<PAGE> 1
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U5S
ANNUAL REPORT
For the Year Ended December 31, 1997
Filed pursuant to the
Public Utility Holding Company Act of 1935
COLUMBIA ENERGY GROUP
(Name of registered holding company)
12355 Sunrise Valley Drive, Suite 300
Reston, Virginia 20191-3420
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<PAGE> 2
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U5S
ANNUAL REPORT
For the Year Ended December 31, 1997
Filed pursuant to the
Public Utility Holding Company Act of 1935
COLUMBIA ENERGY GROUP
(Name of registered holding company)
12355 Sunrise Valley Drive, Suite 300
Reston, Virginia 20191-3420
================================================================================
<PAGE> 3
TABLE OF CONTENTS
<TABLE>
<CAPTION>
PAGE NO.
OR
ITEM EXHIBIT
- ---- -------
<S> <C>
1 System Companies and Investment Therein as of December 31, 1997............................ 3-6
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 ................................ 8-10
5 Investments in Securities of Nonsystem Companies .......................................... 10
6 Officers and Directors .................................................................... 11-44
7 Contributions and Public Relations ........................................................ 45
8 Service, Sales and Construction Contracts ................................................. 46-49
9 Wholesale Generators and Foreign Utility Companies ........................................ 49
10 Financial Statements and Exhibits ......................................................... 50
Consolidating Financial Statements ........................................................ 50 (F1 to F6)
Signature of Registrant's Officer ......................................................... 52
Exhibits: 53
Securities and Exchange Act of 1934 Reports ............................................. A
Index to Corporate Organization & By-Laws Exhibits ...................................... B
Indentures or Contracts ................................................................. C
Tax Allocation Agreement for 1997 ....................................................... 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
</TABLE>
2
<PAGE> 4
ITEM 1. SYSTEM COMPANIES AND INVESTMENT THEREIN AS OF DECEMBER 31, 1997
<TABLE>
<CAPTION>
Issuer Owner
% Of Book Book
Number of Common Voting Value Value
Name of Company (Company Abbreviation) Shares Owned Power ($000) ($000)
-------------------------------------- ---------------- ------ ------- -------
<S> <C> <C> <C> <C>
Columbia Energy Group (Registrant, CG)
Columbia Gas of Kentucky, Inc. (CKY) ....................... 952,248 100.0 66,661 66,661
Unsecured Debt .......................................... - - 54,494 54,494
Columbia Gas of Maryland, Inc. (CMD) ....................... 2,883 100.0 22,400 22,400
Unsecured Debt .......................................... - - 17,819 17,819
Columbia Gas of Ohio, Inc. (COH)............................ 4,769,585 100.0 422,486 422,486
Unsecured Debt .......................................... - - 319,959 319,959
Columbia Gas of Pennsylvania, Inc. (CPA) ................... 3,405,112 100.0 216,115 216,115
Unsecured Debt........................................... - - 148,451 148,451
Columbia Gas of Virginia, Inc. (COS) ...................... 1,306,106 100.0 141,795 142,078
Unsecured Debt........................................... - - 116,677 116,677
Columbia Gas Transmission Corporation (TCO) ................ 1,934 100.0 977,067 977,067
Unsecured Debt........................................... - - 1,913 1,913
Secured Debt............................................. - - 643,000 643,000
Columbia Gulf Transmission Company (CGT) ................... 1,993 100.0 103,854 103,854
Unsecured Debt........................................... - - 68,414 68,414
Unconsolidated Affiliates:
Trailblazer Pipeline Company (a)...................... - 33.3 24,705 24,705
Columbia Atlantic Trading Corporation (CAT) ................ 308 100.0 629 629
Columbia Energy Group Service Corporation (CS) ............. 3,000 100.0 13,186 13,186
Unsecured Debt .......................................... - - 16,043 16,043
Columbia LNG Corporation (CLG) ............................. 3,519 92.1 19,752 23,501
CLNG Corporation (CLNG) ................................. 155 100.0 249 249
Unconsolidated Affiliate:
Cove Point LNG Limited Partnership (b) ................ - 50.0 13,611 13,611
Columbia Natural Resources, Inc. (CNR)...................... 5,379,029 100.0 225,387 225,387
Unsecured Debt .......................................... - - 114,850 114,850
Subsidiary:
Alamco, Inc. (c)...................................... 4,876,170 100.0 54,143 54,143
Subsidiaries:
Alamco-Delaware, Inc. (d)............................. - 100.0 6,151 6,151
Hawg-Hauling and Disposal, Inc. (e)................... 100,000 100.0 815 815
Columbia Propane Corporation (CPC) (f)..................... 1,377 100.0 23,962 24,466
Unsecured Debt........................................... - - 19,388 19,388
</TABLE>
3
<PAGE> 5
ITEM 1. Continued
<TABLE>
<CAPTION>
Issuer Owner
% Of Book Book
Number of Common Voting Value Value
Name of Company (Company Abbreviation) Shares Owned Power ($000) ($000)
-------------------------------------- ---------------- ------ ------ ------
<S> <C> <C> <C> <C>
Unconsolidated Affiliate:
Atlantic Energy, Inc. (AEI) (g)......................... 3,500 50.0 1,745 1,745
Columbia Networks Services Corporation (CNS)................... 600 - 4,358 4,358
CNS Microwave, Inc. (CMC)................................. 50 100.0 370 370
Unconsolidated Affiliate:
EnergyNet, L.L.C. (h)................................... - 50 959 959
Columbia Insurance Corporation, Ltd. (CIC)..................... 4,800 100.0 1,506 1,506
Columbia Energy Services Corporation (CES) .................... 419,657 100.0 33,603 33,603
Subsidiaries:
Columbia Energy Marketing Corporation (CEM)............... 101 100.0 1,702 1,702
Columbia Energy Power Marketing Corporation (CEPM) (i).... 1 100.0 66 66
Columbia Service Partners, Inc. (CSP)..................... 200 100.0 558 558
