage
of class is less than 1%.
Part III(c). Contracts and transactions.
None.
Part III(d). Indebtedness.
None.
<PAGE> 42
PAGE 41
Part III(e). Participation in bonus and profit sharing arrangement.
See Item 6 Part III(a) above.
Part III(f). Directors and officers rights to indemnity.
Provisions for indemnification of directors and officers are included
in the Certificate of Incorporation or By-Laws in accordance with
applicable laws.
DIRECTORS AND OFFICERS' LIABILITY INSURANCE - Insurance is purchased
for all of the Registrant's directors and officers, plus the directors
and officers of the subsidiary companies. This insurance also
indemnifies the Registrant and its subsidiary companies against any
amounts paid by them as allowed by Corporate law or By-Laws of the
Registrant to covered directors and officers. The annual cost thereof
to the Registrant and its subsidiary companies was $1,525,026.
NOTE TO ITEM 6
The following was a supplement to the Corporation's Proxy Statement
dated March 15, 1995:
Following the 1993 shareholders' meeting, the Board of Directors
established a committee of outside directors to conduct a nationwide
search for the most qualified executive to succeed me [Mr. Croom]. As
a result of its extensive recruiting efforts, the search committee
recommended to the Board at its March 15th meeting that Mr. Oliver G.
Richard, III, be elected to the Board and the offices of Chairman,
Chief Executive Officer, and President of the Corporation. The Board
accepted that recommendation and elected Mr. Richard to those
positions effective as of the close of business on April 28, 1995.
Mr. Richard was assigned to the class of directors standing for
election in 1996. I [Mr. Croom] wholeheartedly support Mr. Richard's
selection, which has also been enthusiastically endorsed by the
Official Committee of Equity Security Holders in Columbia's bankruptcy
proceedings. Following Mr. Richard's assumption of his duties, I [Mr.
Croom] will retire.
Columbia is fortunate to have an executive as qualified as Mr. Richard
to lead the Corporation in meeting the challenges and securing the
opportunities that lie ahead. Mr. Richard, 42, has a distinguished
record. In 1992 he was elected Chairman of New Jersey Resources
Corporation, where he had been President and Chief Executive Officer
since 1991. He was also President and Chief Executive Officer of New
Jersey Natural Gas Company, New Jersey Resources Corporation's
principal operating company. Previously, he was with Enron
Corporation, where he was President and Chief Executive Officer of
Northern Natural Gas Company from 1989 to 1991 and, from 1987 to 1989,
Senior Vice President and then Executive Vice President of Enron Gas
Pipeline Group. Mr. Richard also served as Vice President and General
Counsel of Tenngasco, a Tenneco Corporation subsidiary, from 1985 to
1987, and as a Commissioner of the Federal Energy Regulatory
Commission from 1982 to 1985.
Mr. Richard serves on the boards of National Westminster Bank USA,
Monmouth College and Monmouth Medical Center. He is a member of the
National Petroleum Council and a board member of the American Gas
Association.
To attract an executive of this caliber, the Corporation has entered
into an employment agreement with Mr. Richard that provides a base
salary of $750,000 per year, subject to such increases as may be
approved by the Board. Mr. Richard does not presently own any shares
of the Corporation's Common Stock. The agreement provides for a grant
of 10,000 shares of the Corporation's Common Stock upon Mr. Richard's
initiation of employment with the Corporation, and 5,000 shares per
year on December 31 of each of the years 1995, 1996, and 1997, if he
is employed by the Corporation on those dates. In addition, subject
to the receipt of necessary approvals, on the thirtieth day after the
Corporation is discharged from bankruptcy, Mr. Richard will receive a
grant of options to purchase, at the then prevailing market price,
<PAGE> 43
PAGE 42
100,000 shares of the Corporation's Common Stock. If the options
cannot be issued as of the thirtieth day following the Corporation's
discharge from bankruptcy but are issued later, Mr. Richard will
receive a cash payment equal to the excess, if any, of the exercise
price over the fair market value of the shares on the thirtieth day
following discharge from bankruptcy.
Under the terms of the employment agreement, the Corporation will
compensate Mr. Richard for certain items that he will forfeit as a
result of his terminating employment with New Jersey Resources
Corporation. This compensation is not expected to exceed $100,000.
Besides being eligible to participate in all incentive compensation
plans and employee benefit programs provided to other senior
executives of the Corporation, Mr. Richard may receive, upon
retirement, supplemental pension payments to make up the difference,
if any, between the Corporation's pension benefits and those Mr.
Richard would have received from his present employer.
The employment agreement further provides for severance benefits to be
paid to Mr. Richard in the event his employment is terminated without
cause. The severance benefits would include payment of Mr. Richard's
annual base salary, incentive compensation and fringe benefits for a
period of 24 months. If his employment is terminated before the first
anniversary of the signing of the agreement, Mr. Richard would receive
his annual base salary, incentive compensation, and fringe benefits
for the remainder of the first year, in addition to the 24-month
salary, incentive compensation and fringe benefits. If Mr. Richard's
employment is terminated due to a change in control of the Corporation
(as defined in the agreement), the period of severance benefits is
extended from 24 to 36 months, but the amount that may be paid to Mr.
Richard, which would constitute "parachute payments" under the
Internal Revenue Code, will be limited to the extent necessary to
avoid the imposition of an excise tax under the Internal Revenue Code.
<PAGE> 44
PAGE 43
ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS
Part I. Expenditures for any political party, candidate for public office or
holder of such office, or any committee or agent therefor.
None.
Part II. Expenditures for any citizens group or public relations counsel.
Calendar Year 1994
------------------
<TABLE>
<CAPTION>
Name of Company and Name
or Number of Recipients
or Beneficiaries Purpose Accounts Charged Amount
- ---------------------------------------- ------- ---------------- -------
($)
<S> <C> <C> <C>
CGD
1 Recipient A Admin & General 8,341
CKY
20 Recipients B Admin & General 10,242
CMD
6 Recipients B Admin & General 2,205
COH
Ohio Chamber of Commerce B Admin & General 12,120
95 Recipients B Admin & General 43,891
CPA
54 Recipients B Admin & General 33,078
COS
28 Recipients B Admin & General 14,820
TCO
Apco Associates, Inc. A Admin & General 14,055
10 Recipients A Admin & General 17,908
CGT
1 Recipient A Admin & General 150
CS
The Dilenschneider Group, Inc. A Admin & General 119,813
CPI
10 Recipients A Admin & General 2,550
</TABLE>
A - Information and Education
B - Economic Development
<PAGE> 45
PAGE 44
ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS
Part I. Intercompany Contracts.
<TABLE>
<CAPTION>
Calendar Year 1994
------------------
In Effect
Serving Receiving Date of On Dec. 31
Company Company Transaction Compensation* Contract (Yes or No)
- ------- --------- --------------------------- ------------- -------- -----------
<S> <C> <C> <C> <C> <C>
TCO CLG Pipeline operation, $294,265 02/16/77 Yes
maintenance and relocation
CNR TCO Operation and maintenance $343,593 12/22/87 Yes
of gathering properties
and accounting, legal,
lease and land rights,
geological, geophysical
and well drilling services
TCO CNR Miscellaneous administra- $649,344 12/22/87 Yes
tion and field services (same con-
and the use of certain tract as
equipment and facilities above)
CES CLG Marketing of Peaking
Service $179,717 03/25/93 Yes
COH CS Printing Services $157,241 11/22/93 Yes
</TABLE>
* All services are rendered at cost.
Part II. System contracts to purchase goods or services from
any affiliate (other than a System company) or a
company in which any officer or director is a
partner or owns 5% or more of any class of equity
securities.
None
<PAGE> 46
PAGE 45
Part III. System contracts with others on a continuing basis
for management, supervisory, or financial advisory
review.
(a) Due to the Chapter 11 Filing, the Registrant and TCO
have contracted with various firms to provide
services for all parties involved in the bankruptcy
proceedings.
The table below details the relevant firms contracted:
<TABLE>
<CAPTION>
Calendar Year 1994
------------------
Date of
Name Scope of Services Compensation Court Approval
- ----------------------- ------------------------- ------------ --------------
<S> <C> <C> <C>
Barr, Beatty, & Devlin Financial Advisor and $ 767,000 12/18/91
Investment Banker to the
Official Committee of
Unsecured Creditors of CG
Shearson Lehman Brothers Financial Advisor and $ 970,000 1/29/92
Investment Banker to the
Official Committee of
Unsecured Creditors to TCO.
Salomon Brothers, Inc. Financial Advisor and $ 1,831,000 10/22/91
Investment Banker to CG
and TCO.
Smith Barney, Harris Financial Advisor and $ 932,000 1/05/92
Upham & Co. Investment Banker to the
Official Equity Committee
of CG.
</TABLE>
(b) The Registrant's distribution companies contracted
with the Dilenschneider Group, Inc. to provide
professional communications consultant services.
<TABLE>
<CAPTION>
Name Scope of Services Compensation
- ----------------------- ------------------------- ------------
<S> <C> <C>
The Dilenschneider Communication Consultant $ 67,739
Group, Inc. to COH
The Dilenschneider Communication Consultant $ 23,223
Group, Inc. to CPA
The Dilenschneider Communication Consultant $ 7,803
Group, Inc. to CKY
The Dilenschneider Communication Consultant $ 2,030
Group, Inc. to CMD
The Dilenschneider Communication Consultant $ 8,956
Group, Inc. to COS
Drake, Beam, Training Consultant $ 15,010
& Morin, Inc. to COH
</TABLE>
<PAGE> 47
PAGE 46
ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES
None.
ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS
<TABLE>
<CAPTION>
Financial Statements included in Form U5S:
<S> <C>
CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 1994
The Columbia Gas System Inc, and Subsidiaries ........... F-1
Columbia Gas Transmission Corporation and Subsidiary .... F-1A
Tristar Ventures Corporation and Subsidiaries ........... F-1B
Tristar Capital Corporation and Subsidiary .............. F-1C
Columbia LNG Corporation and Subsidiary ................. F-1D
SUMMARY OF CONSOLIDATING BALANCE SHEET ENTRIES AS OF
DECEMBER 31, 1994
The Columbia Gas System Inc, and Subsidiaries ........... F-2
Columbia Gas Transmission Corporation and Subsidiary .... F-2A
Tristar Ventures Corporation and Subsidiaries ........... F-2B
Tristar Capital Corporation and Subsidiary .............. F-2C
Columbia LNG Corporation and Subsidiary ................. F-2D
CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED
DECEMBER 31, 1994
The Columbia Gas System Inc, and Subsidiaries ........... F-3
Columbia Gas Transmission Corporation and Subsidiary .... F-3A
Tristar Ventures Corporation and Subsidiaries ........... F-3B
Tristar Capital Corporation and Subsidiary .............. F-3C
SUMMARY OF CONSOLIDATING STATEMENT OF INCOME ENTRIES FOR
THE YEAR ENDED DECEMBER 31, 1994
The Columbia Gas System Inc, and Subsidiaries ........... F-4
Columbia Gas Transmission Corporation and Subsidiary .... F-4A
Tristar Ventures Corporation and Subsidiaries ........... F-4B
Tristar Capital Corporation and Subsidiary .............. F-4C
CONSOLIDATING STATEMENT OF COMMON STOCK EQUITY FOR THE
YEAR ENDED DECEMBER 31, 1994
The Columbia Gas System Inc, and Subsidiaries ........... F-5
Columbia Gas Transmission Corporation and Subsidiary .... F-5A
Tristar Ventures Corporation and Subsidiaries ........... F-5B
Tristar Capital Corporation and Subsidiary .............. F-5C
Columbia LNG Corporation and Subsidiary ................. F-5D
CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1994
The Columbia Gas System Inc, and Subsidiaries ........... F-6
Columbia Gas Transmission Corporation and Subsidiary .... F-6A
Tristar Ventures Corporation and Subsidiaries ........... F-6B
Tristar Capital Corporation and Subsidiary .............. F-6C
</TABLE>
<PAGE> 48
PAGE 47
Item 10. Continued
Exhibits filed as a part of this Report:
A - SEC Act of 1934 Reports incorporated by reference
B - Index to Corporate Organization & By-Laws Exhibits in the
Report filed herewith and/or filed under cover of Form SE
C - Indentures or Contracts incorporated by reference
D - Tax Allocation Agreement for 1994 filed herewith
E - Other Documents Prescribed by Rule or Order
F - Report of Independent Public Accountants filed herewith
G - Financial Data Tables
H - Organizational Chart of Exempt Wholesale Generators or
Foreign Utility Holding Companies
I - Audited Financial Statements and Analytical Reviews and
Conclusions Regarding Exempt Wholesale Generators or
Foreign Utility Holding Companies
<PAGE> 49
PAGE 46
F-1 (1 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 F-1 F-1 F-1
Page 2 Page 3 Page 4 Page 5
----------- ---------- ----------- ----------
<S> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... 4,618,825 1,957,441 108,122 -
Accumulated depreciation and depletion ............ (2,434,498) (707,265) (41,169) -
----------- ---------- ----------- ----------
Net Gas Utility and Other Plant ................... 2,184,327 1,250,176 66,953 -
Oil and gas producing properties, full cost method. 1,261,952 - - -
Accumulated depletion ............................. (827,795) - - -
----------- ---------- ----------- ----------
Net Oil and Gas Producing Properties .............. 434,157 - - -
Net Property, Plant, and Equipment .................. 2,618,484 1,250,176 66,953 -
----------- ---------- ----------- ----------
Investments and Other Assets
Accounts receivable - noncurrent .................. 202,651 - 25,226 -
Unconsolidated affiliates ......................... 34,728 - 1,236 44,682
Other ............................................. 18,529 - - -
----------- ---------- ----------- ----------
Total Investments and Other Assets .................. 255,908 - 26,462 44,682
----------- ---------- ----------- ----------
Investments in Subsidiaries
Capital stock ..................................... - - 1,297,488 -
Equity in undistributed earnings of
subsidiaries ..................................... - - (489,781) -
Notes receivable .................................. - - 790,632 -
Other investments.................................. - - 437,833 -
Other receivables - TCO............................ - - 1,605,720 -
----------- ---------- ----------- ----------
Total Investments in Subsidiaries ................... - - 3,641,892 -
----------- ---------- ----------- ----------
Current Assets
Cash and temporary cash investments ............... 1,255,980 6,028 219,286 515
Accounts receivable, net
Customers ....................................... 203,732 213,890 7,296 19
Intercompany .................................... 88,349 49,839 171,870 10,743
Other ........................................... 123,254 12,808 16,269 1,382
Gas inventory ..................................... 16,803 213,457 - -
Other inventories, at average cost ................ 27,455 11,533 3,018 -
Prepayments ....................................... 34,926 98,620 641 55
Other ............................................. 17,947 9,256 35,480 68
----------- ---------- ----------- ----------
Total Current Assets ................................ 1,768,446 615,431 453,860 12,782
----------- ---------- ----------- ----------
Deferred Charges .................................... 312,647 253,504 25,697 2,772
----------- ---------- ----------- ----------
TOTAL ASSETS ........................................ 4,955,485 2,119,111 4,214,864 60,236
=========== ========== =========== ==========
</TABLE>
<TABLE>
<CAPTION>
Consoli-
dating Consoli-
Combined Entries dated
----------- ----------- -----------
<S> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... 6,684,388 (46,897) 6,637,491
Accumulated depreciation and depletion ............ (3,182,932) 2,149 (3,180,783)
----------- ----------- -----------
Net Gas Utility and Other Plant ................... 3,501,456 (44,748) 3,456,708
Oil and gas producing properties, full cost method. 1,261,952 - 1,261,952
Accumulated depletion ............................. (827,795) 190,148 (637,647)
----------- ----------- -----------
Net Oil and Gas Producing Properties .............. 434,157 190,148 624,305
Net Property, Plant, and Equipment .................. 3,935,613 145,400 4,081,013
----------- ----------- -----------
Investments and Other Assets
Accounts receivable - noncurrent .................. 227,877 (22,721) 205,156
Unconsolidated affiliates ......................... 80,646 - 80,646
Other ............................................. 18,529 1,997 20,526
----------- ----------- -----------
Total Investments and Other Assets .................. 327,052 (20,724) 306,328
----------- ----------- -----------
Investments in Subsidiaries
Capital stock ..................................... 1,297,488 (1,297,488) -
Equity in undistributed earnings of
subsidiaries ..................................... (489,781) 489,781 -
Notes receivable .................................. 790,632 (790,632) -
Other investments.................................. 437,833 (437,833) -
Other receivables - TCO............................ 1,605,720 (1,605,720) -
----------- ----------- -----------
Total Investments in Subsidiaries ................... 3,641,892 (3,641,892) -
----------- ----------- -----------
Current Assets
Cash and temporary cash investments ............... 1,481,809 - 1,481,809
Accounts receivable, net
Customers ....................................... 424,937 520 425,457
Intercompany .................................... 320,801 (320,801) -
Other ........................................... 153,713 (17,829) 135,884
Gas inventory ..................................... 230,260 - 230,260
Other inventories, at average cost ................ 42,006 - 42,006
Prepayments ....................................... 134,242 - 134,242
Other ............................................. 62,751 (27,284) 35,467
----------- ----------- -----------
Total Current Assets ................................ 2,850,519 (365,394) 2,485,125
----------- ----------- -----------
Deferred Charges .................................... 594,620 (302,206) 292,414
----------- ----------- -----------
TOTAL ASSETS ........................................ 11,349,696 (4,184,816) 7,164,880
=========== =========== ===========
</TABLE>
<PAGE> 50
PAGE 47
F-1 (2 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 2
CNR CGD TCO(a) CGT CKY Total
----------- ---------- ----------- ---------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... - 5,168 3,252,632 1,192,449 168,576 4,618,825
Accumulated depreciation and depletion ............ - (2,202) (1,375,492) (994,662) (62,142) (2,434,498)
----------- ---------- ----------- ---------- ----------- -----------
Net Gas Utility and Other Plant ................... - 2,966 1,877,140 197,787 106,434 2,184,327
----------- ---------- ----------- ---------- ----------- -----------
Oil and gas producing properties, full cost method. 510,062 751,890 - - - 1,261,952
Accumulated depletion ............................. (269,243) (558,552) - - - (827,795)
----------- ---------- ----------- ---------- ----------- -----------
Net Oil and Gas Producing Properties .............. 240,819 193,338 - - - 434,157
----------- ---------- ----------- ---------- ----------- -----------
Net Property, Plant, and Equipment .................. 240,819 196,304 1,877,140 197,787 106,434 2,618,484
----------- ---------- ----------- ---------- ----------- -----------
Investments and Other Assets
Accounts receivable - noncurrent .................. - 2,660 199,989 2 - 202,651
Unconsolidated affiliates ......................... - - - 34,728 - 34,728
Other ............................................. - 11,980 6,549 - - 18,529
----------- ---------- ----------- ---------- ----------- -----------
Total Investments and Other Assets .................. - 14,640 206,538 34,730 - 255,908
----------- ---------- ----------- ---------- ----------- -----------
Investments in Subsidiaries
Capital stock ..................................... - - - - - -
Equity in undistributed earnings of
subsidiaries ..................................... - - - - - -
Notes receivable .................................. - - - - - -
Other investments.................................. - - - - - -
Other receivables - TCO............................ - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Total Investments in Subsidiaries ................... - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Current Assets
Cash and temporary cash investments ............... 826 1,141 1,253,482 27 504 1,255,980
Accounts receivable, net
Customers ....................................... 6,589 11,619 164,486 10,019 11,019 203,732
Intercompany .................................... 19,573 7,106 43,846 17,242 582 88,349
Other ........................................... 3,191 10,572 101,787 6,619 1,085 123,254
Gas inventory ..................................... - - - - 16,803 16,803
Other inventories, at average cost ................ 341 686 19,542 5,980 906 27,455
Prepayments ....................................... 3,088 1,535 26,320 2,853 1,130 34,926
Other ............................................. 3,409 808 4,244 8,293 1,193 17,947
----------- ---------- ----------- ---------- ----------- -----------
Total Current Assets ................................ 37,017 33,467 1,613,707 51,033 33,222 1,768,446
----------- ---------- ----------- ---------- ----------- -----------
Deferred Charges .................................... 61,556 1,775 237,778 769 10,769 312,647
----------- ---------- ----------- ---------- ----------- -----------
TOTAL ASSETS ........................................ 339,392 246,186 3,935,163 284,319 150,425 4,955,485
=========== ========== =========== ========== =========== ===========
</TABLE>
(a) TCO includes one subsidiary as noted in Item 1. Consolidating financial
statements of TCO are presented herewith in Item 10 Exhibits F1A through F6A.
<PAGE> 51
PAGE 48
F-1 (3 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 3
COH CMD CPA COS CES Total
----------- ---------- ----------- ---------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... 1,157,457 59,645 483,519 256,418 402 1,957,441
Accumulated depreciation and depletion ............ (471,268) (22,372) (148,079) (65,450) (96) (707,265)
----------- ---------- ----------- ---------- ----------- -----------
Net Gas Utility and Other Plant ................... 686,189 37,273 335,440 190,968 306 1,250,176
Oil and gas producing properties, full cost method. - - - - - -
Accumulated depletion ............................. - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Net Oil and Gas Producing Properties .............. - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Net Property, Plant, and Equipment .................. 686,189 37,273 335,440 190,968 306 1,250,176
----------- ---------- ----------- ---------- ----------- -----------
Investments and Other Assets
Accounts receivable - noncurrent .................. - - - - - -
Unconsolidated affiliates ......................... - - - - - -
Other ............................................. - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Total Investments and Other Assets .................. - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Investments in Subsidiaries
Capital stock ..................................... - - - - - -
Equity in undistributed earnings of
subsidiaries ..................................... - - - - - -
Notes receivable .................................. - - - - - -
Other investments.................................. - - - - - -
Other receivables - TCO............................ - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Total Investments in Subsidiaries ................... - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Current Assets
Cash and temporary cash investments ............... 3,698 89 1,259 436 546 6,028
Accounts receivable, net
Customers ....................................... 118,301 2,790 51,863 18,541 22,395 213,890
Intercompany .................................... 38,312 77 1,131 1,090 9,229 49,839
Other ........................................... 9,492 123 2,419 458 316 12,808
Gas inventory ..................................... 147,829 2,598 52,426 10,604 - 213,457
Other inventories, at average cost ................ 6,605 491 2,442 1,995 - 11,533
Prepayments ....................................... 93,706 1,142 915 794 2,063 98,620
Other ............................................. 68 731 4,438 3,786 233 9,256
----------- ---------- ----------- ---------- ----------- -----------
Total Current Assets ................................ 418,011 8,041 116,893 37,704 34,782 615,431
----------- ---------- ----------- ---------- ----------- -----------
Deferred Charges .................................... 150,451 4,158 85,800 13,133 (38) 253,504
----------- ---------- ----------- ---------- ----------- -----------
TOTAL ASSETS ........................................ 1,254,651 49,472 538,133 241,805 35,050 2,119,111
=========== ========== =========== ========== =========== ===========
</TABLE>
<PAGE> 52
PAGE 49
F-1 (4 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 4
CG CS CGC CPC CPI Total
----------- ---------- ----------- ---------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... - 51,596 12,336 12,463 31,727 108,122
Accumulated depreciation and depletion ............ - (22,150) (214) (4,805) (14,000) (41,169)
----------- ---------- ----------- ---------- ----------- -----------
Net Gas Utility and Other Plant ................... - 29,446 12,122 7,658 17,727 66,953
Oil and gas producing properties, full cost method. - - - - - -
Accumulated depletion ............................. - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Net Oil and Gas Producing Properties .............. - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Net Property, Plant, and Equipment .................. - 29,446 12,122 7,658 17,727 66,953
----------- ---------- ----------- ---------- ----------- -----------
Investments and Other Assets
Accounts receivable - noncurrent .................. 25,226 - - - - 25,226
Unconsolidated affiliates ......................... - - - - 1,236 1,236
Other ............................................. - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Total Investments and Other Assets .................. 25,226 - - - 1,236 26,462
----------- ---------- ----------- ---------- ----------- -----------
Investments in Subsidiaries
Capital stock ..................................... 1,297,488 - - - - 1,297,488
Equity in undistributed earnings of
subsidiaries ..................................... (489,781) - - - - (489,781)
Notes receivable .................................. 790,632 - - - - 790,632
Other investments.................................. 437,833 - - - - 437,833
Other receivables - TCO............................ 1,605,720 - - - - 1,605,720
----------- ---------- ----------- ---------- ----------- -----------
Total Investments in Subsidiaries ................... 3,641,892 - - - - 3,641,892
----------- ---------- ----------- ---------- ----------- -----------
Current Assets
Cash and temporary cash investments ............... 218,456 380 21 39 390 219,286
Accounts receivable, net
Customers ....................................... - - - 1,190 6,106 7,296
Intercompany .................................... 160,946 7,549 2,393 557 425 171,870
Other ........................................... 12,842 630 1,746 243 808 16,269
Gas inventory ..................................... - - - - - -
Other inventories, at average cost ................ - - - 483 2,535 3,018
Prepayments ....................................... 1 479 16 42 103 641
Other ............................................. 31,852 1,678 - 247 1,703 35,480
----------- ---------- ----------- ---------- ----------- -----------
Total Current Assets ................................ 424,097 10,716 4,176 2,801 12,070 453,860
----------- ---------- ----------- ---------- ----------- -----------
Deferred Charges .................................... 2,755 21,114 141 858 829 25,697
----------- ---------- ----------- ---------- ----------- -----------
TOTAL ASSETS ........................................ 4,093,970 61,276 16,439 11,317 31,862 4,214,864
=========== ========== =========== ========== =========== ===========
</TABLE>
<PAGE> 53
PAGE 50
F-1 (5 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 5
TVC(a) TCC(a) CAT CLG (a) Total
----------- ---------- ----------- ---------- -----------
<S> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... - - - - -
Accumulated depreciation and depletion ............ - - - - -
----------- ---------- ----------- ---------- -----------
Net Gas Utility and Other Plant ................... - - - - -
Oil and gas producing properties, full cost method. - - - - -
Accumulated depletion ............................. - - - - -
----------- ---------- ----------- ---------- -----------
Net Oil and Gas Producing Properties .............. - - - - -
----------- ---------- ----------- ---------- -----------
Net Property, Plant, and Equipment .................. - - - - -
----------- ---------- ----------- ---------- -----------
Investments and Other Assets
Accounts receivable - noncurrent .................. - - - - -
Unconsolidated affiliates ......................... 34,199 1,715 - 8,768 44,682
Other ............................................. - - - - -
----------- ---------- ----------- ---------- -----------
Total Investments and Other Assets .................. 34,199 1,715 - 8,768 44,682
----------- ---------- ----------- ---------- -----------
Investments in Subsidiaries
Capital stock ..................................... - - - - -
Equity in undistributed earnings of
subsidiaries ..................................... - - - - -
Notes receivable .................................. - - - - -
Other investments.................................. - - - - -
Other receivables - TCO............................ - - - - -
----------- ---------- ----------- ---------- -----------
Total Investments in Subsidiaries ................... - - - - -
----------- ---------- ----------- ---------- -----------
Current Assets
Cash and temporary cash investments ............... 512 - 1 2 515
Accounts receivable, net
Customers ....................................... - - - 19 19
Intercompany .................................... 6,354 42 653 3,694 10,743
Other ........................................... 722 - 499 161 1,382
Gas inventory ..................................... - - - - -
Other inventories, at average cost ................ - - - - -
Prepayments ....................................... 39 - - 16 55
Other ............................................. 67 - 1 - 68
----------- ---------- ----------- ---------- -----------
Total Current Assets ................................ 7,694 42 1,154 3,892 12,782
----------- ---------- ----------- ---------- -----------
Deferred Charges .................................... 4 59 (1) 2,710 2,772
----------- ---------- ----------- ---------- -----------
TOTAL ASSETS ........................................ 41,897 1,816 1,153 15,370 60,236
=========== ========== =========== ========== ===========
</TABLE>
(a) TVC includes twelve subsidiaries and both TCC and CLG each include one
subsidiary as noted in Item 1. Consolidating financial statements of TVC, TCC
and CLG are presented herewith in Item 10 Exhibits F1B through F6B, F1C through
F6C and F1D through F6D, respectively.
<PAGE> 54
PAGE 51
F-1 (6 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 F-1 F-1 F-1
CAPITALIZATION AND LIABILITIES Page 7 Page 8 Page 9 Page 10
----------- ---------- ----------- ----------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) .... - - 505,633 -
Subsidiaries - common stock ....................... 584,998 223,437 67,375 21,130
Additional paid in capital ........................ 182,682 4,330 614,226 175,735
Retained earnings ................................. (830,753) 411,477 384,004 (145,504)
Unearned employee compensation .................... - - (69,966) -
---------- ---------- ----------- ----------
Total common stock equity ........................... (63,073) 639,244 1,501,272 51,361
Long-term debt ...................................... 320 3,856 90 -
Installment promissory notes payable ................ 219,221 491,757 31,296 -
Other intercompany notes and loans .................. - - - -
---------- ---------- ----------- ----------
Total Capitalization .................................. 156,468 1,134,857 1,532,658 51,361
---------- ---------- ----------- ----------
Current Liabilities
Debtor-in-possession financing ...................... - - - -
Debt obligations .................................... 698 411 96 -
Accounts and drafts payable ......................... 62,482 83,709 6,637 379
Intercompany notes and loans - current maturities.... 21,719 53,399 3,993 -
Intercompany short-term loans ....................... 5,155 94,345 418 -
Intercompany accounts payable ....................... 15,641 73,868 4,781 928
Accrued taxes ....................................... 84,335 109,689 2,109 (2,025)
Estimated rate refunds .............................. 17,511 74,694 - -
Estimated supplier obligations ...................... 69,658 - - 6
Overrecovered gas costs ............................. 380 59,135 - -
Transportation and exchange gas payable ............. 18,619 16,553 - -
Deferred income taxes ............................... 8,181 4,796 43 27
Other ............................................... 194,926 82,030 22,046 2,965
---------- ---------- ----------- ----------
Total Current Liabilities ............................. 499,305 652,629 40,123 2,280
---------- ---------- ----------- ----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ........................................ 1,611,571 - 2,377,324 -
Intercompany ........................................ 2,250,732 - 5,215 -
---------- ---------- ----------- ----------
Total Liabilities Subject To Chapter 11 Proceedings ... 3,862,303 - 2,382,539 -
---------- ---------- ----------- ----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ............................ 154,616 125,522 231,179 5,175
Investment tax credits .............................. 2,175 36,391 0 -
Postretirement benefits other than pensions ......... 80,676 128,348 25,938 1,372
Other ............................................... 199,942 41,364 2,427 48
---------- ---------- ----------- ----------
Total Other Liabilities and Deferred Credits .......... 437,409 331,625 259,544 6,595
---------- ---------- ----------- ----------
TOTAL CAPITALIZATION AND LIABILITIES .................. 4,955,485 2,119,111 4,214,864 60,236
========== ========== =========== ==========
</TABLE>
<TABLE>
<CAPTION>
Consoli-
dating Consoli-
CAPITALIZATION AND LIABILITIES Combined Entries dated
----------- ----------- -----------
<S> <C> <C> <C>
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) .... 505,633 - 505,633
Subsidiaries - common stock ....................... 896,940 (896,940) -
Additional paid in capital ........................ 976,973 (375,145) 601,828
Retained earnings ................................. (180,776) 611,372 430,596
Unearned employee compensation .................... (69,966) - (69,966)
----------- ----------- -----------
Total common stock equity ........................... 2,128,804 (660,713) 1,468,091
Long-term debt ...................................... 4,266 - 4,266
Installment promissory notes payable ................ 742,274 (742,274) -
Other intercompany notes and loans .................. - - -
----------- ----------- -----------
Total Capitalization .................................. 2,875,344 (1,402,987) 1,472,357
----------- ----------- -----------
Current Liabilities
Debtor-in-possession financing ...................... - - -
Debt obligations .................................... 1,205 - 1,205
Accounts and drafts payable ......................... 153,207 - 153,207
Intercompany notes and loans - current maturities.... 79,111 (79,111) -
Intercompany short-term loans ....................... 99,918 (99,918) -
Intercompany accounts payable ....................... 95,218 (95,218) -
Accrued taxes ....................................... 194,108 (18,965) 175,143
Estimated rate refunds .............................. 92,205 - 92,205
Estimated supplier obligations ...................... 69,664 - 69,664
Overrecovered gas costs ............................. 59,515 - 59,515
Transportation and exchange gas payable ............. 35,172 (86) 35,086
Deferred income taxes ............................... 13,047 (13,047) -
Other ............................................... 301,967 (28,158) 273,809
----------- ----------- -----------
Total Current Liabilities ............................. 1,194,337 (334,503) 859,834
----------- ----------- -----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ........................................ 3,988,895 - 3,988,895
Intercompany ........................................ 2,255,947 (2,255,947) -
----------- ----------- -----------
Total Liabilities Subject To Chapter 11 Proceedings ... 6,244,842 (2,255,947) 3,988,895
----------- ----------- -----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ............................ 516,492 (172,430) 344,062
Investment tax credits .............................. 38,566 - 38,566
Postretirement benefits other than pensions ......... 236,334 - 236,334
Other ............................................... 243,781 (18,949) 224,832
----------- ----------- -----------
Total Other Liabilities and Deferred Credits .......... 1,035,173 (191,379) 843,794
----------- ----------- -----------
TOTAL CAPITALIZATION AND LIABILITIES .................. 11,349,696 (4,184,816) 7,164,880
=========== =========== ===========
</TABLE>
<PAGE> 55
PAGE 52
F-1 (7 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 7
CNR CGD TCO (a) CGT CKY Total
----------- ---------- ----------- ---------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C>
CAPITALIZATION AND LIABILITIES
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) .... - - - - - -
Subsidiaries - common stock ....................... 125,716 141,912 241,784 59,780 15,806 584,998
Additional paid in capital ........................ - 89,550 70,289 22,669 174 182,682
Retained earnings ................................. 49,043 (127,465) (801,132) 14,894 33,907 (830,753)
Unearned employee compensation .................... - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Total common stock equity ........................... 174,759 103,997 (489,059) 97,343 49,887 (63,073)
Long-term debt ...................................... - - - - 320 320
Installment promissory notes payable ................ 42,047 65,173 - 70,165 41,836 219,221
Other intercompany notes and loans .................. - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Total Capitalization .................................. 216,806 169,170 (489,059) 167,508 92,043 156,468
----------- ---------- ----------- ---------- ----------- -----------
Current Liabilities
Debtor-in-possession financing ...................... - - - - - -
Debt obligations .................................... - - 667 - 31 698
Accounts and drafts payable ......................... 4,866 18,397 29,821 3,671 5,727 62,482
Intercompany notes and loans - current maturities.... 4,209 11,693 - 1,752 4,065 21,719
Intercompany short-term loans ....................... - - - 2,674 2,481 5,155
Intercompany accounts payable ....................... 1,524 2,276 3,184 1,127 7,530 15,641
Accrued taxes ....................................... 14,998 (4,643) 61,197 10,867 1,916 84,335
Estimated rate refunds .............................. - - 8,754 3,136 5,621 17,511
Estimated supplier obligations ...................... - - 69,658 - - 69,658
Overrecovered gas costs ............................. - - - - 380 380
Transportation and exchange gas payable ............. - - 11,567 5,314 1,738 18,619
Deferred income taxes ............................... - - 8,181 - - 8,181
Other ............................................... 13,416 13,864 136,922 23,791 6,933 194,926
----------- ---------- ----------- ---------- ----------- -----------
Total Current Liabilities ............................. 39,013 41,587 329,951 52,332 36,422 499,305
----------- ---------- ----------- ---------- ----------- -----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ........................................ - - 1,611,571 - - 1,611,571
Intercompany ........................................ - - 2,250,732 - - 2,250,732
----------- ---------- ----------- ---------- ----------- -----------
Total Liabilities Subject To Chapter 11 Proceedings ... - - 3,862,303 - - 3,862,303
----------- ---------- ----------- ---------- ----------- -----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ............................ 76,980 26,774 - 49,441 1,421 154,616
Investment tax credits .............................. - - - - 2,175 2,175
Postretirement benefits other than pensions ......... 4,870 2,342 58,144 7,229 8,091 80,676
Other ............................................... 1,723 6,313 173,824 7,809 10,273 199,942
----------- ---------- ----------- ---------- ----------- -----------
Total Other Liabilities and Deferred Credits .......... 83,573 35,429 231,968 64,479 21,960 437,409
----------- ---------- ----------- ---------- ----------- -----------
TOTAL CAPITALIZATION AND LIABILITIES .................. 339,392 246,186 3,935,163 284,319 150,425 4,955,485
=========== ========== =========== ========== =========== ===========
</TABLE>
(a) TCO includes one subsidiary as noted in Item 1. Consolidating financial
statements of TCO are presented herewith in Item 10 Exhibits F1A through F6A.
<PAGE> 56
PAGE 53
F-1 (8 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 8
COH CMD CPA COS CES Total
----------- ---------- ----------- ---------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C>
CAPITALIZATION AND LIABILITIES
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) .... - - - - - -
Subsidiaries - common stock ....................... 119,240 7,092 68,628 24,305 4,172 223,437
Additional paid in capital ........................ - - - 2,969 1,361 4,330
Retained earnings ................................. 244,253 9,970 108,656 42,301 6,297 411,477
Unearned employee compensation .................... - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Total common stock equity ........................... 363,493 17,062 177,284 69,575 11,830 639,244
Long-term debt ...................................... 1,418 86 587 1,765 - 3,856
Installment promissory notes payable ................ 261,570 13,998 130,923 85,266 - 491,757
Other intercompany notes and loans .................. - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Total Capitalization .................................. 626,481 31,146 308,794 156,606 11,830 1,134,857
----------- ---------- ----------- ---------- ----------- -----------
Current Liabilities
Debtor-in-possession financing ...................... - - - - - -
Debt obligations .................................... 116 13 37 245 - 411
Accounts and drafts payable ......................... 45,275 1,441 16,167 8,396 12,430 83,709
Intercompany notes and loans - current maturities.... 29,113 1,563 14,512 8,211 - 53,399
Intercompany short-term loans ....................... 81,501 150 10,023 2,671 - 94,345
Intercompany accounts payable ....................... 32,473 2,895 19,384 8,572 10,544 73,868
Accrued taxes ....................................... 97,922 (307) 9,783 1,892 399 109,689
Estimated rate refunds .............................. 57,956 1,185 11,401 4,152 - 74,694
Estimated supplier obligations ...................... - - - - - -
Overrecovered gas costs ............................. 24,686 2,282 23,143 9,024 - 59,135
Transportation and exchange gas payable ............. 10,992 206 3,050 2,305 - 16,553
Deferred income taxes ............................... 4,796 - - - - 4,796
Other ............................................... 48,188 1,665 14,530 15,669 1,978 82,030
----------- ---------- ----------- ---------- ----------- -----------
Total Current Liabilities ............................. 433,018 11,093 122,030 61,137 25,351 652,629
----------- ---------- ----------- ---------- ----------- -----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ........................................ - - - - - -
Intercompany ........................................ - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Total Liabilities Subject To Chapter 11 Proceedings ... - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ............................ 57,646 1,562 55,110 10,213 991 125,522
Investment tax credits .............................. 21,415 1,166 10,543 3,267 - 36,391
Postretirement benefits other than pensions ......... 92,844 2,198 27,326 5,960 20 128,348
Other ............................................... 23,247 2,307 14,330 4,622 (3,142) 41,364
----------- ---------- ----------- ---------- ----------- -----------
Total Other Liabilities and Deferred Credits .......... 195,152 7,233 107,309 24,062 (2,131) 331,625
----------- ---------- ----------- ---------- ----------- -----------
TOTAL CAPITALIZATION AND LIABILITIES .................. 1,254,651 49,472 538,133 241,805 35,050 2,119,111
=========== ========== =========== ========== =========== ===========
</TABLE>
<PAGE> 57
PAGE 54
F-1 (9 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 9
CG CS CGC CPC CPI Total
----------- ---------- ----------- ---------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C>
CAPITALIZATION AND LIABILITIES
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) .... 505,633 - - - - 505,633
Subsidiaries - common stock ....................... - 13,000 48,475 3,900 2,000 67,375
Additional paid in capital ........................ 601,828 - 12,000 - 398 614,226
Retained earnings ................................. 430,596 179 (52,801) 94 5,936 384,004
Unearned employee compensation .................... (69,966) - - - - (69,966)
----------- ---------- ----------- ---------- ----------- -----------
Total common stock equity ........................... 1,468,091 13,179 7,674 3,994 8,334 1,501,272
Long-term debt ...................................... - - - - 90 90
Installment promissory notes payable ................ - 16,121 3,713 2,442 9,020 31,296
Other intercompany notes and loans .................. - - - - - -
----------- ---------- ----------- ---------- ----------- -----------
Total Capitalization .................................. 1,468,091 29,300 11,387 6,436 17,444 1,532,658
----------- ---------- ----------- ---------- ----------- -----------
Current Liabilities
Debtor-in-possession financing ...................... - - - - - -
Debt obligations .................................... - - - - 96 96
Accounts and drafts payable ......................... 1,688 2,230 97 437 2,185 6,637
Intercompany notes and loans - current maturities.... - 2,119 700 434 740 3,993
Intercompany short-term loans ....................... - - - - 418 418
Intercompany accounts payable ....................... 3,121 993 142 163 362 4,781
Accrued taxes ....................................... 190 303 854 180 582 2,109
Estimated rate refunds .............................. - - - - - -
Estimated supplier obligations ...................... - - - - - -
Overrecovered gas costs ............................. - - - - - -
Transportation and exchange gas payable ............. - - - - - -
Deferred income taxes ............................... - - 43 - - 43
Other ............................................... 9,744 8,710 485 427 2,680 22,046
----------- ---------- ----------- ---------- ----------- -----------
Total Current Liabilities ............................. 14,743 14,355 2,321 1,641 7,063 40,123
----------- ---------- ----------- ---------- ----------- -----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ........................................ 2,377,324 - - - - 2,377,324
Intercompany ........................................ 5,215 - - - - 5,215
----------- ---------- ----------- ---------- ----------- -----------
Total Liabilities Subject To Chapter 11 Proceedings ... 2,382,539 - - - - 2,382,539
----------- ---------- ----------- ---------- ----------- -----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ............................ 222,534 2,537 2,393 1,842 1,873 231,179
Investment tax credits .............................. - - - - - -
Postretirement benefits other than pensions ......... 6,030 13,286 237 1,151 5,234 25,938
Other ............................................... 33 1,798 101 247 248 2,427
----------- ---------- ----------- ---------- ----------- -----------
Total Other Liabilities and Deferred Credits .......... 228,597 17,621 2,731 3,240 7,355 259,544
----------- ---------- ----------- ---------- ----------- -----------
TOTAL CAPITALIZATION AND LIABILITIES .................. 4,093,970 61,276 16,439 11,317 31,862 4,214,864
=========== ========== =========== ========== =========== ===========
</TABLE>
<PAGE> 58
PAGE 55
F-1 (10 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 10
TVC (a) TCC (a) CAT CLG (a) Total
----------- ---------- ----------- ---------- -----------
<S> <C> <C> <C> <C> <C>
CAPITALIZATION AND LIABILITIES
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) .... - - - - -
Subsidiaries - common stock ....................... 15,293 2,075 82 3,680 21,130
Additional paid in capital ........................ 42,802 - - 132,933 175,735
Retained earnings ................................. (20,748) (253) (802) (123,701) (145,504)
Unearned employee compensation .................... - - - - -
----------- ---------- ----------- ---------- -----------
Total common stock equity ........................... 37,347 1,822 (720) 12,912 51,361
Long-term debt ...................................... - - - - -
Installment promissory notes payable ................ - - - - -
Other intercompany notes and loans .................. - - - - -
----------- ---------- ----------- ---------- -----------
Total Capitalization .................................. 37,347 1,822 (720) 12,912 51,361
----------- ---------- ----------- ---------- -----------
Current Liabilities
Debtor-in-possession financing ...................... - - - - -
Debt obligations .................................... - - - - -
Accounts and drafts payable ......................... 355 - - 24 379
Intercompany notes and loans - current maturities.... - - - - -
Intercompany short-term loans ....................... - - - - -
Intercompany accounts payable ....................... 8 1 - 919 928
Accrued taxes ....................................... (322) (7) 145 (1,841) (2,025)
Estimated rate refunds .............................. - - - - -
Estimated supplier obligations ...................... - - - 6 6
Overrecovered gas costs ............................. - - - - -
Transportation and exchange gas payable ............. - - - - -
Deferred income taxes ............................... - - - 27 27
Other ............................................... 413 - 1,728 824 2,965
----------- ---------- ----------- ---------- -----------
Total Current Liabilities ............................. 454 (6) 1,873 (41) 2,280
----------- ---------- ----------- ---------- -----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ........................................ - - - - -
Intercompany ........................................ - - - - -
----------- ---------- ----------- ---------- -----------
Total Liabilities Subject To Chapter 11 Proceedings ... - - - - -
----------- ---------- ----------- ---------- -----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ............................ 4,044 - - 1,131 5,175
Investment tax credits .............................. - - - - -
Postretirement benefits other than pensions ......... 52 - - 1,320 1,372
Other ............................................... - - - 48 48
----------- ---------- ----------- ---------- -----------
Total Other Liabilities and Deferred Credits .......... 4,096 - - 2,499 6,595
----------- ---------- ----------- ---------- -----------
TOTAL CAPITALIZATION AND LIABILITIES .................. 41,897 1,816 1,153 15,370 60,236
=========== ========== =========== ========== ===========
</TABLE>
(a) TVC includes twelve subsidiaries and both TCC and CLG each include one
subsidiary as noted in Item 1. Consolidating financial statements of TVC, TCC
and CLG are presented herewith in Item 10 Exhibits F1B through F6B, F1C through
F6C and F1D through F6D, respectively.