TriStar Capital Corporation (TCC) ............................ 3,000 100.0 1,518 1,518
Subsidiary:
TriStar Gas Technologies, Inc. (TGT)...................... 40,000 100.0 1,450 1,450
Unconsolidated Affiliate:
Enertek Partners, LP (j) .............................. - 16.5 1,201 1,201
Columbia Electric Corporation (TVC)........................... 1,835 100.0 46,139 46,139
Subsidiaries:
TriStar Pedrick General Corporation (PGC)................. 3,000 100.0 3,004 3,004
Unconsolidated Affiliate:
Pedricktown Cogeneration Limited
Partnership (k)...................................... - 15.0 3,826 3,826
TriStar Pedrick Limited Corporation (PLC)................. 42 100.0 7,175 7,175
Unconsolidated Affiliate:
Pedricktown Cogeneration Limited
Partnership (k)...................................... - 35.0 8,928 8,928
*TriStar Fuel Cells Corporation (FC)........................ 3,000 100.0 - -
TriStar Binghamton General Corporation (BGC).............. 118 100.0 1,344 1,344
Unconsolidated Affiliate:
Binghamton Cogeneration Limited
Partnership (l)........................................ - 10.0 380 380
TriStar Binghamton Limited Corporation (BLC).............. 142 100.0 3,247 3,247
Unconsolidated Affiliate:
Binghamton Cogeneration Limited
</TABLE>
4
<PAGE> 6
ITEM 1. Continued
<TABLE>
<CAPTION>
Issuer Owner
% Of Book Book
Number of Common Voting Value Value
Name of Company (Company Abbreviation) Shares Owned Power ($000) ($000)
-------------------------------------- ---------------- ------ ------ ------
<S> <C> <C> <C> <C>
Partnership (l)........................................ - 23.3 884 884
* TriStar Georgetown General Corporation (GGC)............... 401 100.0 - -
Unconsolidated Affiliate:
* Georgetown Cogeneration Limited
Partnership........................................... - 1.0 - -
* TriStar Georgetown Limited Corporation (GLC).............. 3,000 100.0 - -
Unconsolidated Affiliate:
* Georgetown Cogeneration Limited
Partnership ......................................... - 49.0 - -
TriStar Vineland General Corporation (VGC)................. 2,704 100.0 512 512
Unconsolidated Affiliate:
Vineland Cogeneration Limited Partnership (m).......... - 5.0 412 412
TriStar Vineland Limited Corporation (VLC)................. 2,385 100.0 4,232 4,232
Unconsolidated Affiliate:
Vineland Cogeneration Limited Partnership (m).......... - 45.0 3,705 3,705
TriStar Rumford Limited Corporation (RL)................... 1 100.0 3,144 3,144
Unconsolidated Affiliate:
Rumford Cogeneration Company (n)..................... - 10.2 7,070 7,070
* TriStar Nine Corporation (TVC9)........................... 1 100.0 - -
* TriStar Ten Corporation (TVC10)........................... 1 100.0 - -
Unconsolidated Affiliate:
Cogeneration Partners of America (o) .................... - 50.0 - -
</TABLE>
* Inactive companies.
(a) Partnership interest in the Trailblazer Pipeline Company. Partners each
owning a thirty-three and one- third percent (33-1/3%).
(b) As of 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).
(c) On August 7, 1997, CNR acquired Alamco, a gas and oil production
company that operates in the Appalachian Basin for $101 million. Alamco
was incorporated in the state of Delaware.
(d) Alamco-Delaware, Inc. was incorporated in Delaware on July 21, 1994.
Alamco-Delaware manage and invest the capital of Alamco not needed for
other corporate activities.
(e) Hawg Hauling and Disposal, Inc. was incorporated in West Virginia on
March 17, 1993. Hawg Hauling and Disposal, Inc. is a commercial brine
hauling and disposal service company. The company accepts brine, which
is produced naturally with gas and oil, from wells operated by CNR as
well as from other operators.
5
<PAGE> 7
(f) In October 1997, CPI was merged into CPC.
(g) Atlantic Energy, Inc. is an unconsolidated subsidiary of Columbia
Propane Corp., accounted for as an investment using the equity method.
Columbia Propane Corp. and Conoco, Inc. each have a fifty percent (50%)
ownership interest in the propane storage facility.
(h) EnergyNet, L.L.C. was organized in the state of Delaware on June 30,
1997. EnergyNet was established primarily to develop and market a
centralized energy data exchange service that will enable customers
involved in the transportation and distribution of natural gas to
conduct business transactions through one central access point via the
internet or private network. In June 1997, CNS contributed $1,000,000
to the partnership for 50% ownership.
(i) Columbia Power Marketing Corporation (CPM) was incorporated in the
state of Delaware on December 15, 1997. Effective March 2, 1998, the
name was changed to Columbia Energy Power Marketing Corporation (CEPM).
CEPM holds a FERC license to sell electricity.
(j) 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 (8.26%); Brooklyn Union Gas Company (16.32%), CNG
Technologies, Inc. (16.54%); Enron Venture Capital Company (16.54%);
Equitable Resources, Inc. (8.26%); Southern California Gas Company
(16.54%); and TriStar Gas Technologies, Inc. (16.54%). Scientific
Advances, Inc. is the general partner owning (1.00%)
(k) 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.
(l) 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.
(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. (10.2%),
Nichimen America, Inc. (10.2%), Dominion Energy, Inc. (10.2%), Rumford
Power Associates, Inc. (14.1%) and Catamount Rumford Corp. (15.1%).
Rumford Cogeneration, Inc. is the general partner owning 30.0%.
(o) Partnership interest in Cogeneration Partners of America. Columbia
Electric 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 Columbia Electric Corporation and Atlantic
Generation, Inc.
6
<PAGE> 8
ITEM 2. ACQUISITIONS OR SALES OF UTILITY ASSETS
None.
ITEM 3. ISSUE, SALE, PLEDGE, GUARANTEE OR ASSUMPTION OF SYSTEM SECURITIES
None.
7
<PAGE> 9
ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES DURING 1997
CONFIDENTIAL TREATMENT REQUESTED
8
<PAGE> 10
CONFIDENTIAL TREATMENT REQUESTED
9
<PAGE> 11
ITEM 5. INVESTMENTS IN SECURITIES OF NONSYSTEM COMPANIES
CONFIDENTIAL TREATMENT REQUESTED
10
<PAGE> 12
ITEM 6. OFFICERS AND DIRECTORS
Part I. Names, principal business address and positions held as of December
31, 1997.
The names, principal address and positions held as of December 31,
1997 of the officers and directors of System companies is presented in
the tables on pages 13 through 30. The principal business address of
each officer and director is indicated in such tables by the numbers
(1) through (34). 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 12355 Sunrise Valley Drive, Suite 300, Reston, Virginia 20191-3420
2 200 Civic Center Drive, Columbus, Ohio 43215
3 205 Van Buren, #120, Herndon, Virginia 20170
4 77 Beachside Avenue, Green Farms, Connecticut 06436
5 2077 Jupiter Hills Lane, Henderson, Nevada 89012
6 10 Harleston Green, Hilton Head, South Carolina 29928
7 62 Sherwood Drive, New Providence, New Jersey 07974
8 One Seagate, Suite 1400, Toledo, Ohio 43653
9 1700 MacCorkle Avenue, S.E., Charleston, West Virginia 23236
10 1801-L Sara Drive, Chesapeake, Virginia 23320
11 3147 Keywest Court, Wichita, Kansas 67204
12 700 13th St., N.W., Suite 900, Washington, DC 20005
13 2603 Augusta, Houston, Texas 77057-5637
14 Dial Tower, Phoenix, Arizona 85077-1921
15 1600 Dublin Road, Columbus, Ohio 43215
16 1455 Pennsylvania Avenue, Washington, DC 20004
17 9200 Arboretum Parkway, Richmond, Virginia 23235
18 P.O. Box 6070, Charleston, West Virginia 25362
19 2100 Cove Point Road, Lusby, Maryland 20687
20 14 Brookside Rd., Biltmore Forest, Asheveille, North Carolina 28803
21 No. 4 Bottomley Crescent, New Albany, Ohio 43054
22 509 Preston Avenue, Blacksburg, Virginia 24061-0200
23 12801 Fair Lakes Parkway, Fairfax, Virginia 22030
24 2001 Mercer Road, Lexington, Kentucky 40511
25 9001 Arboretum Parkway, Richmond, Virginia 23235
26 650 Washington Road, Pittsburgh, Pennsylvania 15228-2703
27 505 King Avenue, Columbus, Ohio 43201
28 121 Hillpointe Drive, #100, Canonsburg, Pennsylvania 15317
29 P.O. Box 2187, Houston , Texas 77252
30 120 Arrandale Boulevard, Exton, Pennsylvania 19341-2512
31 1330 Post Oak Blvd., 20th Floor, Houston, Texas 77056
32 5501 Frantz Road, Dublin, Ohio 43017
33 12 Ridge Road, Bronxville, New York 10708
34 910 Newton Road, Charleston, West Virginia 25314
11
<PAGE> 13
POSITION KEY CODE
<TABLE>
<S> <C> <C>
KEY CB - Chairman of the Board CAO - Chief Accounting Officer VP - Vice President
D - Director CLO - Chief Legal Officer T - Treasurer
CEO - Chief Executive Officer P - President S - Secretary
COO - Chief Operating Officer EVP - Executive Vice President C - Controller
CFO - Chief Financial Officer SVP - Senior Vice President GA - General Auditor
GC - General Counsel
</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 thirteen subsidiaries of TVC
listed in Item 1 are identical to the officers of TVC. The directors of
each of the thirteen subsidiaries of TVC are James Alexander, Michael
Gluckman and Raymond Kaskel.
(c) The officers and directors of the subsidiary of TCC listed in Item 1
are identical to the officers and directors of TCC.
(d) The officers of EnergyNet L.L.C., a 50% owned affiliate of CNS, are
Steven Kretsch - President, Edward Harvey - Treasurer and Mark Cleaves
- Secretary.
(e) The officers and directors of Alamco-Delaware, Inc., a subsidiary of
Alamco are:
William H. Harmon - President, Chief Executive Officer and Director
Mark A. Chandler - Treasurer and Director
Frederick G. Kolb - Vice President
James W. Trost - Vice President
Willard Watson, Jr. - Vice President
R. Neal Pierce, Jr. - Secretary
Edward R. Lincoln - Controller
(f) The officers and directors of Hawg Hauling and Disposal, Inc., a
subsidiary of Alamco are:
William H. Harmon - President, Chief Executive Officer and Director
Mark A. Chandler - Treasurer and Director
Frederick G. Kolb - Vice President
James W. Trost - Vice President
Willard Watson, Jr. - Vice President and Director
R. Neal Pierce, Jr. - Secretary and Director
12
<PAGE> 14
ITEM 6. Continued
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
CG AEI CAT CKY CMD COH CPA CS TCO CGT CPC CLG CNR
(a) (d)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Catherine G. Abbott CEO CEO
Fairfax,Virginia (23) D P,D D
- ------------------------------------------------------------------------------------------------------------------------------------
Carolyn M. Afshar
Reston, Virginia (1) S S
- ------------------------------------------------------------------------------------------------------------------------------------
Richard F. Albosta
New Providence, New Jersey (7) D D
- ------------------------------------------------------------------------------------------------------------------------------------
Philip R. Aldridge
Reston, Virginia (1) VP
- ------------------------------------------------------------------------------------------------------------------------------------
James T. Alexander
Herndon, Virginia (3)
- ------------------------------------------------------------------------------------------------------------------------------------
Steven R. Anastasio
Reston, Virginia (1) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Carmen Andreoli
Houston, Texas (31)
- ------------------------------------------------------------------------------------------------------------------------------------
Michael Ashford
Reston, Virginia (1)
- ------------------------------------------------------------------------------------------------------------------------------------
Gary W. Babin
Columbus, Ohio (2) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Gary A. Barnard T T
Charleston, West Virginia (9) C C
- ------------------------------------------------------------------------------------------------------------------------------------
Richard W. Beardsley
Charleston, West Virginia (18) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Robert H. Beeby
Green Farms, Connecticut (4) D D
- ------------------------------------------------------------------------------------------------------------------------------------
Napoleon A. Bell
Henderson, Nevada (5) D
- ------------------------------------------------------------------------------------------------------------------------------------
Margaret W. Beasley
Richmond, Virginia (17) S
- ------------------------------------------------------------------------------------------------------------------------------------
Tejinder S. Bindra
Reston, Virginia (1) S S S
- ------------------------------------------------------------------------------------------------------------------------------------
Mary C. Bloom
Fairfax, Virginia (23) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Douglas G. Borror
Dublin, Ohio (32) D
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
13
<PAGE> 15
ITEM 6. Continued
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Alamco COS CES CEM CEPM CSP TVC TCC CNS CMC CIC
(e,f) (b) (c)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Catherine G. Abbott
Fairfax,Virginia (23) D D
- ----------------------------------------------------------------------------------------------------------------------------------
Carolyn M. Afshar
Reston, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Richard F. Albosta
New Providence, New Jersey (7)
- ----------------------------------------------------------------------------------------------------------------------------------
Philip R. Aldridge D D
Reston, Virginia (1) P P
- ----------------------------------------------------------------------------------------------------------------------------------
James T. Alexander
Herndon, Virginia (3) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Steven R. Anastasio
Reston, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Carmen Andreoli
Houston, Texas (31) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Michael Ashford
Reston, Virginia (1) S
- ----------------------------------------------------------------------------------------------------------------------------------
Gary W. Babin
Columbus, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------------
Gary A. Barnard
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
Richard W. Beardsley
Charleston, West Virginia (18)
- ----------------------------------------------------------------------------------------------------------------------------------
Robert H. Beeby
Green Farms, Connecticut (4)
- ----------------------------------------------------------------------------------------------------------------------------------
Napoleon A. Bell
Henderson, Nevada (5)
- ----------------------------------------------------------------------------------------------------------------------------------
Margaret W. Beasley
Richmond, Virginia (17)
- ----------------------------------------------------------------------------------------------------------------------------------
Tejinder S. Bindra