<PAGE> 59
PAGE 56
F-1A (1 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia Gas Transmission Corporation and Subsidiary
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating TCO
CTIC TCO Combined Entries Consolidated
---------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... - 3,252,632 3,252,632 - 3,252,632
Accumulated depreciation and depletion ............ - (1,375,492) (1,375,492) - (1,375,492)
---------- ----------- ----------- ----------- -----------
Net Gas Utility and Other Plant ................... - 1,877,140 1,877,140 - 1,877,140
---------- ----------- ----------- ----------- -----------
Oil and gas producing properties, full cost method. - - - - -
Accumulated depletion ............................. - - - - -
---------- ----------- ----------- ----------- -----------
Net Oil and Gas Producing Properties .............. - - - - -
---------- ----------- ----------- ----------- -----------
Net Property, Plant, and Equipment .................. - 1,877,140 1,877,140 - 1,877,140
---------- ----------- ----------- ----------- -----------
Investments and Other Assets
Accounts receivable - noncurrent .................. - 199,989 199,989 - 199,989
Unconsolidated affiliates ......................... - - - - -
Other ............................................. - 6,549 6,549 - 6,549
---------- ----------- ----------- ----------- -----------
Total Investments and Other Assets .................. - 206,538 206,538 - 206,538
---------- ----------- ----------- ----------- -----------
Investments in Subsidiaries
Capital stock ..................................... - - - - -
Equity in undistributed earnings of
subsidiaries ..................................... - 1,321,955 1,321,955 (1,321,955) -
Notes receivable .................................. - - - - -
Other investments.................................. - - - - -
Other receivables - TCO............................ - - - - -
---------- ----------- ----------- ----------- -----------
Total Investments in Subsidiaries ................... - 1,321,955 1,321,955 (1,321,955) -
---------- ----------- ----------- ----------- -----------
Current Assets
Cash and temporary cash investments ............... 1,253,339 143 1,253,482 - 1,253,482
Accounts receivable, net
Customers ....................................... - 164,486 164,486 - 164,486
Intercompany .................................... 51,735 43,846 95,581 (51,735) 43,846
Other ........................................... 16,981 84,806 101,787 - 101,787
Gas inventory ..................................... - - - - -
Other inventories, at average cost ................ - 19,542 19,542 - 19,542
Prepayments ....................................... - 26,320 26,320 - 26,320
Other ............................................. - 4,244 4,244 - 4,244
---------- ----------- ----------- ----------- -----------
Total Current Assets ................................ 1,322,055 343,387 1,665,442 (51,735) 1,613,707
---------- ----------- ----------- ----------- -----------
Deferred Charges .................................... - 237,778 237,778 - 237,778
---------- ----------- ----------- ----------- -----------
TOTAL ASSETS ........................................ 1,322,055 3,986,798 5,308,853 (1,373,690) 3,935,163
========== =========== =========== =========== ===========
</TABLE>
<PAGE> 60
PAGE 57
F-1A (2 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia Gas Transmission Corporation and Subsidiary
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating TCO
CAPITALIZATION AND LIABILITIES CTIC TCO Combined Entries Consolidated
---------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) .... - - - - -
Subsidiaries - common stock ....................... (84,433) 241,784 157,351 84,433 241,784
Additional paid in capital ........................1,337,433 70,289 1,407,722 (1,337,433) 70,289
Retained earnings ................................. 68,955 (801,132) (732,177) (68,955) (801,132)
Unearned employee compensation .................... - - - - -
---------- ----------- ----------- ----------- -----------
Total common stock equity ...........................1,321,955 (489,059) 832,896 (1,321,955) (489,059)
Long-term debt ...................................... - - - - -
Installment promissory notes payable ................ - - - - -
Other intercompany notes and loans .................. - - - - -
---------- ----------- ----------- ----------- -----------
Total Capitalization ..................................1,321,955 (489,059) 832,896 (1,321,955) (489,059)
---------- ----------- ----------- ----------- -----------
Current Liabilities
Debtor-in-possession financing ...................... - - - - -
Debt obligations .................................... - 52,023 52,023 (51,356) 667
Accounts and drafts payable ......................... 37 29,784 29,821 - 29,821
Intercompany notes and loans - current maturities.... - - - - -
Intercompany short-term loans ....................... - - - - -
Intercompany accounts payable ....................... - 3,563 3,563 (379) 3,184
Accrued taxes ....................................... 63 61,134 61,197 - 61,197
Estimated rate refunds .............................. - 8,754 8,754 - 8,754
Estimated supplier obligations ...................... - 69,658 69,658 - 69,658
Transportation and exchange gas payable ............. - 11,567 11,567 - 11,567
Deferred income taxes ............................... - 8,181 8,181 - 8,181
Other ............................................... - 136,922 136,922 - 136,922
---------- ----------- ----------- ----------- -----------
Total Current Liabilities ............................. 100 381,586 381,686 (51,735) 329,951
---------- ----------- ----------- ----------- -----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ........................................ - 1,611,571 1,611,571 - 1,611,571
Intercompany ........................................ - 2,250,732 2,250,732 - 2,250,732
---------- ----------- ----------- ----------- -----------
Total Liabilities Subject To Chapter 11 Proceedings ... - 3,862,303 3,862,303 - 3,862,303
---------- ----------- ----------- ----------- -----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ............................ - - - - -
Investment tax credits .............................. - - - - -
Postretirement benefits other than pensions ......... - 58,144 58,144 - 58,144
Other ............................................... - 173,824 173,824 - 173,824
---------- ----------- ----------- ----------- -----------
Total Other Liabilities and Deferred Credits .......... - 231,968 231,968 - 231,968
---------- ----------- ----------- ----------- -----------
TOTAL CAPITALIZATION AND LIABILITIES ..................1,322,055 3,986,798 5,308,853 (1,373,690) 3,935,163
========== =========== =========== =========== ===========
</TABLE>
<PAGE> 61
PAGE 58
F-1B (1 of 6) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
F-1B F-1B dating TVC
Page 2 Page 3 Combined Entries Consolidated
---------- ---------- ---------- ---------- ------------
<S> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... - - - - -
Accumulated depreciation and depletion ............ - - - - -
---------- ---------- ---------- ---------- ----------
Net Gas Utility and Other Plant ................... - - - - -
---------- ---------- ---------- ---------- ----------
Oil and gas producing properties, full cost method. - - - - -
Accumulated depletion ............................. - - - - -
---------- ---------- ---------- ---------- ----------
Net Oil and Gas Producing Properties .............. - - - - -
---------- ---------- ---------- ---------- ----------
Net Property, Plant, and Equipment .................. - - - - -
---------- ---------- ---------- ---------- ----------
Investments and Other Assets
Accounts receivable - noncurrent .................. - - - - -
Unconsolidated affiliates ......................... 21,534 12,665 34,199 - 34,199
Other ............................................. - - - - -
---------- ---------- ---------- ---------- ----------
Total Investments and Other Assets .................. 21,534 12,665 34,199 - 34,199
---------- ---------- ---------- ---------- ----------
Investments in Subsidiaries
Capital stock ..................................... 17,690 - 17,690 (17,690) -
Equity in undistributed earnings of
subsidiaries ..................................... (791) - (791) 791 -
Notes receivable .................................. 10,533 - 10,533 (10,533) -
Other investments.................................. 5,556 - 5,556 (5,556) -
Other receivables - TCO............................ - - - - -
---------- ---------- ---------- ---------- ----------
Total Investments in Subsidiaries ................... 32,988 - 32,988 (32,988) -
---------- ---------- ---------- ---------- ----------
Current Assets
Cash and temporary cash investments ............... 512 - 512 - 512
Accounts receivable, net
Customers ....................................... - - - - -
Intercompany .................................... 5,268 1,086 6,354 - 6,354
Other ........................................... 706 16 722 - 722
Gas inventory ..................................... - - - - -
Other inventories, at average cost ................ - - - - -
Prepayments ....................................... 39 - 39 - 39
Other ............................................. 63 4 67 - 67
---------- ---------- ---------- ---------- ----------
Total Current Assets ................................ 6,588 1,106 7,694 - 7,694
---------- ---------- ---------- ---------- ----------
Deferred Charges .................................... (2) 6 4 - 4
---------- ---------- ---------- ---------- ----------
TOTAL ASSETS ........................................ 61,108 13,777 74,885 (32,988) 41,897
========== ========== ========== ========== ==========
</TABLE>
<PAGE> 62
PAGE 59
F-1B (2 of 6) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
BGC BLC GGC GLC
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... - - - -
Accumulated depreciation and depletion ............ - - - -
---------- ---------- ---------- ----------
Net Gas Utility and Other Plant ................... - - - -
---------- ---------- ---------- ----------
Oil and gas producing properties, full cost method. - - - -
Accumulated depletion ............................. - - - -
---------- ---------- ---------- ----------
Net Oil and Gas Producing Properties .............. - - - -
---------- ---------- ---------- ----------
Net Property, Plant, and Equipment .................. - - - -
---------- ---------- ---------- ----------
Investments and Other Assets
Accounts receivable - noncurrent .................. - - - -
Unconsolidated affiliates ......................... 2,278 5,314 - -
Other ............................................. - - - -
---------- ---------- ---------- ----------
Total Investments and Other Assets .................. 2,278 5,314 - -
---------- ---------- ---------- ----------
Investments in Subsidiaries
Capital stock ..................................... - - - -
Equity in undistributed earnings of
subsidiaries ..................................... - - - -
Notes receivable .................................. - - - -
Other investments.................................. - - - -
Other receivables - TCO............................ - - - -
---------- ---------- ---------- ----------
Total Investments in Subsidiaries ................... - - - -
---------- ---------- ---------- ----------
Current Assets
Cash and temporary cash investments ............... - - - -
Accounts receivable, net
Customers ....................................... - - - -
Intercompany .................................... 582 1,428 - -
Other ........................................... 8 (5) - 1
Gas inventory ..................................... - - - -
Other inventories, at average cost ................ - - - -
Prepayments ....................................... - - - 25
Other ............................................. 1 1 - 3
---------- ---------- ---------- ----------
Total Current Assets ................................ 591 1,424 - 29
---------- ---------- ---------- ----------
Deferred Charges .................................... - (1) 1 (3)
---------- ---------- ---------- ----------
TOTAL ASSETS ........................................ 2,869 6,737 1 26
========== ========== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
F-1B Page 2
PGC PLC TVC Total
---------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... - - - -
Accumulated depreciation and depletion ............ - - - -
---------- ----------- ----------- -----------
Net Gas Utility and Other Plant ................... - - - -
---------- ----------- ----------- -----------
Oil and gas producing properties, full cost method. - - - -
Accumulated depletion ............................. - - - -
---------- ----------- ----------- -----------
Net Oil and Gas Producing Properties .............. - - - -
---------- ----------- ----------- -----------
Net Property, Plant, and Equipment .................. - - - -
---------- ----------- ----------- -----------
Investments and Other Assets
Accounts receivable - noncurrent .................. - - - -
Unconsolidated affiliates ......................... 4,149 9,682 111 21,534
Other ............................................. - - - -
---------- ----------- ----------- -----------
Total Investments and Other Assets .................. 4,149 9,682 111 21,534
---------- ----------- ----------- -----------
Investments in Subsidiaries
Capital stock ..................................... - - 17,690 17,690
Equity in undistributed earnings of
subsidiaries ..................................... - - (791) (791)
Notes receivable .................................. - - 10,533 10,533
Other investments.................................. - - 5,556 5,556
Other receivables - TCO............................ - - - -
---------- ----------- ----------- -----------
Total Investments in Subsidiaries ................... - - 32,988 32,988
---------- ----------- ----------- -----------
Current Assets
Cash and temporary cash investments ............... - 1 511 512
Accounts receivable, net
Customers ....................................... - - - -
Intercompany .................................... - - 3,258 5,268
Other ........................................... 1 1 700 706
Gas inventory ..................................... - - - -
Other inventories, at average cost ................ - - - -
Prepayments ....................................... - - 14 39
Other ............................................. - 1 57 63
---------- ----------- ----------- -----------
Total Current Assets ................................ 1 3 4,540 6,588
---------- ----------- ----------- -----------
Deferred Charges .................................... 1 - - (2)
---------- ----------- ----------- -----------
TOTAL ASSETS ........................................ 4,151 9,685 37,639 61,108
========== =========== =========== ===========
</TABLE>
<PAGE> 63
PAGE 60
F-1B (3 of 6) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1B Page 3
VGC VLC RL FC TVC9 TVC10 Total
---------- ---------- ---------- ---------- ---------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... - - - - - - -
Accumulated depreciation and depletion ............ - - - - - - -
---------- ---------- ---------- ---------- ---------- ----------- -----------
Net Gas Utility and Other Plant ................... - - - - - - -
---------- ---------- ---------- ---------- ---------- ----------- -----------
Oil and gas producing properties, full cost method. - - - - - - -
Accumulated depletion ............................. - - - - - - -
---------- ---------- ---------- ---------- ---------- ----------- -----------
Net Oil and Gas Producing Properties .............. - - - - - - -
---------- ---------- ---------- ---------- ---------- ----------- -----------
Net Property, Plant, and Equipment .................. - - - - - - -
---------- ---------- ---------- ---------- ---------- ----------- -----------
Investments and Other Assets
Accounts receivable - noncurrent .................. - - - - - - -
Unconsolidated affiliates ......................... 695 6,253 5,717 - - - 12,665
Gas supply prepayments ............................ - - - - - - -
Other ............................................. - - - - - - -
---------- ---------- ---------- ---------- ---------- ----------- -----------
Total Investments and Other Assets .................. 695 6,253 5,717 - - - 12,665
---------- ---------- ---------- ---------- ---------- ----------- -----------
Investments in Subsidiaries
Capital stock ..................................... - - - - - - -
Equity in undistributed earnings of
subsidiaries ..................................... - - - - - - -
Notes receivable .................................. - - - - - - -
Other investments.................................. - - - - - - -
Other receivables - TCO............................ - - - - - - -
---------- ---------- ---------- ---------- ---------- ----------- -----------
Total Investments in Subsidiaries ................... - - - - - - -
---------- ---------- ---------- ---------- ---------- ----------- -----------
Current Assets
Cash and temporary cash investments ............... - - - - - - -
Accounts receivable, net
Customers ....................................... - - - - - - -
Intercompany .................................... 62 500 524 - - - 1,086
Other ........................................... - 5 11 - - - 16
Gas inventory ..................................... - - - - - - -
Other inventories, at average cost ................ - - - - - - -
Prepayments ....................................... - - - - - - -
Other ............................................. - 1 3 - - - 4
---------- ---------- ---------- ---------- ---------- ----------- -----------
Total Current Assets ................................ 62 506 538 - - - 1,106
---------- ---------- ---------- ---------- ---------- ----------- -----------
Deferred Charges .................................... 2 3 1 - - - 6
---------- ---------- ---------- ---------- ---------- ----------- -----------
TOTAL ASSETS ........................................ 759 6,762 6,256 - - - 13,777
========== ========== ========== ========== ========== =========== ===========
</TABLE>
<PAGE> 64
PAGE 61
F-1B (4 of 6) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
F-1B F-1B dating TVC
CAPITALIZATION AND LIABILITIES Page 5 Page 6 Combined Entries Consolidated
---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) .. - - - - -
Subsidiaries - common stock ..................... 15,460 203 15,663 (370) 15,293
Additional paid in capital ...................... 52,296 7,826 60,122 (17,320) 42,802
Retained earnings ............................... (20,799) (740) (21,539) 791 (20,748)
Unearned employee compensation .................. - - - - -
---------- ---------- ---------- ---------- ----------
Total common stock equity ......................... 46,957 7,289 54,246 (16,899) 37,347
Long-term debt .................................... - - - - -
Installment promissory notes payable .............. - - - - -
Other intercompany notes and loans ................ - - - - -
---------- ---------- ---------- ---------- ----------
Total Capitalization ................................ 46,957 7,289 54,246 (16,899) 37,347
---------- ---------- ---------- ---------- ----------
Current Liabilities
Debtor-in-possession financing .................... - - - - -
Debt obligations .................................. - - - - -
Accounts and drafts payable ....................... 355 - 355 - 355
Intercompany notes and loans - current maturities.. - - - - -
Intercompany short-term loans ..................... 13,384 3,454 16,838 (16,838) -
Intercompany accounts payable ..................... 8 - 8 - 8
Accrued taxes ..................................... 184 (1,255) (1,071) 749 (322)
Estimated rate refunds ............................ - - - - -
Estimated supplier obligations .................... - - - - -
Transportation and exchange gas payable ........... - - - - -
Deferred income taxes ............................. - - - - -
Other ............................................. 353 60 413 - 413
---------- ---------- ---------- ---------- ----------
Total Current Liabilities ........................... 14,284 2,259 16,543 (16,089) 454
---------- ---------- ---------- ---------- ----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ...................................... - - - - -
Intercompany ...................................... - - - - -
---------- ---------- ---------- ---------- ----------
Total Liabilities Subject To Chapter 11 Proceedings - - - - -
---------- ---------- ---------- ---------- ----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent .......................... (185) 4,229 4,044 - 4,044
Investment tax credits ............................ - - - - -
Postretirement benefits other than pensions ....... 52 - 52 - 52
Other ............................................. - - - - 0
---------- ---------- ---------- ---------- ----------
Total Other Liabilities and Deferred Credits ........ (133) 4,229 4,096 - 4,096
---------- ---------- ---------- ---------- ----------
TOTAL CAPITALIZATION AND LIABILITIES ................ 61,108 13,777 74,885 (32,988) 41,897
========== ========== ========== ========== ==========
</TABLE>
<PAGE> 65
PAGE 62
F-1B (5 of 6) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CAPITALIZATION AND LIABILITIES BGC BLC GGC GLC
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) .. - - - -
Subsidiaries - common stock ..................... 3 3 10 75
Additional paid in capital ...................... 2,847 6,647 - -
Retained earnings ............................... (50) (153) (107) (4,930)
Unearned employee compensation .................. - - - -
---------- ---------- ---------- ----------
Total common stock equity ......................... 2,800 6,497 (97) (4,855)
Long-term debt .................................... - - - -
Installment promissory notes payable .............. - - - -
Other intercompany notes and loans ................ - - - -
---------- ---------- ---------- ----------
Total Capitalization ................................ 2,800 6,497 (97) (4,855)
---------- ---------- ---------- ----------
Current Liabilities
Debtor-in-possession financing .................... - - - -
Debt obligations .................................. - - - -
Accounts and drafts payable ....................... - - 3 168
Intercompany notes and loans - current maturities.. - - - -
Intercompany short-term loans ..................... - - 142 6,971
Intercompany accounts payable ..................... - - - -
Accrued taxes ..................................... (13) (132) (334) 111
Estimated rate refunds ............................ - - - -
Estimated supplier obligations .................... - - - -
Transportation and exchange gas payable ........... - - - -
Deferred income taxes ............................. - - - -
Other ............................................. 2 4 0 7
---------- ---------- ---------- ----------
Total Current Liabilities ........................... (11) (128) (189) 7,257
---------- ---------- ---------- ----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ...................................... - - - -
Intercompany ...................................... - - - -
---------- ---------- ---------- ----------
Total Liabilities Subject To Chapter 11 Proceedings - - - -
---------- ---------- ---------- ----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent .......................... 80 368 287 (2,376)
Investment tax credits ............................ - - - -
Postretirement benefits other than pensions ....... - - - -
Other ............................................. - - - -
---------- ---------- ---------- ----------
Total Other Liabilities and Deferred Credits ........ 80 368 287 (2,376)
---------- ---------- ---------- ----------
TOTAL CAPITALIZATION AND LIABILITIES ................ 2,869 6,737 1 26
========== ========== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
F-1B Page 5
CAPITALIZATION AND LIABILITIES PGC PLC TVC Total
---------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) .. - - - -
Subsidiaries - common stock ..................... 75 1 15,293 15,460
Additional paid in capital ...................... - - 42,802 52,296
Retained earnings ............................... 1,497 3,692 (20,748) (20,799)
Unearned employee compensation .................. - - - -
---------- ----------- ----------- -----------
Total common stock equity ......................... 1,572 3,693 37,347 46,957
Long-term debt .................................... - - - -
Installment promissory notes payable .............. - - - -
Other intercompany notes and loans ................ - - - -
---------- ----------- ----------- -----------
Total Capitalization ................................ 1,572 3,693 37,347 46,957
---------- ----------- ----------- -----------
Current Liabilities
Debtor-in-possession financing .................... - - - -
Debt obligations .................................. - - - -
Accounts and drafts payable ....................... - - 184 355
Intercompany notes and loans - current maturities.. - - - -
Intercompany short-term loans ..................... 1,883 4,388 - 13,384
Intercompany accounts payable ..................... - - 8 8
Accrued taxes ..................................... 387 911 (746) 184
Estimated rate refunds ............................ - - - -
Estimated supplier obligations .................... - - - -
Transportation and exchange gas payable ........... - - - -
Deferred income taxes ............................. - - - -
Other ............................................. 1 3 336 353
---------- ----------- ----------- -----------
Total Current Liabilities ........................... 2,271 5,302 (218) 14,284
---------- ----------- ----------- -----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ...................................... - - - -
Intercompany ...................................... - - - -
---------- ----------- ----------- -----------
Total Liabilities Subject To Chapter 11 Proceedings - - - -
---------- ----------- ----------- -----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent .......................... 308 690 458 (185)
Investment tax credits ............................ - - - -
Postretirement benefits other than pensions ....... - - 52 52
Other ............................................. - - - -
---------- ----------- ----------- -----------
Total Other Liabilities and Deferred Credits ........ 308 690 510 (133)
---------- ----------- ----------- -----------
TOTAL CAPITALIZATION AND LIABILITIES ................ 4,151 9,685 37,639 61,108
========== =========== =========== ===========
</TABLE>
<PAGE> 66
PAGE 63
F-1B (6 of 6) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1B Page 6
CAPITALIZATION AND LIABILITIES VGC VLC RL FC TVC9 TVC10 Total
---------- ---------- ---------- ---------- ---------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) .. - - - - - - -
Subsidiaries - common stock ..................... 68 60 - 75 - - 203
Additional paid in capital ...................... 825 7,001 - - - - 7,826
Retained earnings ............................... (132) (283) 637 (962) - - (740)
Unearned employee compensation .................. - - - - - - -
---------- ---------- ---------- ---------- ---------- ----------- -----------
Total common stock equity ......................... 761 6,778 637 (887) - - 7,289
Long-term debt .................................... - - - - - - -
Installment promissory notes payable .............. - - - - - - -
Other intercompany notes and loans ................ - - - - - - -
---------- ---------- ---------- ---------- ---------- ----------- -----------
Total Capitalization ................................ 761 6,778 637 (887) - - 7,289
---------- ---------- ---------- ---------- ---------- ----------- -----------
Current Liabilities
Debtor-in-possession financing .................... - - - - - - -
Debt obligations .................................. - - - - - - -
Accounts and drafts payable ....................... - - - - - - -
Intercompany notes and loans - current maturities.. - - - - - - -
Intercompany short-term loans ..................... - - 2,546 908 - - 3,454
Intercompany accounts payable ..................... - - - - - - -
Accrued taxes ..................................... (21) (178) (1,035) (21) - - (1,255)
Estimated rate refunds ............................ - - - - - - -
Estimated supplier obligations .................... - - - - - - -
Transportation and exchange gas payable ........... - - - - - - -
Deferred income taxes ............................. - - - - - - -
Other ............................................. 1 3 56 - - - 60
---------- ---------- ---------- ---------- ---------- ----------- -----------
Total Current Liabilities ........................... (20) (175) 1,567 887 - - 2,259
---------- ---------- ---------- ---------- ---------- ----------- -----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ...................................... - - - - - - -
Intercompany ...................................... - - - - - - -
---------- ---------- ---------- ---------- ---------- ----------- -----------
Total Liabilities Subject To Chapter 11 Proceedings - - - - - - -
---------- ---------- ---------- ---------- ---------- ----------- -----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent .......................... 18 159 4,052 - - - 4,229
Investment tax credits ............................ - - - - - - -
Postretirement benefits other than pensions ....... - - - - - - -
Other ............................................. - - - - - - -
---------- ---------- ---------- ---------- ---------- ----------- -----------
Total Other Liabilities and Deferred Credits ........ 18 159 4,052 - - - 4,229
---------- ---------- ---------- ---------- ---------- ----------- -----------
TOTAL CAPITALIZATION AND LIABILITIES ................ 759 6,762 6,256 - - - 13,777
========== ========== ========== ========== ========== =========== ===========
</TABLE>
<PAGE> 67
PAGE 64
F-1C (1 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating TCC
TGT TCC Combined Entries Consolidated
----------- ----------- ----------- ----------- ------------
<S> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... - - - - -
Accumulated depreciation and depletion ............ - - - - -
----------- ----------- ----------- ----------- ------------
Net Gas Utility and Other Plant ................... - - - - -
----------- ----------- ----------- ----------- ------------
Oil and gas producing properties, full cost method. - - - - -
Accumulated depletion ............................. - - - - -
----------- ----------- ----------- ----------- ------------
Net Oil and Gas Producing Properties .............. - - - - -
----------- ----------- ----------- ----------- ------------
Net Property, Plant, and Equipment .................. - - - - -
----------- ----------- ----------- ----------- ------------
Investments and Other Assets
Accounts receivable - noncurrent .................. - - - - -
Unconsolidated affiliates ......................... 1,715 - 1,715 - 1,715
Other ............................................. - - - - -
----------- ----------- ----------- ----------- ------------
Total Investments and Other Assets .................. 1,715 - 1,715 - 1,715
----------- ----------- ----------- ----------- ------------
Investments in Subsidiaries
Capital stock ..................................... - 2,000 2,000 (2,000) -
Equity in undistributed earnings of
subsidiaries ..................................... - (240) (240) 240 -
Notes receivable .................................. - 21 21 (21) -
Other investments.................................. - - - - -
Other receivables - TCO............................ - - - - -
----------- ----------- ----------- ----------- ------------
Total Investments in Subsidiaries ................... - 1,781 1,781 (1,781) -
----------- ----------- ----------- ----------- ------------
Current Assets
Cash and temporary cash investments ............... - - - - -
Accounts receivable, net
Customers ....................................... - - - - -
Intercompany .................................... - 42 42 0 42
Other ........................................... - - - - -
Gas inventory ..................................... - - - - -
Other inventories, at average cost ................ - - - - -
Prepayments ....................................... - - - - -
Other ............................................. - - - - -
----------- ----------- ----------- ----------- ------------
Total Current Assets ................................ - 42 42 0 42
----------- ----------- ----------- ----------- ------------
Deferred Charges .................................... - - - 59 59
----------- ----------- ----------- ----------- ------------
TOTAL ASSETS ........................................ 1,715 1,823 3,538 (1,722) 1,816
=========== =========== =========== =========== ============
</TABLE>
<PAGE> 68
PAGE 65
F-1C (2 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating TCC
TGT TCC Combined Entries Consolidated
----------- ----------- ----------- ----------- ------------
<S> <C> <C> <C> <C> <C>
CAPITALIZATION AND LIABILITIES
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) ....... - - - - -
Subsidiaries - common stock .......................... 2,000 2,075 4,075 (2,000) 2,075
Additional paid in capital ........................... - - - - -
Retained earnings .................................... (240) (253) (493) 240 (253)
Unearned employee compensation ....................... - - - - -
----------- ----------- ----------- ----------- ------------
Total common stock equity .............................. 1,760 1,822 3,582 (1,760) 1,822
Long-term debt ......................................... - - - - -
Installment promissory notes payable ................... - - - - -
Other intercompany notes and loans ..................... 17 - 17 (17) -
----------- ----------- ----------- ----------- ------------
Total Capitalization ..................................... 1,777 1,822 3,599 (1,777) 1,822
----------- ----------- ----------- ----------- ------------
Current Liabilities
Debtor-in-possession financing ......................... - - - - -
Debt obligations ....................................... - - - - -
Accounts and drafts payable ............................ - - - - -
Intercompany notes and loans - current maturities....... - - - - -
Intercompany short-term loans .......................... - - - - -
Intercompany accounts payable .......................... 4 1 5 (4) 1
Accrued taxes .......................................... (7) - (7) - (7)
Estimated rate refunds ................................. - - - - -
Estimated supplier obligations ......................... - - - - -
Transportation and exchange gas payable ................ - - - - -
Deferred income taxes .................................. - - - - -
Other .................................................. - - - - -
----------- ----------- ----------- ----------- ------------
Total Current Liabilities ................................ (3) 1 (2) (4) (6)
----------- ----------- ----------- ----------- ------------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ........................................... - - - - -
Intercompany ........................................... - - - - -
----------- ----------- ----------- ----------- ------------
Total Liabilities Subject To Chapter 11 Proceedings ...... - - - - -
----------- ----------- ----------- ----------- ------------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ............................... (59) - (59) 59 -
Investment tax credits ................................. - - - - -
Postretirement benefits other than pensions ............ - - - - -
Other .................................................. - - - - -
----------- ----------- ----------- ----------- ------------
Total Other Liabilities and Deferred Credits ............. (59) - (59) 59 -
----------- ----------- ----------- ----------- ------------
TOTAL CAPITALIZATION AND LIABILITIES ..................... 1,715 1,823 3,538 (1,722) 1,816
=========== =========== =========== =========== ============
</TABLE>
<PAGE> 69
PAGE 66
F-1D (1 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CLG
CLNG CLG Combined Entries Consolidated
----------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... - - - - -
Accumulated depreciation and depletion ............ - - - - -
----------- ----------- ----------- ----------- -----------
Net Gas Utility and Other Plant ................... - - - - -
----------- ----------- ----------- ----------- -----------
Oil and gas producing properties, full cost method. - - - - -
Accumulated depletion ............................. - - - - -
----------- ----------- ----------- ----------- -----------
Net Oil and Gas Producing Properties .............. - - - - -
----------- ----------- ----------- ----------- -----------
Net Property, Plant, and Equipment .................. - - - - -
----------- ----------- ----------- ----------- -----------
Investments and Other Assets
Accounts receivable - noncurrent .................. - - - - -
Unconsolidated affiliates ......................... 72 8,696 8,768 - 8,768
Other ............................................. - - - - -
----------- ----------- ----------- ----------- -----------
Total Investments and Other Assets .................. 72 8,696 8,768 - 8,768
----------- ----------- ----------- ----------- -----------
Investments in Subsidiaries
Capital stock ..................................... - - - - -
Equity in undistributed earnings of
subsidiaries ..................................... - - - - -
Notes receivable .................................. - - - - -
Other investments.................................. - - - - -
Other receivables - TCO............................ - - - - -
----------- ----------- ----------- ----------- -----------
Total Investments in Subsidiaries ................... - - - - -
----------- ----------- ----------- ----------- -----------
Current Assets
Cash and temporary cash investments ............... 1 1 2 - 2
Accounts receivable, net
Customers ....................................... - 19 19 - 19
Intercompany .................................... - 3,767 3,767 (73) 3,694
Other ........................................... - 161 161 - 161
Gas inventory ..................................... - - - - -
Other inventories, at average cost ................ - - - - -
Prepayments ....................................... - 16 16 - 16
Other ............................................. - - - - -
----------- ----------- ----------- ----------- -----------
Total Current Assets ................................ 1 3,964 3,965 (73) 3,892
----------- ----------- ----------- ----------- -----------
Deferred Charges .................................... - 952 952 1,758 2,710
----------- ----------- ----------- ----------- -----------
TOTAL ASSETS ........................................ 73 13,612 13,685 1,685 15,370
=========== =========== =========== =========== ===========
</TABLE>
<PAGE> 70
PAGE 67
F-1D (2 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Balance Sheet as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CLG
CAPITALIZATION AND LIABILITIES CLNG CLG Combined Entries Consolidated
----------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) ... - - - - 0
Subsidiaries - common stock ...................... - 3,680 3,680 - 3,680
Additional paid in capital ....................... - 132,933 132,933 - 132,933
Retained earnings ................................ - (123,701) (123,701) - (123,701)
Unearned employee compensation ................... - - - - -
----------- ----------- ----------- ----------- -----------
Total common stock equity .......................... - 12,912 12,912 - 12,912
Long-term debt ..................................... - - - - -
Installment promissory notes payable ............... - - - - -
Other intercompany notes and loans ................. - - - - -
----------- ----------- ----------- ----------- -----------
Total Capitalization ................................. - 12,912 12,912 - 12,912
----------- ----------- ----------- ----------- -----------
Current Liabilities
Debtor-in-possession financing ..................... - - - - -
Debt obligations ................................... - - - - -
Accounts and drafts payable ........................ - 24 24 - 24
Intercompany notes and loans - current maturities... - - - - -
Intercompany short-term loans ...................... - - - - -
Intercompany accounts payable ...................... 73 919 992 (73) 919
Accrued taxes ...................................... - (1,841) (1,841) - (1,841)
Estimated rate refunds ............................. - 6 6 - 6
Estimated supplier obligations ..................... - - - - -
Transportation and exchange gas payable ............ - - - - -
Deferred income taxes .............................. - 27 27 - 27
Other .............................................. - 824 824 - 824
----------- ----------- ----------- ----------- -----------
Total Current Liabilities ............................ 73 (41) 32 (73) (41)
----------- ----------- ----------- ----------- -----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ....................................... - - - - -
Intercompany ....................................... - - - - -
----------- ----------- ----------- ----------- -----------
Total Liabilities Subject To Chapter 11 Proceedings .. - - - - -
----------- ----------- ----------- ----------- -----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ........................... - (627) (627) 1,758 1,131
Investment tax credits ............................. - - - - -
Postretirement benefits other than pensions ........ - 1,320 1,320 - 1,320
Other .............................................. - 48 48 - 48
----------- ----------- ----------- ----------- -----------
Total Other Liabilities and Deferred Credits ......... - 741 741 1,758 2,499
----------- ----------- ----------- ----------- -----------
TOTAL CAPITALIZATION AND LIABILITIES ................. 73 13,612 13,685 1,685 15,370
=========== =========== =========== =========== ===========
</TABLE>
<PAGE> 71
PAGE 68
F-2 (1 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Balance Sheet Entries as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
Total Transactions Equity Cost Pool Adjustments
----------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... (46,897) (3,604) - - (43,293)
Accumulated depreciation and depletion ............ 2,149 - - - 2,149
----------- ----------- ----------- ----------- -----------
Net Gas Utility and Other Plant ................... (44,748) (3,604) - - (41,144)
Oil and gas producing properties, full cost method. 0 - - - -
Accumulated depletion ............................. 190,148 - - 190,148 -
----------- ----------- ----------- ----------- -----------
Net Oil and Gas Producing Properties .............. 190,148 - - 190,148 -
----------- ----------- ----------- ----------- -----------
Net Property, Plant, and Equipment .................. 145,400 (3,604) - 190,148 (41,144)
----------- ----------- ----------- ----------- -----------
Investments and Other Assets
Accounts receivable - noncurrent .................. (22,721) (608) - - (22,113)
Unconsolidated affiliates ......................... 0 - - - -
Other ............................................. 1,997 - 1,997 - -
----------- ----------- ----------- ----------- -----------
Total Investments and Other Assets .................. (20,724) (608) 1,997 - (22,113)
----------- ----------- ----------- ----------- -----------
Investments in Subsidiaries
Capital stock ..................................... (1,297,488) - (1,297,488) - -
Equity in undistributed earnings of
subsidiaries ..................................... 489,781 - 489,781 - -
Notes receivable .................................. (790,632) (790,632) - - -
Other investments.................................. (437,833) (437,833) - - -
Other receivables - TCO............................ (1,605,720) (1,605,720) - - -
----------- ----------- ----------- ----------- -----------
Total Investments in Subsidiaries ................... (3,641,892) (2,834,185) (807,707) - -
----------- ----------- ----------- ----------- -----------
Current Assets
Cash and temporary cash investments ............... - - - - -
Accounts receivable, net