Reston, Virginia (1) S S D,VP
- ----------------------------------------------------------------------------------------------------------------------------------
Mary C. Bloom
Fairfax, Virginia (23)
- ----------------------------------------------------------------------------------------------------------------------------------
Douglas G. Borror
Dublin, Ohio (32)
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
14
<PAGE> 16
ITEM 6. Continued
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
CG AEI CAT CKY CMD COH CPA CS TCO CGT CPC CLG CNR
(a) (d)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Debbie Bowyer
Charleston, West Virginia (18) T
- -----------------------------------------------------------------------------------------------------------------------------------
Andrew Mason Brent CB P
Richmond, Virginia (17) D D
- -----------------------------------------------------------------------------------------------------------------------------------
L. Michael Bridges P P, D
Reston, Virginia (1) D CEO
- -----------------------------------------------------------------------------------------------------------------------------------
Donald A. Brooks
Charleston, West Virginia (9) VP
- -----------------------------------------------------------------------------------------------------------------------------------
Wilson K. Cadman
Wichita, Kansas (11) D D
- -----------------------------------------------------------------------------------------------------------------------------------
Richard Casali
Washington, DC (12) VP VP
- -----------------------------------------------------------------------------------------------------------------------------------
Michael Casdorph
Charleston, West Virginia (9) SVP
- -----------------------------------------------------------------------------------------------------------------------------------
Mark A. Chandler CFO
Charleston, West Virginia (18) VP
- -----------------------------------------------------------------------------------------------------------------------------------
Kenneth W. Christman
Pittsburgh, Pennsylvania (26) GC GC
- -----------------------------------------------------------------------------------------------------------------------------------
Mark A. Cleaves
Reston, Virginia (1)
- -----------------------------------------------------------------------------------------------------------------------------------
Mark C. Darell
Reston, Virginia (1)
- -----------------------------------------------------------------------------------------------------------------------------------
Rene Dartez
Houston, Texas (13) VP
- -----------------------------------------------------------------------------------------------------------------------------------
Gregory S. Davis
Houston, Texas (31)
- -----------------------------------------------------------------------------------------------------------------------------------
Dennis P. Detar
Herndon, Virginia (3)
- -----------------------------------------------------------------------------------------------------------------------------------
James H. Dissen
Charleston, West Virginia (18) VP
- -----------------------------------------------------------------------------------------------------------------------------------
Sheree L. Parks Downey
Charleston, West Virginia (9) VP
- -----------------------------------------------------------------------------------------------------------------------------------
Scott S. Eblin
Charleston, West Virginia (9) VP VP
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
15
<PAGE> 17
ITEM 6. Continued
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Alamco COS CES CEM CEPM CSP TVC TCC CNS CMC CIC
(e,f) (b) (c)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Debbie Bowyer
Charleston, West Virginia (18)
- ----------------------------------------------------------------------------------------------------------------------------------
Andrew Mason Brent
Richmond, Virginia (17)
- ----------------------------------------------------------------------------------------------------------------------------------
L. Michael Bridges
Reston, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Donald A. Brooks
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
Wilson K. Cadman
Wichita, Kansas (11)
- ----------------------------------------------------------------------------------------------------------------------------------
Richard Casali
Washington, DC (12)
- ----------------------------------------------------------------------------------------------------------------------------------
Michael Casdorph
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
Mark A. Chandler D
Charleston, West Virginia (18) T
- ----------------------------------------------------------------------------------------------------------------------------------
Kenneth W. Christman
Pittsburgh, Pennsylvania (26)
- ----------------------------------------------------------------------------------------------------------------------------------
Mark A. Cleaves
Reston, Virginia (1) S
- ----------------------------------------------------------------------------------------------------------------------------------
Mark C. Darell
Reston, Virginia (1) GC
- ----------------------------------------------------------------------------------------------------------------------------------
Rene Dartez
Houston, Texas (13)
- ----------------------------------------------------------------------------------------------------------------------------------
Gregory S. Davis
Houston, Texas (31) VP VP
- ----------------------------------------------------------------------------------------------------------------------------------
Dennis P. Detar T
Herndon, Virginia (3) C
- ----------------------------------------------------------------------------------------------------------------------------------
James H. Dissen
Charleston, West Virginia (18)
- ----------------------------------------------------------------------------------------------------------------------------------
Sheree L. Parks Downey
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
Scott S. Eblin
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
16
<PAGE> 18
ITEM 6. Continued
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
CG AEI CAT CKY CMD COH CPA CS TCO CGT CPC CLG CNR
(a) (d)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Reston, Virginia (1) VP
- -----------------------------------------------------------------------------------------------------------------------------------
Paul Feldman
Reston, Virginia (1)
- -----------------------------------------------------------------------------------------------------------------------------------
Mark A. Ferman
Charleston, West Virginia (9) VP
- -----------------------------------------------------------------------------------------------------------------------------------
Louis E. Font
Reston, Virginia (1) D,SVP
- -----------------------------------------------------------------------------------------------------------------------------------
Donato Furlano
Columbus, Ohio (15) C
- -----------------------------------------------------------------------------------------------------------------------------------
Phil Glaessner
Houston, Texas (31)
- -----------------------------------------------------------------------------------------------------------------------------------
Dr. Michael J. Gluckman
Herndon, Virginia (3)
- -----------------------------------------------------------------------------------------------------------------------------------
Stephen E. Greene
Columbus, Ohio (2) VP
- -----------------------------------------------------------------------------------------------------------------------------------
Jeffrey W. Grossman CAO
Reston, Virginia (1) VP,C D,T VP
- -----------------------------------------------------------------------------------------------------------------------------------
Patricia A. Hammick
Reston, Virginia (1) VP
- -----------------------------------------------------------------------------------------------------------------------------------
Michael Hardy
Reston, Virginia (1)
- -----------------------------------------------------------------------------------------------------------------------------------
Dan Hargreaves
Houston, Texas (31)
- -----------------------------------------------------------------------------------------------------------------------------------
William H. Harmon CEO
Charleston, West Virginia (18) D,P
- -----------------------------------------------------------------------------------------------------------------------------------
James W. Hart, Jr.
Houston, Texas (13) VP
- -----------------------------------------------------------------------------------------------------------------------------------
Edward D. Harvey, Jr.
Reston, Virginia (1)
- -----------------------------------------------------------------------------------------------------------------------------------
Stephen J. Harvey
Herndon, Virginia (3) VP
- -----------------------------------------------------------------------------------------------------------------------------------
Sharon B. Heaton
Reston, Virginia (1) VP
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
17
<PAGE> 19
ITEM 6. Continued
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Alamco COS CES CEM CEPM CSP TVC TCC CNS CMC CIC
(e,f) (b) (c)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Reston, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Paul Feldman CEO
Reston, Virginia (1) D,P
- ----------------------------------------------------------------------------------------------------------------------------------
Mark A. Ferman
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
Louis E. Font
Reston, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Donato Furlano
Columbus, Ohio (15) T T
- ----------------------------------------------------------------------------------------------------------------------------------
Phil Glaessner CEO,D
Houston, Texas (31) SVP P
- ----------------------------------------------------------------------------------------------------------------------------------
Dr. Michael J. Gluckman CEO
Herndon, Virginia (3) P,D
- ----------------------------------------------------------------------------------------------------------------------------------
Stephen E. Greene
Columbus, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------------
Jeffrey W. Grossman
Reston, Virginia (1) T D
- ----------------------------------------------------------------------------------------------------------------------------------
Patricia A. Hammick
Reston, Virginia (1) D D
- ----------------------------------------------------------------------------------------------------------------------------------
Michael Hardy
Reston, Virginia (1) D
- ----------------------------------------------------------------------------------------------------------------------------------
Dan Hargreaves
Houston, Texas (31) VP
- ----------------------------------------------------------------------------------------------------------------------------------
William H. Harmon D,P
Charleston, West Virginia (18) CEO
- ----------------------------------------------------------------------------------------------------------------------------------
James W. Hart, Jr.
Houston, Texas (13)
- ----------------------------------------------------------------------------------------------------------------------------------
Edward D. Harvey, Jr.
Reston, Virginia (1) T
- ----------------------------------------------------------------------------------------------------------------------------------
Stephen J. Harvey
Herndon, Virginia (3) SVP T P,D D
- ----------------------------------------------------------------------------------------------------------------------------------
Sharon B. Heaton
Reston, Virginia (1) D
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
18
<PAGE> 20
ITEM 6. Continued
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------------
CG AEI CAT CKY CMD COH CPA CS TCO CGT CPC CLG CNR
(a) (d)
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
James P. Heffernan
Bronxville, New York (33) D D
- ------------------------------------------------------------------------------------------------------------------------------------
Laura M. Hehner
Richmond, Virginia (25)
- ------------------------------------------------------------------------------------------------------------------------------------
Karen L. Hendrick
Reston, Virginia (1) D
- ------------------------------------------------------------------------------------------------------------------------------------
Donald P. Hodel
Chesapeake, Virginia (10) D D
- ------------------------------------------------------------------------------------------------------------------------------------
Malcolm T. Hopkins
Asheville, North Carolina (20) D D
- ------------------------------------------------------------------------------------------------------------------------------------
Thomas L. Hughes
Reston, Virginia (1) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Mike John
Charleston, West Virginia (18) VP
- ------------------------------------------------------------------------------------------------------------------------------------
J. Bennett Johnston
Washington, D.C. (16) D
- ------------------------------------------------------------------------------------------------------------------------------------
Edward P. Jarmas
Herndon, Virginia (3)
- ------------------------------------------------------------------------------------------------------------------------------------
James A. Jarrell
Charleston, West Virginia (9) S,GC
- ------------------------------------------------------------------------------------------------------------------------------------
John H. Jennrich
Reston, Virginia (1) D, VP
- ------------------------------------------------------------------------------------------------------------------------------------
Malcolm Jozoff
Phoenix, Arizona (14) D D
- ------------------------------------------------------------------------------------------------------------------------------------
Raymond R. Kaskel D
Reston, Virginia (1) D SVP D D D
- ------------------------------------------------------------------------------------------------------------------------------------
Joseph W. Kelly
Lexington, Kentucky (24) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Charlotte P. Kessler
New Albany, Ohio (21) D
- ------------------------------------------------------------------------------------------------------------------------------------
Glen L. Kettering D
Fairfax, Virginia (23) SVP
- ------------------------------------------------------------------------------------------------------------------------------------
Peter J. Kinsella
Fairfax, Virginia (23) VP
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
19
<PAGE> 21
ITEM 6. Continued
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Alamco COS CES CEM CEPM CSP TVC TCC CNS CMC CIC
(e,f) (b) (c)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
James P. Heffernan
Bronxville, New York (33)
- ----------------------------------------------------------------------------------------------------------------------------------
Laura M. Hehner
Richmond, Virginia (25) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Karen L. Hendrick
Reston, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Donald P. Hodel
Chesapeake, Virginia (10)
- ----------------------------------------------------------------------------------------------------------------------------------
Malcolm T. Hopkins
Asheville, North Carolina (20)
- ----------------------------------------------------------------------------------------------------------------------------------
Thomas L. Hughes
Reston, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Mike John
Charleston, West Virginia (18)
- ----------------------------------------------------------------------------------------------------------------------------------
J. Bennett Johnston
Washington, D.C. (16) D
- ----------------------------------------------------------------------------------------------------------------------------------
Edward P. Jarmas
Herndon, Virginia (3) VP
- ----------------------------------------------------------------------------------------------------------------------------------
James A. Jarrell
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
John H. Jennrich
Reston, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Malcolm Jozoff
Phoenix, Arizona (14)
- ----------------------------------------------------------------------------------------------------------------------------------
Raymond R. Kaskel
Reston, Virginia (1) D D D D D
- ----------------------------------------------------------------------------------------------------------------------------------
Joseph W. Kelly
Lexington, Kentucky (24)
- ----------------------------------------------------------------------------------------------------------------------------------
Charlotte P. Kessler
New Albany, Ohio (21)