Customers ....................................... 520 520 - - -
Intercompany .................................... (320,801) (320,801) - - -
Other ........................................... (17,829) 4,300 - - (22,129)
Gas inventory ..................................... - - - - -
Other inventories, at average cost ................ - - - - -
Prepayments ....................................... - - - - -
Other ............................................. (27,284) - - - (27,284)
----------- ----------- ----------- ----------- -----------
Total Current Assets ................................ (365,394) (315,981) - - (49,413)
----------- ----------- ----------- ----------- -----------
Deferred Charges .................................... (302,206) (58,045) 5,030 - (249,191)
----------- ----------- ----------- ----------- -----------
TOTAL ASSETS ........................................ (4,184,816) (3,212,423) (800,680) 190,148 (361,861)
=========== =========== =========== =========== ===========
</TABLE>
<PAGE> 72
PAGE 69
F-2 (2 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Balance Sheet Entries as of December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
Total Transactions Equity Cost Pool Adjustments
----------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C>
CAPITALIZATION AND LIABILITIES
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) ...... - - - - -
Subsidiaries - common stock ......................... (896,940) - (896,940) - -
Additional paid in capital .......................... (375,145) - (375,145) - -
Retained earnings ................................... 611,372 53,964 470,346 123,596 (36,534)
Unearned employee compensation ...................... - - - - -
----------- ----------- ----------- ----------- -----------
Total common stock equity ............................. (660,713) 53,964 (801,739) 123,596 (36,534)
Long-term debt ........................................ - - - - -
Installment promissory notes payable .................. (742,274) (742,274) - - -
Other intercompany notes and loans .................... - - - - -
----------- ----------- ----------- ----------- -----------
Total Capitalization .................................... (1,402,987) (688,310) (801,739) 123,596 (36,534)
----------- ----------- ----------- ----------- -----------
Current Liabilities
Debtor-in-possession financing ........................ - - - - -
Debt obligations ...................................... - - - - -
Accounts and drafts payable ........................... - - - - -
Intercompany notes and loans - current maturities...... (79,111) (79,111) - - -
Intercompany short-term loans ......................... (99,918) (99,918) - - -
Intercompany accounts payable ......................... (95,218) (95,218) - - -
Accrued taxes ......................................... (18,965) - - - (18,965)
Estimated rate refunds ................................ - - - - -
Estimated supplier obligations ........................ - - - - -
Overrecovered gas costs ............................... - - - - -
Transportation and exchange gas payable ............... (86) (86) - - -
Deferred income taxes ................................. (13,047) 29,056 - - (42,103)
Other ................................................. (28,158) (2,881) - - (25,277)
----------- ----------- ----------- ----------- -----------
Total Current Liabilities ............................... (334,503) (248,158) - - (86,345)
----------- ----------- ----------- ----------- -----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated .......................................... - - - - -
Intercompany .......................................... (2,255,947) (2,255,947) - - -
----------- ----------- ----------- ----------- -----------
Total Liabilities Subject To Chapter 11 Proceedings ..... (2,255,947) (2,255,947) - - -
----------- ----------- ----------- ----------- -----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent .............................. (172,430) - - 66,552 (238,982)
Investment tax credits ................................ - - - - -
Postretirement benefits other than pensions ........... - - - - -
Other ................................................. (18,949) (20,008) 1,059 - -
----------- ----------- ----------- ----------- -----------
Total Other Liabilities and Deferred Credits ............ (191,379) (20,008) 1,059 66,552 (238,982)
----------- ----------- ----------- ----------- -----------
TOTAL CAPITALIZATION AND LIABILITIES .................... (4,184,816) (3,212,423) (800,680) 190,148 (361,861)
=========== =========== =========== =========== ===========
</TABLE>
<PAGE> 73
PAGE 70
F-2A (1 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia Gas Transmission Corporation and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
Total Transactions Equity Cost Pool Adjustments
----------- ------------ ----------- ---------- ----------
<S> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... - - - - -
Accumulated depreciation and depletion ............ - - - - -
Net Gas Utility and Other Plant ................... - - - - -
Oil and gas producing properties, full cost method. - - - - -
Accumulated depletion ............................. - - - - -
Net Oil and Gas Producing Properties .............. - - - - -
----------- ------------ ----------- ---------- ----------
Net Property, Plant, and Equipment .................. - - - - -
----------- ------------ ----------- ---------- ----------
Investments and Other Assets
Accounts receivable - noncurrent .................. - - - - -
Unconsolidated affiliates ......................... - - - - -
Gas supply prepayments ............................ - - - - -
Other ............................................. - - - - -
----------- ------------ ----------- ---------- ----------
Total Investments and Other Assets .................. - - - - -
----------- ------------ ----------- ---------- ----------
Investments in Subsidiaries
Capital stock ..................................... - - - - -
Equity in undistributed earnings of
subsidiaries ..................................... (1,321,955) - (1,321,955) - -
Notes receivable .................................. - - - - -
Other investments.................................. - - - - -
Other receivables - TCO............................ - - - - -
----------- ------------ ----------- ---------- ----------
Total Investments in Subsidiaries ................... (1,321,955) - (1,321,955) - -
----------- ------------ ----------- ---------- ----------
Current Assets
Cash and temporary cash investments ............... - - - - -
Accounts receivable, net
Customers ....................................... - - - - -
Intercompany .................................... (51,735) (51,735) - - -
Other ........................................... - - - - -
Gas inventory ..................................... - - - - -
Other inventories, at average cost ................ - - - - -
Prepayments ....................................... - - - - -
Other ............................................. - - - - -
----------- ------------ ----------- ---------- ----------
Total Current Assets ................................ (51,735) (51,735) - - -
----------- ------------ ----------- ---------- ----------
Deferred Charges .................................... - - - - -
----------- ------------ ----------- ---------- ----------
TOTAL ASSETS ........................................ (1,373,690) (51,735) (1,321,955) - -
=========== ============ =========== ========== ==========
</TABLE>
<PAGE> 74
PAGE 71
F-2A (2 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia Gas Transmission Corporation and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
CAPITALIZATION AND LIABILITIES Total Transactions Equity Cost Pool Adjustments
----------- ------------ ----------- ---------- ----------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) ... - - - - -
Subsidiaries - common stock ...................... 84,433 - 84,433 - -
Additional paid in capital .......................(1,337,433) - (1,337,433) - -
Retained earnings ................................ (68,955) - (68,955) - -
Unearned employee compensation ................... - - - - -
----------- ------------ ----------- ---------- ----------
Total common stock equity ..........................(1,321,955) - (1,321,955) - -
Long-term debt ..................................... - - - - -
Installment promissory notes payable ............... - - - - -
Other intercompany notes and loans ................. - - - - -
----------- ------------ ----------- ---------- ----------
Total Capitalization .................................(1,321,955) - (1,321,955) - -
----------- ------------ ----------- ---------- ----------
Current Liabilities
Debtor-in-possession financing ..................... - - - - -
Debt obligations ................................... (51,356) (51,356) - - -
Accounts and drafts payable ........................ - - - - -
Intercompany notes and loans - current maturities... - - - - -
Intercompany short-term loans ...................... - - - - -
Intercompany accounts payable ...................... (379) (379) - - -
Accrued taxes ...................................... - - - - -
Estimated rate refunds ............................. - - - - -
Estimated supplier obligations ..................... - - - - -
Transportation and exchange gas payable ............ - - - - -
Deferred income taxes .............................. - - - - -
Other .............................................. - - - - -
----------- ------------ ----------- ---------- ----------
Total Current Liabilities ............................ (51,735) (51,735) - - -
----------- ------------ ----------- ---------- ----------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ....................................... - - - - -
Intercompany ....................................... - - - - -
----------- ------------ ----------- ---------- ----------
Total Liabilities Subject To Chapter 11 Proceedings .. - - - - -
----------- ------------ ----------- ---------- ----------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ........................... - - - - -
Investment tax credits ............................. - - - - -
Postretirement benefits other than pensions ........ - - - - -
Other .............................................. - - - - -
----------- ------------ ----------- ---------- ----------
Total Other Liabilities and Deferred Credits ......... - - - - -
----------- ------------ ----------- ---------- ----------
TOTAL CAPITALIZATION AND LIABILITIES .................(1,373,690) (51,735) (1,321,955) - -
=========== ============ =========== ========== ==========
</TABLE>
<PAGE> 75
PAGE 72
F-2B (1 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
Total Transactions Equity Cost Pool Adjustments
---------- ------------ ----------- ----------- ------------
<S> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... - - - - -
Accumulated depreciation and depletion ............ - - - - -
Net Gas Utility and Other Plant ................... - - - - -
Oil and gas producing properties, full cost method. - - - - -
Accumulated depletion ............................. - - - - -
Net Oil and Gas Producing Properties .............. - - - - -
---------- ------------ ----------- ----------- ------------
Net Property, Plant, and Equipment .................. - - - - -
---------- ------------ ----------- ----------- ------------
Investments and Other Assets
Accounts receivable - noncurrent .................. - - - - -
Unconsolidated affiliates ......................... - - - - -
Other ............................................. - - - - -
---------- ------------ ----------- ----------- ------------
Total Investments and Other Assets .................. - - - - -
---------- ------------ ----------- ----------- ------------
Investments in Subsidiaries
Capital stock ..................................... (17,690) - (17,690) - -
Equity in undistributed earnings of
subsidiaries ..................................... 791 - 791 - -
Notes receivable .................................. (10,533) (10,533) - - -
Other investments.................................. (5,556) (5,556) - - -
Other receivables - TCO............................ - - - - -
---------- ------------ ----------- ----------- ------------
Total Investments in Subsidiaries ................... (32,988) (16,089) (16,899) - -
---------- ------------ ----------- ----------- ------------
Current Assets
Cash and temporary cash investments ............... - - - - -
Accounts receivable, net
Customers ....................................... - - - - -
Intercompany .................................... - - - - -
Other ........................................... - - - - -
Gas inventory ..................................... - - - - -
Other inventories, at average cost ................ - - - - -
Prepayments ....................................... - - - - -
Other ............................................. - - - - -
---------- ------------ ----------- ----------- ------------
Total Current Assets ................................ - - - - -
---------- ------------ ----------- ----------- ------------
Deferred Charges .................................... - - - - -
---------- ------------ ----------- ----------- ------------
TOTAL ASSETS ........................................ (32,988) (16,089) (16,899) - -
========== ============ =========== =========== ============
</TABLE>
<PAGE> 76
PAGE 73
F-2B (2 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
CAPITALIZATION AND LIABILITIES Total Transactions Equity Cost Pool Adjustments
---------- ------------ ----------- ----------- ------------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) .... - - - - -
Subsidiaries - common stock ....................... (370) - (370) - -
Additional paid in capital ........................ (17,320) - (17,320) - -
Retained earnings ................................. 791 - 791 - -
Unearned employee compensation .................... - - - - -
---------- ------------ ----------- ----------- ------------
Total common stock equity ........................... (16,899) - (16,899) - -
Long-term debt ...................................... - - - - -
Installment promissory notes payable ................ - - - - -
Other intercompany notes and loans .................. - - - - -
---------- ------------ ----------- ----------- ------------
Total Capitalization .................................. (16,899) - (16,899) - -
---------- ------------ ----------- ----------- ------------
Current Liabilities
Debtor-in-possession financing ...................... - - - - -
Debt obligations .................................... - - - - -
Accounts and drafts payable ......................... - - - - -
Intercompany notes and loans - current maturities.... - - - - -
Intercompany short-term loans ....................... (16,838) (16,838) - - -
Intercompany accounts payable ....................... - - - - -
Accrued taxes ....................................... 749 749 - - -
Estimated rate refunds .............................. - - - - -
Estimated supplier obligations ...................... - - - - -
Transportation and exchange gas payable ............. - - - - -
Deferred income taxes ............................... - - - - -
Other ............................................... - - - - -
---------- ------------ ----------- ----------- ------------
Total Current Liabilities ............................. (16,089) (16,089) - - -
---------- ------------ ----------- ----------- ------------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ........................................ - - - - -
Intercompany ........................................ - - - - -
---------- ------------ ----------- ----------- ------------
Total Liabilities Subject To Chapter 11 Proceedings - - - - -
---------- ------------ ----------- ----------- ------------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ............................ - - - - -
Investment tax credits .............................. - - - - -
Postretirement benefits other than pensions ......... - - - - -
Other ............................................... - - - - -
---------- ------------ ----------- ----------- ------------
Total Other Liabilities and Deferred Credits .......... - - - - -
---------- ------------ ----------- ----------- ------------
TOTAL CAPITALIZATION AND LIABILITIES .................. (32,988) (16,089) (16,899) - -
========== ============ =========== =========== ============
</TABLE>
<PAGE> 77
PAGE 74
F-2C (1 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
Total Transactions Equity Cost Pool Adjustments
---------- ------------ ----------- ----------- ------------
<S> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost ..... - - - - -
Accumulated depreciation and depletion ............ - - - - -
Net Gas Utility and Other Plant ................... - - - - -
Oil and gas producing properties, full cost method. - - - - -
Accumulated depletion ............................. - - - - -
Net Oil and Gas Producing Properties .............. - - - - -
---------- ------------ ----------- ----------- ------------
Net Property, Plant, and Equipment .................. - - - - -
---------- ------------ ----------- ----------- ------------
Investments and Other Assets
Accounts receivable - noncurrent .................. - - - - -
Unconsolidated affiliates ......................... - - - - -
Other ............................................. - - - - -
---------- ------------ ----------- ----------- ------------
Total Investments and Other Assets .................. - - - - -
---------- ------------ ----------- ----------- ------------
Investments in Subsidiaries
Capital stock ..................................... (2,000) - (2,000) - -
Equity in undistributed earnings of
subsidiaries ..................................... 240 - 240 - -
Notes receivable .................................. (21) (21) - - -
Other investments.................................. - - - - -
Other receivables - TCO............................ - - - - -
---------- ------------ ----------- ----------- ------------
Total Investments in Subsidiaries ................... (1,781) (21) (1,760) - -
---------- ------------ ----------- ----------- ------------
Current Assets
Cash and temporary cash investments ............... - - - - -
Accounts receivable, net
Customers ....................................... - - - - -
Intercompany .................................... - - - - -
Other ........................................... - - - - -
Gas inventory ..................................... - - - - -
Other inventories, at average cost ................ - - - - -
Prepayments ....................................... - - - - -
Other ............................................. - - - - -
---------- ------------ ----------- ----------- ------------
Total Current Assets ................................ - - - - -
---------- ------------ ----------- ----------- ------------
Deferred Charges .................................... 59 - - - 59
---------- ------------ ----------- ----------- ------------
TOTAL ASSETS ........................................ (1,722) (21) (1,760) - 59
========== ============ =========== =========== ============
</TABLE>
<PAGE> 78
PAGE 75
F-2C (2 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
Total Transactions Equity Cost Pool Adjustments
---------- ------------ ----------- ----------- ------------
<S> <C> <C> <C> <C> <C>
CAPITALIZATION AND LIABILITIES
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) .... - - - - -
Subsidiaries - common stock ....................... (2,000) - (2,000) - -
Additional paid in capital ........................ - - - - -
Retained earnings ................................. 240 - 240 - -
Unearned employee compensation .................... - - - - -
---------- ------------ ----------- ----------- ------------
Total common stock equity ........................... (1,760) - (1,760) - -
Long-term debt ...................................... - - - - -
Installment promissory notes payable ................ - - - - -
Other intercompany notes and loans .................. (17) (17) - - -
---------- ------------ ----------- ----------- ------------
Total Capitalization .................................. (1,777) (17) (1,760) - -
---------- ------------ ----------- ----------- ------------
Current Liabilities
Debtor-in-possession financing ...................... - - - - -
Debt obligations .................................... - - - - -
Accounts and drafts payable ......................... - - - - -
Intercompany notes and loans - current maturities.... - - - - -
Intercompany short-term loans ....................... - - - - -
Intercompany accounts payable ....................... (4) (4) - - -
Accrued taxes ....................................... - - - - -
Estimated rate refunds .............................. - - - - -
Estimated supplier obligations ...................... - - - - -
Transportation and exchange gas payable ............. - - - - -
Deferred income taxes ............................... - - - - -
Other ............................................... - - - - -
---------- ------------ ----------- ----------- ------------
Total Current Liabilities ............................. (4) (4) - - -
---------- ------------ ----------- ----------- ------------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ........................................ - - - - -
Intercompany ........................................ - - - - -
---------- ------------ ----------- ----------- ------------
Total Liabilities Subject To Chapter 11 Proceedings ... - - - - -
---------- ------------ ----------- ----------- ------------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ............................ 59 - - - 59
Investment tax credits .............................. - - - - -
Postretirement benefits other than pensions ......... - - - - -
Other ............................................... - - - - -
---------- ------------ ----------- ----------- ------------
Total Other Liabilities and Deferred Credits .......... 59 - - - 59
---------- ------------ ----------- ----------- ------------
TOTAL CAPITALIZATION AND LIABILITIES .................. (1,722) (21) (1,760) - 59
========== ============ =========== =========== ============
</TABLE>
<PAGE> 79
F-2D (1 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
Total Transactions Equity Cost Pool Adjustments
------------ ------------ ------------ ----------- ------------
<S> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost .... - - - - -
Accumulated depreciation and depletion ........... - - - - -
Net Gas Utility and Other Plant .................. - - - - -
Oil and gas producing properties, full cost method - - - - -
Accumulated depletion ............................ - - - - -
Net Oil and Gas Producing Properties ............. - - - - -
------------ ------------ ------------ ----------- ------------
Net Property, Plant, and Equipment ................. - - - - -
------------ ------------ ------------ ----------- ------------
Investments and Other Assets
Accounts receivable - noncurrent ................. - - - - -
Unconsolidated affiliates ........................ - - - - -
Other ............................................ - - - - -
------------ ------------ ------------ ----------- ------------
Total Investments and Other Assets ................. - - - - -
------------ ------------ ------------ ----------- ------------
Investments in Subsidiaries
Capital stock .................................... - - - - -
Equity in undistributed earnings of
subsidiaries .................................... - - - - -
Notes receivable ................................. - - - - -
Other investments................................. - - - - -
Other receivables - TCO........................... - - - - -
------------ ------------ ------------ ----------- ------------
Total Investments in Subsidiaries .................. - - - - -
------------ ------------ ------------ ----------- ------------
Current Assets
Cash and temporary cash investments .............. - - - - -
Accounts receivable, net
Customers ...................................... - - - - -
Intercompany ................................... (73) (73) - - -
Other .......................................... - - - - -
Gas inventory .................................... - - - - -
Other inventories, at average cost ............... - - - - -
Prepayments ...................................... - - - - -
Other ............................................ - - - - -
------------ ------------ ------------ ----------- ------------
Total Current Assets ............................... (73) (73) - - -
------------ ------------ ------------ ----------- ------------
Deferred Charges ................................... 1,758 - - - 1,758
------------ ------------ ------------ ----------- ------------
TOTAL ASSETS ....................................... 1,685 (73) - - 1,758
============ ============ ============ =========== ============
</TABLE>
<PAGE> 80
F-2D (2 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
CAPITALIZATION AND LIABILITIES Total Transactions Equity Cost Pool Adjustments
------------ ------------ ------------ ----------- ------------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
The Columbia Gas System, Inc. - common stock,
$10 par value (50,563,335 shares outstanding) . - - - - -
Subsidiaries - common stock .................... - - - - -
Additional paid in capital ..................... - - - - -
Retained earnings .............................. - - - - -
Unearned employee compensation ................. - - - - -
------------ ------------ ------------ ----------- ------------
Total common stock equity ........................ - - - - -
Long-term debt ................................... - - - - -
Installment promissory notes payable ............. - - - - -
Other intercompany notes and loans ............... - - - - -
------------ ------------ ------------ ----------- ------------
Total Capitalization ............................... - - - - -
------------ ------------ ------------ ----------- ------------
Current Liabilities
Debtor-in-possession financing ................... - - - - -
Debt obligations ................................. - - - - -
Accounts and drafts payable ...................... - - - - -
Intercompany notes and loans - current maturities. - - - - -
Intercompany short-term loans .................... - - - - -
Intercompany accounts payable .................... (73) (73) - - -
Accrued taxes .................................... - 0 - - -
Estimated rate refunds ........................... - 0 - - -
Estimated supplier obligations ................... - 0 - - -
Transportation and exchange gas payable .......... - 0 - - -
Deferred income taxes ............................ - 0 - - -
Other ............................................ - 0 - - -
------------ ------------ ------------ ----------- ------------
Total Current Liabilities .......................... (73) (73) - - -
------------ ------------ ------------ ----------- ------------
Liabilities Subject To Chapter 11 Proceedings
Unaffiliated ..................................... - - - - -
Intercompany ..................................... - - - - -
------------ ------------ ------------ ----------- ------------
Total Liabilities Subject To Chapter 11 Proceedings - - - - -
------------ ------------ ------------ ----------- ------------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ......................... 1,758 - - - 1,758
Investment tax credits ........................... - - - - -
Postretirement benefits other than pensions ...... - - - - -
Other ............................................ - - - - -
------------ ------------ ------------ ----------- ------------
Total Other Liabilities and Deferred Credits ....... 1,758 - - - 1,758
------------ ------------ ------------ ----------- ------------
TOTAL CAPITALIZATION AND LIABILITIES ............... 1,685 (73) - - 1,758
============ ============ ============ =========== ============
</TABLE>
<PAGE> 81
PAGE 78
F-3 (1 of 5) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3 F-3 F-3 F-3
Page 2 Page 3 Page 4 Page 5
------------ ------------ ------------ ---------
<S> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................................. 215,548 1,884,364 - -
Transportation ........................................ 795,943 83,997 - -
Other ................................................. 229,746 2,301 129,424 -
------------ ------------ ------------ ---------
Total Operating Revenues ................................ 1,241,237 1,970,662 129,424 -
------------ ------------ ------------ ---------
Operating Expenses
Products purchased .................................... 68,627 1,276,415 33,386 -
Operation ............................................. 574,281 338,889 161,594 2,362
Maintenance ........................................... 88,729 40,349 4,580 -
Depreciation and depletion ............................ 194,159 60,749 7,079 -
Other taxes ........................................... 67,607 136,184 4,922 294
------------ ------------ ------------ ---------
Total Operating Expenses ................................ 993,403 1,852,586 211,561 2,656
------------ ------------ ------------ ---------
Operating Income (Loss) ................................. 247,834 118,076 (82,137) (2,656)
------------ ------------ ------------ ---------
Other Income (Deductions)
Interest income and other, net ........................ 36,394 (15) 395,150 6,404
Interest expense and related charges .................. (168,437) (32,235) (7,278) 308
Reorganization items, net ............................. (11,788) - (544) -
------------ ------------ ------------ ---------
Total Other Income (Deductions) ......................... (143,831) (32,250) 387,328 6,712
------------ ------------ ------------ ---------
Income (Loss) before Income Taxes and Cumulative Effect
of Accounting Change .................................. 104,003 85,826 305,191 4,056
Income Taxes ............................................ 31,609 29,541 57,767 1,530
------------ ------------ ------------ ---------
Income (Loss) before Cumulative Effect of
Accounting Change ..................................... 72,394 56,285 247,424 2,526
Cumulative effect of change in accounting for
postemployment benefits ............................... (4,629) (96) (375) -
------------ ------------ ------------ ---------
Net Income (Loss) ....................................... 67,765 56,189 247,049 2,526
============ ============ ============ =========
</TABLE>
<TABLE>
<CAPTION>
Consoli-
dating Consoli-
Combined Entries dated
---------- ------------ ----------
<S> <C> <C> <C>
Operating Revenues
Gas sales ............................................. 2,099,912 (83,291) 2,016,621
Transportation ........................................ 879,940 (282,072) 597,868
Other ................................................. 361,471 (142,542) 218,929
---------- ------------ ----------
Total Operating Revenues ................................ 3,341,323 (507,905) 2,833,418
---------- ------------ ----------
Operating Expenses
Products purchased .................................... 1,378,428 (401,685) 976,743
Operation ............................................. 1,077,126 (198,084) 879,042
Maintenance ........................................... 133,658 - 133,658
Depreciation and depletion ............................ 261,987 (248) 261,739
Other taxes ........................................... 209,007 - 209,007
---------- ------------ ----------
Total Operating Expenses ................................ 3,060,206 (600,017) 2,460,189
---------- ------------ ----------
Operating Income (Loss) ................................. 281,117 92,112 373,229
---------- ------------ ----------
Other Income (Deductions)
Interest income and other, net ........................ 437,933 (391,856) 46,077
Interest expense and related charges .................. (207,642) 192,849 (14,793)
Reorganization items, net ............................. (12,332) - (12,332)
---------- ------------ ----------
Total Other Income (Deductions) ......................... 217,959 (199,007) 18,952
---------- ------------ ----------
Income (Loss) before Income Taxes and Cumulative Effect
of Accounting Change .................................. 499,076 (106,895) 392,181
Income Taxes ............................................ 120,447 25,514 145,961
---------- ------------ ----------
Income (Loss) before Cumulative Effect of
Accounting Change ..................................... 378,629 (132,409) 246,220
Cumulative effect of change in accounting for
postemployment benefits ............................... (5,100) (473) (5,573)
---------- ------------ ----------
Net Income (Loss) ....................................... 373,529 (132,882) 240,647
========== ============ ==========
</TABLE>
<PAGE> 82
PAGE 79
F-3 (2 of 5) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3 Page 2
CNR CGD TCO(a) CGT CKY Total
------------ ------------ ------------ --------- ---------- ------------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................................ 83,201 64,544 (48,377) - 116,180 215,548
Transportation ....................................... - - 583,220 206,883 5,840 795,943
Other ................................................ 7,486 50,106 170,190 1,704 260 229,746
------------ ------------ ------------ --------- ---------- ------------
Total Operating Revenues ............................... 90,687 114,650 705,033 208,587 122,280 1,241,237
------------ ------------ ------------ --------- ---------- ------------
Operating Expenses
Products purchased ................................... - 1,920 (7,124) 1 73,830 68,627
Operation ............................................ 38,381 36,496 370,839 100,969 27,596 574,281
Maintenance .......................................... 151 28 43,312 42,355 2,883 88,729
Depreciation and depletion ........................... 20,598 63,667 76,719 27,499 5,676 194,159
Other taxes .......................................... 7,787 3,837 45,553 8,421 2,009 67,607
------------ ------------ ------------ --------- ---------- ------------
Total Operating Expenses ............................... 66,917 105,948 529,299 179,245 111,994 993,403
------------ ------------ ------------ --------- ---------- ------------
Operating Income (Loss) ................................ 23,770 8,702 175,734 29,342 10,286 247,834
------------ ------------ ------------ --------- ---------- ------------
Other Income (Deductions)
Interest income and other, net ....................... 2,537 2,611 26,425 4,876 (55) 36,394
Interest expense and related charges ................. (3,504) (11,681) (149,894) (167) (3,191) (168,437)
Reorganization items, net ............................ - - (11,788) - - (11,788)
------------ ------------ ------------ --------- ---------- ------------
Total Other Income (Deductions) ........................ (967) (9,070) (135,257) 4,709 (3,246) (143,831)
------------ ------------ ------------ --------- ---------- ------------
Income (Loss) before Income Taxes and Cumulative Effect
of Accounting Change ................................. 22,803 (368) 40,477 34,051 7,040 104,003
Income Taxes ........................................... 9,123 (414) 9,196 10,505 3,199 31,609
------------ ------------ ------------ --------- ---------- ------------
Income (Loss) before Cumulative Effect of
Accounting Change .................................... 13,680 46 31,281 23,546 3,841 72,394
Cumulative effect of change in accounting for
postemployment benefits .............................. (361) (183) (3,119) (966) - (4,629)
------------ ------------ ------------ --------- ---------- ------------
Net Income (Loss) ...................................... 13,319 (137) 28,162 22,580 3,841 67,765
============ ============ ============ ========= ========== ============
</TABLE>
(a) TCO includes one subsidiary as noted in Item 1. Consolidating financial
statements of TCO are presented herewith in Item 10 Exhibits F1A through F6A.
<PAGE> 83
PAGE 80
F-3 (3 of 5) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3 Page 3
COH CMD CPA COS CES Total
------------ ------------ ------------ --------- ---------- ------------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................................ 1,086,382 31,867 381,929 152,122 232,064 1,884,364
Transportation ....................................... 50,955 1,672 23,367 8,003 - 83,997
Other ................................................ 1,709 17 526 49 - 2,301
------------ ------------ ------------ --------- ---------- ------------
Total Operating Revenues ............................... 1,139,046 33,556 405,822 160,174 232,064 1,970,662
------------ ------------ ------------ --------- ---------- ------------
Operating Expenses
Products purchased ................................... 709,041 16,795 235,171 90,111 225,297 1,276,415
Operation ............................................ 207,640 8,108 84,195 34,291 4,655 338,889
Maintenance .......................................... 22,421 1,467 10,280 6,181 - 40,349
Depreciation and depletion ........................... 37,965 2,125 12,861 7,723 75 60,749
Other taxes .......................................... 102,282 1,910 24,422 7,369 201 136,184
------------ ------------ ------------ --------- ---------- ------------
Total Operating Expenses ............................... 1,079,349 30,405 366,929 145,675 230,228 1,852,586
------------ ------------ ------------ --------- ---------- ------------
Operating Income (Loss) ................................ 59,697 3,151 38,893 14,499 1,836 118,076
------------ ------------ ------------ --------- ---------- ------------
Other Income (Deductions)
Interest income and other, net ....................... (515) (3) (33) 335 201 (15)
Interest expense and related charges ................. (12,394) (1,096) (12,022) (7,236) 513 (32,235)
Reorganization items, net ............................ - - - - - -
------------ ------------ ------------ --------- ---------- ------------
Total Other Income (Deductions) ........................ (12,909) (1,099) (12,055) (6,901) 714 (32,250)
------------ ------------ ------------ --------- ---------- ------------
Income (Loss) before Income Taxes and Cumulative Effect
of Accounting Change ................................. 46,788 2,052 26,838 7,598 2,550 85,826
Income Taxes ........................................... 14,242 779 10,620 2,848 1,052 29,541
------------ ------------ ------------ --------- ---------- ------------
Income (Loss) before Cumulative Effect of
Accounting Change .................................... 32,546 1,273 16,218 4,750 1,498 56,285
Cumulative effect of change in accounting for
postemployment benefits .............................. - (20) - (76) - (96)
------------ ------------ ------------ --------- ---------- ------------
Net Income (Loss) ...................................... 32,546 1,253 16,218 4,674 1,498 56,189
============ ============ ============ ========= ========== ============
</TABLE>
<PAGE> 84
PAGE 81
F-3 (4 of 5) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3 Page 4
CG CS CGC CPC CPI Total
------------ ------------ ------------ --------- ---------- ------------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................................ - - - - - -
Transportation ....................................... - - - - - -
Other ................................................ - 62,454 3,762 10,330 52,878 129,424
------------ ------------ ------------ --------- ---------- ------------
Total Operating Revenues ............................... - 62,454 3,762 10,330 52,878 129,424
------------ ------------ ------------ --------- ---------- ------------
Operating Expenses
Products purchased ................................... - - - 5,340 28,046 33,386
Operation ............................................ 96,401 46,312 776 2,582 15,523 161,594
Maintenance .......................................... - 3,272 - 136 1,172 4,580
Depreciation and depletion ........................... - 4,836 35 786 1,422 7,079
Other taxes .......................................... 160 2,654 691 303 1,114 4,922
------------ ------------ ------------ --------- ---------- ------------
Total Operating Expenses ............................... 96,561 57,074 1,502 9,147 47,277 211,561
------------ ------------ ------------ --------- ---------- ------------
Operating Income (Loss) ................................ (96,561) 5,380 2,260 1,183 5,601 (82,137)
------------ ------------ ------------ --------- ---------- ------------
Other Income (Deductions)
Interest income and other, net ....................... 391,596 2,271 660 44 579 395,150
Interest expense and related charges ................. (569) (3,835) (2,005) (265) (604) (7,278)
Reorganization items, net ............................ (544) - - - - (544)
------------ ------------ ------------ --------- ---------- ------------
Total Other Income (Deductions) ........................ 390,483 (1,564) (1,345) (221) (25) 387,328
------------ ------------ ------------ --------- ---------- ------------
Income (Loss) before Income Taxes and Cumulative Effect
of Accounting Change ................................. 293,922 3,816 915 962 5,576 305,191
Income Taxes ........................................... 53,224 1,674 527 218 2,124 57,767
------------ ------------ ------------ --------- ---------- ------------
Income (Loss) before Cumulative Effect of
Accounting Change .................................... 240,698 2,142 388 744 3,452 247,424
Cumulative effect of change in accounting for
postemployment benefits .............................. (51) - - (151) (173) (375)
------------ ------------ ------------ --------- ---------- ------------
Net Income (Loss) ...................................... 240,647 2,142 388 593 3,279 247,049
============ ============ ============ ========= ========== ============
</TABLE>
<PAGE> 85
PAGE 82
F-3 (5 of 5) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3 Page 5
TVC (a) TCC (a) CAT Total
------------ ------------ ------------ ---------
<S> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................................. - - - -
Transportation ........................................ - - - -
Other ................................................. - - - -
------------ ------------ ------------ ---------
Total Operating Revenues ................................ - - - -
------------ ------------ ------------ ---------
Operating Expenses
Products purchased .................................... - - - -
Operation ............................................. 2,246 23 93 2,362
Maintenance ........................................... - - - -
Depreciation and depletion ............................ - - - -
Other taxes ........................................... 294 (2) 2 294
------------ ------------ ------------ ---------
Total Operating Expenses ................................ 2,540 21 95 2,656
------------ ------------ ------------ ---------
Operating Income (Loss) ................................. (2,540) (21) (95) (2,656)
------------ ------------ ------------ ---------
Other Income (Deductions)
Interest income and other, net ........................ 6,404 - - 6,404
Interest expense and related charges .................. 169 - 139 308
Reorganization items, net ............................. - - - -
------------ ------------ ------------ ---------
Total Other Income (Deductions) ......................... 6,573 - 139 6,712
------------ ------------ ------------ ---------
Income (Loss) before Income Taxes and Cumulative Effect
of Accounting Change .................................. 4,033 (21) 44 4,056
-
Income Taxes ............................................ 1,540 (11) 1 1,530
------------ ------------ ------------ ---------
Income (Loss) before Cumulative Effect of
Accounting Change ..................................... 2,493 (10) 43 2,526
Cumulative effect of change in accounting for
postemployment benefits ............................... - - - -
------------ ------------ ------------ ---------
Net Income (Loss) ....................................... 2,493 (10) 43 2,526
============ ============ ============ =========
</TABLE>
(a) TVC includes twelve subsidiaries and TCC includes one subsidiary as noted
in Item 1. Consolidating financial statements of TVC and TCC are presented
herewith in Item 10 Exhibits F1B through F6B and F1C through F6C, respectively.