- ----------------------------------------------------------------------------------------------------------------------------------
Glen L. Kettering
Fairfax, Virginia (23)
- ----------------------------------------------------------------------------------------------------------------------------------
Peter J. Kinsella
Fairfax, Virginia (23)
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
20
<PAGE> 22
ITEM 6. Continued
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------------
CG AEI CAT CKY CMD COH CPA CS TCO CGT CPC CLG CNR
(a) (d)
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Fredrick G. Kolb
Charleston, West Virginia (18) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Marshall D. Lang
Canonsburg, Pennsylvania (28)
- ------------------------------------------------------------------------------------------------------------------------------------
William J, Lavelle
Columbus, Ohio (2) VP VP VP
- ------------------------------------------------------------------------------------------------------------------------------------
Dr. William E. Lavery
Blacksburg, Virginia (22) D
- ------------------------------------------------------------------------------------------------------------------------------------
James R. Lee
Columbus, Ohio (2) SVP SVP SVP SVP
- ------------------------------------------------------------------------------------------------------------------------------------
Ed R. Lincoln
Charleston, West Virginia (18) C
- ------------------------------------------------------------------------------------------------------------------------------------
C. Thomas Lowrie
Pittsburgh, Pennsylvania (26) VP VP
- ------------------------------------------------------------------------------------------------------------------------------------
David L. Lugar D
Houston, Texas (29) P
- ------------------------------------------------------------------------------------------------------------------------------------
Stephen T. MacQueen
Lusby, Maryland (19) C
- ------------------------------------------------------------------------------------------------------------------------------------
Philip Magley SVP
Reston, Virginia (1) D
- ------------------------------------------------------------------------------------------------------------------------------------
Richard. A. Manson
Canonsburg, Pennsylvania (28)
- ------------------------------------------------------------------------------------------------------------------------------------
W. Harris Marple
Houston, Texas (13) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Gerald E. Mayo
Hilton Head, S. Carolina (6) D D
- ------------------------------------------------------------------------------------------------------------------------------------
James C. McDonnell
Reston, Virginia (1)
- ------------------------------------------------------------------------------------------------------------------------------------
Andrew P. McDowell
Reston, Virginia (1)
- ------------------------------------------------------------------------------------------------------------------------------------
Dennis W. McFarland SVP
Columbus, Ohio (2) T T
- ------------------------------------------------------------------------------------------------------------------------------------
James A. McGehee, Jr. VP
Richmond, Virginia (17) D
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
21
<PAGE> 23
ITEM 6. Continued
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Alamco COS CES CEM CEPM CSP TVC TCC CNS CMC CIC
(e,f) (b) (c)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Fredrick G. Kolb
Charleston, West Virginia (18) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Marshall D. Lang
Canonsburg, Pennsylvania (28) VP VP
- ----------------------------------------------------------------------------------------------------------------------------------
William J, Lavelle
Columbus, Ohio (2) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Dr. William E. Lavery
Blacksburg, Virginia (22) D
- ----------------------------------------------------------------------------------------------------------------------------------
James R. Lee
Columbus, Ohio (2) SVP
- ----------------------------------------------------------------------------------------------------------------------------------
Ed R. Lincoln
Charleston, West Virginia (18)
- ----------------------------------------------------------------------------------------------------------------------------------
C. Thomas Lowrie
Pittsburgh, Pennsylvania (26)
- ----------------------------------------------------------------------------------------------------------------------------------
David L. Lugar
Houston, Texas (29)
- ----------------------------------------------------------------------------------------------------------------------------------
Stephen T. MacQueen
Lusby, Maryland (19)
- ----------------------------------------------------------------------------------------------------------------------------------
Philip Magley
Reston, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Richard. A. Manson
Canonsburg, Pennsylvania (28) VP
- ----------------------------------------------------------------------------------------------------------------------------------
W. Harris Marple
Houston, Texas (13)
- ----------------------------------------------------------------------------------------------------------------------------------
Gerald E. Mayo
Hilton Head, S. Carolina (6)
- ----------------------------------------------------------------------------------------------------------------------------------
James C. McDonnell
Reston, Virginia (1) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Andrew P. McDowell
Reston, Virginia (1) S
- ----------------------------------------------------------------------------------------------------------------------------------
Dennis W. McFarland
Columbus, Ohio (2) T
- ----------------------------------------------------------------------------------------------------------------------------------
James A. McGehee, Jr.
Richmond, Virginia (17)
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
22
<PAGE> 24
ITEM 6. Continued
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
CG AEI CAT CKY CMD COH CPA CS TCO CGT CPC CLG CNR
(a) (d)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Terrance L. McGill
Houston, Texas (13) SVP P,D
- ------------------------------------------------------------------------------------------------------------------------------------
Steve R. Melton S,GC
Houston, Texas (13) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Jeffrey A. Meyers
Columbus, Ohio (15)
- ------------------------------------------------------------------------------------------------------------------------------------
Ellen L. Milnes
Columbus, Ohio (2) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Pamela R. Murphy
Herndon, Virginia (3)
- ------------------------------------------------------------------------------------------------------------------------------------
Terrence J. Murphy
Pittsburgh, Pennsylvania (26) SVP SVP
- ------------------------------------------------------------------------------------------------------------------------------------
Richard A. Newbold
Columbus, Ohio (2) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Sheldon M. Nordin
Richmond, Virginia (17) T T
- ------------------------------------------------------------------------------------------------------------------------------------
Gary B. Nunnally
Houston, Texas (29) D
- ------------------------------------------------------------------------------------------------------------------------------------
Michael W. O'Donnell SVP SVP
Reston, Virginia (1) CFO D D D D CFO,D D D D D D
- ------------------------------------------------------------------------------------------------------------------------------------
Kathleen O' Leary
Fairfax, Virginia (23) VP VP
- ------------------------------------------------------------------------------------------------------------------------------------
Douglas E. Olesen
Columbus, Ohio (27) D D
- ------------------------------------------------------------------------------------------------------------------------------------
James J. Ostertag
Reston, Virginia (1)
- ------------------------------------------------------------------------------------------------------------------------------------
Nicholas A. Parillo
Reston, Virginia (1) VP
- ------------------------------------------------------------------------------------------------------------------------------------
John W. Partridge, Jr.
Columbus, Ohio (2) SVP
- ------------------------------------------------------------------------------------------------------------------------------------
David Pentzien
Fairfax, Virginia (23) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Thomas E. Perkins, Jr.
Richmond, Virginia (17) D VP
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
23
<PAGE> 25
ITEM 6. Continued
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Alamco COS CES CEM CEPM CSP TVC TCC CNS CMC CIC
(e,f) (b) (c)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Terrance L. McGill
Houston, Texas (13)
- ----------------------------------------------------------------------------------------------------------------------------------
Steve R. Melton
Houston, Texas (13)
- ----------------------------------------------------------------------------------------------------------------------------------
Jeffrey A. Meyers
Columbus, Ohio (15) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Ellen L. Milnes
Columbus, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------------
Pamela R. Murphy
Herndon, Virginia (3) VP VP
- ----------------------------------------------------------------------------------------------------------------------------------
Terrence J. Murphy
Pittsburgh, Pennsylvania (26)
- ----------------------------------------------------------------------------------------------------------------------------------
Richard A. Newbold
Columbus, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------------
Sheldon M. Nordin
Richmond, Virginia (17)
- ----------------------------------------------------------------------------------------------------------------------------------
Gary B. Nunnally
Houston, Texas (29)
- ----------------------------------------------------------------------------------------------------------------------------------
Michael W. O'Donnell
Reston, Virginia (1) D D D D D D D D D
- ----------------------------------------------------------------------------------------------------------------------------------
Kathleen O' Leary
Fairfax, Virginia (23)
- ----------------------------------------------------------------------------------------------------------------------------------
Douglas E. Olesen
Columbus, Ohio (27)
- ----------------------------------------------------------------------------------------------------------------------------------
James J. Ostertag
Reston, Virginia (1) D,VP
- ----------------------------------------------------------------------------------------------------------------------------------
Nicholas A. Parillo
Reston, Virginia (1) D,P
- ----------------------------------------------------------------------------------------------------------------------------------
John W. Partridge, Jr.
Columbus, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------------
David Pentzien
Fairfax, Virginia (23)
- ----------------------------------------------------------------------------------------------------------------------------------
Thomas E. Perkins, Jr.
Richmond, Virginia (17)
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
24
<PAGE> 26
ITEM 6. Continued
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
CG AEI CAT CKY CMD COH CPA CS TCO CGT CPC CLG CNR
(a) (d)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Cheryl A. Peters
Columbus, Ohio (2) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Dennis A. Pick
Reston, Virginia (1) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Thomas J. W. Pickard
Columbus, Ohio (2) VP
- ------------------------------------------------------------------------------------------------------------------------------------
R. Neal Pierce, Jr. S
Charleston, West Virginia (3) GC,VP
- ------------------------------------------------------------------------------------------------------------------------------------
Olga A. Polemitou VP
Reston, Virginia (1) GA
- ------------------------------------------------------------------------------------------------------------------------------------
Melanie K. Popovich
Pittsburgh, Pennsylvania (26) VP VP
- ------------------------------------------------------------------------------------------------------------------------------------
Brian E. Rettenmaier
Houston, Texas (31)
- ------------------------------------------------------------------------------------------------------------------------------------
Oliver G. Richard III CB,P CB,P
Reston, Virginia (1) CEO,D D D D CEO,D D D D D D
- ------------------------------------------------------------------------------------------------------------------------------------
Gary J. Robinson CEO CEO
Pittsburgh, Pennsylvania (26) P,D P,D D
- ------------------------------------------------------------------------------------------------------------------------------------
Stephen A. Schmotzer
Columbia, Ohio (2) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Glen E. Schuler
Fairfax, Virginia (23) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Peter M. Schwolsky CLO CLO,D
Reston, Virginia (1) SVP SVP D D D D D
- ------------------------------------------------------------------------------------------------------------------------------------
Joseph T. Sinclair
Pittsburgh, Pennsylvania (26) VP VP
- ------------------------------------------------------------------------------------------------------------------------------------
Robert C. Skaggs, Jr. CEO CEO
Columbus, Ohio (2) P,D P,D D
- ------------------------------------------------------------------------------------------------------------------------------------
Rose M. Smith
Columbus, Ohio (2) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Stephen P. Smith CFO CFO
Fairfax, Virginia (23) D,SVP D,SVP
- ------------------------------------------------------------------------------------------------------------------------------------
Lawrence D. Smore
Richmond, Virgina (25)
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
25
<PAGE> 27
ITEM 6. Continued
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Alamco COS CES CEM CEPM CSP TVC TCC CNS CMC CIC
(e,f) (b) (c)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Cheryl A. Peters
Columbus, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------------
Dennis A. Pick
Reston, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Thomas J. W. Pickard
Columbus, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------------
R. Neal Pierce, Jr.
Charleston, West Virginia (3) D,S
- ----------------------------------------------------------------------------------------------------------------------------------
Olga A. Polemitou
Reston, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Melanie K. Popovich
Pittsburgh, Pennsylvania (26)
- ----------------------------------------------------------------------------------------------------------------------------------
Brian E. Rettenmaier
Houston, Texas (31) VP
- ----------------------------------------------------------------------------------------------------------------------------------
Oliver G. Richard III
Reston, Virginia (1) D D D
- ----------------------------------------------------------------------------------------------------------------------------------
Gary J. Robinson
Pittsburgh, Pennsylvania (26)
- ----------------------------------------------------------------------------------------------------------------------------------
Stephen A. Schmotzer
Columbia, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------------
Glen E. Schuler
Fairfax, Virginia (23)
- ----------------------------------------------------------------------------------------------------------------------------------
Peter M. Schwolsky
Reston, Virginia (1) D D D
- ----------------------------------------------------------------------------------------------------------------------------------
Joseph T. Sinclair
Pittsburgh, Pennsylvania (26)
- ----------------------------------------------------------------------------------------------------------------------------------
Robert C. Skaggs, Jr.