<PAGE> 86
PAGE 83
F-3A (1 of 1) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia Gas Transmission Corporation and Subsidiary
Consolidating Statement of Income
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating TCO
CTIC TCO Combined Entries Consolidated
---------- ----------- ----------- ------------ ------------
<S> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales .......................................... - (48,377) (48,377) - (48,377)
Transportation ..................................... - 583,220 583,220 - 583,220
Other .............................................. - 170,190 170,190 - 170,190
---------- ----------- ----------- ------------ ------------
Total Operating Revenues ............................. - 705,033 705,033 - 705,033
---------- ----------- ----------- ------------ ------------
Operating Expenses
Products purchased ................................. - (7,124) (7,124) - (7,124)
Operation .......................................... 262 370,577 370,839 - 370,839
Maintenance ........................................ - 43,312 43,312 - 43,312
Depreciation and depletion ......................... - 76,719 76,719 - 76,719
Other taxes ........................................ - 45,553 45,553 - 45,553
---------- ----------- ----------- ------------ ------------
Total Operating Expenses ............................. 262 529,037 529,299 - 529,299
---------- ----------- ----------- ------------ ------------
Operating Income (Loss) .............................. (262) 175,996 175,734 - 175,734
---------- ----------- ----------- ------------ ------------
Other Income (Deductions)
Interest income and other, net ..................... 2,116 61,179 63,295 (36,870) 26,425
Interest expense and related charges ............... - (152,010) (152,010) 2,116 (149,894)
Reorganization items, net .......................... 51,613 (63,401) (11,788) - (11,788)
---------- ----------- ----------- ------------ ------------
Total Other Income (Deductions) ...................... 53,729 (154,232) (100,503) (34,754) (135,257)
---------- ----------- ----------- ------------ ------------
Income (Loss) before Income Taxes .................... 53,467 21,764 75,231 (34,754) 40,477
Income Taxes ......................................... 18,713 (9,517) 9,196 - 9,196
---------- ----------- ----------- ------------ ------------
Income (Loss) Before Cumulative Effect of
Change in Accounting ............................. 34,754 31,281 66,035 (34,754) 31,281
Adoption of SFAS 112 ................................. - (3,119) (3,119) - (3,119)
---------- ----------- ----------- ------------ ------------
Net Income (Loss) .................................... 34,754 28,162 62,916 (34,754) 28,162
========== =========== =========== ============ ============
</TABLE>
<PAGE> 87
PAGE 84
F-3B (1 of 3) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
F-3B F-3B dating TVC
Page 2 Page 3 Combined Entries Consolidated
------------ ---------- ---------- ------------ ------------
<S> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................................ - - - - -
Transportation ....................................... - - - - -
Other ................................................ - - - - -
------------ ---------- ---------- ------------ ------------
Total Operating Revenues ............................... - - - - -
------------ ---------- ---------- ------------ ------------
Operating Expenses
Products purchased ................................... - - - - -
Provision for gas supply charges ..................... - - - - -
Operation ............................................ 2,228 166 2,394 (148) 2,246
Maintenance .......................................... - - - - -
Depreciation and depletion ........................... - - - - -
Other taxes .......................................... 290 4 294 - 294
------------ ---------- ---------- ------------ ------------
Total Operating Expenses ............................... 2,518 170 2,688 (148) 2,540
------------ ---------- ---------- ------------ ------------
Operating Income (Loss) ................................ (2,518) (170) (2,688) 148 (2,540)
------------ ---------- ---------- ------------ ------------
Other Income (Deductions)
Interest income and other, net ....................... 8,394 1,366 9,760 (3,356) 6,404
Interest expense and related charges ................. (507) (307) (814) 983 169
Reorganization items, net ............................ - - - - -
------------ ---------- ---------- ------------ ------------
Total Other Income (Deductions) ........................ 7,887 1,059 8,946 (2,373) 6,573
------------ ---------- ---------- ------------ ------------
Income (Loss) before Income Taxes and Cumulative Effect
of Accounting Change ................................. 5,369 889 6,258 (2,225) 4,033
Income Taxes ........................................... 1,171 369 1,540 - 1,540
------------ ---------- ---------- ------------ ------------
Income (Loss) before Cumulative Effect of
of Accounting Change ................................. 4,198 520 4,718 (2,225) 2,493
Cumulative effect of change in accounting for
postemployment benefits .............................. - - - - -
------------ ---------- ---------- ------------ ------------
Net Income (Loss) ...................................... 4,198 520 4,718 (2,225) 2,493
============ ========== ========== ============ ============
</TABLE>
<PAGE> 88
PAGE 85
F-3B (2 of 3) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
BGC BLC GGC GLC
------------ ---------- ---------- ------------
<S> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................................ - - - -
Transportation ....................................... - - - -
Other ................................................ - - - -
------------ ---------- ---------- ------------
Total Operating Revenues ............................... - - - -
------------ ---------- ---------- ------------
Operating Expenses
Products purchased ................................... - - - -
Provision for gas supply charges ..................... - - - -
Operation ............................................ 41 95 - -
Maintenance .......................................... - - - -
Depreciation and depletion ........................... - - - -
Other taxes .......................................... 62 155 - -
------------ ---------- ---------- ------------
Total Operating Expenses ............................... 103 250 - -
------------ ---------- ---------- ------------
Operating Income (Loss) ................................ (103) (250) - -
------------ ---------- ---------- ------------
Other Income (Deductions)
Interest income and other, net ....................... 82 168 - -
Interest expense and related charges ................. 29 76 (6) (278)
Reorganization items, net ............................ - - - -
------------ ---------- ---------- ------------
Total Other Income (Deductions) ........................ 111 244 (6) (278)
------------ ---------- ---------- ------------
Income (Loss) before Income Taxes and Cumulative Effect
of Accounting Change ................................. 8 (6) (6) (278)
Income Taxes ........................................... 6 1 (3) (155)
------------ ---------- ---------- ------------
Income (Loss) before Cumulative Effect of
of Accounting Change ................................. 2 (7) (3) (123)
Cumulative effect of change in accounting for
postemployment benefits .............................. - - - -
------------ ---------- ---------- ------------
Net Income (Loss) ...................................... 2 (7) (3) (123)
============ ========== ========== ============
</TABLE>
<TABLE>
<CAPTION>
F-3B Page 2
PGC PLC TVC Total
------------ ------------ ----------- ----------
<S> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................................ - - - -
Transportation ....................................... - - - -
Other ................................................ - - - -
------------ ------------ ----------- ----------
Total Operating Revenues ............................... - - - -
------------ ------------ ----------- ----------
Operating Expenses
Products purchased ................................... - - - -
Provision for gas supply charges ..................... - - - -
Operation ............................................ 91 215 1,786 2,228
Maintenance .......................................... - - - -
Depreciation and depletion ........................... - - - -
Other taxes .......................................... 2 4 67 290
------------ ------------ ----------- ----------
Total Operating Expenses ............................... 93 219 1,853 2,518
------------ ------------ ----------- ----------
Operating Income (Loss) ................................ (93) (219) (1,853) (2,518)
------------ ------------ ----------- ----------
Other Income (Deductions)
Interest income and other, net ....................... 1,111 2,593 4,440 8,394
Interest expense and related charges ................. (110) (257) 39 (507)
Reorganization items, net ............................ - - - -
------------ ------------ ----------- ----------
Total Other Income (Deductions) ........................ 1,001 2,336 4,479 7,887
------------ ------------ ----------- ----------
Income (Loss) before Income Taxes and Cumulative Effect
of Accounting Change ................................. 908 2,117 2,626 5,369
Income Taxes ........................................... 382 807 133 1,171
------------ ------------ ----------- ----------
Income (Loss) before Cumulative Effect of
of Accounting Change ................................. 526 1,310 2,493 4,198
Cumulative effect of change in accounting for
postemployment benefits .............................. - - - -
------------ ------------ ----------- ----------
Net Income (Loss) ...................................... 526 1,310 2,493 4,198
============ ============ =========== ==========
</TABLE>
<PAGE> 89
PAGE 86
F-3B (3 of 3) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
VGC VLC RL FC
------------ ---------- ---------- ------------
<S> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................................ - - - -
Transportation ....................................... - - - -
Other ................................................ - - - -
------------ ---------- ---------- ------------
Total Operating Revenues ............................... - - - -
------------ ---------- ---------- ------------
Operating Expenses
Products purchased ................................... - - - -
Provision for gas supply charges ..................... - - - -
Operation ............................................ 12 114 40 -
Maintenance .......................................... - - - -
Depreciation and depletion ........................... - - - -
Other taxes .......................................... 1 2 1 -
------------ ---------- ---------- ------------
Total Operating Expenses ............................... 13 116 41 -
------------ ---------- ---------- ------------
Operating Income (Loss) ................................ (13) (116) (41) -
------------ ---------- ---------- ------------
Other Income (Deductions)
Interest income and other, net ....................... 6 72 1,288 -
Interest expense and related charges ................. 2 19 (263) (65)
Reorganization items, net ............................ - - - -
------------ ---------- ---------- ------------
Total Other Income (Deductions) ........................ 8 91 1,025 (65)
------------ ---------- ---------- ------------
Income (Loss) before Income Taxes and Cumulative Effect
of Accounting Change ................................. (5) (25) 984 (65)
Income Taxes ........................................... 1 (10) 442 (64)
------------ ---------- ---------- ------------
Income (Loss) before Cumulative Effect of
of Accounting Change ................................. (6) (15) 542 (1)
Cumulative effect of change in accounting for
postemployment benefits .............................. - - - -
------------ ---------- ---------- ------------
Net Income (Loss) ...................................... (6) (15) 542 (1)
============ ========== ========== ============
</TABLE>
<TABLE>
<CAPTION>
F-3B Page 3
TVC9 TVC10 Total
------------ ------------ -----------
<S> <C> <C> <C>
Operating Revenues
Gas sales ............................................ - - -
Transportation ....................................... - - -
Other ................................................ - - -
------------ ------------ -----------
Total Operating Revenues ............................... - - -
------------ ------------ -----------
Operating Expenses
Products purchased ................................... - - -
Provision for gas supply charges ..................... - - -
Operation ............................................ - - 166
Maintenance .......................................... - - -
Depreciation and depletion ........................... - - -
Other taxes .......................................... - - 4
------------ ------------ -----------
Total Operating Expenses ............................... - - 170
------------ ------------ -----------
Operating Income (Loss) ................................ - - (170)
------------ ------------ -----------
Other Income (Deductions)
Interest income and other, net ....................... - - 1,366
Interest expense and related charges ................. - - (307)
Reorganization items, net ............................ - - -
------------ ------------ -----------
Total Other Income (Deductions) ........................ - - 1,059
------------ ------------ -----------
Income (Loss) before Income Taxes and Cumulative Effect
of Accounting Change ................................. - - 889
Income Taxes ........................................... - - 369
------------ ------------ -----------
Income (Loss) before Cumulative Effect of
of Accounting Change ................................. - - 520
Cumulative effect of change in accounting for
postemployment benefits .............................. - - -
------------ ------------ -----------
Net Income (Loss) ...................................... - - 520
============ ============ ===========
</TABLE>
<PAGE> 90
PAGE 87
F-3C (1 of 1) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Statement of Income
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating TCC
TGT TCC Combined Entries Consolidated
----------- ----------- ----------- ------------ ------------
<S> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................................ - - - - -
Transportation ....................................... - - - - -
Other ................................................ - - - - -
----------- ----------- ----------- ------------ ------------
Total Operating Revenues ............................... - - - - -
----------- ----------- ----------- ------------ ------------
Operating Expenses
Products purchased ................................... - - - - -
Provision for gas supply charges ..................... - - - - -
Operation ............................................ 16 7 23 - 23
Maintenance .......................................... - - - - -
Depreciation and depletion ........................... - - - - -
Other taxes .......................................... - (2) (2) - (2)
Writedown of inv. in Columbia LNG Corp................ - - - - -
----------- ----------- ----------- ------------ ------------
Total Operating Expenses ............................... 16 5 21 - 21
----------- ----------- ----------- ------------ ------------
Operating Income (Loss) ................................ (16) (5) (21) - (21)
----------- ----------- ----------- ------------ ------------
Other Income (Deductions)
Interest income and other, net ....................... - 2 2 (2) -
Interest expense and related charges ................. (2) - (2) 2 -
Reorganization items, net ............................ - - - - -
----------- ----------- ----------- ------------ ------------
Total Other Income (Deductions) ........................ (2) 2 - - -
----------- ----------- ----------- ------------ ------------
Income (Loss) before Income Taxes ...................... (18) (3) (21) - (21)
Income Taxes ........................................... (10) (1) (11) - (11)
----------- ----------- ----------- ------------ ------------
Net Income (Loss) ...................................... (8) (2) (10) - (10)
=========== =========== =========== ============ ============
</TABLE>
<PAGE> 91
PAGE 88
F-4 (1 of 1) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Income Entries
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
Total Transactions Equity Cost Pool Adjustments
----------- ----------- ----------- ------------ ------------
<S> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ........................................... (83,291) (84,275) - - 984
Transportation ...................................... (282,072) (281,088) - - (984)
Other ............................................... (142,542) (147,611) - - 5,069
----------- ----------- ----------- ------------ ------------
Total Operating Revenues .............................. (507,905) (512,974) - - 5,069
----------- ----------- ----------- ------------ ------------
Operating Expenses
Products purchased .................................. (401,685) (401,685) - - -
Operation ........................................... (198,084) (199,289) - - 1,205
Maintenance ......................................... 0 - - - -
Depreciation and depletion .......................... (248) - - 1,901 (2,149)
Other taxes ......................................... 0 - - - -
----------- ----------- ----------- ------------ ------------
Total Operating Expenses .............................. (600,017) (600,974) - 1,901 (944)
----------- ----------- ----------- ------------ ------------
Operating Income (Loss) ............................... 92,112 88,000 - (1,901) 6,013
----------- ----------- ----------- ------------ ------------
Other Income (Deductions)
Interest income and other, net ...................... (391,856) (211,079) (180,777) - -
Interest expense and related charges ................ 192,849 211,079 - - (18,230)
Reorganization items, net ........................... - - - - -
----------- ----------- ----------- ------------ ------------
Total Other Income (Deductions) ....................... (199,007) - (180,777) - (18,230)
----------- ----------- ----------- ------------ ------------
Income (Loss) before Income Taxes and Cumulative Effect
of Accounting Change ................................ (106,895) 88,000 (180,777) (1,901) (12,217)
Income Taxes .......................................... 25,514 30,866 - (665) (4,687)
----------- ----------- ----------- ------------ ------------
Income (Loss) before Cumulative Effect of
Accounting Change ................................... (132,409) 57,134 (180,777) (1,236) (7,530)
Cumulative effect of change in accounting for
postemployment benefits ............................. (473) - - - (473)
----------- ----------- ----------- ------------ ------------
Net Income (Loss) ..................................... (132,882) 57,134 (180,777) (1,236) (8,003)
=========== =========== =========== ============ ============
</TABLE>
<PAGE> 92
PAGE 89
F-4A (1 of 1) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia Gas Transmission
Corporation and Subsidiary
Consolidating Statement of Income Entries
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
Total Transactions Equity Cost Pool Adjustments
----------- ------------ ----------- ------------ ------------
<S> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................................ - - - - -
Transportation ....................................... - - - - -
Other ................................................ - - - - -
----------- ------------ ----------- ------------ ------------
Total Operating Revenues ............................... - - - - -
----------- ------------ ----------- ------------ ------------
Operating Expenses
Products purchased ................................... - - - - -
Provision for gas supply charges ..................... - - - - -
Operation ............................................ - - - - -
Maintenance .......................................... - - - - -
Depreciation and depletion ........................... - - - - -
Other taxes .......................................... - - - - -
Writedown of inv. in Columbia LNG Corp................ - - - - -
----------- ------------ ----------- ------------ ------------
Total Operating Expenses ............................... - - - - -
----------- ------------ ----------- ------------ ------------
Operating Income (Loss) ................................ - - - - -
----------- ------------ ----------- ------------ ------------
Other Income (Deductions)
Interest income and other, net ....................... (36,870) (2,116) (34,754) - -
Interest expense and related charges ................. 2,116 2,116 - - -
Reorganization items, net ............................ - - - - -
----------- ------------ ----------- ------------ ------------
Total Other Income (Deductions) ........................ (34,754) - (34,754) - -
----------- ------------ ----------- ------------ ------------
Income (Loss) before Income Taxes ...................... (34,754) - (34,754) - -
Income Taxes ........................................... - - - - -
----------- ------------ ----------- ------------ ------------
Income (Loss) Before Cumulative Effect of
Change in Accounting ............................... (34,754) - (34,754) - -
Adoption of SFAS 112 ................................... - - - - -
----------- ------------ ----------- ------------ ------------
Net Income (Loss) ...................................... (34,754) - (34,754) - -
=========== ============ =========== ============ ============
</TABLE>
<PAGE> 93
PAGE 90
F-4B (1 of 1) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Entries for Statements of Income Entries
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
Total Transactions Equity Cost Pool Adjustments
----------- ------------ ----------- ------------ ------------
<S> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................................ - - - - -
Transportation ....................................... - - - - -
Other ................................................ - - - - -
----------- ------------ ----------- ------------ ------------
Total Operating Revenues ............................... - - - - -
----------- ------------ ----------- ------------ ------------
Operating Expenses
Products purchased ................................... - - - - -
Provision for gas supply charges ..................... - - - - -
Operation ............................................ (148) - (148) - -
Maintenance .......................................... - - - - -
Depreciation and depletion ........................... - - - - -
Other taxes .......................................... - - - - -
----------- ------------ ----------- ------------ ------------
Total Operating Expenses ............................... (148) - (148) - -
----------- ------------ ----------- ------------ ------------
Operating Income (Loss) ................................ 148 - 148 - -
----------- ------------ ----------- ------------ ------------
Other Income (Deductions)
Interest income and other, net ....................... (3,356) (983) (2,373) - -
Interest expense and related charges ................. 983 983 - - -
Reorganization items, net ............................ - - - - -
----------- ------------ ----------- ------------ ------------
Total Other Income (Deductions) ........................ (2,373) - (2,373) - -
----------- ------------ ----------- ------------ ------------
Income (Loss) before Income Taxes and Cumulative Effect
of Accounting Change ................................. (2,225) - (2,225) - -
Income Taxes ........................................... - - - - -
----------- ------------ ----------- ------------ ------------
Income (Loss) before Cumulative Effect of
of Accounting Change ................................. (2,225) - (2,225) - -
Cumulative effect of change in accounting for
postemployment benefits .............................. - - - - -
----------- ------------ ----------- ------------ ------------
Net Income (Loss) ...................................... (2,225) - (2,225) - -
=========== ============ =========== ============ ============
</TABLE>
<PAGE> 94
PAGE 91
F-4C (1 of 1) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Statement of Income Entries
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 3
Entry No. 1 Entry No. 2 Adjust to
Eliminate Eliminate Consoli- Entry No. 4
Intercompany Subsidiary dated Full Elimination/
Total Transactions Equity Cost Pool Adjustments
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales .......................................... - - - - -
Transportation ..................................... - - - - -
Other .............................................. - - - - -
------------ ------------ ------------ ------------ ------------
Total Operating Revenues ............................. - - - - -
------------ ------------ ------------ ------------ ------------
Operating Expenses
Products purchased ................................. - - - - -
Provision for gas supply charges ................... - - - - -
Operation .......................................... - - - - -
Maintenance ........................................ - - - - -
Depreciation and depletion ......................... - - - - -
Other taxes ........................................ - - - - -
Writedown of inv. in Columbia LNG Corp.............. - - - - -
------------ ------------ ------------ ------------ ------------
Total Operating Expenses ............................. - - - - -
------------ ------------ ------------ ------------ ------------
Operating Income (Loss) .............................. - - - - -
------------ ------------ ------------ ------------ ------------
Other Income (Deductions)
Interest income and other, net ..................... (2) (10) 8 - -
Interest expense and related charges ............... 2 2 - - -
Reorganization items, net .......................... - - - - -
------------ ------------ ------------ ------------ ------------
Total Other Income (Deductions) ...................... - (8) 8 - -
------------ ------------ ------------ ------------ ------------
Income (Loss) before Income Taxes .................... - (8) 8 - -
Income Taxes ......................................... - 0 - - -
------------ ------------ ------------ ------------ ------------
Net Income (Loss) .................................... - (8) 8 - -
============ ============ ============ ============ ============
</TABLE>
<PAGE> 95
PAGE 92
F-5 (1 of 5) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 F-5 F-5 F-5
Page 2 Page 3 Page 4 Page 5
------------ ---------- ---------- ----------
<S> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ....................... 674,667 223,437 572,967 16,375
Common stock issued -
Subsidiaries .................................... - - - 500
Leveraged employee stock
ownership plan (LESOP) ........................ - - - -
Dividend reinvestment plan ...................... - - - -
Long-term incentive plan ........................ - - 41 -
Public offering ................................. - - - -
Recapitalization -
Reduction in par value........................... (89,669) - - -
Adjustments due to reconsolidation of subsidiary - - - 3,680
------------ ---------- ---------- ----------
Balance at end of year ............................. 584,998 223,437 573,008 20,555
------------ ---------- ---------- ----------
Additional Paid in Capital
Balance at beginning of year ....................... 98,013 4,330 602,157 43,377
Common stock issued -
Subsidiaries .................................... - - 12,000 -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - -
Dividend reinvestment plan ...................... - - - -
Long-term incentive plan ........................ - - 69 -
Public offering ................................. - - - -
Other ........................................... - - - -
Recapitalization -
Debt issuance.................................... 89,669 - - -
Dividends paid................................... (67,000) - - -
Capital contributions............................ 62,000 - - -
Adjustments due to reconsolidation of subsidiary .. - - - 132,933
------------ ---------- ---------- ----------
Balance at end of year ............................. 182,682 4,330 614,226 176,310
------------ ---------- ---------- ----------
Retained Earnings
Balance at beginning of year ....................... (873,357) 382,377 142,430 (24,329)
Net income ........................................ 67,765 56,189 247,049 2,526
Common stock dividends -
CG .............................................. - - - -
Subsidiaries (to CG) ............................ 25,162 27,089 5,476 -
Other ............................................. 1 - 1 -
Adjustments due to reconsolidation of subsidiary .. - - - (123,701)
------------ ---------- ---------- ----------
Balance at end of year ............................. (830,753) 411,477 384,004 (145,504)
------------ ---------- ---------- ----------
Unearned Employee Compensation
Balance at beginning of year ....................... - - (69,966) -
Adjustment ........................................ - - - -
------------ ---------- ---------- ----------
Balance at end of year ............................. - - (69,966) -
------------ ---------- ---------- ----------
TOTAL COMMON STOCK EQUITY (63,073) 639,244 1,501,272 51,361
============ ========== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
Consoli-
dating Consoli-
Combined Entries dated
---------- ---------- ------------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ....................... 1,487,446 (981,854) 505,592
Common stock issued -
Subsidiaries .................................... 500 (500) -
Leveraged employee stock
ownership plan (LESOP) ........................ - - -
Dividend reinvestment plan ...................... - - -
Long-term incentive plan ........................ 41 - 41
Public offering ................................. - - -
Recapitalization -
Reduction in par value........................... (89,669) 89,669 -
Adjustments due to reconsolidation of subsidiary 3,680 (3,680) -
---------- ---------- ------------
Balance at end of year ............................. 1,401,998 (896,365) 505,633
---------- ---------- ------------
Additional Paid in Capital
Balance at beginning of year ....................... 747,877 (146,118) 601,759
Common stock issued -
Subsidiaries .................................... 12,000 (12,000) -
Leveraged employee stock
ownership plan (LESOP) ........................ - - -
Dividend reinvestment plan ...................... - - -
Long-term incentive plan ........................ 69 - 69
Public offering ................................. - - -
Other ........................................... - - -
Recapitalization -
Debt issuance.................................... 89,669 (89,669) -
Dividends paid................................... (67,000) 67,000 -
Capital contributions............................ 62,000 (62,000) -
Adjustments due to reconsolidation of subsidiary .. 132,933 (132,933) -
---------- ---------- ------------
Balance at end of year ............................. 977,548 (375,720) 601,828
---------- ---------- ------------
Retained Earnings
Balance at beginning of year ....................... (372,879) 562,828 189,949
Net income ........................................ 373,529 (132,882) 240,647
Common stock dividends -
CG .............................................. - - -
Subsidiaries (to CG) ............................ 57,727 (57,727) -
Other ............................................. 2 (2) -
Adjustments due to reconsolidation of subsidiary .. (123,701) 123,701 -
---------- ---------- ------------
Balance at end of year ............................. (180,776) 611,372 430,596
---------- ---------- ------------
Unearned Employee Compensation
Balance at beginning of year ....................... (69,966) - (69,966)
Adjustment ........................................ - - -
---------- ---------- ------------
Balance at end of year ............................. (69,966) - (69,966)
---------- ---------- ------------
TOTAL COMMON STOCK EQUITY 2,128,804 (660,713) 1,468,091
========== ========== ============
</TABLE>
<PAGE> 96
PAGE 93
F-5 (2 of 5) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 Page 2
CNR CGD TCO(a) CGT CKY Total
------------ ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ....................... 125,716 141,912 241,784 149,449 15,806 674,667
Common stock issued -
Subsidiaries .................................... - - - - - -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - - -
Dividend reinvestment plan ...................... - - - - - -
Long-term incentive plan ........................ - - - - - -
Public offering ................................. - - - - - -
Recapitalization -
Reduction in par value........................... - - - (89,669) - (89,669)
Adjustments due to reconsolidation of subsidiary - - - - - -
------------ ---------- ---------- ---------- ---------- ----------
Balance at end of year ............................. 125,716 141,912 241,784 59,780 15,806 584,998
------------ ---------- ---------- ---------- ---------- ----------
Additional Paid in Capital
Balance at beginning of year ....................... - 27,550 70,289 - 174 98,013
Common stock issued -
Subsidiaries .................................... - - - - - -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - - -
Dividend reinvestment plan ...................... - - - - - -
Long-term incentive plan ........................ - - - - - -
Public offering ................................. - - - - - -
Other ........................................... - - - - - -
Recapitalization -
Debt issuance.................................... - - - 89,669 - 89,669
Dividends paid................................... - - - (67,000) - (67,000)
Capital contributions............................ - 62,000 - - - 62,000
Adjustments due to reconsolidation of subsidiary - - - - - -
------------ ---------- ---------- ---------- ---------- ----------
Balance at end of year ............................. 0 89,550 70,289 22,669 174 182,682
------------ ---------- ---------- ---------- ---------- ----------
Retained Earnings
Balance at beginning of year ....................... 46,033 (127,329) (829,294) 6,661 30,572 (873,357)
Net income ........................................ 13,319 (137) 28,162 22,580 3,841 67,765
Common stock dividends -
CG .............................................. - - - - - -
Subsidiaries (to CG) ............................ 10,309 - - 14,347 506 25,162
Other ............................................. - 1 - - - 1
Adjustments due to reconsolidation of subsidiary - - - - - -
------------ ---------- ---------- ---------- ---------- ----------
Balance at end of year ............................. 49,043 (127,465) (801,132) 14,894 33,907 (830,753)
------------ ---------- ---------- ---------- ---------- ----------
Unearned Employee Compensation
Balance at beginning of year ....................... - - - - - -
Adjustment ........................................ - - - - - -
------------ ---------- ---------- ---------- ---------- ----------
Balance at end of year ............................. - - - - - -
------------ ---------- ---------- ---------- ---------- ----------
TOTAL COMMON STOCK EQUITY 174,759 103,997 (489,059) 97,343 49,887 (63,073)
============ ========== ========== ========== ========== ==========
</TABLE>
(a) TCO includes one subsidiary as noted in Item 1. Consolidating financial
statements of TCO are presented herewith in Item 10 Exhibits F1A through F6A.
<PAGE> 97
PAGE 94
F-5 (3 of 5) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 Page 3
COH CMD CPA COS CES Total
------------ ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ....................... 119,240 7,092 68,628 24,305 4,172 223,437
Common stock issued -
Subsidiaries .................................... - - - - - -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - - -
Dividend reinvestment plan ...................... - - - - - -
Long-term incentive plan ........................ - - - - - -
Public offering ................................. - - - - - -
Recapitalization -
Reduction in par value........................... - - - - - -
Adjustments due to reconsolidation of subsidiary - - - - - -
------------ ---------- ---------- ---------- ---------- ----------
Balance at end of year ............................. 119,240 7,092 68,628 24,305 4,172 223,437
------------ ---------- ---------- ---------- ---------- ----------
Additional Paid in Capital
Balance at beginning of year ....................... - - - 2,969 1,361 4,330
Common stock issued -
Subsidiaries .................................... - - - - - -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - - -
Dividend reinvestment plan ...................... - - - - - -
Long-term incentive plan ........................ - - - - - -
Public offering ................................. - - - - - -
Other ........................................... - - - - - -
Recapitalization -
Debt issuance.................................... - - - - - -
Dividends paid................................... - - - - - -
Capital contributions............................ - - - - - -
Adjustments due to reconsolidation of subsidiary - - - - - -
------------ ---------- ---------- ---------- ---------- ----------
Balance at end of year ............................. - - - 2,969 1,361 4,330
------------ ---------- ---------- ---------- ---------- ----------
Retained Earnings
Balance at beginning of year ....................... 228,402 8,916 101,633 37,627 5,799 382,377
Net income ........................................ 32,546 1,253 16,218 4,674 1,498 56,189
Common stock dividends -
CG .............................................. - - - - - -
Subsidiaries (to CG) ............................ 16,694 199 9,196 - 1,000 27,089
Other ............................................. (1) - 1 - - -
Adjustments due to reconsolidation of subsidiary - - - - - -
------------ ---------- ---------- ---------- ---------- ----------
Balance at end of year ............................. 244,253 9,970 108,656 42,301 6,297 411,477
------------ ---------- ---------- ---------- ---------- ----------
Unearned Employee Compensation
Balance at beginning of year ....................... - - - - - -
Adjustment ........................................ - - - - - -
------------ ---------- ---------- ---------- ---------- ----------
Balance at end of year ............................. - - - - - -
------------ ---------- ---------- ---------- ---------- ----------
TOTAL COMMON STOCK EQUITY 363,493 17,062 177,284 69,575 11,830 639,244
============ ========== ========== ========== ========== ==========
</TABLE>
<PAGE> 98
PAGE 95
F-5 (4 of 5) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 4
CG CS CGC CPC CPI Total
------------ ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ....................... 505,592 13,000 48,475 3,900 2,000 572,967
Common stock issued -
Subsidiaries .................................... - - - - - -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - - -
Dividend reinvestment plan ...................... - - - - - -
Long-term incentive plan ........................ 41 - - - - 41
Public offering ................................. - - - - - -
Recapitalization -
Reduction in par value........................... - - - - - -
Adjustments due to reconsolidation of subsidiary - - - - - -
------------ ---------- ---------- ---------- ---------- ----------
Balance at end of year ............................. 505,633 13,000 48,475 3,900 2,000 573,008
------------ ---------- ---------- ---------- ---------- ----------
Additional Paid in Capital
Balance at beginning of year ....................... 601,759 - - - 398 602,157
Common stock issued -
Subsidiaries .................................... - - 12,000 - - 12,000
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - - 0
Dividend reinvestment plan ...................... - - - - - 0
Long-term incentive plan ........................ 69 - - - - 69
Public offering ................................. - - - - - 0
Other ........................................... - - - - - 0
Recapitalization -
Debt issuance.................................... - - - - - 0
Dividends paid................................... - - - - - 0
Capital contributions............................ - - - - - 0
Adjustments due to reconsolidation of subsidiary - - - - - 0
------------ ---------- ---------- ---------- ---------- ----------
Balance at end of year ........................ 601,828 - 12,000 - 398 614,226
------------ ---------- ---------- ---------- ---------- ----------
Retained Earnings
Balance at beginning of year ....................... 189,949 155 (53,189) (286) 5,801 142,430
Net income ........................................ 240,647 2,142 388 593 3,279 247,049
Common stock dividends -
CG .............................................. - - - - - -
Subsidiaries (to CG) ............................ - 2,119 - 213 3,144 5,476
Other ............................................. - 1 - - - 1
Adjustments due to reconsolidation of subsidiary - - - - - -
------------ ---------- ---------- ---------- ---------- ----------
Balance at end of year ............................. 430,596 179 (52,801) 94 5,936 384,004
------------ ---------- ---------- ---------- ---------- ----------
Unearned Employee Compensation
Balance at beginning of year ....................... (69,966) - - - - (69,966)
Adjustment ........................................ - - - - - -
------------ ---------- ---------- ---------- ---------- ----------
Balance at end of year ............................. (69,966) - - - - (69,966)
------------ ---------- ---------- ---------- ---------- ----------
TOTAL COMMON STOCK EQUITY 1,468,091 13,179 7,674 3,994 8,334 1,501,272
============ ========== ========== ========== ========== ==========
</TABLE>
<PAGE> 99
PAGE 96
F-5 (5 of 5) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 Page 5
TVC (a) TCC (a) CAT CLG (b) Total
------------ ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ....................... 15,293 1,000 82 - 16,375
Common stock issued -
Subsidiaries .................................... - 500 - - 500
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - -
Dividend reinvestment plan ...................... - - - - -
Long-term incentive plan ........................ - - - - -
Public offering ................................. - - - - -
Recapitalization -
Reduction in par value........................... - - - - -
Adjustments due to reconsolidation of subsidiary - - - 3,680 3,680
------------ ---------- ---------- ---------- ----------
Balance at end of year ............................. 15,293 1,500 82 3,680 20,555
------------ ---------- ---------- ---------- ----------
Additional Paid in Capital
Balance at beginning of year ....................... 42,802 575 - - 43,377
Common stock issued -
Subsidiaries .................................... - - - - -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - -
Dividend reinvestment plan ...................... - - - - -
Long-term incentive plan ........................ - - - - -
Public offering ................................. - - - - -
Other ........................................... - - - - -
Recapitalization -
Debt issuance.................................... - - - - -
Dividends paid................................... - - - - -
Capital contributions............................ - - - - -
Adjustments due to reconsolidation of subsidiary - - - 132,933 132,933
------------ ---------- ---------- ---------- ----------
Balance at end of year ............................. 42,802 575 - 132,933 176,310
------------ ---------- ---------- ---------- ----------
Retained Earnings
Balance at beginning of year ....................... (23,241) (243) (845) - (24,329)
Net income ........................................ 2,493 (10) 43 - 2,526
Common stock dividends -
CG .............................................. - - - - -
Subsidiaries (to CG) ............................ - - - - -
Other ............................................. - - - - -
Adjustments due to reconsolidation of subsidiary - - - (123,701) (123,701)
------------ ---------- ---------- ---------- ----------
Balance at end of year ............................. (20,748) (253) (802) (123,701) (145,504)
------------ ---------- ---------- ---------- ----------
Unearned Employee Compensation
Balance at beginning of year ....................... - - - - -
Adjustment ........................................ - - - - -
------------ ---------- ---------- ---------- ----------
Balance at end of year ............................. - - - - -
------------ ---------- ---------- ---------- ----------
TOTAL COMMON STOCK EQUITY 37,347 1,822 (720) 12,912 51,361
============ ========== ========== ========== ==========
</TABLE>
(a) TVC includes twelve subsidiaries and TCC includes one subsidiary as noted
in Item 1. Consolidating financial statements of TVC and TCC are presented
herewith in Item 10 Exhibits F1B through F6B and F1C through F6C, respectively.
(b) CLG includes one subsidiary as noted in Item 1. Consolidating financial
statements of CLG are presented herewith in Item 10 Exhibits F1D through F6D.
<PAGE> 100
PAGE 97
F-5A (1 of 1) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia Gas Transmission Corporation and Subsidiary
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating TCO
CTIC TCO Combined Entries Consolidated
----------- ------------ ----------- ------------ ------------
<S> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... 59 241,784 241,843 (59) 241,784
Common stock issued -
Subsidiaries .................................... (84,492) - (84,492) 84,492 -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - -
Dividend reinvestment plan ...................... - - - - -
Long-term incentive plan ........................ - - - - -
Public offering ................................. - - - - -
Recapitalization -
Reduction in par value .......................... - - - - -
Adjustments due to reconsolidation of subsidiary .. - - - - -
----------- ------------ ----------- ------------ ------------
Balance at end of year ............................ (84,433) 241,784 157,351 84,433 241,784
----------- ------------ ----------- ------------ ------------
Additional Paid in Capital
Balance at beginning of year ...................... 1,178,941 70,289 1,249,230 (1,178,941) 70,289
Common stcok issued -
Subsidiaries .................................... 158,492 - 158,492 (158,492) -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - -
Dividend reinvestment plan ...................... - - - - -
Long-term incentive plan ........................ - - - - -
Public offering ................................. - - - - -
Other ........................................... - - - - -
Recapitalization -
Debt issuance ................................... - - - - -
Dividends paid .................................. - - - - -
Capital contributions ........................... - - - - -
----------- ------------ ----------- ------------ ------------
Balance at end of year ............................ 1,337,433 70,289 1,407,722 (1,337,433) 70,289
----------- ------------ ----------- ------------ ------------
Retained Earnings
Balance at beginning of year ...................... 34,201 (829,294) (795,093) (34,201) (829,294)
Net income ........................................ 34,754 28,162 62,916 (34,754) 28,162
Common stock dividends -
CG .............................................. - - - - -
Subsidiaries (to CG) ............................ - - - - -
Other ............................................. - - - - -
Adjustments due to reconsolidation of subsidiary .. - - - - -
----------- ------------ ----------- ------------ ------------
Balance at end of year ............................ 68,955 (801,132) (732,177) (68,955) (801,132)
----------- ------------ ----------- ------------ ------------
Unearned Employee Compensation
Balance at beginning of year ...................... - - - - -
Adjustment ........................................ - - - - -
Balance at end of year ............................ - - - - -
----------- ------------ ----------- ------------ ------------
TOTAL COMMON STOCK EQUITY ........................... 1,321,955 (489,059) 832,896 (1,321,955) (489,059)
=========== ============ =========== ============ ============
</TABLE>
<PAGE> 101
PAGE 98
F-5B (1 of 3) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
F-5B F-5B dating TVC
Page 2 Page 3 Combined Entries Consolidated
---------- ---------- ---------- ---------- ------------
<S> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... 15,460 203 15,663 (370) 15,293
Common stock issued - - - - - -
Subsidiaries .................................... - - - - -
Leveraged employee stock - - - - -
ownership plan (LESOP) ........................ - - - - -
Dividend reinvestment plan ...................... - - - - -
Long-term incentive plan ........................ - - - - -
Public offering ................................. - - - - -
Recapitalization -
Reduction in par value .......................... - - - - -
Adjustments due to reconsolidation of subsidiary .. - - - - -
---------- ---------- ---------- ---------- ------------
Balance at end of year ............................ 15,460 203 15,663 (370) 15,293
---------- ---------- ---------- ---------- ------------
Additional Paid in Capital
Balance at beginning of year ...................... 52,296 7,826 60,122 (17,320) 42,802
Common stock issued -
Subsidiaries .................................... - - - - -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - -
Dividend reinvestment plan ...................... - - - - -
Long-term incentive plan ........................ - - - - -
Public offering ................................. - - - - -
Other ........................................... - - - - -
Recapitalization -
Debt issuance ................................... - - - - -
Dividends paid .................................. - - - - -
Capital contributions ........................... - - - - -
---------- ---------- ---------- ---------- ------------
Balance at end of year ............................ 52,296 7,826 60,122 (17,320) 42,802
---------- ---------- ---------- ---------- ------------
Retained Earnings
Balance at beginning of year ...................... (24,997) (1,260) (26,257) 3,016 (23,241)
Net income ........................................ 4,198 520 4,718 (2,225) 2,493
Common stock dividends - - - - - -
CG .............................................. - - - - -
Subsidiaries (to CG) ............................ - - - - -
Other ............................................. - - - - -
Adjustments due to reconsolidation of subsidiary .. - - - - -
---------- ---------- ---------- ---------- ------------
Balance at end of year ............................ (20,799) (740) (21,539) 791 (20,748)
---------- ---------- ---------- ---------- ------------
Unearned Employee Compensation
Balance at beginning of year ...................... - - - - -
Adjustment ...................................... - - - - -
Balance at end of year ............................ - - - - -
---------- ---------- ---------- ---------- ------------
TOTAL COMMON STOCK EQUITY 46,957 7,289 54,246 (16,899) 37,347
========== ========== ========== ========== ============
</TABLE>
<PAGE> 102
PAGE 99
F-5B (2 of 3) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
BGC BLC GGC GLC
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... 3 3 10 75
Common stock issued - - - - -
Subsidiaries .................................... - - - -
Leveraged employee stock - - - -
ownership plan (LESOP) ........................ - - - -
Dividend reinvestment plan ...................... - - - -
Long-term incentive plan ........................ - - - -
Public offering ................................. - - - -
Recapitalization -
Reduction in par value .......................... - - - -
Adjustments due to reconsolidation of subsidiary .. - - - -
---------- ---------- ---------- ----------
Balance at end of year ............................ 3 3 10 75
---------- ---------- ---------- ----------
Additional Paid in Capital
Balance at beginning of year ...................... 2,847 6,647 - -
Common stock issued -
Subsidiaries .................................... - - - -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - -
Dividend reinvestment plan ...................... - - - -
Long-term incentive plan ........................ - - - -
Public offering ................................. - - - -
Other ........................................... - - - -
Recapitalization -
Debt issuance ................................... - - - -
Dividends paid .................................. - - - -
Capital contributions ........................... - - - -
---------- ---------- ---------- ----------
Balance at end of year ............................ 2,847 6,647 - -
---------- ---------- ---------- ----------
Retained Earnings
Balance at beginning of year ...................... (52) (146) (104) (4,807)
Net income ........................................ 2 (7) (3) (123)
Common stock dividends - - - - -
CG .............................................. - - - -
Subsidiaries (to CG) ............................ - - - -
Other ............................................. - - - -
Adjustments due to reconsolidation of subsidiary .. - - - -
---------- ---------- ---------- ----------
Balance at end of year ............................ (50) (153) (107) (4,930)
---------- ---------- ---------- ----------
Unearned Employee Compensation
Balance at beginning of year ...................... - - - -
Adjustment ...................................... - - - -
Balance at end of year ............................ - - - -
---------- ---------- ---------- ----------
TOTAL COMMON STOCK EQUITY 2,800 6,497 (97) (4,855)
========== ========== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
F-5B Page 2
PGC PLC TVC Total
------------ ------------ ---------- ----------
<S> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... 75 1 15,293 15,460
Common stock issued - - - - -
Subsidiaries .................................... - - - -
Leveraged employee stock - - - -
ownership plan (LESOP) ........................ - - - -
Dividend reinvestment plan ...................... - - - -
Long-term incentive plan ........................ - - - -
Public offering ................................. - - - -
Recapitalization -
Reduction in par value .......................... - - - -
Adjustments due to reconsolidation of subsidiary .. - - - -
------------ ------------ ---------- ----------
Balance at end of year ............................ 75 1 15,293 15,460
------------ ------------ ---------- ----------
Additional Paid in Capital
Balance at beginning of year ...................... - - 42,802 52,296
Common stock issued -
Subsidiaries .................................... - - - -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - -
Dividend reinvestment plan ...................... - - - -
Long-term incentive plan ........................ - - - -
Public offering ................................. - - - -
Other ........................................... - - - -
Recapitalization -
Debt issuance ................................... - - - -
Dividends paid .................................. - - - -
Capital contributions ........................... - - - -
------------ ------------ ---------- ----------
Balance at end of year ............................ - - 42,802 52,296
------------ ------------ ---------- ----------
Retained Earnings
Balance at beginning of year ...................... 971 2,382 (23,241) (24,997)
Net income ........................................ 526 1,310 2,493 4,198
Common stock dividends - - - - -
CG .............................................. - - - -
Subsidiaries (to CG) ............................ - - - -
Other ............................................. - - - -
Adjustments due to reconsolidation of subsidiary .. - - - -
------------ ------------ ---------- ----------
Balance at end of year ............................ 1,497 3,692 (20,748) (20,799)
------------ ------------ ---------- ----------
Unearned Employee Compensation
Balance at beginning of year ...................... - - - -
Adjustment ...................................... - - - -
Balance at end of year ............................ - - - -
------------ ------------ ---------- ----------
TOTAL COMMON STOCK EQUITY 1,572 3,693 37,347 46,957
============ ============ ========== ==========
</TABLE>
<PAGE> 103
PAGE 100
F-5B (3 of 3) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
VGC VLC RL FC
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... 68 60 - 75
Common stock issued - - - - -
Subsidiaries .................................... - - - -
Leveraged employee stock - - - -
ownership plan (LESOP) ........................ - - - -
Dividend reinvestment plan ...................... - - - -
Long-term incentive plan ........................ - - - -
Public offering ................................. - - - -
Recapitalization -
Reduction in par value .......................... - - - -
Adjustments due to reconsolidation of subsidiary .. - - - -
---------- ---------- ---------- ----------
Balance at end of year ............................ 68 60 - 75
---------- ---------- ---------- ----------
Additional Paid in Capital
Balance at beginning of year ...................... 825 7,001 - -
Common stock issued -
Subsidiaries .................................... - - - -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - -
Dividend reinvestment plan ...................... - - - -
Long-term incentive plan ........................ - - - -
Public offering ................................. - - - -
Other ........................................... - - - -
Recapitalization -
Debt issuance ................................... - - - -
Dividends paid .................................. - - - -
Capital contributions ........................... - - - -
---------- ---------- ---------- ----------
Balance at end of year ............................ 825 7,001 - -
---------- ---------- ---------- ----------
Retained Earnings
Balance at beginning of year ...................... (126) (268) 95 (961)
Net income ........................................ (6) (15) 542 (1)
Common stock dividends -
CG .............................................. - - - -
Subsidiaries (to CG) ............................ - - - -
Other ............................................. - - - -
Adjustments due to reconsolidation of subsidiary .. - - - -
---------- ---------- ---------- ----------
Balance at end of year ............................ (132) (283) 637 (962)
---------- ---------- ---------- ----------
Unearned Employee Compensation
Balance at beginning of year ...................... - - - -
Adjustment ........................................ - - - -
Balance at end of year ............................ - - - -
---------- ---------- ---------- ----------
TOTAL COMMON STOCK EQUITY 761 6,778 637 (887)
========== ========== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
F-5B Page 3
TVC9 TVC10 Total
------------ ------------ ----------
<S> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... - - 203
Common stock issued - - - -
Subsidiaries .................................... - - -
Leveraged employee stock - - -
ownership plan (LESOP) ........................ - - -
Dividend reinvestment plan ...................... - - -
Long-term incentive plan ........................ - - -
Public offering ................................. - - -
Recapitalization -
Reduction in par value .......................... - - -
Adjustments due to reconsolidation of subsidiary .. - - -
------------ ------------ ----------
Balance at end of year ............................ - - 203
------------ ------------ ----------
Additional Paid in Capital
Balance at beginning of year ...................... - - 7,826
Common stock issued -
Subsidiaries .................................... - - -
Leveraged employee stock
ownership plan (LESOP) ........................ - - -
Dividend reinvestment plan ...................... - - -
Long-term incentive plan ........................ - - -
Public offering ................................. - - -
Other ........................................... - - -
Recapitalization -
Debt issuance ................................... - - -
Dividends paid .................................. - - -
Capital contributions ........................... - - -
------------ ------------ ----------
Balance at end of year ............................ - - 7,826
------------ ------------ ----------
Retained Earnings
Balance at beginning of year ...................... - - (1,260)
Net income ........................................ - - 520
Common stock dividends -
CG .............................................. - - -
Subsidiaries (to CG) ............................ - - -
Other ............................................. - - -
Adjustments due to reconsolidation of subsidiary .. - - -
------------ ------------ ----------
Balance at end of year ............................ - - (740)
------------ ------------ ----------
Unearned Employee Compensation
Balance at beginning of year ...................... - - -
Adjustment ........................................ - - -
Balance at end of year ............................ - - -
------------ ------------ ----------
TOTAL COMMON STOCK EQUITY - - 7,289
============ ============ ==========
</TABLE>
<PAGE> 104
PAGE 101
F-5C (1 of 1) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating TCC
TGT TCC Combined Entries Consolidated
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... 1,500 1,000 2,500 (1,500) 1,000
Common stock issued -
Subsidiaries .................................... 500 500 1,000 (500) 500
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - -
Dividend reinvestment plan ...................... - - - - -
Long-term incentive plan ........................ - - - - -
Public offering ................................. - - - - -
Recapitalization -
Reduction in par value .......................... - - - - -
Adjustments due to reconsolidation of subsidiary .. - - - - -
------------ ------------ ------------ ------------ ------------
Balance at end of year ............................ 2,000 1,500 3,500 (2,000) 1,500
------------ ------------ ------------ ------------ ------------
Additional Paid in Capital
Balance at beginning of year ...................... - 575 575 - 575
Common stcok issued -
Subsidiaries .................................... - - - - -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - -
Dividend reinvestment plan ...................... - - - - -
Long-term incentive plan ........................ - - - - -
Public offering ................................. - - - - -
Other ........................................... - - - - -
Recapitalization -
Debt issuance ................................... - - - - -
Dividends paid .................................. - - - - -
Capital contributions ........................... - - - - -
Adjustments due to reconsolidation of subsidiary .. - - - - -
------------ ------------ ------------ ------------ ------------
Balance at end of year ............................ - 575 575 - 575
------------ ------------ ------------ ------------ ------------
Retained Earnings
Balance at beginning of year ...................... (232) (243) (475) 232 (243)
Net income ........................................ (8) (10) (18) 8 (10)
Common stock dividends -
CG .............................................. - - - - -
Subsidiaries (to CG) ............................ - - - - -
Other ............................................. - - - - -
Adjustments due to reconsolidation of subsidiary .. - - - - -
------------ ------------ ------------ ------------ ------------
Balance at end of year ............................ (240) (253) (493) 240 (253)
------------ ------------ ------------ ------------ ------------
Unearned Employee Compensation
Balance at beginning of year ...................... - - - - -
Adjustment ........................................ - - - - -
------------ ------------ ------------ ------------ ------------
Balance at end of year ............................ - - - - -
------------ ------------ ------------ ------------ ------------
TOTAL COMMON STOCK EQUITY ........................... 1,760 1,822 3,582 (1,760) 1,822
============ ============ ============ ============ ============
</TABLE>
<PAGE> 105
PAGE 102
F-5D (1 of 1) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1994
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CLG
CLNG CLG Combined Entries Consolidated
------------ ----------- ---------- ---------- -------------
<S> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year ...................... - - - - -
Common stock issued -
Subsidiaries .................................... 1 - 1 (1) -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - -
Dividend reinvestment plan ...................... - - - - -
Long-term incentive plan ........................ - - - - -
Public offering ................................. - - - - -
Recapitalization -
Reduction in par value .......................... - - - - -
Adjustments due to reconsolidation of subsidiary .. - 3,680 3,680 - 3,680
------------ ----------- ---------- ---------- -------------
Balance at end of year ............................ 1 3,680 3,681 (1) 3,680
------------ ----------- ---------- ---------- -------------
Additional Paid in Capital
Balance at beginning of year ...................... - - - - -
Common stock issued -
Subsidiaries .................................... - - - - -
Leveraged employee stock
ownership plan (LESOP) ........................ - - - - -
Dividend reinvestment plan ...................... - - - - -
Long-term incentive plan ........................ - - - - -
Public offering ................................. - - - - -
Other ........................................... - - - - -
Recapitalization -
Debt issuance ................................... - - - - -
Dividends paid .................................. - - - - -
Capital contributions ........................... - - - - -
Adjustments due to reconsolidation of subsidiary .. - 132,933 132,933 - 132,933
------------ ----------- ---------- ---------- -------------
Balance at end of year ............................ - 132,933 132,933 - 132,933
------------ ----------- ---------- ---------- -------------
Retained Earnings
Balance at beginning of year ...................... - - - - -
Net income ........................................ (1) - (1) 1 -
Common stock dividends -
CG .............................................. - - - - -
Subsidiaries (to CG) ............................ - - - - -
Other ............................................. - - - - -
Adjustments due to reconsolidation of subsidiary .. - (123,701) (123,701) - (123,701)
------------ ----------- ---------- ---------- -------------
Balance at end of year ............................ (1) (123,701) (123,702) 1 (123,701)
------------ ----------- ---------- ---------- -------------
Unearned Employee Compensation
Balance at beginning of year ...................... - - - - -
Adjustment ........................................ - - - - -
Balance at end of year ............................ - - - - -
------------ ----------- ---------- ---------- -------------
TOTAL COMMON STOCK EQUITY ........................... - 12,912 12,912 - 12,912
============ =========== ========== ========== =============
</TABLE>
<PAGE> 106
PAGE 103
F-6 (1 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 F-6 F-6 F-6
Page 2 Page 3 Page 4 Page 5
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 6 for detail)... 324,199 169,543 79,325 (308)
---------- ---------- ---------- ----------
Investment Activities
Capital expenditures (a) ............................ (283,807) (135,459) (14,297) -
Other investments - net ............................. 2,324 (1,557) (2,432) 368
---------- ---------- ---------- ----------
Net Investment Activities ............................. (281,483) (137,016) (16,729) 368
---------- ---------- ---------- ----------
Financing Activities
Dividends paid ...................................... (92,162) (27,089) 119,251 -
Issuance (retirement) of revolving credit agreement . - - - -
Capital contributions ............................... 62,000 - (62,500) 500
Retirement of long-term debt ........................ (86,202) (592) 121,692 -
Issuance of common stock -
Issued by Registrant .............................. - - 110 -
Issued by Subsidiary to Registrant ................ - - - -
Issuance of long-term debt -
Issued by Registrant .............................. - - - -
Issued by Subsidiary to Registrant ................ 86,414 33,236 (155,400) -
Net short-term intrasystem financing ................ 4,690 (24,897) 20,210 -
Increase (decrease) in short-term debt and other
financing activities ............................... 16,903 (13,229) 590 -
Debtor-In-Possession financing ...................... - - - -
---------- ---------- ---------- ----------
Net Financing Activities .............................. (8,357) (32,571) 43,953 500
---------- ---------- ---------- ----------
Increase in cash and temporary cash investments ....... 34,359 (44) 106,549 560
Cash and temporary cash investments at
beginning of year .................................... 1,235,110 15,060 83,306 6,909
---------- ---------- ---------- ----------
Cash and Temporary Cash Investments at
end of Year (b) ...................................... 1,269,469 15,016 189,855 7,469
========== ========== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
Consoli-
dating Consoli-
Combined Entries dated
---------- ---------- ----------
<S> <C> <C> <C>
Net Cash From Operations (See F-6 Page 6 for detail)... 572,759 2 572,761
---------- ---------- ----------
Investment Activities
Capital expenditures (a) ............................ (433,563) - (433,563)
Other investments - net ............................. (1,297) - (1,297)
---------- ---------- ----------
Net Investment Activities ............................. (434,860) - (434,860)
---------- ---------- ----------
Financing Activities
Dividends paid ...................................... - - -
Issuance (retirement) of revolving credit agreement . - - -
Capital contributions ............................... - - -
Retirement of long-term debt ........................ 34,898 (35,749) (851)
Issuance of common stock -
Issued by Registrant .............................. 110 - 110
Issued by Subsidiary to Registrant ................ - - -
Issuance of long-term debt -
Issued by Registrant .............................. - - -
Issued by Subsidiary to Registrant ................ (35,750) 35,750 -
Net short-term intrasystem financing ................ 3 (3) -
Increase (decrease) in short-term debt and other
financing activities ............................... 4,264 - 4,264
Debtor-In-Possession financing ...................... - - -
---------- ---------- ----------
Net Financing Activities .............................. 3,525 (2) 3,523
---------- ---------- ----------
Increase in cash and temporary cash investments ....... 141,424 - 141,424
Cash and temporary cash investments at
beginning of year .................................... 1,340,385 - 1,340,385
---------- ---------- ----------
Cash and Temporary Cash Investments at
end of Year (b) ...................................... 1,481,809 - 1,481,809
========== ========== ==========
</TABLE>
(a) Includes amounts transferred from cash paid to employees and for other
employee benefits and other operating cash payments.
(b) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which
are reported as intercompany accounts receivable on the balance sheet.
<PAGE> 107
PAGE 104
F-6 (2 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 2
CNR CGD TCO (c) CGT CKY Total
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 7 for detail)... 32,771 64,609 171,321 43,951 11,547 324,199
---------- ---------- ---------- ---------- ---------- ----------
Investment Activities
Capital expenditures (a) ............................ (26,231) (57,976) (137,981) (45,588) (16,031) (283,807)
Other investments - net ............................. - (2,573) - 4,897 - 2,324
---------- ---------- ---------- ---------- ---------- ----------
Net Investment Activities ............................. (26,231) (60,549) (137,981) (40,691) (16,031) (281,483)
---------- ---------- ---------- ---------- ---------- ----------
Financing Activities
Dividends paid ...................................... (10,309) - - (81,347) (506) (92,162)
Issuance (retirement) of revolving credit agreement . - - - - - -
Capital contributions ............................... - 62,000 - - - 62,000
Retirement of long-term debt ........................ - (82,740) (98) (3,339) (25) (86,202)
Issuance of common stock -
Issued by Registrant .............................. - - - - - -
Issued by Subsidiary to Registrant ................ - - - - - -
Issuance of long-term debt -
Issued by Registrant .............................. - - - - - -
Issued by Subsidiary to Registrant ................ 5,791 10,000 - 67,000 3,623 86,414
Net short-term intrasystem financing ................ - - - 2,674 2,016 4,690
Increase (decrease) in short-term debt and other
financing activities ............................... - - 11,068 5,966 (131) 16,903
Debtor-In-Possession financing ...................... - - - - - -
---------- ---------- ---------- ---------- ---------- ----------
Net Financing Activities .............................. (4,518) (10,740) 10,970 (9,046) 4,977 (8,357)
---------- ---------- ---------- ---------- ---------- ----------
Increase in cash and temporary cash investments ....... 2,022 (6,680) 44,310 (5,786) 493 34,359
Cash and temporary cash investments at
beginning of year .................................... 10,039 10,075 1,209,172 5,813 11 1,235,110
---------- ---------- ---------- ---------- ---------- ----------
Cash and Temporary Cash Investments at
end of Year (b) ...................................... 12,061 3,395 1,253,482 27 504 1,269,469
========== ========== ========== ========== ========== ==========
</TABLE>
(a) Includes amounts transferred from cash paid to employees and for other
employee benefits and other operating cash payments.
(b) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which
are reported as intercompany accounts receivable on the balance sheet.
(c) TCO includes one subsidiary as noted in Item 1. Consolidating financial
statements of TCO are presented herewith in Item 10 Exhibits F1A through
F6A.
<PAGE> 108
PAGE 105
F-6 (3 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 3
COH CMD CPA COS CES Total
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 8 for detail)... 93,699 4,054 54,416 18,505 (1,131) 169,543
---------- ---------- ---------- ---------- ---------- ----------
Investment Activities
Capital expenditures (a) ............................ (81,213) (5,357) (24,836) (23,847) (206) (135,459)
Other investments - net ............................. - - - - (1,557) (1,557)
---------- ---------- ---------- ---------- ---------- ----------
Net Investment Activities ............................. (81,213) (5,357) (24,836) (23,847) (1,763) (137,016)
---------- ---------- ---------- ---------- ---------- ----------
Financing Activities
Dividends paid ...................................... (16,694) (199) (9,196) - (1,000) (27,089)
Issuance (retirement) of revolving credit agreement . - - - - - -
Capital contributions ............................... -
Retirement of long-term debt ........................ (211) (11) (2) (246) (122) (592)
Issuance of common stock -
Issued by Registrant .............................. - - - - - -
Issued by Subsidiary to Registrant ................ - - - - - -
Issuance of long-term debt -
Issued by Registrant .............................. - - - - - -
Issued by Subsidiary to Registrant ................ 14,070 778 7,336 11,052 - 33,236
Net short-term intrasystem financing ................ 3,140 150 (25,597) (2,590) - (24,897)
Increase (decrease) in short-term debt and other
financing activities ............................... (9,251) (1,028) (1,248) (2,519) 817 (13,229)
Debtor-In-Possession financing ...................... - - - - - -
---------- ---------- ---------- ---------- ---------- ----------
Net Financing Activities .............................. (8,946) (310) (28,707) 5,697 (305) (32,571)
---------- ---------- ---------- ---------- ---------- ----------
Increase in cash and temporary cash investments ....... 3,540 (1,613) 873 355 (3,199) (44)
Cash and temporary cash investments at
beginning of year .................................... 158 1,702 386 81 12,733 15,060
---------- ---------- ---------- ---------- ---------- ----------
Cash and Temporary Cash Investments at
end of Year (b) ...................................... 3,698 89 1,259 436 9,534 15,016
========== ========== ========== ========== ========== ==========
</TABLE>
(a) Includes amounts transferred from cash paid to employees and for other
employee benefits and other operating cash payments.
(b) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which
are reported as intercompany accounts receivable on the balance sheet.
<PAGE> 109
PAGE 106
F-6 (4 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 4
CG CS CGC CPC CPI Total
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 9 for detail)... 60,613 3,113 8,930 1,559 5,110 79,325
---------- ---------- ---------- ---------- ---------- ----------
Investment Activities
Capital expenditures (a) ............................ - (10,235) - (508) (3,554) (14,297)
Other investments - net ............................. (5,313) 2,881 - - - (2,432)
---------- ---------- ---------- ---------- ---------- ----------
Net Investment Activities ............................. (5,313) (7,354) - (508) (3,554) (16,729)
---------- ---------- ---------- ---------- ---------- ----------
Financing Activities
Dividends paid ...................................... 124,727 (2,119) - (213) (3,144) 119,251
Issuance (retirement) of revolving credit agreement . - - - - - -
Capital contributions ............................... (74,500) - 12,000 - (62,500)
Retirement of long-term debt ........................ 138,656 (1,613) (14,041) (434) (876) 121,692
Issuance of common stock -
Issued by Registrant .............................. 110 - - - - 110
Issued by Subsidiary to Registrant ................ - - - - - -
Issuance of long-term debt -
Issued by Registrant .............................. - - - - - -
Issued by Subsidiary to Registrant ................ (159,900) - 500 - 4,000 (155,400)
Net short-term intrasystem financing ................ 4,859 22,683 (5,230) (78) (2,024) 20,210
Increase (decrease) in short-term debt and other
financing activities ............................... 516 (808) - 131 751 590
Debtor-In-Possession financing ...................... - - - - - -
---------- ---------- ---------- ---------- ---------- ----------
Net Financing Activities .............................. 34,468 18,143 (6,771) (594) (1,293) 43,953
---------- ---------- ---------- ---------- ---------- ----------
Increase in cash and temporary cash investments ....... 89,768 13,902 2,159 457 263 106,549
Cash and temporary cash investments at
beginning of year .................................... 128,688 (45,586) 54 23 127 83,306
---------- ---------- ---------- ---------- ---------- ----------
Cash and Temporary Cash Investments at
end of Year (b) ...................................... 218,456 (31,684) 2,213 480 390 189,855
========== ========== ========== ========== ========== ==========
</TABLE>
(a) Includes amounts transferred from cash paid to employees and for other
employee benefits and other operating cash payments.
(b) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which
are reported as intercompany accounts receivable on the balance sheet.
<PAGE> 110
PAGE 107
F-6 (5 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 5
TVC (c) TCC (c) CAT Total
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 10 for detail).. (267) 4 (45) (308)
---------- ---------- ---------- ----------
Investment Activities
Capital expenditures (a) ............................ - - - 0
Other investments - net ............................. 868 (500) - 368
---------- ---------- ---------- ----------
Net Investment Activities ............................. 868 (500) - 368
---------- ---------- ---------- ----------
Financing Activities
Dividends paid ...................................... - - - -
Issuance (retirement) of revolving credit agreement . - - - -
Capital contributions ............................... - 500 - 500
Retirement of long-term debt ........................ - - - -
Issuance of common stock -
Issued by Registrant .............................. - - - -
Issued by Subsidiary to Registrant ................ - - - -
Issuance of long-term debt -
Issued by Registrant .............................. - - - -
Issued by Subsidiary to Registrant ................ - - - -
Net short-term intrasystem financing ................ - - - -
Increase (decrease) in short-term debt and other
financing activities ............................... - - - -
Debtor-In-Possession financing ...................... - - - -
---------- ---------- ---------- ----------
Net Financing Activities .............................. - 500 - 500
---------- ---------- ---------- ----------
Increase in cash and temporary cash investments ....... 601 4 (45) 560
Cash and temporary cash investments at
beginning of year .................................... 6,178 38 693 6,909
---------- ---------- ---------- ----------
Cash and Temporary Cash Investments at
end of Year (b) ...................................... 6,779 42 648 7,469
========== ========== ========== ==========
</TABLE>
(a) Includes amounts transferred from cash paid to employees and for other
employee benefits and other operating cash payments.
(b) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which
are reported as intercompany accounts receivable on the balance sheet.
(c) TVC includes twelve subsidiaries and TCC includes one subsidiary as noted
in Item 1. Consolidating financial statements of TVC and TCC are
presented herewith in Item 10 Exhibits F1B through F6B and F1C through
F6C, respectively.
<PAGE> 111
PAGE 108
F-6 (6 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 F-6 F-6 F-6
Page 7 Page 8 Page 9 Page 10
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Net Income Reconciliation
Net income .......................................... 67,765 56,189 247,049 2,526
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries .. - - (132,882) -
Depreciation and depletion ........................ 194,159 60,749 7,079 -
Deferred income taxes ............................. 13,603 (22,513) 53,852 3,427
Change in accounting for postemployment benefits .. 4,629 96 375 -
Other - net ....................................... 172,468 (53,247) (106,046) (6,024)
Changes in components of working capital:
Accounts receivable ............................... 84,128 39,562 9,211 75
Gas inventory ..................................... (2,336) (30,109) - -
Accounts payable .................................. (11,920) (22,260) (2,071) 79
Accrued taxes ..................................... 23,392 22,822 566 (448)
Estimated rate refunds ............................ (148,918) 15,618 - -
Estimated supplier obligations .................... (49,696) - - -
Other working capital ............................. (23,075) 102,636 2,192 57
---------- ---------- ---------- ----------
Net Cash From Operations .............................. 324,199 169,543 79,325 (308)
========== ========== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
Consoli-
dating Consoli-
Combined Entries dated
---------- ---------- ----------
<S> <C> <C> <C>
Net Income Reconciliation
Net income .......................................... 373,529 (132,882) 240,647
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries .. (132,882) - (132,882)
Depreciation and depletion ........................ 261,987 (248) 261,739
Deferred income taxes ............................. 48,369 23,791 72,160
Change in accounting for postemployment benefits .. 5,100 473 5,573
Other - net ....................................... 7,151 100,671 107,822
Changes in components of working capital:
Accounts receivable ............................... 132,976 2,936 135,912
Gas inventory ..................................... (32,445) - (32,445)
Accounts payable .................................. (36,172) 708 (35,464)
Accrued taxes ..................................... 46,332 (608) 45,724
Estimated rate refunds ............................ (133,300) - (133,300)
Estimated supplier obligations .................... (49,696) 6 (49,690)
Other working capital ............................. 81,810 5,155 86,965
---------- ---------- ----------
Net Cash From Operations .............................. 572,759 2 572,761
========== ========== ==========
</TABLE>
<PAGE> 112
PAGE 109
F-6 (7 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 7
CNR CGD TCO (a) CGT CKY Total
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income .......................................... 13,319 (137) 28,162 22,580 3,841 67,765
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries .. - - - - - -
Depreciation and depletion ........................ 20,598 63,667 76,719 27,499 5,676 194,159
Deferred income taxes ............................. 1,825 1,225 17,425 (4,304) (2,568) 13,603
Change in accounting for postemployment benefits .. 361 183 3,119 966 - 4,629
Other - net ....................................... (660) (19,407) 197,449 (3,425) (1,489) 172,468
Changes in components of working capital:
Accounts receivable ............................... (5,460) 11,407 65,420 9,322 3,439 84,128
Gas inventory ..................................... - - - - (2,336) (2,336)
Accounts payable .................................. (258) 1,361 (4,300) (7,738) (985) (11,920)
Accrued taxes ..................................... 2,876 4,752 11,136 3,589 1,039 23,392
Estimated rate refunds ............................ - - (152,657) 3,011 728 (148,918)
Estimated supplier obligations .................... - - (49,696) - - (49,696)
Other working capital ............................. 170 1,558 (21,456) (7,549) 4,202 (23,075)
---------- ---------- ---------- ---------- ---------- ----------
Net Cash From Operations .............................. 32,771 64,609 171,321 43,951 11,547 324,199
========== ========== ========== ========== ========== ==========
</TABLE>
(a) TCO includes one subsidiary as noted in Item 1. Consolidating financial
statements of TCO are presented herewith in Item 10 Exhibits F1A through
F6A.
<PAGE> 113
PAGE 110
F-6 (8 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 8
COH CMD CPA COS CES Total
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income .......................................... 32,546 1,253 16,218 4,674 1,498 56,189
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries .. - - - - - -
Depreciation and depletion ........................ 37,965 2,125 12,861 7,723 75 60,749
Deferred income taxes ............................. (11,900) (545) (6,342) (3,566) (160) (22,513)
Change in accounting for postemployment benefits .. - 20 - 76 - 96
Other - net ....................................... (22,077) (2,721) (14,713) (7,356) (6,380) (53,247)
Changes in components of working capital:
Accounts receivable ............................... 8,530 3,184 12,338 4,982 10,528 39,562
Gas inventory ..................................... (18,631) (35) (8,502) (2,941) - (30,109)
Accounts payable .................................. (12,098) 187 (934) (1,160) (8,255) (22,260)
Accrued taxes ..................................... 17,996 (262) 4,813 361 (86) 22,822
Estimated rate refunds ............................ 18,133 85 (3,060) 460 - 15,618
Estimated supplier obligations .................... - - - - - -
Other working capital ............................. 43,235 763 41,737 15,252 1,649 102,636
---------- ---------- ---------- ---------- ---------- ----------
Net Cash From Operations .............................. 93,699 4,054 54,416 18,505 (1,131) 169,543
========== ========== ========== ========== ========== ==========
</TABLE>
<PAGE> 114
PAGE 111
F-6 (9 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 9
CG CS CGC CPC CPI Total
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income .......................................... 240,647 2,142 388 593 3,279 247,049
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries .. (132,882) - - - - (132,882)
Depreciation and depletion ........................ - 4,836 35 786 1,422 7,079
Deferred income taxes ............................. 53,133 821 (222) 62 58 53,852
Change in accounting for postemployment benefits .. 51 - - 151 173 375
Other - net ....................................... (95,428) (13,422) 2,205 357 242 (106,046)
Changes in components of working capital:
Accounts receivable ............................... 32 9,076 238 (320) 185 9,211
Gas inventory ..................................... - - - - - -
Accounts payable .................................. (4,810) 3,364 (400) (94) (131) (2,071)
Accrued taxes ..................................... 160 (93) 244 51 204 566
Estimated rate refunds ............................ - - - - - -
Estimated supplier obligations .................... - - - - - -
Other working capital ............................. (290) (3,611) 6,442 (27) (322) 2,192
---------- ---------- ---------- ---------- ---------- ----------
Net Cash From Operations .............................. 60,613 3,113 8,930 1,559 5,110 79,325
========== ========== ========== ========== ========== ==========
</TABLE>
<PAGE> 115
PAGE 112
F-6 (10 of 10) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 10
TVC(a) TCC(a) CAT Total
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Net Income Reconciliation
Net income .......................................... 2,493 (10) 43 2,526
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries .. - - - -
Depreciation and depletion ........................ - - - -
Deferred income taxes ............................. 3,013 (41) 455 3,427
Change in accounting for postemployment benefits .. - - - -
Other - net ....................................... (5,982) 3 (45) (6,024)
Changes in components of working capital: -
Accounts receivable ............................... (23) (4) 102 75
Gas inventory ..................................... - - - -
Accounts payable .................................. 78 1 - 79
Accrued taxes ..................................... (67) 55 (436) (448)
Estimated rate refunds ............................ - - - -
Estimated supplier obligations .................... - - - -
Other working capital ............................. 221 - (164) 57
---------- ---------- ---------- ----------
Net Cash From Operations .............................. (267) 4 (45) (308)
========== ========== ========== ==========
</TABLE>
(a) TVC includes twelve subsidiaries and TCC includes one subsidiary as noted
in Item 1. Consolidating financial statements of TVC and TCC are presented
herewith in Item 10 Exhibits F1B through F6B and F1C through F6C, respectively.
<PAGE> 116
PAGE 113
F-6A (1 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia Gas Transmission Corporation and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating TCO
CTIC TCO Combined Entries Consolidated
----------- ------------ ----------- ------------ ------------
<S> <C> <C> <C> <C> <C>
Net Cash From Operations (refer to F-6A Page 2 of 2).... 21,334 149,987 171,321 - 171,321
----------- ------------ ----------- ------------ ------------
Investment Activities
Capital expenditures (a) ............................. - (137,981) (137,981) - (137,981)
Other investments - net .............................. - (74,000) (74,000) 74,000 -
----------- ------------ ----------- ------------ ------------
Net Investment Activities .............................. - (211,981) (211,981) 74,000 (137,981)
Financing Activities
Dividends paid ....................................... - - - - -
Issuance (retirement) of revolving credit agreement .. - - - - -
Retirement of long-term debt ......................... - (98) (98) - (98)
Issuance of common stock -
Issued by Registrant ............................... - - - - -
Issued by Subsidiary to Registrant ................. 158,500 - 158,500 (158,500) -
Issuance of long-term debt -
Issued by Registrant ............................... - - - - -
Issued by Subsidiary to Registrant ................. - - - - -
Net short-term intrasystem financing ................. - - - - -
Increase (decrease) in short-term debt and other
financing activities ................................ (135,547) 62,115 (73,432) 84,500 11,068
Debtor-In-Possession financing ....................... - - - - -
----------- ------------ ----------- ------------ ------------
Net Financing Activities ............................... 22,953 62,017 84,970 (74,000) 10,970
Increase in cash and temporary cash investments ........ 44,287 23 44,310 - 44,310
Cash and temporary cash investments at
beginning of year ..................................... 1,209,052 120 1,209,172 - 1,209,172
----------- ------------ ----------- ------------ ------------
Cash and Temporary Cash Investments at
end of year (b) ...................................... 1,253,339 143 1,253,482 - 1,253,482
=========== ============ =========== ============ ============
</TABLE>
(a) Includes amounts transferred from cash paid to employees and for other
employee benefits and other operating cash payments.
(b) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which
are reported as intercompany accounts receivable on the balance sheet.
<PAGE> 117
PAGE 114
F-6A (2 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Columbia Gas Transmission Corporation and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating TCO
CTIC TCO Combined Entries Consolidated
----------- ------------ ----------- ------------ ------------
<S> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income ........................................... 34,754 28,162 62,916 (34,754) 28,162
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries ... - - - - -
Depreciation and depletion ......................... - 76,719 76,719 - 76,719
Deferred income taxes .............................. - 17,425 17,425 - 17,425
Change in accounting for postretirement benefits ... - 3,119 3,119 - 3,119
Other - net ........................................ - 197,449 197,449 - 197,449
Changes in Components of working capital:
Accounts receivable ................................ (13,073) 78,493 65,420 - 65,420
Gas inventory ...................................... - - - - -
Accounts payable ................................... 14 (4,314) (4,300) - (4,300)
Accrued taxes ...................................... (361) 11,497 11,136 - 11,136
Estimated rate refunds ............................. - (152,657) (152,657) - (152,657)
Estimated supplier obligations ..................... - (49,696) (49,696) - (49,696)
Other working capital .............................. - (56,210) (56,210) 34,754 (21,456)
----------- ------------ ----------- ------------ ------------
Net Cash From Operations ............................... 21,334 149,987 171,321 - 171,321
=========== ============ =========== ============ ============
</TABLE>
<PAGE> 118
PAGE 115
F-6B (1 of 6) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
F-6B F-6B dating TVC
Page 2 Page 3 Combined Entries Consolidated
---------- ---------- ---------- ---------- ------------
<S> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6B
page 4 for detail).............................. (1,255) 3,213 1,958 (2,225) (267)
---------- ---------- ---------- ---------- ------------
Investment Activities
Capital expenditures (a) .......................... - - - - -
Other investments - net ........................... - 868 868 - 868
---------- ---------- ---------- ---------- ------------
Net Investment Activities ........................... - 868 868 - 868
---------- ---------- ---------- ---------- ------------
Financing Activities
Dividends paid .................................... - - - - -
Issuance (retirement) of revolving credit agreement - - - - -
Retirement of long-term debt ...................... - - - - -
Issuance of common stock -
Issued by Registrant ............................ - - - - -
Issued by Subsidiary to Registrant .............. - - - - -
Issuance of long-term debt -
Issued by Registrant ............................ - - - - -
Issued by Subsidiary to Registrant .............. - - - - -
Net short-term intrasystem financing .............. - - - - -
Increase (decrease) in short-term debt and other
financing activities ............................. - - - - -
Debtor-In-Possession financing .................... - - - - -
---------- ---------- ---------- ---------- ------------
Net Financing Activities ............................ - - - - -
---------- ---------- ---------- ---------- ------------
Increase in cash and temporary cash investments ..... (1,255) 4,081 2,826 (2,225) 601
Cash and temporary cash investments at
beginning of year .................................. 3,554 3,006 6,560 (382) 6,178
---------- ---------- ---------- ---------- ------------
Cash and Temporary Cash Investments at
end of year (b) ................................... 2,299 7,087 9,386 (2,607) 6,779
========== ========== ========== ========== ============
</TABLE>
(a) Includes amounts transferred from cash paid to employees and for other
employee benefits and other operating cash payments.
(b) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
<PAGE> 119
PAGE 116
F-6B (2 of 6) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
BGC BLC GGC GLC
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Net Cash From Operations (See F-6B
page 5 for detail)............................. 57 317 333 (425)
---------- ---------- ---------- ----------
Investment Activities
Capital expenditures (a) .......................... - - - -
Other investments - net ........................... - - - -
---------- ---------- ---------- ----------
Net Investment Activities ........................... - - - -
Financing Activities
Dividends paid .................................... - - - -
Issuance (retirement) of revolving credit agreement - - - -
Retirement of long-term debt ...................... - - - -
Issuance of common stock -
Issued by Registrant ............................ - - - -
Issued by Subsidiary to Registrant .............. - - - -
Issuance of long-term debt -
Issued by Registrant ............................ - - - -
Issued by Subsidiary to Registrant .............. - - - -
Net short-term intrasystem financing .............. - - - -
Increase (decrease) in short-term debt and other
financing activities ............................. - - - -
Debtor-In-Possession financing .................... - - - -
---------- ---------- ---------- ----------
Net Financing Activities ............................ - - - -
---------- ---------- ---------- ----------
Increase in cash and temporary cash investments ..... 57 317 333 (425)
Cash and temporary cash investments at
beginning of year .................................. (1,863) (4,347) (27) (1,310)
---------- ---------- ---------- ----------
Cash and Temporary Cash Investments at
end of year (b) ................................... (1,806) (4,030) 306 (1,735)
========== ========== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
F-6B Page 2
PGC PLC TVC Total
------------ ---------- ---------- ----------
<S> <C> <C> <C> <C>
Net Cash From Operations (See F-6B
page 5 for detail)............................. 622 1,537 (3,696) (1,255)
------------ ---------- ---------- ----------
Investment Activities
Capital expenditures (a) .......................... - - - -
Other investments - net ........................... - - - -
------------ ---------- ---------- ----------
Net Investment Activities ........................... - - - -
Financing Activities
Dividends paid .................................... - - - -
Issuance (retirement) of revolving credit agreement - - - -
Retirement of long-term debt ...................... - - - -
Issuance of common stock -
Issued by Registrant ............................ - - - -
Issued by Subsidiary to Registrant .............. - - - -
Issuance of long-term debt -
Issued by Registrant ............................ - - - -
Issued by Subsidiary to Registrant .............. - - - -
Net short-term intrasystem financing .............. - - - -
Increase (decrease) in short-term debt and other
financing activities ............................. - - - -
Debtor-In-Possession financing .................... - - - -
------------ ---------- ---------- ----------
Net Financing Activities ............................ - - - -
Increase in cash and temporary cash investments ..... 622 1,537 (3,696) (1,255)
Cash and temporary cash investments at
beginning of year .................................. (6) 9 11,098 3,554
------------ ---------- ---------- ----------
Cash and Temporary Cash Investments at
end of year (b) ................................... 616 1,546 7,402 2,299
============ ========== ========== ==========
</TABLE>
(a) Includes amounts transferred from cash paid to employees and for other
employee benefits and other operating cash payments.
(b) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
<PAGE> 120
PAGE 117
F-6B (3 of 6) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6B Page 3
VGC VLC RL FC TVC9 TVC10 Total
---------- ---------- ---------- ---------- ------------ ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6B
page 6 for detail)............................. 6 39 3,240 (72) - - 3,213
---------- ---------- ---------- ---------- ------------ ---------- ----------
Investment Activities
Capital expenditures (a) .......................... - - - - - - -
Other investments - net ........................... - - 868 - - - 868
---------- ---------- ---------- ---------- ------------ ---------- ----------
Net Investment Activities ........................... - - 868 - - - 868
---------- ---------- ---------- ---------- ------------ ---------- ----------
Financing Activities
Dividends paid .................................... - - - - - - -
Issuance (retirement) of revolving credit agreement - - - - - - -
Retirement of long-term debt ...................... - - - - - - -
Issuance of common stock -
Issued by Registrant ............................ - - - - - - -
Issued by Subsidiary to Registrant .............. - - - - - - -
Issuance of long-term debt -
Issued by Registrant ............................ - - - - - - -
Issued by Subsidiary to Registrant .............. - - - - - - -
Net short-term intrasystem financing .............. - - - - - - -
Increase (decrease) in short-term debt and other
financing activities ............................. - - - - - - -
Debtor-In-Possession financing .................... - - - - - - -
---------- ---------- ---------- ---------- ------------ ---------- ----------
Net Financing Activities ............................ - - - - - - -
---------- ---------- ---------- ---------- ------------ ---------- ----------
Increase in cash and temporary cash investments ..... 6 39 4,108 (72) - - 4,081
Cash and temporary cash investments at
beginning of year .................................. 82 764 2,123 37 - - 3,006
---------- ---------- ---------- ---------- ------------ ---------- ----------
Cash and Temporary Cash Investments at
end of year (b) ................................... 88 803 6,231 (35) - - 7,087
========== ========== ========== ========== ============ ========== ==========
</TABLE>
(a) Includes amounts transferred from cash paid to employees and for other
employee benefits and other operating cash payments.
(b) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
<PAGE> 121
PAGE 118
F-6B (4 of 6) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
F-6B F-6B dating TVC
Page 5 Page 6 Combined Entries Consolidated
---------- ---------- ---------- ---------- ------------
<S> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income ........................................ 4,198 520 4,718 (2,225) 2,493
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries - - - - -
Depreciation and depletion ...................... - - - - -
Deferred income taxes ........................... 1,760 1,253 3,013 - 3,013
Other - net ..................................... (5,969) (13) (5,982) - (5,982)
Changes in Components of working capital:
Accounts receivable ............................. (1,706) 1,683 (23) - (23)
Gas inventory ................................... - - - - -
Accounts payable ................................ 130 (52) 78 - 78
Accrued taxes ................................... 175 (242) (67) - (67)
Estimated rate refunds .......................... - - - - -
Estimated supplier obligations .................. - - - - -
Other working capital ........................... 214 7 221 - 221
---------- ---------- ---------- ---------- ------------
Net Cash From Operations ............................ (1,198) 3,156 1,958 (2,225) (267)
========== ========== ========== ========== ============
</TABLE>
<PAGE> 122
PAGE 119
F-6B (5 of 6) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
BGC BLC GGC GLC
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Net Income Reconciliation
Net income ........................................ 2 (7) (3) (123)
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries - - - -
Depreciation and depletion ...................... - - - -
Deferred income taxes ........................... 54 308 332 (203)
Other - net ..................................... 1 5 - (1)
Changes in Components of working capital:
Accounts receivable ............................. 27 110 3 3
Gas inventory ................................... - - -
Accounts payable ................................ (8) (19) 3 162
Accrued taxes ................................... (21) (86) (1) (121)
Estimated rate refunds .......................... - - - -
Estimated supplier obligations .................. - - - -
Other working capital ........................... (6) (15) 2 74
---------- ---------- ---------- ----------
Net Cash From Operations ............................ 49 296 336 (209)
========== ========== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
F-6B Page 5
PGC PLC TVC Total
------------ ---------- ---------- ----------
<S> <C> <C> <C> <C>
Net Income Reconciliation
Net income ........................................ 526 1,310 2,493 4,198
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries - - - -
Depreciation and depletion ...................... - - - -
Deferred income taxes ........................... 276 614 379 1,760
Other - net ..................................... - - (5,974) (5,969)
Changes in Components of working capital:
Accounts receivable ............................. 2 2 (1,853) (1,706)
Gas inventory ................................... - - - -
Accounts payable ................................ (1) (2) (5) 130
Accrued taxes ................................... (183) (390) 977 175
Estimated rate refunds .......................... - - - -
Estimated supplier obligations .................. - - - -
Other working capital ........................... - 3 156 214
------------ ---------- ---------- ----------
Net Cash From Operations ............................ 620 1,537 (3,827) (1,198)
============ ========== ========== ==========
</TABLE>
<PAGE> 123
PAGE 120
F-6B (6 of 6) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Ventures Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6B Page 6
VGC VLC RL FC TVC9 TVC10 Total
---------- ---------- ---------- ---------- ------------ ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income ........................................ (6) (15) 542 (1) - - 520
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries - - - - - - -
Depreciation and depletion ...................... - - - - - - -
Deferred income taxes ........................... 17 159 1,075 2 - - 1,253
Other - net ..................................... - - (16) 3 - - (13)
Changes in Components of working capital:
Accounts receivable ............................. 9 35 1,639 - - - 1,683
Gas inventory ................................... - - - - - - -
Accounts payable ................................ (1) (2) (40) (9) - - (52)
Accrued taxes ................................... (14) (142) (18) (68) - - (242)
Estimated rate refunds .......................... - - - - - - -
Estimated supplier obligations .................. - - - - - - -
Other working capital ........................... - - 16 (9) - - 7
---------- ---------- ---------- ---------- ------------ ---------- ----------
Net Cash From Operations ............................ 5 35 3,198 (82) - - 3,156
========== ========== ========== ========== ============ ========== ==========
</TABLE>
<PAGE> 124
PAGE 121
F-6C (1 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Captial Corporation and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating Consoli-
TGT TCC Combined Entries dated
------------ ---------- ---------- ------------ ------------
<S> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6C Page 2 for detail).. - 4 4 - 4
------------ ---------- ---------- ------------ ------------
Investment Activities
Capital expenditures (a) ............................ - - - - -
Other investments - net ............................. (500) (500) (1,000) 500 (500)
------------ ---------- ---------- ------------ ------------
Net Investment Activities ............................. (500) (500) (1,000) 500 (500)
------------ ---------- ---------- ------------ ------------
Financing Activities
Dividends paid ...................................... - - - - -
Issuance (retirement) of revolving credit agreement . - - - - -
Capital Contributions ............................... 500 500 1,000 (500) 500
Retirement of long-term debt ........................ - - - - -
Issuance of common stock -
Issued by Registrant .............................. - - - - -
Issued by Subsidiary to Registrant ................ - - - - -
Issuance of long-term debt -
Issued by Registrant .............................. - - - - -
Issued by Subsidiary to Registrant ................ - - - - -
Net short-term intrasystem financing ................ - - - - -
Increase (decrease) in short-term debt and other
financing activities ............................... - - - - -
Debtor-In-Possession financing ...................... - - - - -
------------ ---------- ---------- ------------ ------------
Net Financing Activities .............................. 500 500 1,000 (500) 500
------------ ---------- ---------- ------------ ------------
Increase in cash and temporary cash investments ....... - 4 4 - 4
Cash and temporary cash investments at
beginning of year .................................... - 38 38 - 38
------------ ---------- ---------- ------------ ------------
Cash and Temporary Cash Investments at
End of Year (b) ..................................... - 42 42 - 42
============ ========== ========== ============ ============
</TABLE>
(a) Includes amounts transferred from cash paid to employees and for other
employee benefits and other operating cash payments.
(b) The Corporation considers all highly liquid debt instruments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
<PAGE> 125
PAGE 122
F-6C (2 of 2) THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Tristar Captial Corporation and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1994
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating Consoli-
TGT TCC Combined Entries dated
------------ ---------- ---------- ------------ ------------
<S> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income .......................................... (8) (2) (10) - (10)
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries .. - 8 8 (8) -
Depreciation and depletion ........................ - - - - -
Deferred income taxes ............................. (41) - (41) - (41)
Change in accounting for postemployment benefits .. - - - - -
Other - net ....................................... (7) 2 (5) 8 3
Changes in Components of working working capital:
Accounts receivable ............................... - (4) (4) - (4)
Gas inventory ..................................... - - - - -
Accounts payable .................................. 1 - 1 - 1
Accrued taxes ..................................... 55 - 55 - 55
Estimated rate refunds ............................ - - - - -
Estimated supplier obligations .................... - - - - -
Other working capital ............................. - - - - -
------------ ---------- ---------- ------------ ------------
Net Cash From Operations .............................. - 4 4 - 4
============ ========== ========== ============ ============
</TABLE>
<PAGE> 126
Page 124
SIGNATURE
The registrant has duly caused this annual report to be signed on its
behalf by the undersigned thereunto duly authorized pursuant to the
requirements of the Public Utility Holding Company Act of 1935, such company
being a registered holding company.
THE COLUMBIA GAS SYSTEM, INC.
By: /s/ R. E. Lowe
------------------------------
R. E. Lowe
Vice President and Controller
Date: April 27, 1995
<PAGE> 127
EXHIBIT A
The financial statements listed below included in The Columbia Gas
System, Inc.'s 1994 Form 10-K filed with the Commission on March 6,
1995 (File No. 1-1098) are incorporated herein by reference. The
report of Arthur Andersen & Co., independent public accountants,
dated February 9, 1995 regarding such financial statements is
included on Exhibit 1-F filed herewith. The Corporation's 1994
Annual Report to Shareholders is filed under cover of Form SE.
Financial Statements:
<TABLE>
<CAPTION>
Annual
Report
Page
No.
------
<S> <C>
Statement of Consolidated Income for the year ended
December 31, 1994 ................................... 57
Consolidated Balance Sheet as of December 31, 1994 .... 58-59
Consolidated Statement of Cash Flows
for the year ended December 31, 1994 ................ 60
Statement of Consolidated Common Stock Equity for the
year ended December 31, 1994 ........................ 61
Notes to Consolidated Financial Statements ............ 62-85
</TABLE>
<PAGE> 128
Page 1
EXHIBIT B
Exhibit B. Index to corporate organization and by-laws exhibits
filed pursuant to the Public Utility Holding Company Act of 1935.
<TABLE>
<CAPTION>
Exhibit B Notes
-----------------------------------
Articles of By-Laws or
Incorporation Regulations
-------------- ------------
<S> <C> <C> <C> <C>
The Columbia Gas System, Inc. .................... (1) (2)
Atlantic Energy, Inc. ............................ (3) (4)
Columbia Atlantic Trading Corporation ............ (5) (6)
Columbia Coal Gasification Corporation ........... (7) (8)
Columbia Energy Services Corporation ............. (9) (10)
Columbia Gas Development Corporation ............. (11) (12)
Columbia Gas of Kentucky, Inc. ................... (13) (14)
Columbia Gas of Maryland, Inc. ................... 1-A (15) (16)
Columbia Gas of Ohio, Inc. ....................... (17) (18)
Columbia Gas of Pennsylvania, Inc. ............... (19) (20)
Columbia Gas System Service Corporation .......... (21) (22)
Columbia Gas Transmission Corporation ............ (23) (24)
Columbia Transmission Investment Corporation ... (25) (26)
Columbia Gulf Transmission Company ............... 2-A (27) (28)
Columbia LNG Corporation ......................... 3-A (29) 3-B (30)
CLNG Corporation ............................... 4-A (31) 4-B (32)
Columbia Natural Resources, Inc. ................. (33) (34)
Columbia Propane Corporation ..................... (35) (36)
Commonwealth Gas Services, Inc. .................. (37) (38)
Commonwealth Propane, Inc. ....................... (39) (40)
Inland Gas Company, Inc., The .................... (41) (42)
TriStar Capital Corporation ...................... (43) (44)
TriStar Gas Technologies, Inc. ................. (45) (46)
TriStar Trading Inc. ............................. (47) (48)
TriStar Ventures Corporation ..................... (49) (50)
TriStar Pedrick General Corporation ............ (51) (52)
TriStar Pedrick Limited Corporation ............ (53) (54)
TriStar Fuel Cells Corporation ................. (55) (56)
TriStar Binghamton General Corporation ......... (57) (58)
TriStar Binghamton Limited Corporation ......... (59) (60)
TriStar Georgetown General Corporation ......... (61) (62)
TriStar Georgetown Limited Corporation ......... (63) (64)
TriStar Vineland General Corporation ........... (65) (66)
TriStar Vineland Limited Corporation ........... (67) (68)
TriStar Rumford Limited Corporation ............ (69) (70)
TVC Nine Corporation ........................... (71) (72)
TVC Ten Corporation ............................ (73) (74)
</TABLE>
NOTES:
(1) Restated Certificate of Incorporation as adopted by action of
the Board of Directors on October 19, 1988, filed as Exhibit
1-A to Form U5S (1988); corrected copy as of July 15, 1991,
filed as Exhibit 1-A to Form U5S (1991).
(2) By-Laws as of May 28, 1986, filed as Exhibit 1-B to Form U5S
(1986); amendments dated May 13, 1987 and November 18, 1987,
filed as Exhibit B, pages 13-15, to Form U5S (1987).
<PAGE> 129
Page 2
EXHIBIT B (Continued)
NOTES: (Continued)
(3) Certificate of Incorporation of Atlantic Energy, Inc. as
amended through April 28, 1972, filed as Exhibit 1-A to Form
U5S (1981).
(4) By-Laws of Atlantic Energy, Inc. as amended through January
20, 1982, filed as Exhibit 1-B to Form U5S (1981).
(5) CAT Restated Certificate of Incorporation as filed on
February 27, 1989, filed as Exhibit 2-A to Form U5S (1988).
(6) CAT By-Laws as amended effective February 27, 1989, filed as
Exhibit 1-B to Form U5S (1988).
(7) Certificate of Incorporation, as amended through July 2,
1991, filed as Exhibit 2-A to Form U5S (1991).
(8) By-Laws, as amended to November 6, 1970, filed as Exhibit 2-B
to Form U5S (1970).
(9) Certificate of Incorporation of Columbia Energy Services
Corporation (formerly The Inland Gas Company, Inc.) dated
June 25, 1993 filed under cover of Form SE as Exhibit 1-B to
Form U5S (1993).
(10) By-Laws of Columbia Energy Services Corporation dated May 28,
1993 filed herewith as Exhibit 2-B to Form U5S (1993).
(11) Certificate of Incorporation as amended, filed as Exhibit 2-A
to Form U5S (1970). Certificate of Merger of The Preston Oil
Company into Columbia Gas Development Corporation dated
January 13, 1970, filed as Exhibit 3-A to Form U5S (1970);
amendment dated May 18, 1972, filed as Exhibit 1-A to Form
U5S (1972); amendment dated June 26, 1972, filed as Exhibit
2-A to Form U5S (1972); amendment dated October 11, 1972,
filed as Exhibit 3-A to Form U5S (1972); amendment dated
January 16, 1973, filed as Exhibit 1-A to Form U5S (1973);
amendment dated February 20, 1974, filed as Exhibit 4-A to
Form U5S (1974); amendment dated May 20, 1975, filed as
Exhibit 1-A to Form U5S (1975). Certificate of Merger of
Commonwealth Energy Company into Columbia Gas Development
Corporation dated November 19, 1981, filed as Exhibit 2-A to
Form U5S (1981); amendment dated October 24, 1983, filed as
Exhibit 2-A to Form U5S (1983).
(12) By-Laws, as amended to January 13, 1970, filed as Exhibit 3-B
to Form U5S (1970); amendment dated August 14, 1973, filed as
Exhibit 1-B to Form U5S (1973); amendment dated September 13,
1983, filed as Exhibit 1-B to Form U5S (1983); amendment
dated May 16, 1986, filed as Exhibit 2-B to Form U5S (1986);
amendment dated December 1, 1988, filed as Exhibit 2-B to
Form U5S (1988).
(13) Articles of Incorporation, as amended to January 1, 1958,
filed as Exhibit 2-A to Form U5S (1957); amendment dated
December 21, 1981, filed as Exhibit 3-A to Form U5S (1981);
amendment dated November 15, 1988, filed as Exhibit 3-A to
Form U5S (1988).
<PAGE> 130
Page 3
EXHIBIT B (Continued)
NOTES: (Continued)
(14) By-Laws, as amended to September 1, 1968, filed as Exhibit
4-B to Form U5S (1968); amendment dated June 16, 1970, filed
as Exhibit 4-B to Form U5S (1970); amendment dated September
24, 1975, filed as Exhibit 1-B to Form U5S (1975); amendment
dated May 4, 1977, filed as Exhibit 3-B to Form U5S (1977);
amendment dated May 1, 1985, filed as Exhibit 2-B to Form U5S
(1985); amendment dated December 8, 1988, filed as Exhibit
3-B to Form U5S (1988); amendment dated June 15, 1989, filed
as Exhibit 1-B to Form U5S (1989).
(15) Certificate of Incorporation as adopted July 1, 1958, filed
as Exhibit 1-A to Form U5S (1961); amendment dated January
17, 1980, filed as Exhibit 1-A to Form U5S (1979); amendment
dated February 15, 1995 filed as Exhibit 1-A to Form U5S
(1994).
(16) By-Laws, as amended to May 2, 1972, filed as Exhibit 4-B to
Form U5S (1972); amendment dated May 1, 1985, filed as
Exhibit 3-B to Form U5S (1985); amendment dated December 8,
1988, filed as Exhibit 4-B to Form U5S (1988); amendment
dated June 15, 1989, filed as Exhibit 2-B to Form U5S (1989).
(17) Articles of Incorporation as adopted October 6, 1961, filed
as Exhibit 1-A to Form U5S (1964); amendment dated December
27, 1963, filed as Exhibit 2-A to Form U5S (1964); amendment
dated February 21, 1964, filed as Exhibit 3-A to Form U5S
(1964); Certificate of Merger of Columbia Gas of Ohio, Inc.
and The Ohio Valley Gas Company effective December 31, 1974,
filed as Exhibit 5-A to Form U5S (1974); amendment dated
January 8, 1982, filed as Exhibit 2-A to Form U5S (1982).
(18) Regulations as adopted October 16, 1961, filed as Exhibit 2-B
to Form U5S (1964); amendment dated August 19, 1968, filed as
Exhibit 5-B to Form U5S (1968); amendment dated May 1, 1985,
filed as Exhibit 5-B to Form U5S (1985); amendment dated
December 9, 1985, filed as Exhibit 6-B to Form U5S (1985);
amendment dated December 8, 1988, filed as Exhibit 6-B to
Form U5S (1988); amendment dated June 15, 1989, filed as
Exhibit 4-B to Form U5S (1989).
(19) Articles of Incorporation as adopted during the year 1960,
filed as Exhibit 1-A to Form U5S (1962); amendment dated
December 21, 1981, filed as Exhibit 4-A to Form U5S (1981).
(20) By-Laws, as amended to May 2, 1972, filed as Exhibit 6-B to
Form U5S (1972); amendment dated May 1, 1985, filed as
Exhibit 7-B to Form U5S (1985); amendment dated December 8,
1988, filed as Exhibit 7-B to Form U5S (1988); amendment
dated June 15, 1989, filed as Exhibit 5-B to Form U5S (1989).
(21) Certificate of Incorporation, as amended through May 17,
1991, filed as Exhibit 3-A to Form U5S (1991).
(22) By-Laws, as amended February 10, 1988, filed as Exhibit 8-B
to Form U5S (1988).
<PAGE> 131
Page 4
EXHIBIT B (Continued)
NOTES: (Continued)
(23) Restated Certificate of Incorporation of Columbia Gas
Transmission Corporation dated March 3, 1982, filed as
Exhibit 3-A to Form U5S (1982); amendment dated October 22,
1984, filed as Exhibit 3-A to Form U5S (1984); Certificate of
Merger of Commonwealth Gas Pipeline Corp. into Columbia Gas
Transmission Corp. dated October 26, 1990, filed as Exhibit
1-A to Form U5S (1990).
(24) By-Laws of Columbia Gas Transmission Corporation as amended
through May 9, 1991, filed as Exhibit 1-B to Form U5S (1991).
(25) Certificate of Incorporation as adopted March 18, 1992, filed
as Exhibit 4-A to Form U5S (1991).
(26) By-Laws as of March 18, 1992, filed as Exhibit 4-B to Form
U5S (1991).
(27) Certificate of Incorporation as adopted May 26, 1958, filed
as Exhibit 3-A to Form U5S (1958); amendment dated November
10, 1981, filed as Exhibit 6-A to Form U5S (1981); amendment
dated December 23, 1994 filed herewith as Exhibit 2-A to
Form U5S (1994).
(28) By-Laws of Columbia Gulf Transmission Company as amended
through May 9, 1991, filed as Exhibit 2-B to Form U5S (1991).
(29) Restated Certificate of Incorporation of Columbia LNG
Corporation as amended to December 18, 1989, filed as Exhibit
18-A to Form U5S (1989); amendments dated January 31, 1992,
November 2, 1992, June 13, 1994 and April 13, 1995 filed
herewith as Exhibits 3- A-1, 3-A-2, 3-A-3 and 3-A-4,
respectively to Form U5S (1994).
(30) By-Laws of Columbia LNG Corporation as amended through
October 10, 1990, filed as Exhibit 1-B to Form U5S (1990);
amendment dated July 27, 1992, filed as Exhibit 3-B to Form
U5S (1992); amendment dated December 21, 1994 filed herewith
as Exhibit 1-B to Form U5S (1994).
(31) Certificate of Incorporation of CLNG Corporation as adopted
January 21, 1994, filed herewith as Exhibit 4-A to Form U5S
(1994).
(32) By-Laws of CLNG Corporation as amended through December 21,
1994 filed herewith as Exhibit 4-B to Form U5S (1994).
(33) Certificate of Incorporation of Columbia Natural Resources,
Inc. adopted on November 21, 1984, filed as Exhibit 4-A to
Form U5S (1984).
(34) By-Laws as of November 26, 1984, filed as Exhibit 2-B to Form
U5S (1984).
(35) Certificate of Incorporation as adopted August 19, 1957,
filed as Exhibit 3-A to Form U5S (1959); amendment dated
December 18, 1989, filed as Exhibit 1-A to Form U5S (1989).
<PAGE> 132
Page 5
EXHIBIT B (Continued)
NOTES: (Continued)
(36) By-Laws, as amended to December 4, 1957, filed as Exhibit 4-B
to Form U5S (1959); amendment dated May 31, 1966, filed as
Exhibit 2-B to Form U5S (1966); amendment dated August 3,
1967, filed as Exhibit 4-B to Form U5S (1967); amendment
dated October 3, 1968, filed as Exhibit 6-B to Form U5S
(1968); amendment dated February 4, 1971, filed as Exhibit
4-B to Form U5S (1971); amendment dated March 11, 1981, filed
as Exhibit 2-B to Form U5S (1981); amendment dated June 14,
1989, filed as Exhibit 8-B to Form U5S (1989).
(37) Certificate of Incorporation of Commonwealth Gas Services,
Inc. as amended through December 19, 1958, and including the
Certificate of Merger dated December 18, 1979, filed as
Exhibit 8-A to Form U5S (1981); amendment dated December 30,
1987, filed as Exhibit B, page 17, to Form U5S (1987).
(38) By-Laws of Commonwealth Gas Services, Inc. as amended through
March 5, 1985, filed as Exhibit 9-B to Form U5S (1985);
amendment dated April 21, 1986, filed as Exhibit 6-B to Form
U5S (1986); amendment dated April 20, 1987, filed as Exhibit
B, page 18, to Form U5S (1987); amendment dated January 1,
1989, filed as Exhibit 9-B to Form U5S (1988); amendment
dated June 15, 1989, filed as Exhibit 9-B to Form U5S (1989);
amendment dated May 6, 1991, filed as Exhibit 3-B to Form U5S
(1991); amendment dated December 7, 1992, filed as Exhibit
2-B to Form U5S (1992).
(39) Certificate of Incorporation of Commonwealth Propane, Inc. as
amended through October 3, 1981, and including the
Certificate of Merger dated December 31, 1980, filed as
Exhibit 9-A to Form U5S (1981); amendments dated July 1,
1988, filed as Exhibits 5-A and 6-A to Form U5S (1988);
amendment dated January 6, 1989, filed as Exhibit 7-A to Form
U5S (1988).
(40) By-Laws of Commonwealth Propane, Inc. as amended through July
16, 1990, filed as Exhibit 2-B to Form U5S (1990).
(41) Articles of Incorporation as adopted June 3, 1960, filed as
Exhibit 3-A to Form U5S (1965).
(42) By-Laws of Inland Gas Company, Inc. as amended through May 8,
1990, filed as Exhibit 3-B to Form U5S (1990).
(43) Certificate of Incorporation of TriStar Capital Corporation
dated August 2, 1990, filed as Exhibit 2-A to Form U5S
(1990).
(44) By-Laws of TriStar Capital Corporation dated August 2, 1990,
filed as Exhibit 4-B to Form U5S (1990).
(45) Certificate of Incorporation of TriStar Gas Technologies,
Inc. dated August 2, 1990, filed as Exhibit 3-A to Form U5S
(1990).
(46) By-Laws of TriStar Gas Technologies, Inc. dated August 2,
1990, filed as Exhibit 5-B to Form U5S (1990).
(47) Certificate of Incorporation of TriStar Trading Inc. dated
April 27, 1990, filed as Exhibit 4-A to Form U5S (1990).
<PAGE> 133
Page 6
EXHIBIT B (Continued)
NOTES: (Continued)
(48) By-Laws of TriStar Trading Inc. dated April 27, 1990,
filed as Exhibit 6-B to Form U5S (1990).
(49) Restated Certificate of Incorporation of TriStar Ventures
Corporation as of July 22, 1986, filed as Exhibit 2-A to Form
U5S (1986).
(50) By-Laws as of March 22, 1984, filed as Exhibit 1-B to Form
U5S (1984); amended to change the name from Columbia Gas
Brokerage Corporation to TriStar Ventures Corporation by the
Consent to Action in Lieu of a Special Meeting of the Board
of Directors dated July 11, 1986, filed as Exhibit 10-B to
Form U5S (1986).
(51) Certificate of Incorporation of TriStar CPA Corporation dated
April 29, 1988, filed as Exhibit 2-A to Form U5S (1989);
amendment changing name to TriStar Pedrick General
Corporation, dated August 2, 1989, filed as Exhibit 3-A to
Form U5S (1989).
(52) By-Laws of TriStar CPA Corporation (name later changed to
TriStar Pedrick General Corporation) dated April 29, 1988,
filed as Exhibit 14-B to Form U5S (1989).
(53) Certificate of Incorporation of TriStar Rumford Corporation
dated April 29, 1988, filed as Exhibit 4-A to Form U5S
(1989); amendment changing name to TriStar Pedrick Limited
Corporation, dated August 2, 1989, filed as Exhibit 5-A to
Form U5S (1989).
(54) By-Laws of TriStar Rumford Corporation (name later changed to
TriStar Pedrick Limited Corporation) dated April 29, 1988,
filed as Exhibit 15-B to Form U5S (1989).
(55) Certificate of Incorporation of TVC One Corporation dated
December 28, 1989, filed as Exhibit 6-A to Form U5S (1989);
amendment changing name to TriStar Fuel Cells Corporation,
dated May 8, 1990, filed as Exhibit 5-A to Form U5S (1990).
(56) By-Laws of TVC One Corporation (name later changed to TriStar
Fuel Cells Corporation) dated December 28, 1989, filed as
Exhibit 16-B to Form U5S (1989).
(57) Certificate of Incorporation of TVC Two Corporation dated
December 28, 1989, filed as Exhibit 7-A to Form U5S (1989);
amendment changing name to TriStar Binghamton General
Corporation, dated May 8, 1990, filed as Exhibit 6-A to Form
U5S (1990).
(58) By-Laws of TVC Two Corporation (name later changed to TriStar
Binghamton General Corporation) dated December 28, 1989,
filed as Exhibit 17-B to Form U5S (1989).
(59) Certificate of Incorporation of TVC Three Corporation dated
December 28, 1989, filed as Exhibit 8-A to Form U5S (1989);
amendment changing name to TriStar Binghamton Limited
Corporation, dated May 8, 1990, filed as Exhibit 7-A to Form
U5S (1990).
<PAGE> 134
Page 7
EXHIBIT B (Continued)
NOTES: (Continued)
(60) By-Laws of TVC Three Corporation (name later changed to
TriStar Binghamton Limited Corporation) dated December 28,
1989, filed as Exhibit 18-B to Form U5S (1989).
(61) Certificate of Incorporation of TVC Four Corporation dated
December 28, 1989, filed as Exhibit 9-A to Form U5S (1989);
amendment changing name to TriStar Georgetown General
Corporation, dated May 8, 1990, filed as Exhibit 8-A to Form
U5S (1990).
(62) By-Laws of TVC Four Corporation (name later changed to
TriStar Georgetown General Corporation) dated December 28,
1989, filed as Exhibit 19-B to Form U5S (1989).
(63) Certificate of Incorporation of TVC Five Corporation dated
December 28, 1989, filed as Exhibit 10-A to Form U5S (1989);
amendment changing name to TriStar Georgetown Limited
Corporation, dated May 1990, filed as Exhibit 9-A to Form
U5S (1990).
(64) By-Laws of TVC Five Corporation (name later changed to
TriStar Georgetown Limited Corporation) dated December 28,
1989, filed as Exhibit 20-B to Form U5S (1989).
(65) Certificate of Incorporation of TVC Six Corporation dated
December 28, 1989, filed as Exhibit 11-A to Form U5S (1989);
amendment changing name to TriStar Vineland General
Corporation, dated May 8, 1990, filed as Exhibit 10-A to Form
U5S (1990).
(66) By-Laws of TVC Six Corporation (name later changed to TriStar
Vineland General Corporation) dated December 28, 1989, filed
as Exhibit 21-B to Form U5S (1989).
(67) Certificate of Incorporation of TVC Seven Corporation dated
December 28, 1989, filed as Exhibit 12-A to Form U5S (1989);
amendment changing name to TriStar Vineland Limited
Corporation, dated May 8, 1990, filed as Exhibit 11-A to Form
U5S (1990).
(68) By-Laws of TVC Seven Corporation (name later changed to
TriStar Vineland Limited Corporation) dated December 28,
1989, filed as Exhibit 22-B to Form U5S (1989).
(69) Certificate of Incorporation of TVC Eight Corporation dated
December 28, 1989, filed as Exhibit 13-A to Form U5S (1989);
amendment changing name to TriStar Rumford Limited
Corporation, dated September 26, 1990, filed as Exhibit 12-A
to Form U5S (1990).
(70) By-Laws of TVC Eight Corporation (name later changed to
TriStar Rumford Limited Corporation) dated December 28, 1989,
filed as Exhibit 23-B to Form U5S (1989).
(71) Certificate of Incorporation of TVC Nine Corporation dated
December 28, 1989, filed as Exhibit 14-A to Form U5S (1989).
(72) By-Laws of TVC Nine Corporation dated December 28, 1989,
filed as Exhibit 24-B to Form U5S (1989).
<PAGE> 135
Page 8
EXHIBIT B (Continued)
NOTES: (Continued)
(73) Certificate of Incorporation of TVC Ten Corporation dated
December 28, 1989, filed as Exhibit 15-A to Form U5S (1989).
(74) By-Laws of TVC Ten Corporation dated December 28, 1989, filed
as Exhibit 25-B to Form U5S (1989).
<PAGE> 136
Page 1
EXHIBIT C
(a) *Reference is made to The Columbia Gas System, Inc.'s 1994
Form 10- K, pages 99 through 103, filed with the Commission
on March 6, 1995 (File No. 1-1098), for the indentures and
other fundamental documents defining the rights of security
holders.
*Incorporated herein by reference.
<PAGE> 137
Page 1
EXHIBIT D
A copy of the System Tax Allocation Agreement (Agreement) is
filed herewith as Exhibit D to Form U5S (1994).
Except for additions and deletions in subsidiary companies,
the Agreement has not been amended since 1987.
The System Tax Allocation Agreement has been neither rejected
nor assumed in The Columbia Gas System, Inc. and Columbia Gas
Transmission Corporation bankruptcy proceedings. Orders of
the Bankruptcy Court have been issued allowing allocations
and payments of 1991, 1992, 1993 and 1994 taxes in accordance
with the Agreement.
<PAGE> 138
Page 1
EXHIBIT E
Copies of other documents prescribed by rule or order.
The Registrant's Chart of Accounts was filed on November 24, 1975, as
Amendment No. 1 to Form U5S (1974), modified by Amendment No. 1 to
Form U5S (1980), filed on July 10, 1981, and by Amendment No. 1 to
Form U5S (1981), filed on September 24, 1982. No changes, other than
those required by the Federal Energy Regulatory Commission, occurred
during the year 1994.
Columbia's personnel policy of general application, permitting
retirees to secure subsidiary contingent tax liabilities relating to
Pension Restoration Plan distributions, effective as of December 1,
1993, filed as Exhibit E to Form U5S (1993), is incorporated herein
by reference.
<PAGE> 139
Page 1
EXHIBIT F
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
TO THE COLUMBIA GAS SYSTEM, INC.:
We have audited the accompanying consolidated balance sheet of The Columbia Gas
System, Inc. (a Delaware corporation, the "Corporation") and subsidiaries as of
December 31, 1994, and the related statements of consolidated income, cash
flows and common stock equity for the year then ended included in the 1994
Annual Report to the Shareholders and incorporated by reference herein. These
financial statements are the responsibility of the Corporation's management.
Our responsibility is to express an opinion on these financial statements based
on our audit.
We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of the Corporation and
subsidiaries as of December 31, 1994, and the results of their operations and
their cash flows for the year then ended in conformity with generally accepted
accounting principles.
On July 31, 1991, the Corporation and Columbia Gas Transmission Corporation
("Columbia Transmission"), a wholly-owned subsidiary, filed separate petitions
seeking protection under Chapter 11 of the Federal Bankruptcy Code. Note 2 to
the consolidated financial statements discusses, among other matters,
uncertainties associated with the Chapter 11 proceedings, including the status
of the Corporation's loans to Columbia Transmission, certain prepetition
intercompany asset transfers and the measurement of certain liabilities. This
note also discusses purported class action and other complaints which have been
filed against the Corporation generally alleging violations of certain
securities laws. The accompanying financial statements do not reflect any
liability associated with these complaints as the Corporation believes it has
meritorious defenses to these actions; however, the ultimate outcome is
uncertain. As a result of these matters, the Corporation may take, or be
required to take, actions which may cause assets to be realized or liabilities
to be liquidated for amounts other than those reflected in the financial
statements. These factors create substantial doubt about the Corporation's
ability to continue as a going concern. The accompanying financial statements
have been prepared assuming that the Corporation and Columbia Transmission will
continue as going concerns which contemplate the realization of assets and
payment of liabilities in the ordinary course of business. The appropriateness
of the Corporation continuing to present financial statements on a going
concern basis is dependent upon, among other items, the terms of the ultimate
plan of reorganization and the ability to generate sufficient cash from
operations and financing sources to meet obligations.
<PAGE> 140
Page 2
As discussed in Note 5 to the consolidated financial statements, effective
January 1, 1994, the Corporation changed its method of accounting for
postemployment benefits pursuant to standards promulgated by the Financial
Accounting Standards Board.
ARTHUR ANDERSEN LLP
New York, New York
February 9, 1995
<PAGE> 141
Exhibit G
Financial Data Tables filed herewith as Exhibit 27
<PAGE> 142
Page 1
Exhibit H
Not Applicable
<PAGE> 143
Page 1
Exhibit I
Not Applicable
<PAGE> 144
Page 1
Exhibit 1-A
CERTIFICATE OF AMENDMENT OF
CERTIFICATE OF INCORPORATION OF
COLUMBIA GAS OF MARYLAND, INC.
COLUMBIA GAS OF MARYLAND, INC., a corporation organized and existing
under and by virtue of the General Corporation Law of the State of Delaware,
does hereby certify:
FIRST: That the Board of Directors of said Corporation at a meeting
thereof duly held on February 15, 1995, unanimously adopted a
resolution proposing and declaring advisable the following amendment
to the Certificate of Incorporation of said Corporation:
RESOLVED, That the Certificate of Incorporation of this Corporation as
heretofore amended, be amended to increase the authorized number of shares of
Common Stock from 320,000 to 420,000, the amendment to be effectuated by
deleting Article FOURTH of said Certificate of Incorporation and by inserting
in lieu thereof the following:
"FOURTH: The total number of shares of stock which the Corporation
shall have authority to issue is 420,000 and the par value of each of such
shares is Twenty-Five Dollars ($25), amounting in the aggregate to Ten
Million Five Hundred Thousand Dollars ($10,500,000)."
RESOLVED FURTHER, that upon the unanimous consent and agreement in
writing of the holder of all the capital stock of said Corporation, the proper
officers of this Corporation be, and hereby are, authorized and directed to
certify a copy of these Resolutions to the Secretary of State of the State of
Delaware for the purpose of carrying into effect the provisions of these
Resolutions.
SECOND: That in lieu of a meeting and vote of stockholders, the
stockholders have given written consent to said amendment in
accordance with the provisions of Section 228 of the General
Corporation Law of Delaware.
<PAGE> 145
Page 2
THIRD: That the aforesaid amendment was duly adopted in accordance
with the applicable provisions of Sections 242 and 228 of the General
Corporation Law of Delaware.
FOURTH: That the capital of the Corporation will not be reduced
under or by reason of said amendment.
IN WITNESS WHEREOF, said COLUMBIA GAS OF MARYLAND, INC., has caused
its corporate seal to be hereunto affixed and this Certificate to be signed by
C. Ronald Tilley, Chairman, and attested by Andrew J. Sonderman, its Secretary,
this 15th day of February, 1995.
COLUMBIA GAS OF MARYLAND, INC.
BY:
-------------------------------
C. Ronald Tilley, Chairman
ATTEST:
BY
-------------------------------
Andrew J. Sonderman, Secretary
<PAGE> 146
Page 1
Exhibit 2-A
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
- -------------------------------------------------------------------------------
COLUMBIA GULF TRANSMISSION COMPANY, a corporation organized and
existing under and by virtue of the General Corporation Law of the State of
Delaware,
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
consent of Directors in lieu of a meeting pursuant to Section 141(f) of the
Delaware General Corporation Law dated September 16, 1994, adopted resolutions
proposing and declaring advisable an amendment to Article FOURTH of the
Certificate of Incorporation of said Corporation as follows:
RESOLVED, that the Corporation's Board has determined that it is
advisable to amend Article Fourth of the Corporation's Certificate
in its entirety to read as follows:
"FOURTH: The total number of shares of stock which the Corporation
shall have the authority to issue is Nine Million (9,000,000), and
the par value of each of such shares is Ten Dollars ($10.00),
amounting in the aggregate to Ninety Million Dollars
($90,000,000.00)."
RESOLVED FURTHER, that the Board recommends that the Corporation's
sole stockholder, The Columbia Gas System, Inc., approve and consent
to the foregoing, proposed amendment to the Corporation's
Certificate; and
RESOLVED FURTHER, that the officers of the Corporation be, and they
hereby are, authorized to take any and all other actions necessary or
appropriate to carry out the purposes of the foregoing resolutions.
SECOND: That in lieu of a meeting and vote of stockholders, The
Columbia Gas System, Inc., being sole stockholder and owner of all outstanding
shares of the Corporation, has given its written Consent dated as of September
21, 1994, to said amendment in accordance with the provisions of Section 228(a)
of the General Corporation Laws of the State of Delaware.
<PAGE> 147
Page 2
THIRD: That the aforesaid amendment was duly adopted in accordance
with the applicable provisions of Sections 242 and 228 of the General
Corporation Law of the State of Delaware.
IN WITNESS WHEREOF:
Said Columbia Gulf Transmission Company has caused this Certificate
to be signed by Mr. R. Larry Robinson, its President and attested by Mr.
Stephen J. Small, its Secretary, this 23rd day of December, 1994.
COLUMBIA GULF TRANSMISSION COMPANY
By:
--------------------------------
President
(Corporate Seal)
ATTEST:
By:
--------------------------------
Secretary
<PAGE> 148
Page 1
Exhibit 3-A-1
CERTIFICATE OF AMENDMENT
OF
RESTATED CERTIFICATE OF INCORPORATION
* * * * *
COLUMBIA LNG CORPORATION, a corporation organized and existing under
and by virtue of the General Corporation Law of the State of Delaware,
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by the
unanimous written consent of its members dated as of January 17, 1992, filed
with the minutes of the Board, adopted a resolution proposing and declaring
advisable the following amendment to the Restated Certificate of Incorporation
of said Corporation:
RESOLVED, that the Board of Directors finds advisable and proposes to
the stockholders of the Corporation that part SEVENTH of the Restated
Certificate of Incorporation of Columbia LNG Corporation be amended
in its entirety to read as follows:
SEVENTH. For the management of the business and for the conduct of
the affairs of the Corporation, and in further definition, limitation
and regulation of the powers of the Corporation and of its directors
and stockholders, it is further provided:
1. The number of directors of the Corporation shall be such as from
time to time shall be fixed by, or in the manner provided in, the
By-Laws, but in no case shall the number be less than eight (8). The
directors need not be stockholders.
2. The Board of Directors shall have the authorities and shall be
subject to the limitations as are provided in the By-Laws.
SECOND: That in lieu of a meeting and vote of stockholders, the
stockholders have given unanimous written consent dated as of January 17, 1992
to said amendment in accordance with the provisions of Section 228 of the
General Corporation Law of the State of Delaware.
<PAGE> 149
Page 2
- 2 -
THIRD: That the aforesaid amendment was duly adopted in accordance
with the applicable provisions of Sections 242 and 228 of the General
Corporation Law of the State of Delaware.
IN WITNESS WHEREOF, said Columbia LNG Corporation has caused this
certificate to be signed by Mr. L. Michael Bridges, its President and attested
by Mr. James B. Lange, its Assistant Secretary, this 31st day of January, 1992.
COLUMBIA LNG CORPORATION
By
-------------------------
President
ATTEST:
By
-------------------------
Assistant Secretary
<PAGE> 150
Page 1
Exhibit 3-A-2
CERTIFICATE OF AMENDMENT
OF
RESTATED CERTIFICATE OF INCORPORATION
* * * * *
COLUMBIA LNG CORPORATION, a corporation organized and existing under
and by virtue of the General Corporation Law of the State of Delaware,
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by the
unanimous written consent of its members dated as of September 21, 1992, filed
with the minutes of the Board, adopted a resolution proposing and declaring
advisable the following amendments to the Restated Certificate or Incorporation
of said Corporation:
RESOLVED, that this Board of Directors finds
advisable and hereby proposes to the Stockholders of the
Corporation that part SEVENTH of the Restated Certificate of
Incorporation of Columbia LNG Corporation be hereby amended
in its entirety to read as follows:
"SEVENTH. For the management of the business and for the
conduct of the affairs of the Corporation, and in further
definition, limitation and regulation of the powers of the
Corporation and of its directors and stockholders, it is
further provided:
1. The number of directors of the Corporation shall be
as from time to time shall be fixed by, or in the
manner provided in, the By-Laws, and in no case
shall the number be less than three (3). The
directors need not be stockholders of the
Corporation.
2. In furtherance, and not in limitation, of the powers
conferred by statute, the Board of Directors is
expressly authorized:
<PAGE> 151
Page 2
- 2 -
(a) to make, alter or repeal by-laws of the
Corporation, subject to the power of
the stockholders of the Corporation to
alter or repeal any by-laws whether
adopted by the stockholders or
otherwise.
(b) to exercise the powers and authorities
as are provided in the By-Laws then in
effect, subject to applicable
limitations as provided in such
By-Laws."
RESOLVED, FURTHER that part NINTH of Restated
Certificate of Incorporation of Columbia LNG Corporation is
hereby amended in its entirety to read as follows:
"NINTH: Corporation reserves the right to restate this
Certificate of Incorporation and to amend, alter, change or
repeal any provision contained in this Certificate of
Incorporation in the manner now or hereafter prescribed by
law, and all rights and powers conferred herein on
stockholders, directors and officers are subject to this
reserved power."
SECOND: That in lieu of a meeting and vote of stockholders, the
stockholders have given unanimous written consent dated as of October 30, 1992,
to said amendments in accordance with the provisions of Section 228 of the
General Corporate Law of the State of Delaware.
THIRD: That the aforesaid amendments were duly adopted in
accordance with the applicable provisions of Sections 242 and 228 of the
General Corporation Law of the State of Delaware.
IN WITNESS WHEREOF: said Columbia LNG Corporation has caused this
certificate to be signed by Mr. L. Michael Bridges, its President and attested
by Mr. Tejinder S. Bindra, its Secretary this 2cd day of November , 1992.
Columbia LNG Corporation
By
------------------------
President
ATTEST:
By
--------------------------
Secretary
<PAGE> 152
Page 1
Exhibit 3-A-3
CERTIFICATE OF AMENDMENT
OF
RESTATED CERTIFICATE OF INCORPORATION
==============================================================================
COLUMBIA LNG CORPORATION, a corporation organized and existing under
and by virtue of the General Corporation Law of the State of Delaware,
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
vote at a regular meeting duly called and held on December 10, 1993, adopted
resolutions proposing and declaring advisable an amendment to Part FOURTH of
the Restated Certificate of Incorporation of said Corporation as follows:
RESOLVED, that the Board of Directors finds advisable and
hereby proposes to the stockholders of the Corporation that part
FOURTH of the Restated Certificate of Incorporation of the
Corporation be amended in its entirety to read as follows:
FOURTH. The Corporation is authorized to issue only one
class of stock, to wit: Common Stock. The total number of
shares of Common Stock which the Corporation shall have
authority to issue is Ten Million Four Hundred Thousand
(10,400,000) all of which are to have a par value of One
Dollar ($1.00) per share.
RESOLVED, FURTHER, that the foregoing amendment is advisable
and its adoption is in the best interests of the Corporation and its
stockholders and, to effectuate the foregoing, it is hereby directed
that the foregoing amendment be considered at the next annual meeting
of the stockholders, unless earlier approved by written consent in
accordance with Section 228 of the Delaware General Corporation Law;
RESOLVED, FURTHER, that after approval of such amendments by
the stockholders of the Corporation and receipt of all necessary
regulatory approvals, the officers of the Corporation be, and they
hereby are, authorized and directed to execute, acknowledge and file
with the Secretary of State of the State of Delaware a Certificate of
Amendment to evidence the foregoing amendments to the Corporation's
Restated Certificate of Incorporation; and
RESOLVED, FURTHER, that upon the filing of the Certificate
of Amendment referred to in the foregoing resolution, each issued an
outstanding share of the Common Stock of the Corporation, par value
$25 per share, shall, without the exchange of stock certificates or
the taking of any other action, be reclassified to be the same number
of shares of Common Stock of the Corporation, par value $1.00 per
share, provided, however, that upon the surrender by any stockholder
of certificates of the Corporation's Common Stock bearing the $25 per
share par
<PAGE> 153
Page 2
value designation, the officers of the Corporation be, and they
hereby are, authorized and directed to issue in exchange therefor one
or more new certificates for the same number of shares represented by
such surrendered certificates and indicating the $1.00 per share par
value thereof.
SECOND: That in lieu of a meeting and vote of stockholders, The
Columbia Gas System, Inc., being the holder of outstanding stock of the
Corporation having not less than the minimum number of votes that would be
necessary to authorize or take action at a meeting at which all shares entitled
to vote thereon were present and voted, has given its written Consent dated as
of June 8, 1994, to said amendments in accordance with the provisions of
Section 228(a) of the General Corporation Laws of the State of Delaware, and
has, pursuant to Section 228(d) thereof, provided notice of such action to the
Corporation's other stockholder.
THIRD: That the aforesaid amendments were duly adopted in accordance
with the applicable provisions of Sections 242 and 228 of the General
Corporation Law of the State of Delaware.
IN WITNESS WHEREOF:
Said Columbia LNG Corporation has caused this Certificate to be
signed by Mr. L. Michael Bridges, its President and attested by Mr. Tejinder
S. Bindra, its Secretary, this 10th day of June, 1994.
COLUMBIA LNG CORPORATION
By:
-------------------------------
President
[Corporate Seal]
ATTEST:
By:
-----------------------------
Secretary
<PAGE> 154
Page 1
Exhibit 3-A-4
CERTIFICATE OF AMENDMENT
OF
RESTATED CERTIFICATE OF INCORPORATION
OF
COLUMBIA LNG CORPORATION
==============================================================================
COLUMBIA LNG CORPORATION, a corporation organized and existing under
and by virtue of the General Corporation Law of the State of Delaware,
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation (the "Board"),
by unanimous vote at a regular meeting duly called and held on March 7, 1995,
adopted resolutions proposing and declaring advisable an amendment to Part
FOURTH of the Restated Certificate of Incorporation of said Corporation as
follows:
RESOLVED, that the Board of Directors finds advisable and
hereby proposes to the stockholders of the Corporation that part
FOURTH of the Restated Certificate of Incorporation of the
Corporation be amended in its entirety to read as follows:
FOURTH. The Corporation is authorized to issue only one (1)
class of stock, to wit: Common Stock. The total number of
shares of Common Stock which the Corporation shall have
authority to issue is Ten Thousand, Four Hundred (10,400)
all of which are to have a par value of One Dollar ($1.00)
per share.
Effective at the time of the filing of the Certificate of
Amendment setting forth this amendment to the certificate of
incorporation (the "Effective Time"), each share of the
Common Stock of the Corporation, par value $1.00 per share,
issued and outstanding or held in treasury immediately prior
to the Effective Time shall, without the exchange of stock
certificates or the taking of any other action on the part
of the Corporation or the respective holders thereof, be
reclassified into one thousandth (1/1,000th) of a share of
Common Stock of the Corporation, par value $1.00 per share,
and each stock certificate that, immediately prior to the
Effective Time, represented shares of such Common Stock
shall, from and after the Effective Time, and without the
necessity of presenting the same for exchange, represent one
thousandth (1/1,000th) of the number of shares designated on
such stock certificate, provided, however, that after the
Effective Time, upon the surrender by any stockholder of
certificates bearing the number of shares of the
Corporation's Common Stock represented by such certificate
prior to the Effective Time, the officers of the Corporation
be, and they hereby are, authorized and directed to issue in
exchange therefor one or more new certificates bearing the
number of reclassified shares of the Corporation's Common
Stock.
SECOND: That thereafter, by resolution, the Board declared said
amendment to be advisable and its adoption to be in the best interests of the
Corporation and its stockholders and, to effectuate the foregoing, the Board
directed that said amendment be considered at the next annual meeting of the
stockholders, unless earlier approved by written consent in accordance with
Section 228 of the Delaware General Corporation Law.
THIRD: That in lieu of a meeting and vote of the stockholders, The
Columbia Gas System, Inc., being the holder of the outstanding stock of the
Corporation having not less than the minimum number of votes that would be
necessary to authorize or take action at a meeting at which all shares entitled
to vote thereon were present and voted, approved said amendment by written
Consent dated as of March 13, 1995, in accordance with the provisions of
Section 228(a) of the General Corporation Laws of the State of Delaware, and
the Corporation has, pursuant to Section 228(d) thereof, provided notice of
such action to the Corporation's other stockholder.
<PAGE> 155
Page 2
FOURTH: That said amendment was duly adopted in accordance with the
applicable provisions of Sections 242 and 228 of the General Corporation Law of
the State of Delaware.
IN WITNESS WHEREOF, Columbia LNG Corporation has caused this
Certificate to be signed by Mr. L. Michael Bridges, its President and attested
by Mr. Tejinder S. Bindra, its Secretary, this 13th day of April, 1995.
By:
-------------------------------
President
ATTEST:
-----------------------------
Secretary
<PAGE> 156
Page 1
Exhibit 3-B
COLUMBIA LNG CORPORATION
*****
BY-LAWS
*****
ARTICLE I
OFFICES
Section 1. The registered office shall be in the City of
Wilmington, County of New Castle, State of Delaware.
Section 2. The corporation may also have offices at such other
places both within and without the State of Delaware as the Board of Directors
may from time to time determine or the business of the corporation may require.
ARTICLE II
MEETINGS OF STOCKHOLDERS
Section 1. All meetings of the stockholders for the
election of directors shall be held in the County of New Castle, State of
Delaware, at such place as may be fixed from time to time by the Board of
Directors, or at such other place either within or without the State of
Delaware as shall be designated from time to time by the Board of Directors and
stated in the notice of the meeting. Meetings of stockholders for any other
purpose may be held at such time and place, within or without the State of
Delaware, as shall be stated in the notice of the meeting or in a duly executed
waiver of notice thereof.
Section 2. Annual meetings of stockholders shall be held on the
first Monday of June if not a legal holiday, and if a legal holiday, then on
the next secular day following, at 10:00 A.M., or at such other date and time
as shall be designated from time to time by the Board of Directors and stated
in the notice of the meeting, at which they shall elect by a plurality vote a
Board of Directors, and transact such other business as may properly be brought
before the meeting.
Section 3. Written notice of the annual meeting stating the place,
date and hour of the meeting shall be given to each stockholder entitled to
vote at such meeting not less than ten nor more than sixty days before the date
of the meeting.
<PAGE> 157
Page 2
Section 4. The officer who has charge of the stock ledger of the
corporation shall prepare and make, at least ten days before every meeting of
stockholders, a complete list of the stockholders entitled to vote at the
meeting, arranged in alphabetical order, and showing the address of each
stockholder and the number of shares registered in the name of each
stockholder. Such list shall be open to the examination of any stockholder,
for any purpose germane to the meeting, during ordinary business hours, for a
period of at least ten days prior to the meeting, either at a place within the
city where the meeting is to be held, which place shall be specified in the
notice of the meeting, or, if not so specified, at the place where the meeting
is to be held. The list shall also be produced and kept at the time and place
of the meeting during the whole time thereof, and may be inspected by any
stockholder who is present.
Section 5. Special meetings of the stockholders, for any purpose or
purposes, unless otherwise prescribed by statute or by the certificate of
incorporation, may be called by the president and shall be called by the
president or secretary at the request in writing of a majority of the Board of
Directors, or at the request in writing of stockholders owning a majority in
amount of the entire capital stock of the corporation issued and outstanding
and entitled to vote. Such request shall state the purpose or purposes of the
proposed meeting.
Section 6. Written notice of a special meeting stating the place,
date and hour of the meeting and the purpose or purposes for which the meeting
is called, shall be given not less than ten nor more than sixty days before the
date of the meeting, to each stockholder entitled to vote at such meeting.
Section 7. Business transacted at any special meeting of the
stockholders shall be limited to the purposes stated in the notice.
Section 8. The holders of a majority of the stock issued and
outstanding and entitled to vote thereat, present in person or represented by
proxy, shall constitute a quorum at all meetings of the stockholders for the
transaction of business except as otherwise provided by statute or by the
certificate of incorporation. If, however, such quorum shall not be present or
represented at any meeting of the stockholders, the stockholders entitled to
vote thereat, present in person or represented by proxy, shall have power to
adjourn the meeting from time to time, without notice other than announcement
at the meeting, until a quorum shall be present or represented. At such
adjourned meeting, at which a quorum shall be present or represented, any
business may be transacted which might have been transacted at the meeting as
originally notified. If the adjournment is for more than thirty days, or if
after the adjournment a new record date is fixed for the adjourned meeting, a
notice of the adjourned meeting shall be given to each stockholder of record
entitled to vote at the meeting.
CLG.BYL
December 21, 1994
<PAGE> 158
Page 3
Section 9. When a quorum is present at any meeting, the vote of the
holders of a majority of the stock having voting power present in person or
represented by proxy shall decide any question brought before such meeting,
unless the question is one upon which by express provision of statute or of the
certificate of incorporation, a different vote is required in which case such
express provision shall govern and control the decision of such question.
Section 10. Unless otherwise provided in the certificate of
incorporation, each stockholder shall at every meeting of the stockholders be
entitled to one vote in person or by proxy for each share of the capital stock
having voting power held by such stockholder, but no proxy shall be voted on
after three years from its date, unless the proxy provides for a longer period.
Section 11. Unless otherwise provided in the certificate of
incorporation, any action required to be taken at any annual or special meeting
of stockholders of the corporation, or any action which may be taken at any
annual or special meeting of such stockholders, may be taken without a meeting,
without prior notice and without a vote, if a consent in writing, setting forth
the action so taken, shall be signed by the holders of outstanding stock having
not less than the minimum number of votes that would be necessary to authorize
or take such action at a meeting at which all shares entitled to vote thereon
were present and voted. Prompt notice of the taking of the corporate action
without a meeting by less than unanimous written consent shall be given to
those stockholders who have not consented in writing.
ARTICLE III
DIRECTORS
Section 1. The number of directors which shall constitute the whole
Board shall be not less than four nor more than ten. The number of directors
shall be determined by resolution of the Board of Directors or by the
stockholders at the annual meeting. The directors shall be elected at the
annual meeting of the stockholders, except as provided in Section 2 of this
Article, and each director elected shall hold office until his successor is
elected and qualified. Directors need not be stockholders.
Section 2. Vacancies and newly created directorships resulting from
any increase in the authorized number of directors may be filled by a majority
of the directors then in office, though less than a quorum, or by a sole
remaining director, and the directors so chosen shall hold office until the
next annual election and until their successors are duly elected and shall
qualify, unless sooner displaced. If there are no directors in office, then an
election of directors may be held in the manner provided by statute.
CLG.BYL
December 21, 1994
<PAGE> 159
Page 4
Section 3. The business of the corporation shall be managed by its
Board of Directors which may exercise all such powers of the corporation and do
all such lawful acts and things as are not by statute or by the certificate of
incorporation or by these by-laws directed or required to be exercised or done
by the stockholders.
MEETINGS OF THE BOARD OF DIRECTORS
Section 4. The Board of Directors of the corporation may hold
meetings, both regular and special, either within or without the State of
Delaware.
Section 5. The first meeting of each newly elected Board of
Directors shall be held at such time and place as shall be fixed by the vote of
the stockholders at the annual meeting and no notice of such meeting shall be
necessary to the newly elected directors in order legally to constitute the
meeting, provided a quorum shall be present. In the event of the failure of
the stockholders to fix the time or place of such first meeting of the newly
elected Board of Directors, or in the event such meeting is not held at the
time and place so fixed by the stockholders, the meeting may be held at such
time and place as shall be specified in a notice given as hereinafter provided
for special meetings of the Board of Directors, or as shall be specified in a
written waiver signed by all of the Directors.
Section 6. Regular meetings of the Board of Directors may be held
without notice at such time and at such place as shall from time to time be
determined by the Board.
Section 7. Special meetings of the Board may be called by the
president, the secretary or any assistant secretary on six hours' notice to
each director, either personally or by mail or by telegram; special meetings
shall be called by the president, the secretary or an assistant secretary in
like manner and on like notice on the written request of two directors.
Section 8. At all meetings of the Board, a majority of the directors
shall constitute a quorum for the transaction of business, and the act of a
majority of the directors present at any meeting at which there is a quorum
shall be the act of the Board of Directors, except as may be otherwise
specifically provided by statute or by the certificate of incorporation. If a
quorum shall not be present at any meeting of the Board of Directors, the
directors present thereat may adjourn the meeting from time to time, without
notice other than announcement at the meeting, until a quorum shall be present.
CLG.BYL
December 21, 1994
<PAGE> 160
Page 5
Section 9. Unless otherwise restricted by the certificate of
incorporation or these by-laws, any action required or permitted to be taken at
any meeting of the Board of Directors or of any committee thereof may be taken
without a meeting, if all members of the Board or committee, as the case may
be, consent thereto in writing, and the writing or writings are filed with the
minutes of proceedings of the Board or committee.
Section 10. Unless otherwise restricted by the certificate of
incorporation or these by-laws, members of the Board of Directors, or any
committee designated by the Board of Directors, may participate in a meeting of
the Board of Directors, or any committee, by means of conference telephone or
similar communications equipment by means of which all persons participating in
the meeting can hear each other, and such participation in a meeting shall
constitute presence in person at the meeting.
COMMITTEES OF DIRECTORS
Section 11. The Board of Directors may, by resolution passed by a
majority of the whole Board, designate one or more committees, each committee
to consist of one or more of the directors of the corporation. The Board may
designate one or more directors as alternate members of any committee, who may
replace any absent or disqualified member at any meeting of the committee. In
the absence or disqualification of a member of a committee, the member or
members thereof present at any meeting and not disqualified from voting,
whether or not he or they constitute a quorum, may unanimously appoint another
member of the Board of Directors to act at the meeting in the place of any such
absent or disqualified member. Any such committee, to the extent provided in
the resolution of the Board of Directors, shall have and may exercise all the
powers and authority of the Board of Directors in the management of the
business and affairs of the corporation, and may authorize the seal of the
corporation to be affixed to all papers which may require it; but no such
committee shall have the power or authority in reference to amending the
certificate of incorporation, adopting an agreement of merger or consolidation,
recommending to the stockholders the sale, lease or exchange of all or
substantially all of the corporation's property and assets, recommending to the
stockholders a dissolution of the corporation or a revocation of a dissolution,
or amending the by-laws of the corporation; and, unless the resolution or the
certificate of incorporation expressly so provide, no such committee shall have
the power or authority to declare a dividend or to authorize the issuance of
stock. Such committee or committees shall have such name or names as may be
determined from time to time by resolution adopted by the Board of Directors.
Section 12. Each committee shall keep regular minutes of its
meetings and report the same to the Board of Directors.
CLG.BYL
December 21, 1994
<PAGE> 161
Page 6
COMPENSATION OF DIRECTORS
Section 13. Unless otherwise restricted by the certificate of
incorporation or these by-laws, the Board of Directors shall have the authority
to fix the compensation of directors. The directors may be paid their
expenses, if any, of attendance at each meeting of the Board of Directors and
may be paid a fixed sum for attendance at each meeting of the Board of
Directors or a stated salary as director. No such payment shall preclude any
director from serving the corporation in any other capacity and receiving
compensation therefor. Members of special or standing committees may be
allowed like compensation for attending committee meetings.
ARTICLE IV
NOTICES
Section 1. Whenever, under the provisions of applicable statute or
of the certificate of incorporation or of these by-laws, notice is required to
be given to any director or stockholder, it shall not be construed to mean
personal notice, but such notice may be given in writing, by mail, addressed to
such director or stockholder, at his address as it appears on the records of
the corporation, with postage thereon prepaid, and such notice shall be deemed
to be given at the time when the same shall be deposited in the United States
mail. Notice to directors may also be given by telegram, data fax, or other
similar method of transmitting a written communication.
Section 2. Whenever any notice is required to be given under the
provisions of applicable statute or of the certificate of incorporation or of
these by-laws, a waiver thereof in writing, signed by the person or persons
entitled to said notice, whether before or after the time stated therein, shall
be deemed equivalent thereto.
ARTICLE V
OFFICERS
Section 1. The officers of the corporation shall be chosen by the
Board of Directors and shall be a president and at least one of the following:
a secretary, a treasurer and/or a controller. The Board of Directors may also
choose vice-presidents and
CLG.BYL
December 21, 1994
<PAGE> 162
Page 7
one or more assistant secretaries and assistant treasurers and/or assistant
controllers. Any number of offices may be held by the same person, unless the
certificate of incorporation or these by-laws otherwise provide.
Section 2. The Board of Directors at its first meeting after each
annual meeting of stockholders shall choose a president and at least one of the
following: a secretary, treasurer and/or a controller.
Section 3. The Board of Directors may appoint such other officers
and agents as it shall deem necessary who shall hold their offices for such
terms and shall exercise such powers and perform such duties as shall be
determined from time to time by the Board.
Section 4. The salaries of all officers and agents of the
corporation shall be fixed by the Board of Directors.
Section 5. The officers of the corporation shall hold office until
their successors are chosen and qualify. Any officer elected or appointed by
the Board of Directors may be removed at any time by the affirmative vote of a
majority of the Board of Directors. Any vacancy occurring in any office of the
corporation shall be filled by the Board of Directors.
THE PRESIDENT AND VICE PRESIDENTS
Section 6. The president shall be the chief executive officer of the
corporation, shall preside at all meetings of the stockholders and the Board of
Directors, shall have general and active management of the business of the
corporation and shall see that all orders and resolutions of the Board of
Directors are carried into effect.
Section 7. The president shall execute bonds, mortgages and other
contracts requiring a seal, under the seal of the corporation, except where
required or permitted by law to be otherwise signed and executed and except
where the signing and execution thereof shall be expressly delegated by the
Board of Directors to some other officer or agent of the corporation.
Section 8. The vice president, or if there be more than one, the
vice presidents in the order determined by the Board of Directors (or if there
be no such determination, then in the order of their election), shall perform
such duties and exercise such powers as the Board of Directors may from time to
time prescribe.
CLG.BYL
December 21, 1994
<PAGE> 163
Page 8
THE SECRETARY AND ASSISTANT SECRETARIES
Section 9. The secretary shall attend all meetings of the Board of
Directors and all meetings of the stockholders and record all the proceedings
of the meetings of the corporation and of the Board of Directors in a book to
be kept for that purpose and shall perform like duties for the standing
committees when required. He shall give, or cause to be given, notice of all
meetings of the stockholders and special meetings of the Board of Directors,
and shall perform such other duties as may be prescribed by the Board of
Directors or president, under whose supervision he shall be. He shall have
custody of the corporate seal of the corporation and he, or an assistant
secretary, shall have authority to affix the same to any instrument requiring
it and when so affixed, it may be attested by his signature or by the signature
of such assistant secretary. The Board of Directors may give general authority
to any other officer to affix the seal of the corporation and to attest the
affixing by his signature.
Section 10. An assistant secretary, or if there be more than one,
the assistant secretaries in the order determined by the Board of Directors (or
if there be no such determination, then in the order of their election), shall,
in the absence of the secretary or in the event of his inability or refusal to
act, perform the duties and exercise the powers of the secretary and shall
perform such other duties and have such other powers as the Board of Directors
may from time to time prescribe.
THE TREASURER/CONTROLLER AND ASSISTANT TREASURERS/CONTROLLERS
Section 11. The treasurer and/or controller, or as directed by the
Board of Directors, one or more assistant treasurers and/or assistant
controllers shall have the custody of the corporate funds and securities and
shall keep full and accurate accounts of receipts and disbursements in books
belonging to the corporation and shall deposit all moneys and other valuable
effects in the name and to the credit of the corporation in such depositories
as may be designated by the Board of Directors.
Section 12. The treasurer and/or controller or, as directed by the
Board of Directors, one or more assistant treasurers and/or assistant
controllers shall disburse the funds of the corporation as may be ordered by
the Board of Directors, taking proper vouchers for such disbursements, and
shall render to the president and the Board of Directors, at its regular
meetings, or when the Board of Directors so requires, an account of all
his/their transactions as treasurer/assistant treasurer and/or as
controller/assistant controller and of the financial condition of the
corporation.
CLG.BYL
December 21, 1994
<PAGE> 164
Page 9
Section 13. If required by the Board of Directors, the treasurer or
an assistant treasurer and/or the controller or an assistant controller shall
give the corporation a bond (which shall be renewed every six years) in such
sum and with such surety or sureties as shall be satisfactory to the Board of
Directors for the faithful performance of the duties of their offices and for
the restoration to the corporation, in case of their death, resignation,
retirement or removal from office, of all books, papers, vouchers, money and
other property of whatever kind in their possession or under their control
belonging to the corporation.
Section 14. The assistant treasurer and/or assistant controller, or
if there shall be more than one, the assistant treasurers and/or assistant
controllers in the order determined by the Board of Directors (or if there be
no such determination, then in the order of their election), shall, in the
absence of the treasurer and/or controller or in the event of his inability or
refusal to act, perform the duties and exercise the powers of the treasurer
and/or controller and shall perform such other duties and have such other
powers as the Board of Directors may from time to time prescribe.
ARTICLE VI
CERTIFICATES OF STOCK
Section 1. Every holder of stock in the corporation shall be
entitled to have a certificate, signed by, or in the name of the corporation,
by the president or the vice president and by the treasurer or an assistant
treasurer and/or the controller or an assistant controller, or by the secretary
or an assistant secretary of the corporation, certifying the number of shares
owned by him in the corporation.
Section 2. Any of or all the signatures on the certificate may be
facsimile. In case any officer, transfer agent or registrar who has signed or
whose facsimile signature has been placed upon a certificate shall have ceased
to be such officer, transfer agent or registrar before such certificate is
issued, it may be issued by the corporation with the same effect as if he were
such officer, transfer agent or registrar at the date of issue.
LOST CERTIFICATES
Section 3. The Board of Directors may direct a new certificate or
certificates to be issued in place of any certificate or certificates
theretofore issued by the corporation alleged to have been lost, stolen or
destroyed, upon the making of an affidavit of that fact by the person claiming
the certificate of stock to be lost, stolen or destroyed. When authorizing
such issue of a new
CLG.BYL
December 21, 1994
<PAGE> 165
Page 10
certificate or certificates, the Board of Directors may, in its discretion and
as a condition precedent to the issuance thereof, require the owner of such
lost, stolen or destroyed certificate or certificates, or his legal
representative, to advertise the same in such manner as it shall require and/or
to give the corporation a bond in such sum as it may direct as indemnity
against any claim that may be made against the corporation with respect to the
certificate alleged to have been lost, stolen or destroyed.
TRANSFERS OF STOCK
Section 4. Upon surrender to the corporation or the transfer agent
of the corporation of a certificate for shares duly endorsed or accompanied by
proper evidence of succession, assignment or authority to transfer, it shall be
the duty of the corporation to issue a new certificate to the person entitled
thereto, cancel the old certificate and record the transaction upon its books.
FIXING RECORD DATE
Section 5. In order that the corporation may determine the
stockholders entitled to notice of or to vote at any meeting of stockholders or
any adjournment thereof, or to express consent to corporate action in writing
without a meeting, or entitled to receive payment of any dividend or other
distribution or allotment of any rights, or entitled to exercise any rights in
respect of any change, conversion or exchange of stock or for the purpose of
any other lawful action, the Board of Directors may fix, in advance, a record
date, which shall not be more than sixty nor less than ten days before the date
of such meeting, nor more than sixty days prior to any other action. A
determination of stockholders of record entitled to notice of or to vote at a
meeting of stockholders shall apply to any adjournment of the meeting;
provided, however, that the Board of Directors may fix a new record date for
the adjourned meeting.
REGISTERED STOCKHOLDERS
Section 6. The corporation shall be entitled to recognize the
exclusive right of a person registered on its books as the owner of shares to
receive dividends, and to vote as such owner, and to hold liable for calls and
assessments a person registered on its books as the owner of shares, and shall
not be bound to recognize any equitable or other claim to or interest in such
share or shares on the part of any other person, whether or not it shall have
express or other notice thereof, except as otherwise provided by the laws of
the State of Delaware.
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ARTICLE VII
GENERAL PROVISIONS
DIVIDENDS
Section 1. Dividends upon the capital stock of the corporation,
subject to the provisions of the certificate of incorporation, if any, may be
declared by the Board of Directors at any regular or special meeting, pursuant
to law. Dividends may be paid in cash, in property, or in shares of the
capital stock, subject to the provisions of the certificate of incorporation.
Section 2. Before payment of any dividend, there may be set aside
out of any funds of the corporation available for dividends such sum or sums as
the directors from time to time, in their absolute discretion, think proper as
a reserve or reserves to meet contingencies, or for equalizing dividends, or
for repairing or maintaining any property of the corporation, or for such other
purpose as the directors shall think conducive to the interest of the
corporation, and the directors may modify or abolish any such reserve in the
manner in which it was created.
CHECKS
Section 3. All checks or demands for money and notes of the
corporation shall be signed by such officer or officers or such other person or
persons as the Board of Directors may from time to time designate.
FISCAL YEAR
Section 4. The fiscal year of the corporation begins on the first
day of January and ends on the thirty-first day of December in each year.
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SEAL
Section 5. The corporate seal shall have inscribed thereon the name
of the corporation, the year of its organization and the words "Corporate Seal,
Delaware." The seal may be used by causing it or a facsimile thereof to be
impressed or affixed or reproduced or otherwise.
ARTICLE VIII
INDEMNIFICATION
(a) Right to Indemnification. The Corporation shall to the
fullest extent permitted by applicable law as then in effect indemnify any
person (the "Indemnitee") who was or is involved in any manner (including,
without limitation, as a party or a witness) or is threatened to be made so
involved in any threatened, pending or completed investigation, claim, action,
suit or proceeding, whether civil, criminal, administrative or investigative
(including without limitation, any action, suit or proceeding by or in the
right of the Corporation to procure a judgment in its favor) (a "Proceeding")
by reason of the fact that such person is or was a director, officer, employee
or agent of the Corporation, or is or was serving at the request of the
Corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise (including, without
limitation, any employee benefit plan) against all expenses (including
attorneys' fees), judgments, fines and amounts paid in settlement actually and
reasonably incurred by such person in connection with such Proceeding. Such
indemnification shall be a contract right and shall include the right to
receive payment of any expenses incurred by the Indemnitee in connection with
such Proceeding in advance of its final disposition, consistent with the
provisions of applicable law as then in effect.
(b) Insurance, Contracts and Funding. The Corporation may
purchase and maintain insurance to protect itself and any indemnitee against
any expenses, judgments, fines and amounts paid in settlement as specified in
Section (a) of this Article VIII or incurred by an Indemnitee in connection
with any proceeding referred to in Section (a) of this Article VIII, to the
fullest extent permitted by applicable law as then in effect. The Corporation
may enter into contracts with any director, officer, employee or agent of the
Corporation or use other means in furtherance of the provisions of this Article
VIII to ensure the payment of such amounts as may be necessary to effect
indemnification as provided in this Article VIII.
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(c) Indemnification; Not Exclusive Right. The right of
indemnification provided in this Article VIII shall not be exclusive of any
other rights to which those seeking indemnification may otherwise be entitled,
and the provisions of this Article VIII shall inure to the benefit of the heirs
and legal representatives of any person entitled to indemnity under this
Article VIII and shall be applicable to Proceedings commenced or continuing
after the adoption of this Article VIII, whether arising from acts or omissions
occurring before or after such adoption.
(d) Advancement of Expenses; Procedures; Presumptions and
Effect of Certain Proceedings; Remedies. In furtherance but not in limitation
of the foregoing provisions, the following procedures, presumptions and
remedies shall apply with respect to advancement of expenses and the right to
indemnification under this Article VIII:
(1) Advance of Expenses. All reasonable expenses incurred
by or on behalf of the Indemnitee in connection with any Proceeding shall be
advanced to the Indemnitee by the Corporation within 20 days after the receipt
by the Corporation of a statement or statements from the Indemnitee requesting
such advance or advances from time to time, whether prior to or after final
disposition of such Proceeding. Such statement or statements shall reasonably
evidence the expenses incurred by the Indemnitee and, if required by law at the
time of such advance, shall include or be accompanied by an undertaking by or
on behalf of the Indemnitee to repay the amounts advanced if it should
ultimately be determined that the Indemnitee is not entitled to be indemnified
against such expenses pursuant to this Article VIII.
(2) Procedure for Determination of Entitlement to
Indemnification.
(i) To obtain indemnification under this Article VIII, an
Indemnitee shall submit to the Secretary of the Corporation a written request,
including such documentation and information as is reasonably available to the
Indemnitee and reasonably necessary to determine whether and to what extent the
Indemnitee is entitled to indemnification (the "Supporting Documentation").
The determination of the Indemnitee's entitlement to indemnification shall be
made not later than 60 days after receipt by the Corporation of the written
request for indemnification together with Supporting Documentation. The
Secretary of the Corporation shall advise the Board of Directors in writing,
promptly upon receipt of such a request for indemnification, that the
Indemnitee has requested indemnification.
(ii) The Indemnitee's entitlement to indemnification under
this Article VIII shall be determined in one of the following ways: (A) by a
majority vote of the Disinterested Directors (as hereinafter defined), if they
constitute a quorum of the Board of Directors; (B) by a written opinion of
Independent Counsel (as hereinafter defined) if (x) a Change of Control (as
hereinafter defined) shall have occurred and the Indemnitee so requests or (y)
a quorum of the Board of Directors consisting of
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Disinterested Directors is not obtainable or, even if obtainable, a majority of
such Disinterested Directors so directs; (C) by the stockholders of the
Corporation (but only if a majority of the Disinterested Directors, if they
constitute a quorum of the Board of Directors, present the issue of entitlement
to indemnification to the stockholders for their determination); or (D) as
provided in Section (d)(3).
(iii) In the event the determination of entitlement to
indemnification is to be made by Independent Counsel pursuant to Section
(d)(2)(ii), a majority of the Board of Directors shall select the Independent
Counsel, but only an Independent Counsel to which the Indemnitee does not
reasonably object; provided, however, that if a Change of Control shall have
occurred, the Indemnitee shall select such Independent Counsel, but only an
Independent Counsel to which the Board of Directors does not reasonably object.
(iv) The only basis upon which a finding of no entitlement
to indemnification may be made is that indemnification is prohibited by law.
(3) Presumptions and Effect of Certain Proceedings.
Except as otherwise expressly provided in this Article VIII, if a Change of
Control shall have occurred, the Indemnitee shall be presumed to be entitled to
indemnification under this Article VIII upon submission of a request for
indemnification together with the Supporting Documentation in accordance with
Section (d)(2)(i), and thereafter the Corporation shall have the burden of
proof to overcome that presumption in reaching a contrary determination. In
any event, if the person or persons empowered under Section (d)(2) to determine
entitlement to indemnification shall not have been appointed or shall not have
made a determination within 60 days after receipt by the Corporation of the
request therefor together with the Supporting Documentation, the Indemnitee
shall be deemed to be entitled to indemnification, and the Indemnitee shall be
entitled to such indemnification unless (a) the Indemnitee misrepresented or
failed to disclose a material fact in making the request for indemnification or
in the Supporting Documentation or (B) such indemnification is prohibited by
law. The termination of any Proceeding described in Section (a), or of any
claim, issue or matter therein, by judgment, order, settlement or conviction,
or upon a plea of nolo contendere or its equivalent, shall not of itself
adversely affect the right of the Indemnitee to indemnification or create a
presumption that the Indemnitee did not act in good faith and in a manner which
the Indemnitee reasonably believed to be in or not opposed to the best
interests of the Corporation or, with respect to any criminal Proceeding, that
the Indemnitee had reasonable cause to believe that the Indemnitee's conduct
was unlawful.
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(4) Remedies of Indemnitee.
(i) In the event that a determination is made
pursuant to Section (d)(2) or (3) that the Indemnitee is not
entitled to indemnification under this Article VIII, (A) the
Indemnitee shall be entitled to seek an adjudication of his
entitlement to such indemnification either, at the
Indemnitee's sole option, in (x) an appropriate court of the
State of Delaware or any other court of competent
jurisdiction or (y) an arbitration to be conducted by a
single arbitrator pursuant to the rules of the American
Arbitration Association; (B) any such judicial proceeding or
arbitration shall be de novo and the Indemnitee shall not be
prejudiced by reason of such adverse determination; and (C)
in any such judicial proceeding or arbitration, the
Corporation shall have the burden of proving that the
Indemnitee is not entitled to indemnification under this
Article VIII.
(ii) If pursuant to Section (d)(2) or (3) a
determination shall have been made or deemed to have been
made that the Indemnitee is entitled to indemnification, the
Corporation shall be obligated to pay the amounts
constituting such indemnification within five days after
such determination has been made or is deemed to have been
made and shall be conclusively bound by such determination
unless (A) the Indemnitee misrepresented or failed to
disclose a material fact in making the request for
indemnification or in the Supporting Documentation or (B)
such indemnification is prohibited by law. In the event
that (x) advancement of expenses is not timely made pursuant
to Section (d)(l), or (y) payment of indemnification is not
made within five days after a determination of entitlement
to indemnification has been made or deemed to have been made
pursuant to Section (d)(2) or (3), the Indemnitee shall be
entitled to seek judicial enforcement of the Corporation's
obligation to pay to the Indemnitee such advancement of
expenses or indemnification. Notwithstanding the foregoing,
the Corporation may bring an action in an appropriate court
in the State of Delaware or any other court of competent
jurisdiction, contesting the right of the Indemnitee to
receive indemnification hereunder due to the occurrence of
an event described in subclause (A) or (B) of this clause
(ii) (a "Disqualifying Event"); provided, however, that in
any such action the Corporation shall have the burden of
proving the occurrence of such Disqualifying Event.
(iii) The Corporation shall be precluded from
asserting in any judicial proceeding or arbitration
commenced pursuant to this Section (d)(4) that the
procedures and presumptions of this Article VIII are not
valid, binding and enforceable and shall stipulate in any
such court or before any such arbitrator that the
Corporation is bound by all the provisions of this Article
VIII.
(iv) In the event that pursuant to this Section
(d)(4) the Indemnitee seeks a judicial adjudication of or an
award in arbitration to enforce his rights under, or to
recover damages for breach of, this Article VIII, the
Indemnitee shall be entitled to recover from the
Corporation, and shall be indemnified by the Corporation
against, any expenses
CLG.BYL
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actually and reasonably incurred by the Indemnitee if the
Indemnitee prevails in such judicial adjudication or
arbitration. If it shall be determined in such judicial
adjudication or arbitration that the Indemnitee is entitled
to receive part but not all of the indemnification or
advancement of expenses sought, the expenses incurred by the
Indemnitee in connection with such judicial adjudication or
arbitration shall be prorated accordingly.
(5) Definitions. For purposes of this Section
(d):
(i) "Change in Control" means (A) so long as the
Public Utility Holding Company Act of 1935 is in effect, any
"company" becoming a "holding company" in respect to the
Corporation or any determination by the Securities and
Exchange Commission that any "person" should be subject to
the obligations, duties, and liabilities if imposed by said
Act by virtue or his, hers or its influence over the
management or policies of the Corporation, or (B) whether or
not said Act is in effect, a change in control of the
Corporation of a nature that would be required to be
reported in response to Item 6(e) of Schedule 14A of
Regulation 14A promulgated under the Securities Exchange Act
of 1934 (the "Act"), whether or not the Corporation is then
subject to such reporting requirement; provided that,
without limitation, such a change in control shall be deemed
to have occurred if (i) any "person" (as such term is used
in Section 13(d) and 14(d) of the Act) is or becomes the
"beneficial owner" (as defined in Rule 13d-3 under the Act),
directly or indirectly, of securities of the Corporation
representing 10% or more of the combined voting power of the
Corporation's then outstanding securities without the prior
approval of at least two-thirds of the members of the Board
of Directors in office immediately prior to such
acquisition; (ii) the Corporation is a party to a merger,
consolidation, sale of assets or other reorganization, or a
proxy contest, as a consequence of which members of the
Board of Directors in office immediately prior to such
transaction or event constitute less than a majority of the
Board of Directors thereafter; or (iii) during any period of
two consecutive years, individuals who at the beginning of
such period constituted the Board of Directors (including
for this purpose any new director whose election or
nomination for election by the Corporation's stockholders
was approved by a vote of at least two-thirds of the
directors then still in office who were directors at the
beginning of such period) cease for any reason to constitute
at least a majority of the Board of Directors.
(ii) "Disinterested Director" means a director of
the Corporation who is not or was not a party to the
Proceeding in respect of which indemnification is sought by
the Indemnitee.
(iii) "Independent Counsel" means a law firm or a
member of a law firm that neither presently is, nor in the
past five years has been, retained to represent: (A) the
Corporation or the Indemnitee in any matter material to
CLG.BYL
December 21, 1994
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either such party or (B) any other party to the Proceeding
giving rise to a claim for indemnification under this
Article VIII. Notwithstanding the foregoing, the term
"Independent Counsel" shall not include any person who,
under the applicable standards of professional conduct then
prevailing under the law of the State of Delaware, would
have a conflict of interest in representing either the
corporation or the Indemnitee in an action to determine the
Indemnitee's rights under this Article VIII.
(e) Severability. If any provision or provisions of this
Article VIII shall be held to be invalid, illegal or unenforceable for any
reason whatsoever: (i) the validity, legality and enforceability of the
remaining provisions of this Article VIII (including, without limitation, all
portions of any paragraph of this Article VIII containing any such provision
held to be invalid, illegal or unenforceable, that are not themselves invalid,
illegal or unenforceable) shall not in any way be affected or impaired thereby;
and (ii) to the fullest extent possible, the provisions of this Article VIII
(including, without limitation, all portions of any paragraph of this Article
VIII containing any such provision held to be invalid, illegal or unenforceable
that are not themselves invalid, illegal or unenforceable) shall be construed
so as to give effect to the intent manifested by the provision held invalid,
illegal or unenforceable.
(f) Successor Laws, Regulations and Agencies. Reference
herein to laws, regulations or agencies shall be deemed to include all
amendments thereof, substitutions therefor and successors thereto.
ARTICLE IX
AMENDMENTS
Section 1. These by-laws may be altered, amended or repealed or new
by-laws may be adopted by the stockholders or by the Board of Directors, when
such power is conferred upon the Board of Directors by the certificate of
incorporation, at any regular meeting of the stockholders or of the Board of
Directors or at any special meeting of the stockholders or of the Board of
Directors if notice of such alteration, amendment, repeal or adoption of new
by-laws be contained in the notice of such special meeting.
ADOPTED AS OF DECEMBER 21, 1994
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Exhibit 4-A
CERTIFICATE OF INCORPORATION
OF
CLNG CORPORATION
* * * * * *
FIRST. The name of the Corporation is CLNG
CORPORATION.
SECOND. The address of the registered office of the
Corporation in the State of Delaware is 1209 Orange Street, in the City of
Wilmington, County of New Castle. The name of the Corporation's registered
agent at such address is The Corporation Trust Company.
THIRD.The purpose of the Corporation is to engage in
any lawful act or activity for which corporations may be organized under the
General Corporation Law of Delaware.
FOURTH.The Corporation is authorized to issue only
one class of stock, to wit: Common Stock. The total number of shares of Common
Stock which the Corporation shall have authority to issue is Three Thousand
(3,000) all of which are to have a par value of One Dollar ($1.00) per share.
FIFTH.The name and mailing address of the
incorporator is N. J. Caggiano, 20 Montchanin Road, Wilmington, DE 19807. The
powers of the incorporator are to terminate upon the election of directors of
the Corporation.
SIXTH.The Corporation is to have perpetual existence.
SEVENTH.For the management of the business and for
the conduct of the affairs of the Corporation, it is further provided:
1. The number of directors of the Corporation shall be
as from time to time shall be fixed by, or in the manner provided in, the
By-Laws, and in no case shall the number be less than three (3). The directors
need not be stockholders of the Corporation.
2. In furtherance, and not in limitation, of the powers
conferred by statute, the Board of Directors is expressly authorized:
(a) to make, alter or repeal by-laws of the
Corporation, subject to the power of the stockholders of the Corporation to
alter or appeal any by-laws whether adopted by the stockholders or otherwise.
CLG.BYL
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(b) to exercise the powers and authorities as are
provided in the By-Laws then in effect, subject to applicable limitations as
provided in such By-Laws.
EIGHTH.Meetings of stockholders may be held within or
without the State of Delaware, as the By-Laws may provide. The books of the
corporation may be kept (subject to any provision contained in the statutes)
outside the State of Delaware at such place or places as may be designated from
time to time by the board of directors or in the By-Laws of the corporation.
At all elections of directors, the stockholders shall have the right of
cumulative voting, that is to say, each stockholder shall be entitled to as
many votes as shall be equal to the number of votes which he would be entitled
to cast for the election of directors with respect to his shares of stock
multiplied by the number of directors to be elected, and he may cast all of
such votes for a single director or may distribute them among the number to be
voted for, or any two or more of them, as he may see fit.
NINTH.The Corporation reserves the right to restate
this Certificate of Incorporation and to amend, alter, change or repeal any
provision contained in this Certificate of Incorporation in the manner now or
hereafter prescribed by law, and all rights and powers conferred herein on
stockholders, directors and officers are subject to this reserved power.
TENTH.A director of the Corporation shall not be
liable to the Corporation or its stockholders for monetary damages for breach
of fiduciary duty as a director, except to the extent such exemption from
liability or limitation thereof is not permitted under the General Corporation
Law of the State of Delaware as the same exists or may hereafter be amended.
Any amendment, modification or repeal of the foregoing sentence by the
stockholders of the Corporation shall not adversely affect any right or
protection of a director of the Corporation in respect of any act, omission
occurring prior to the time such amendment, modification or repeal.
The undersigned incorporator hereby acknowledges that
the foregoing Certificate of Incorporation is his act and deed this 21st day of
January, 1994.
--------------------------
Incorporator
CLG.BYL
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Exhibit 4-B
CLNG CORPORATION
*****
BY-LAWS
*****
ARTICLE I
OFFICES
Section 1. The registered office shall be in the City of Wilmington,
County of New Castle, State of Delaware.
Section 2. The corporation may also have offices at such other
places both within and without the State of Delaware as the Board of Directors
may from time to time determine or the business of the corporation may require.
ARTICLE II
MEETINGS OF STOCKHOLDERS
Section 1. All meetings of the stockholders for the election of
directors shall be held in the County of New Castle, State of Delaware, at
such place as may be fixed from time to time by the Board of Directors, or at
such other place either within or without the State of Delaware as shall be
designated from time to time by the Board of Directors and stated in the
notice of the meeting. Meetings of stockholders for any other purpose may be
held at such time and place, within or without the State of Delaware, as shall
be stated in the notice of the meeting or in a duly executed waiver of notice
thereof.
Section 2. Annual meetings of stockholders shall be held on the
first Monday of June if not a legal holiday, and if a legal holiday, then on
the next secular day following, at 10:00 A.M., or at such other date and time
as shall be designated from time to time by the Board of Directors and stated
in the notice of the meeting, at which they shall elect by a plurality vote a
Board of Directors, and transact such other business as may properly be brought
before the meeting.
Section 3. Written notice of the annual meeting stating the place,
date and hour of the meeting shall be given to each stockholder entitled to
vote at such meeting not less than ten nor more than sixty days before the date
of the meeting.
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Section 4. The officer who has charge of the stock ledger of the
corporation shall prepare and make, at least ten days before every meeting of
stockholders, a complete list of the stockholders entitled to vote at the
meeting, arranged in alphabetical order, and showing the address of each
stockholder and the number of shares registered in the name of each
stockholder. Such list shall be open to the examination of any stockholder,
for any purpose germane to the meeting, during ordinary business hours, for a
period of at least ten days prior to the meeting, either at a place within the
city where the meeting is to be held, which place shall be specified in the
notice of the meeting, or, if not so specified, at the place where the meeting
is to be held. The list shall also be produced and kept at the time and place
of the meeting during the whole time thereof, and may be inspected by any
stockholder who is present.
Section 5. Special meetings of the stockholders, for any purpose or
purposes, unless otherwise prescribed by statute or by the certificate of
incorporation, may be called by the president and shall be called by the
president or secretary at the request in writing of a majority of the Board of
Directors, or at the request in writing of stockholders owning a majority in
amount of the entire capital stock of the corporation issued and outstanding
and entitled to vote. Such request shall state the purpose or purposes of the
proposed meeting.
Section 6. Written notice of a special meeting stating the place,
date and hour of the meeting and the purpose or purposes for which the meeting
is called, shall be given not less than ten nor more than sixty days before the
date of the meeting, to each stockholder entitled to vote at such meeting.
Section 7. Business transacted at any special meeting of the
stockholders shall be limited to the purposes stated in the notice.
Section 8. The holders of a majority of the stock issued and
outstanding and entitled to vote thereat, present in person or represented by
proxy, shall constitute a quorum at all meetings of the stockholders for the
transaction of business except as otherwise provided by statute or by the
certificate of incorporation. If, however, such quorum shall not be present or
represented at any meeting of the stockholders, the stockholders entitled to
vote thereat, present in person or represented by proxy, shall have power to
adjourn the meeting from time to time, without notice other than announcement
at the meeting, until a quorum shall be present or represented. At such
adjourned meeting, at which a quorum shall be present or represented, any
business may be transacted which might have been transacted at the meeting as
originally notified. If the adjournment is for more than thirty days, or if
after the adjournment a new record date is fixed for the adjourned meeting, a
notice of the adjourned meeting shall be given to each stockholder of record
entitled to vote at the meeting.
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Section 9. When a quorum is present at any meeting, the vote of the
holders of a majority of the stock having voting power present in person or
represented by proxy shall decide any question brought before such meeting,
unless the question is one upon which by express provision of statute or of the
certificate of incorporation, a different vote is required in which case such
express provision shall govern and control the decision of such question.
Section 10. Unless otherwise provided in the certificate of
incorporation, each stockholder shall at every meeting of the stockholders be
entitled to one vote in person or by proxy for each share of the capital stock
having voting power held by such stockholder, but no proxy shall be voted on
after three years from its date, unless the proxy provides for a longer period.
Section 11. Unless otherwise provided in the certificate of
incorporation, any action required to be taken at any annual or special meeting
of stockholders of the corporation, or any action which may be taken at any
annual or special meeting of such stockholders, may be taken without a meeting,
without prior notice and without a vote, if a consent in writing, setting forth
the action so taken, shall be signed by the holders of outstanding stock having
not less than the minimum number of votes that would be necessary to authorize
or take such action at a meeting at which all shares entitled to vote thereon
were present and voted. Prompt notice of the taking of the corporate action
without a meeting by less than unanimous written consent shall be given to
those stockholders who have not consented in writing.
ARTICLE III
DIRECTORS
Section 1. The number of directors which shall constitute the whole
Board shall be not less than four nor more than ten. The number of directors
shall be determined by resolution of the Board of Directors or by the
stockholders at the annual meeting. The directors shall be elected at the
annual meeting of the stockholders, except as provided in Section 2 of this
Article, and each director elected shall hold office until his successor is
elected and qualified. Directors need not be stockholders.
Section 2. Vacancies and newly created directorships resulting from
any increase in the authorized number of directors may be filled by a majority
of the directors then in office, though less than a quorum, or by a sole
remaining director, and the directors so chosen shall hold office until the
next annual election and until their successors are duly elected and shall
qualify, unless sooner displaced. If there are no directors in office, then an
election of directors may be held in the manner provided by statute.
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Section 3. The business of the corporation shall be managed by its
Board of Directors which may exercise all such powers of the corporation and do
all such lawful acts and things as are not by statute or by the certificate of
incorporation or by these by-laws directed or required to be exercised or done
by the stockholders.
MEETINGS OF THE BOARD OF DIRECTORS
Section 4. The Board of Directors of the corporation may hold
meetings, both regular and special, either within or without the State of
Delaware.
Section 5. The first meeting of each newly elected Board of
Directors shall be held at such time and place as shall be fixed by the vote of
the stockholders at the annual meeting and no notice of such meeting shall be
necessary to the newly elected directors in order legally to constitute the
meeting, provided a quorum shall be present. In the event of the failure of
the stockholders to fix the time or place of such first meeting of the newly
elected Board of Directors, or in the event such meeting is not held at the
time and place so fixed by the stockholders, the meeting may be held at such
time and place as shall be specified in a notice given as hereinafter provided
for special meetings of the Board of Directors, or as shall be specified in a
written waiver signed by all of the Directors.
Section 6. Regular meetings of the Board of Directors may be held
without notice at such time and at such place as shall from time to time be
determined by the Board.
Section 7. Special meetings of the Board may be called by the
president, the secretary or any assistant secretary on six hours' notice to
each director, either personally or by mail or by telegram; special meetings
shall be called by the president, the secretary or an assistant secretary in
like manner and on like notice on the written request of two directors.
Section 8. At all meetings of the Board, a majority of the directors
shall constitute a quorum for the transaction of business, and the act of a
majority of the directors present at any meeting at which there is a quorum
shall be the act of the Board of Directors, except as may be otherwise
specifically provided by statute or by the certificate of incorporation. If a
quorum shall not be present at any meeting of the Board of Directors, the
directors present thereat may adjourn the meeting from time to time, without
notice other than announcement at the meeting, until a quorum shall be present.
Section 9. Unless otherwise restricted by the certificate of
incorporation or these by-laws, any action required or permitted to be taken at
any meeting of the Board of Directors or of any committee thereof may be taken
without a meeting, if all
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members of the Board or committee, as the case may be, consent thereto in
writing, and the writing or writings are filed with the minutes of proceedings
of the Board or committee.
Section 10. Unless otherwise restricted by the certificate of
incorporation or these by-laws, members of the Board of Directors, or any
committee designated by the Board of Directors, may participate in a meeting of
the Board of Directors, or any committee, by means of conference telephone or
similar communications equipment by means of which all persons participating in
the meeting can hear each other, and such participation in a meeting shall
constitute presence in person at the meeting.
COMMITTEES OF DIRECTORS
Section 11. The Board of Directors may, by resolution passed by a
majority of the whole Board, designate one or more committees, each committee
to consist of one or more of the directors of the corporation. The Board may
designate one or more directors as alternate members of any committee, who may
replace any absent or disqualified member at any meeting of the committee. In
the absence or disqualification of a member of a committee, the member or
members thereof present at any meeting and not disqualified from voting,
whether or not he or they constitute a quorum, may unanimously appoint another
member of the Board of Directors to act at the meeting in the place of any such
absent or disqualified member. Any such committee, to the extent provided in
the resolution of the Board of Directors, shall have and may exercise all the
powers and authority of the Board of Directors in the management of the
business and affairs of the corporation, and may authorize the seal of the
corporation to be affixed to all papers which may require it; but no such
committee shall have the power or authority in reference to amending the
certificate of incorporation, adopting an agreement of merger or consolidation,
recommending to the stockholders the sale, lease or exchange of all or
substantially all of the corporation's property and assets, recommending to the
stockholders a dissolution of the corporation or a revocation of a dissolution,
or amending the by-laws of the corporation; and, unless the resolution or the
certificate of incorporation expressly so provide, no such committee shall have
the power or authority to declare a dividend or to authorize the issuance of
stock. Such committee or committees shall have such name or names as may be
determined from time to time by resolution adopted by the Board of Directors.
Section 12. Each committee shall keep regular minutes of its
meetings and report the same to the Board of Directors.
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COMPENSATION OF DIRECTORS
Section 13. Unless otherwise restricted by the certificate of
incorporation or these by-laws, the Board of Directors shall have the authority
to fix the compensation of directors. The directors may be paid their
expenses, if any, of attendance at each meeting of the Board of Directors and
may be paid a fixed sum for attendance at each meeting of the Board of
Directors or a stated salary as director. No such payment shall preclude any
director from serving the corporation in any other capacity and receiving
compensation therefor. Members of special or standing committees may be
allowed like compensation for attending committee meetings.
ARTICLE IV
NOTICES
Section 1. Whenever, under the provisions of applicable statute or
of the certificate of incorporation or of these by-laws, notice is required to
be given to any director or stockholder, it shall not be construed to mean
personal notice, but such notice may be given in writing, by mail, addressed to
such director or stockholder, at his address as it appears on the records of
the corporation, with postage thereon prepaid, and such notice shall be deemed
to be given at the time when the same shall be deposited in the United States
mail. Notice to directors may also be given by telegram, data fax, or other
similar method of transmitting a written communication.
Section 2. Whenever any notice is required to be given under the
provisions of applicable statute or of the certificate of incorporation or of
these by-laws, a waiver thereof in writing, signed by the person or persons
entitled to said notice, whether before or after the time stated therein, shall
be deemed equivalent thereto.
ARTICLE V
OFFICERS
Section 1. The officers of the corporation shall be chosen by the
Board of Directors and shall be a president and at least one of the following:
a secretary, a treasurer and/or a controller. The Board of Directors may also
choose vice-presidents and one or more assistant secretaries and assistant
treasurers and/or assistant controllers. Any number of offices may be held by
the same person, unless the certificate of incorporation or these by-laws
otherwise provide.
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Section 2. The Board of Directors at its first meeting after each
annual meeting of stockholders shall choose a president and at least one of the
following: a secretary, treasurer and/or a controller.
Section 3. The Board of Directors may appoint such other officers
and agents as it shall deem necessary who shall hold their offices for such
terms and shall exercise such powers and perform such duties as shall be
determined from time to time by the Board.
Section 4. The salaries of all officers and agents of the
corporation shall be fixed by the Board of Directors.
Section 5. The officers of the corporation shall hold office until
their successors are chosen and qualify. Any officer elected or appointed by
the Board of Directors may be removed at any time by the affirmative vote of a
majority of the Board of Directors. Any vacancy occurring in any office of the
corporation shall be filled by the Board of Directors.
THE PRESIDENT AND VICE PRESIDENTS
Section 6. The president shall be the chief executive officer of the
corporation, shall preside at all meetings of the stockholders and the Board of
Directors, shall have general and active management of the business of the
corporation and shall see that all orders and resolutions of the Board of
Directors are carried into effect.
Section 7. The president shall execute bonds, mortgages and other
contracts requiring a seal, under the seal of the corporation, except where
required or permitted by law to be otherwise signed and executed and except
where the signing and execution thereof shall be expressly delegated by the
Board of Directors to some other officer or agent of the corporation.
Section 8. The vice president, or if there be more than one, the
vice presidents in the order determined by the Board of Directors (or if there
be no such determination, then in the order of their election), shall perform
such duties and exercise such powers as the Board of Directors may from time to
time prescribe.
THE SECRETARY AND ASSISTANT SECRETARIES
Section 9. The secretary shall attend all meetings of the Board of
Directors and all meetings of the stockholders and record all the proceedings
of the meetings of the corporation and of the Board of Directors in a book to
be kept for that purpose and shall perform like duties for the standing
committees when required. He shall give, or cause to be given, notice of all
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meetings of the stockholders and special meetings of the Board of Directors,
and shall perform such other duties as may be prescribed by the Board of
Directors or president, under whose supervision he shall be. He shall have
custody of the corporate seal of the corporation and he, or an assistant
secretary, shall have authority to affix the same to any instrument requiring
it and when so affixed, it may be attested by his signature or by the signature
of such assistant secretary. The Board of Directors may give general authority
to any other officer to affix the seal of the corporation and to attest the
affixing by his signature.
Section 10. An assistant secretary, or if there be more than one,
the assistant secretaries in the order determined by the Board of Directors (or
if there be no such determination, then in the order of their election), shall,
in the absence of the secretary or in the event of his inability or refusal to
act, perform the duties and exercise the powers of the secretary and shall
perform such other duties and have such other powers as the Board of Directors
may from time to time prescribe.
THE TREASURER/CONTROLLER AND ASSISTANT TREASURERS/CONTROLLERS
Section 11. The treasurer and/or controller, or as directed by the
Board of Directors, one or more assistant treasurers and/or assistant
controllers shall have the custody of the corporate funds and securities and
shall keep full and accurate accounts of receipts and disbursements in books
belonging to the corporation and shall deposit all moneys and other valuable
effects in the name and to the credit of the corporation in such depositories
as may be designated by the Board of Directors.
Section 12. The treasurer and/or controller or, as directed by the
Board of Directors, one or more assistant treasurers and/or assistant
controllers shall disburse the funds of the corporation as may be ordered by
the Board of Directors, taking proper vouchers for such disbursements, and
shall render to the president and the Board of Directors, at its regular
meetings, or when the Board of Directors so requires, an account of all
his/their transactions as treasurer/assistant treasurer and/or as
controller/assistant controller and of the financial condition of the
corporation.
Section 13. If required by the Board of Directors, the treasurer or
an assistant treasurer and/or the controller or an assistant controller shall
give the corporation a bond (which shall be renewed every six years) in such
sum and with such surety or sureties as shall be satisfactory to the Board of
Directors for the faithful performance of the duties of their offices and for
the restoration to the corporation, in case of their death, resignation,
retirement or removal from office, of all books, papers, vouchers, money and
other property of whatever kind in their possession or under their control
belonging to the corporation.
Section 14. The assistant treasurer and/or assistant controller, or
if there shall be more than one, the assistant treasurers and/or assistant
controllers in the order determined by the Board of Directors (or if there be
no such determination,
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then in the order of their election), shall, in the absence of the treasurer
and/or controller or in the event of his inability or refusal to act, perform
the duties and exercise the powers of the treasurer and/or controller and shall
perform such other duties and have such other powers as the Board of Directors
may from time to time prescribe.
ARTICLE VI
CERTIFICATES OF STOCK
Section 1. Every holder of stock in the corporation shall be
entitled to have a certificate, signed by, or in the name of the corporation,
by the president or the vice president and by the treasurer or an assistant
treasurer and/or the controller or an assistant controller, or by the secretary
or an assistant secretary of the corporation, certifying the number of shares
owned by him in the corporation.
Section 2. Any of or all the signatures on the certificate may be
facsimile. In case any officer, transfer agent or registrar who has signed or
whose facsimile signature has been placed upon a certificate shall have ceased
to be such officer, transfer agent or registrar before such certificate is
issued, it may be issued by the corporation with the same effect as if he were
such officer, transfer agent or registrar at the date of issue.
LOST CERTIFICATES
Section 3. The Board of Directors may direct a new certificate or
certificates to be issued in place of any certificate or certificates
theretofore issued by the corporation alleged to have been lost, stolen or
destroyed, upon the making of an affidavit of that fact by the person claiming
the certificate of stock to be lost, stolen or destroyed. When authorizing
such issue of a new certificate or certificates, the Board of Directors may, in
its discretion and as a condition precedent to the issuance thereof, require
the owner of such lost, stolen or destroyed certificate or certificates, or his
legal representative, to advertise the same in such manner as it shall require
and/or to give the corporation a bond in such sum as it may direct as indemnity
against any claim that may be made against the corporation with respect to the
certificate alleged to have been lost, stolen or destroyed.
TRANSFERS OF STOCK
Section 4. Upon surrender to the corporation or the transfer agent
of the corporation of a certificate for shares duly endorsed or accompanied by
proper evidence of succession, assignment or authority to transfer, it shall be
the duty of the corporation to issue a new certificate to the person entitled
thereto, cancel the old certificate and record the transaction upon its books.
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FIXING RECORD DATE
Section 5. In order that the corporation may determine the
stockholders entitled to notice of or to vote at any meeting of stockholders or
any adjournment thereof, or to express consent to corporate action in writing
without a meeting, or entitled to receive payment of any dividend or other
distribution or allotment of any rights, or entitled to exercise any rights in
respect of any change, conversion or exchange of stock or for the purpose of
any other lawful action, the Board of Directors may fix, in advance, a record
date, which shall not be more than sixty nor less than ten days before the date
of such meeting, nor more than sixty days prior to any other action. A
determination of stockholders of record entitled to notice of or to vote at a
meeting of stockholders shall apply to any adjournment of the meeting;
provided, however, that the Board of Directors may fix a new record date for
the adjourned meeting.
REGISTERED STOCKHOLDERS
Section 6. The corporation shall be entitled to recognize the
exclusive right of a person registered on its books as the owner of shares to
receive dividends, and to vote as such owner, and to hold liable for calls and
assessments a person registered on its books as the owner of shares, and shall
not be bound to recognize any equitable or other claim to or interest in such
share or shares on the part of any other person, whether or not it shall have
express or other notice thereof, except as otherwise provided by the laws of
the State of Delaware.
ARTICLE VII
GENERAL PROVISIONS
DIVIDENDS
Section 1. Dividends upon the capital stock of the corporation,
subject to the provisions of the certificate of incorporation, if any, may be
declared by the Board of Directors at any regular or special meeting, pursuant
to law. Dividends may be paid in cash, in property, or in shares of the
capital stock, subject to the provisions of the certificate of incorporation.
Section 2. Before payment of any dividend, there may be set aside
out of any funds of the corporation available for dividends such sum or sums as
the directors from time to time, in their absolute discretion, think proper as
a reserve or reserves to meet contingencies, or for equalizing dividends, or
for repairing or maintaining any property of the corporation, or for such other
purpose as the directors shall think conducive to the interest of the
corporation, and the directors may modify or abolish any such reserve in the
manner in which it was created.
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CHECKS
Section 3. All checks or demands for money and notes of the
corporation shall be signed by such officer or officers or such other person or
persons as the Board of Directors may from time to time designate.
FISCAL YEAR
Section 4. The fiscal year of the corporation begins on the first
day of January and ends on the thirty-first day of December in each year.
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SEAL
Section 5. The corporate seal shall have inscribed thereon the name
of the corporation, the year of its organization and the words "Corporate Seal,
Delaware." The seal may be used by causing it or a facsimile thereof to be
impressed or affixed or reproduced or otherwise.
ARTICLE VIII
INDEMNIFICATION
(a) Right to Indemnification. The Corporation shall
to the fullest extent permitted by applicable law as then in effect indemnify
any person (the "Indemnitee") who was or is involved in any manner (including,
without limitation, as a party or a witness) or is threatened to be made so
involved in any threatened, pending or completed investigation, claim, action,
suit or proceeding, whether civil, criminal, administrative or investigative
(including without limitation, any action, suit or proceeding by or in the
right of the Corporation to procure a judgment in its favor) (a "Proceeding")
by reason of the fact that such person is or was a director, officer, employee
or agent of the Corporation, or is or was serving at the request of the
Corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise (including, without
limitation, any employee benefit plan) against all expenses (including
attorneys' fees), judgments, fines and amounts paid in settlement actually and
reasonably incurred by such person in connection with such Proceeding. Such
indemnification shall be a contract right and shall include the right to
receive payment of any expenses incurred by the Indemnitee in connection with
such Proceeding in advance of its final disposition, consistent with the
provisions of applicable law as then in effect.
(b) Insurance, Contracts and Funding. The
Corporation may purchase and maintain insurance to protect itself and any
indemnitee against any expenses, judgments, fines and amounts paid in
settlement as specified in Section (a) of this Article VIII or incurred by an
Indemnitee in connection with any proceeding referred to in Section (a) of this
Article VIII, to the fullest extent permitted by applicable law as then in
effect. The Corporation may enter into contracts with any director, officer,
employee or agent of the Corporation or use other means in furtherance of the
provisions of this Article VIII to ensure the payment of such amounts as may be
necessary to effect indemnification as provided in this Article VIII.
(c) Indemnification; Not Exclusive Right. The right
of indemnification provided in this Article VIII shall not be exclusive of any
other rights to which those seeking indemnification may otherwise be entitled,
and the provisions of this Article VIII shall inure to the benefit of the heirs
and legal representatives of any person entitled to indemnity under this
Article
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VIII and shall be applicable to Proceedings commenced or continuing after the
adoption of this Article VIII, whether arising from acts or omissions occurring
before or after such adoption.
(d) Advancement of Expenses; Procedures; Presumptions
and Effect of Certain Proceedings; Remedies. In furtherance but not in
limitation of the foregoing provisions, the following procedures, presumptions
and remedies shall apply with respect to advancement of expenses and the right
to indemnification under this Article VIII:
(1) Advance of Expenses. All reasonable expenses
incurred by or on behalf of the Indemnitee in connection with any Proceeding
shall be advanced to the Indemnitee by the Corporation within 20 days after the
receipt by the Corporation of a statement or statements from the Indemnitee
requesting such advance or advances from time to time, whether prior to or
after final disposition of such Proceeding. Such statement or statements shall
reasonably evidence the expenses incurred by the Indemnitee and, if required by
law at the time of such advance, shall include or be accompanied by an
undertaking by or on behalf of the Indemnitee to repay the amounts advanced if
it should ultimately be determined that the Indemnitee is not entitled to be
indemnified against such expenses pursuant to this Article VIII.
(2) Procedure for Determination of Entitlement to
Indemnification.
(i) To obtain indemnification under this Article
VIII, an Indemnitee shall submit to the Secretary of the Corporation a written
request, including such documentation and information as is reasonably
available to the Indemnitee and reasonably necessary to determine whether and
to what extent the Indemnitee is entitled to indemnification (the "Supporting
Documentation"). The determination of the Indemnitee's entitlement to
indemnification shall be made not later than 60 days after receipt by the
Corporation of the written request for indemnification together with Supporting
Documentation. The Secretary of the Corporation shall advise the Board of
Directors in writing, promptly upon receipt of such a request for
indemnification, that the Indemnitee has requested indemnification.
(ii) The Indemnitee's entitlement to indemnification
under this Article VIII shall be determined in one of the following ways: (A)
by a majority vote of the Disinterested Directors (as hereinafter defined), if
they constitute a quorum of the Board of Directors; (B) by a written opinion of
Independent Counsel (as hereinafter defined) if (x) a Change of Control (as
hereinafter defined) shall have occurred and the Indemnitee so requests or (y)
a quorum of the Board of Directors consisting of Disinterested Directors is not
obtainable or, even if obtainable, a majority of such Disinterested Directors
so directs; (C) by the stockholders of the Corporation (but only if a majority
of the Disinterested Directors, if they constitute a quorum of the Board of
Directors, present the issue of entitlement to indemnification to the
stockholders for their determination); or (D) as provided in Section (d)(3).
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(iii) In the event the determination of entitlement
to indemnification is to be made by Independent Counsel pursuant to Section
(d)(2)(ii), a majority of the Board of Directors shall select the Independent
Counsel, but only an Independent Counsel to which the Indemnitee does not
reasonably object; provided, however, that if a Change of Control shall have
occurred, the Indemnitee shall select such Independent Counsel, but only an
Independent Counsel to which the Board of Directors does not reasonably object.
(iv) The only basis upon which a finding of no
entitlement to indemnification may be made is that indemnification is
prohibited by law.
(3) Presumptions and Effect of Certain Proceedings.
Except as otherwise expressly provided in this Article VIII, if a Change of
Control shall have occurred, the Indemnitee shall be presumed to be entitled to
indemnification under this Article VIII upon submission of a request for
indemnification together with the Supporting Documentation in accordance with
Section (d)(2)(i), and thereafter the Corporation shall have the burden of
proof to overcome that presumption in reaching a contrary determination. In
any event, if the person or persons empowered under Section (d)(2) to determine
entitlement to indemnification shall not have been appointed or shall not have
made a determination within 60 days after receipt by the Corporation of the
request therefor together with the Supporting Documentation, the Indemnitee
shall be deemed to be entitled to indemnification, and the Indemnitee shall be
entitled to such indemnification unless (a) the Indemnitee misrepresented or
failed to disclose a material fact in making the request for indemnification or
in the Supporting Documentation or (B) such indemnification is prohibited by
law. The termination of any Proceeding described in Section (a), or of any
claim, issue or matter therein, by judgment, order, settlement or conviction,
or upon a plea of nolo contendere or its equivalent, shall not of itself
adversely affect the right of the Indemnitee to indemnification or create a
presumption that the Indemnitee did not act in good faith and in a manner which
the Indemnitee reasonably believed to be in or not opposed to the best
interests of the Corporation or, with respect to any criminal Proceeding, that
the Indemnitee had reasonable cause to believe that the Indemnitee's conduct
was unlawful.
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(4) Remedies of Indemnitee.
(i) In the event that a determination is made
pursuant to Section (d)(2) or (3) that the Indemnitee is not
entitled to indemnification under this Article VIII, (A) the
Indemnitee shall be entitled to seek an adjudication of his
entitlement to such indemnification either, at the
Indemnitee's sole option, in (x) an appropriate court of the
State of Delaware or any other court of competent
jurisdiction or (y) an arbitration to be conducted by a
single arbitrator pursuant to the rules of the American
Arbitration Association; (B) any such judicial proceeding or
arbitration shall be de novo and the Indemnitee shall not be
prejudiced by reason of such adverse determination; and (C)
in any such judicial proceeding or arbitration, the
Corporation shall have the burden of proving that the
Indemnitee is not entitled to indemnification under this
Article VIII.
(ii) If pursuant to Section (d)(2) or (3) a
determination shall have been made or deemed to have been
made that the Indemnitee is entitled to indemnification, the
Corporation shall be obligated to pay the amounts
constituting such indemnification within five days after
such determination has been made or is deemed to have been
made and shall be conclusively bound by such determination
unless (A) the Indemnitee misrepresented or failed to
disclose a material fact in making the request for
indemnification or in the Supporting Documentation or (B)
such indemnification is prohibited by law. In the event
that (x) advancement of expenses is not timely made pursuant
to Section (d)(l), or (y) payment of indemnification is not
made within five days after a determination of entitlement
to indemnification has been made or deemed to have been made
pursuant to Section (d)(2) or (3), the Indemnitee shall be
entitled to seek judicial enforcement of the Corporation's
obligation to pay to the Indemnitee such advancement of
expenses or indemnification. Notwithstanding the foregoing,
the Corporation may bring an action in an appropriate court
in the State of Delaware or any other court of competent
jurisdiction, contesting the right of the Indemnitee to
receive indemnification hereunder due to the occurrence of
an event described in subclause (A) or (B) of this clause
(ii) (a "Disqualifying Event"); provided, however, that in
any such action the Corporation shall have the burden of
proving the occurrence of such Disqualifying Event.
(iii) The Corporation shall be precluded from
asserting in any judicial proceeding or arbitration
commenced pursuant to this Section (d)(4) that the
procedures and presumptions of this Article VIII are not
valid, binding and enforceable and shall stipulate in any
such court or before any such arbitrator that the
Corporation is bound by all the provisions of this Article
VIII.
(iv) In the event that pursuant to this Section
(d)(4) the Indemnitee seeks a judicial adjudication of or an
award in arbitration to enforce his rights under, or to
recover damages for breach of, this Article VIII, the
Indemnitee shall be entitled to recover from the
Corporation, and shall be indemnified by the Corporation
against, any expenses actually and reasonably incurred by
the Indemnitee if the Indemnitee prevails in such judicial
adjudication or arbitration. If it shall be determined in
such judicial adjudication or arbitration that the
Indemnitee is entitled to
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receive part but not all of the indemnification or
advancement of expenses sought, the expenses incurred by the
Indemnitee in connection with such judicial adjudication or
arbitration shall be prorated accordingly.
(5) Definitions. For purposes of this Section
(d):
(i) "Change in Control" means (A) so long as the
Public Utility Holding Company Act of 1935 is in effect, any
"company" becoming a "holding company" in respect to the
Corporation or any determination by the Securities and
Exchange Commission that any "person" should be subject to
the obligations, duties, and liabilities if imposed by said
Act by virtue or his, hers or its influence over the
management or policies of the Corporation, or (B) whether or
not said Act is in effect, a change in control of the
Corporation of a nature that would be required to be
reported in response to Item 6(e) of Schedule 14A of
Regulation 14A promulgated under the Securities Exchange Act
of 1934 (the "Act"), whether or not the Corporation is then
subject to such reporting requirement; provided that,
without limitation, such a change in control shall be deemed
to have occurred if (i) any "person" (as such term is used
in Section 13(d) and 14(d) of the Act) is or becomes the
"beneficial owner" (as defined in Rule 13d-3 under the Act),
directly or indirectly, of securities of the Corporation
representing 10% or more of the combined voting power of the
Corporation's then outstanding securities without the prior
approval of at least two-thirds of the members of the Board
of Directors in office immediately prior to such
acquisition; (ii) the Corporation is a party to a merger,
consolidation, sale of assets or other reorganization, or a
proxy contest, as a consequence of which members of the
Board of Directors in office immediately prior to such
transaction or event constitute less than a majority of the
Board of Directors thereafter; or (iii) during any period of
two consecutive years, individuals who at the beginning of
such period constituted the Board of Directors (including
for this purpose any new director whose election or
nomination for election by the Corporation's stockholders
was approved by a vote of at least two-thirds of the
directors then still in office who were directors at the
beginning of such period) cease for any reason to constitute
at least a majority of the Board of Directors.
(ii) "Disinterested Director" means a director of the
Corporation who is not or was not a party to the Proceeding
in respect of which indemnification is sought by the
Indemnitee.
(iii) "Independent Counsel" means a law firm or a
member of a law firm that neither presently is, nor in the
past five years has been, retained to represent: (A) the
Corporation or the Indemnitee in any matter material to
either such party or (B) any other party to the Proceeding
giving rise to a claim for indemnification under this
Article VIII. Notwithstanding the foregoing, the term
"Independent Counsel" shall not include any person who,
under the applicable standards of professional conduct then
prevailing under the law of the State of Delaware, would
have a
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conflict of interest in representing either the corporation
or the Indemnitee in an action to determine the Indemnitee's
rights under this Article VIII.
(e) Severability. If any provision or provisions of this
Article VIII shall be held to be invalid, illegal or unenforceable for any
reason whatsoever: (i) the validity, legality and enforceability of the
remaining provisions of this Article VIII (including, without limitation, all
portions of any paragraph of this Article VIII containing any such provision
held to be invalid, illegal or unenforceable, that are not themselves invalid,
illegal or unenforceable) shall not in any way be affected or impaired thereby;
and (ii) to the fullest extent possible, the provisions of this Article VIII
(including, without limitation, all portions of any paragraph of this Article
VIII containing any such provision held to be invalid, illegal or unenforceable
that are not themselves invalid, illegal or unenforceable) shall be construed
so as to give effect to the intent manifested by the provision held invalid,
illegal or unenforceable.
(f) Successor Laws, Regulations and Agencies. Reference
herein to laws, regulations or agencies shall be deemed to include all
amendments thereof, substitutions therefor and successors thereto.
ARTICLE IX
AMENDMENTS
Section 1. These by-laws may be altered, amended or repealed or new
by-laws may be adopted by the stockholders or by the Board of Directors, when
such power is conferred upon the Board of Directors by the certificate of
incorporation, at any regular meeting of the stockholders or of the Board of
Directors or at any special meeting of the stockholders or of the Board of
Directors if notice of such alteration, amendment, repeal or adoption of new
by-laws be contained in the notice of such special meeting.
ADOPTED AS OF DECEMBER 21, 1994
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Exhibit D
Page 1 of 4
AGREEMENT FOR FILING CONSOLIDATED
FEDERAL INCOME TAX RETURN AND FOR
ALLOCATION OF LIABILITIES AND BENEFITS
ARISING FROM SUCH CONSOLIDATED
TAX RETURN BETWEEN
THE COLUMBIA GAS SYSTEM, INC.
AND SUBSIDIARY COMPANIES
The following members of The Columbia Gas System, Inc.,
affiliated group of corporations as described in Section 1504 of the Internal
Revenue Code hereby authorize their common parent corporation, The Columbia Gas
System, Inc., to make and file a consolidated federal income tax return on
behalf of the group.
<TABLE>
<CAPTION>
Federal
Employer
Identification
Name and Address Number
- ---------------- --------------
<S> <C>
The Columbia Gas System, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . 13-1594808
Columbia Atlantic Trading Corporation . . . . . . . . . . . . . . . . . . . . . . . 51-0122560
Columbia Gas System Service Corporation . . . . . . . . . . . . . . . . . . . . . . 13-1596081
Columbia LNG Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-0808682
TriStar Ventures Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . 55-0647910
TriStar Capital Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51-0331685
20 Montchanin Road
Wilmington, Delaware 19807
Columbia Gas of Kentucky, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . 55-0139565
Columbia Gas of Maryland, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . 25-1093185
Columbia Gas of Ohio, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-0673990
Columbia Gas of Pennsylvania, Inc. . . . . . . . . . . . . . . . . . . . . . . . . 25-1100252
</TABLE>
<PAGE> 193
<TABLE>
<CAPTION>
Exhibit D
Page 2 of 4
<S> <C>
Commonwealth Gas Services, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . 54-0344210
200 Civic Center Drive
Columbus, Ohio 43215
Columbia Gas Development Corporation . . . . . . . . . . . . . . . . . . . . . . . 74-1664015
One Riverway
Houston, Texas 77056
Columbia Coal Gasification Corporation . . . . . . . . . . . . . . . . . . . . . . 61-0714016
Columbia Natural Resources, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . 52-1383102
900 Pennsylvania Avenue
Charleston, West Virginia 25302
Columbia Gas Transmission Corporation . . . . . . . . . . . . . . . . . . . . . . . 31-0802435
Columbia Gulf Transmission Company . . . . . . . . . . . . . . . . . . . . . . . . 74-1321143
1700 MacCorkle Avenue, S.W.
Charleston, West Virginia 25314
Columbia Propane Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . 61-0565214
Commonwealth Propane, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54-0146483
800 Moorefield Park Drive
Richmond, Virginia 23236-3659
Columbia Energy Services Corporation . . . . . . . . . . . . . . . . . . . . . . . 61-0573109
BLDG 200 STE 201
2581 Washington, Rd
Pittsburgh, Pennsylvania 15241
</TABLE>
The parties hereby agree to allocate liabilities and benefits arising
from such consolidated return in the manner prescribed below which is
consistent with Rule 45(c) of the Public Utility Holding Company Act of 1935:
(1) Definitions:
"Consolidated tax" is the aggregate current U.S. federal
income tax liability for a tax year, being the tax shown on
the consolidated federal income tax return and any
adjustments thereto which are thereafter determined. If,
because of a consolidated net operating loss, investment tax
credit, carrybacks, etc., a refund is due, the consolidated
tax for the current year will be that refund.
"Separate return tax" is the tax on the corporate taxable
income of a company including the effect of any particular
feature of the tax law, differences in tax
<PAGE> 194
Exhibit D
Page 3 of 4
rates, investment tax credits, etc., applicable to it.
Separate return tax may be either positive or negative.
(2) The consolidated tax shall be apportioned among the members
of the group utilizing the "separate return tax" method in
the manner prescribed below:
(a) Intercompany eliminations recorded by consolidation
entries which affect the consolidated tax will be
assigned to the appropriate member necessitating the
intercompany elimination for the purpose of computing
separate return tax.
(b) With the exception of the parent corporation, each
member of the group having negative separate return
tax will receive current payment in an amount equal to
such negative separate return tax. Such member will
not participate in the allocation of the parent
corporation loss.
The parent corporation will be allocated available
foreign source income tax credits or the tax benefit
of deductions to the extent necessary to offset
withholding taxes paid to the Canadian Government of
intercompany interest and dividend payments received
from Columbia Gas Development of Canada Ltd. Any
parent corporation gain or loss realized from its sale
of its interest in subsidiaries' securities will be
assigned to parent corporation and will not be
allocated to other members.
If, because of carryback or other restrictions, the
aggregate of all negative separate return taxes is not
entirely usable in the current year's return, the
portion which is usable will be apportioned among the
members having negative separate return tax in
proportion thereto.
(c) Each member of the group having, after intercompany
eliminations, positive separate return tax will pay an
amount equal to its proportionate share of the
consolidated tax liability (adjusted for benefits paid
under sub-section (b) above to members having negative
separate return tax) based on the ratio of its
separate return tax to the total of the separate
return taxes of members having positive separate
return tax.
(3) Carryover and other rights, if any, accrued under past
regulations and orders for which a member company has not
been paid shall be accounted for as follows: Each such
member generating such benefits shall receive payment to the
earliest year in which statutory carryover periods have not
expired. Payment will be received, following execution of
this agreement, from the
<PAGE> 195
Exhibit D
Page 4 of 4
companies which benefitted form the prior deductions in the
same ratios initially used to distribute such benefits.
(4) In the event the consolidated return reflects a net
operating loss or excess investment tax credit and cannot be
totally carried back, the tax benefit of such net operating
loss or excess shall be allowed as a carryover to future
years. In the event they cannot be fully utilized on a
consolidated basis, a proportionate allocation under Section
(2) will be made. If and when the tax benefits are
realizable on a consolidated basis in a subsequent year,
such tax benefits shall be allocated to the members
originally generating such benefits.
(5) In the event the consolidated tax is subsequently materially
revised by amended returns, interim payments or refunds, or,
in any event, by a final determination, such changes shall
be allocated in the same manner as though the adjustments on
which they are based had formed part of the original
consolidated return. The tax effect of negotiated
adjustments which do not involve an item-by-item
modification of the return shall be allocated in accordance
with Section (2)(c) of this agreement or, considering all
the facts and circumstances, under such other method as may
be determined to be more fair and equitable.
(6) No subsidiary company, as a result of the method of
allocation described herein, shall be required to pay more
tax than its separate return tax as defined in Section (1).
(7) This agreement shall apply to the consolidated federal
income tax return to be filed for the calendar year 1987 and
all subsequent years unless subsequently amended. In the
case of unexpected events, including changes in the tax laws
which may require modifications to the agreement, amendment
to this agreement shall be conditioned on approval by the
Securities and Exchange Commission.
December 31, 1994
<TABLE> <S> <C>
<ARTICLE> OPUR1
<SUBSIDIARY>
<NUMBER> 1
<NAME> CGS
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-START> JAN-01-1994
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 3,456,708
<OTHER-PROPERTY-AND-INVEST> 930,633
<TOTAL-CURRENT-ASSETS> 2,485,125
<TOTAL-DEFERRED-CHARGES> 292,414
<OTHER-ASSETS> 0
<TOTAL-ASSETS> 7,164,880
<COMMON> 505,633
<CAPITAL-SURPLUS-PAID-IN> 601,828
<RETAINED-EARNINGS> 430,596
<TOTAL-COMMON-STOCKHOLDERS-EQ> 1,468,091
0
0
<LONG-TERM-DEBT-NET> 4,266
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 0
0
<CAPITAL-LEASE-OBLIGATIONS> 0
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 5,692,523
<TOT-CAPITALIZATION-AND-LIAB> 7,164,880
<GROSS-OPERATING-REVENUE> 2,833,418
<INCOME-TAX-EXPENSE> 145,961
<OTHER-OPERATING-EXPENSES> 2,460,189
<TOTAL-OPERATING-EXPENSES> 2,460,189
<OPERATING-INCOME-LOSS> 373,229
<OTHER-INCOME-NET> 33,745
<INCOME-BEFORE-INTEREST-EXPEN> 406,974
<TOTAL-INTEREST-EXPENSE> 14,793
<NET-INCOME> 240,647
0
<EARNINGS-AVAILABLE-FOR-COMM> 240,647
<COMMON-STOCK-DIVIDENDS> 0
<TOTAL-INTEREST-ON-BONDS> 0
<CASH-FLOW-OPERATIONS> 572,761
<EPS-PRIMARY> 4.76
<EPS-DILUTED> 4.76
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
EX-27
Form U-1 for The Columbia Gas System
</LEGEND>
<SUBSIDIARY>
<NUMBER> 2
<NAME> CKY
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-START> JAN-01-1994
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 106,434
<OTHER-PROPERTY-AND-INVEST> 0
<TOTAL-CURRENT-ASSETS> 33,222
<TOTAL-DEFERRED-CHARGES> 10,769
<OTHER-ASSETS> 0
<TOTAL-ASSETS> 150,425
<COMMON> 15,806
<CAPITAL-SURPLUS-PAID-IN> 174
<RETAINED-EARNINGS> 33,907
<TOTAL-COMMON-STOCKHOLDERS-EQ> 49,887
0
0
<LONG-TERM-DEBT-NET> 320
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 45,901
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 0
0
<CAPITAL-LEASE-OBLIGATIONS> 0
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 54,317
<TOT-CAPITALIZATION-AND-LIAB> 150,425
<GROSS-OPERATING-REVENUE> 122,280
<INCOME-TAX-EXPENSE> 3,199
<OTHER-OPERATING-EXPENSES> 111,994
<TOTAL-OPERATING-EXPENSES> 111,994
<OPERATING-INCOME-LOSS> 10,286
<OTHER-INCOME-NET> (55)
<INCOME-BEFORE-INTEREST-EXPEN> 10,231
<TOTAL-INTEREST-EXPENSE> 3,191
<NET-INCOME> 3,841
0
<EARNINGS-AVAILABLE-FOR-COMM> 3,841
<COMMON-STOCK-DIVIDENDS> 506
<TOTAL-INTEREST-ON-BONDS> 0
<CASH-FLOW-OPERATIONS> 11,547
<EPS-PRIMARY> 0.00
<EPS-DILUTED> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
EX-27
Form U-1 for The Columbia Gas System
</LEGEND>
<SUBSIDIARY>
<NUMBER> 3
<NAME> COH
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-START> JAN-01-1994
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 686,189
<OTHER-PROPERTY-AND-INVEST> 0
<TOTAL-CURRENT-ASSETS> 418,011
<TOTAL-DEFERRED-CHARGES> 150,451
<OTHER-ASSETS> 0
<TOTAL-ASSETS> 1,254,651
<COMMON> 119,240
<CAPITAL-SURPLUS-PAID-IN> 0
<RETAINED-EARNINGS> 244,253
<TOTAL-COMMON-STOCKHOLDERS-EQ> 363,493
0
0
<LONG-TERM-DEBT-NET> 1,418
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 290,683
<COMMERCIAL-PAPER-OBLIGATIONS> 0
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0
<CAPITAL-LEASE-OBLIGATIONS> 0
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 599,057
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<INCOME-TAX-EXPENSE> 14,242
<OTHER-OPERATING-EXPENSES> 1,079,349
<TOTAL-OPERATING-EXPENSES> 1,079,349
<OPERATING-INCOME-LOSS> 59,697
<OTHER-INCOME-NET> (515)
<INCOME-BEFORE-INTEREST-EXPEN> 59,182
<TOTAL-INTEREST-EXPENSE> 12,394
<NET-INCOME> 32,546
0
<EARNINGS-AVAILABLE-FOR-COMM> 32,546
<COMMON-STOCK-DIVIDENDS> 16,694
<TOTAL-INTEREST-ON-BONDS> 0
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<EPS-PRIMARY> 0.00
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
EX-27
Form U-1 for The Columbia Gas System
</LEGEND>
<SUBSIDIARY>
<NUMBER> 4
<NAME> CMD
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-START> JAN-01-1994
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
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0
0
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0
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0
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
EX-27
Form U-1 for The Columbia Gas System
</LEGEND>
<SUBSIDIARY>
<NUMBER> 5
<NAME> CPA
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-START> JAN-01-1994
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
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0
0
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0
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0
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
EX-27
Form U-1 for The Columbia Gas System
</LEGEND>
<SUBSIDIARY>
<NUMBER> 6
<NAME> COS
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-START> JAN-01-1994
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 190,968
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<TOTAL-ASSETS> 241,805
<COMMON> 24,305
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<RETAINED-EARNINGS> 42,301
<TOTAL-COMMON-STOCKHOLDERS-EQ> 69,575
0
0
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0
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0
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<CASH-FLOW-OPERATIONS> 18,505
<EPS-PRIMARY> 0.00
<EPS-DILUTED> 0.00
</TABLE>