Columbus, Ohio (2) D D
- ----------------------------------------------------------------------------------------------------------------------------------
Rose M. Smith
Columbus, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------------
Stephen P. Smith
Fairfax, Virginia (23)
- ----------------------------------------------------------------------------------------------------------------------------------
Lawrence D. Smore
Richmond, Virgina (25) VP
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
26
<PAGE> 28
ITEM 6. Continued
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
CG AEI CAT CKY CMD COH CPA CS TCO CGT CPC CLG CNR
(a) (d)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Andrew J. Sonderman D,S D,S
Columbus, Ohio (2) GC D,S GC D,S
- ------------------------------------------------------------------------------------------------------------------------------------
Leslie Strand
Charleston, West Virginia (9) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Robert D. Stuart
Fairfax, Virginia (23) VP VP
- ------------------------------------------------------------------------------------------------------------------------------------
James R. Thomas II
Charleston, West Virginia (34) D
- ------------------------------------------------------------------------------------------------------------------------------------
Jerry A. Tischer
Toledo, Ohio (8) VP
- ------------------------------------------------------------------------------------------------------------------------------------
James W. Trost
Reston, Virginia (1) VP VP VP VP VP VP VP VP VP VP VP
- ------------------------------------------------------------------------------------------------------------------------------------
Anthony Trubisz, Jr.
Richmond, Virgina (25) D
- ------------------------------------------------------------------------------------------------------------------------------------
Genevieve A. Tuchow
Columbus, Ohio (2) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Roger Vari
Pittsburgh, Pennsylvania (26) VP,T VP,T
- ------------------------------------------------------------------------------------------------------------------------------------
Bernard T. Walsh
Charleston, West Virginia (9) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Stephen M. Warnick
Fairfax, Virginia (23) VP VP VP
- ------------------------------------------------------------------------------------------------------------------------------------
Willard Watson, Jr.
Charleston, West Virginia (9) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Robert W. Welch, Jr.
Reston, Virginia (1) VP
- ------------------------------------------------------------------------------------------------------------------------------------
Robert B. Wemyss, Jr.
Richmond, Virginia (25)
- ------------------------------------------------------------------------------------------------------------------------------------
William H. White
Charleston, West Virginia (9) VP
- ------------------------------------------------------------------------------------------------------------------------------------
R. H. Whitescarver
Richmond, Virginia (17) VP
- ------------------------------------------------------------------------------------------------------------------------------------
David A. Whitmore
Reston, Virginia (1) VP
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
27
<PAGE> 29
ITEM 6. Continued
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Alamco COS CES CEM CEPM CSP TVC TCC CNS CMC CIC
(e,f) (b) (c)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Andrew J. Sonderman
Columbus, Ohio (2) D,S
- ----------------------------------------------------------------------------------------------------------------------------------
Leslie Strand
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
Robert D. Stuart
Fairfax, Virginia (23)
- ----------------------------------------------------------------------------------------------------------------------------------
James R. Thomas II
Charleston, West Virginia (34) D
- ----------------------------------------------------------------------------------------------------------------------------------
Jerry A. Tischer
Toledo, Ohio (8)
- ----------------------------------------------------------------------------------------------------------------------------------
James W. Trost
Reston, Virginia (1) VP VP VP VP VP VP VP VP VP VP
- ----------------------------------------------------------------------------------------------------------------------------------
Anthony Trubisz, Jr. P,D
Richmond, Virgina (25) CEO
- ----------------------------------------------------------------------------------------------------------------------------------
Genevieve A. Tuchow
Columbus, Ohio (2)
- ----------------------------------------------------------------------------------------------------------------------------------
Roger Vari
Pittsburgh, Pennsylvania (26)
- ----------------------------------------------------------------------------------------------------------------------------------
Bernard T. Walsh
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
Stephen M. Warnick
Fairfax, Virginia (23)
- ----------------------------------------------------------------------------------------------------------------------------------
Willard Watson, Jr.
Charleston, West Virginia (9) D,VP
- ----------------------------------------------------------------------------------------------------------------------------------
Robert W. Welch, Jr.
Reston, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------------
Robert B. Wemyss, Jr. D
Richmond, Virginia (25) VP
- ----------------------------------------------------------------------------------------------------------------------------------
William H. White
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
R. H. Whitescarver
Richmond, Virginia (17)
- ----------------------------------------------------------------------------------------------------------------------------------
David A. Whitmore
Reston, Virginia (1)
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
28
<PAGE> 30
ITEM 6. Continued
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
CG AEI CAT CKY CMD COH CPA CS TCO CGT CPC CLG CNR
(a) (d)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Larry L. Willeke
Fairfax, Virginia (23) VP
- -----------------------------------------------------------------------------------------------------------------------------------
Stephen M. Wilner
Charleston, West Virginia (9) VP VP
- -----------------------------------------------------------------------------------------------------------------------------------
William R. Wilson
Exton, Pennsylvania (30) D D
- -----------------------------------------------------------------------------------------------------------------------------------
K. Fredrick Wrenn, Jr.
Charleston, West Virginia (9) VP
- -----------------------------------------------------------------------------------------------------------------------------------
Robert M. Zulandi
Herndon, Virginia (3)
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
29
<PAGE> 31
ITEM 6. Continued
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Alamco COS CES CEM CEPM CSP TVC TCC CNS CMC CIC
(e,f) (b) (c)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Larry L. Willeke
Fairfax, Virginia (23)
- ----------------------------------------------------------------------------------------------------------------------------------
Stephen M. Wilner
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
William R. Wilson
Exton, Pennsylvania (30)
- ----------------------------------------------------------------------------------------------------------------------------------
K. Fredrick Wrenn, Jr.
Charleston, West Virginia (9)
- ----------------------------------------------------------------------------------------------------------------------------------
Robert M. Zulandi D
Herndon, Virginia (3) SVP
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
30
<PAGE> 32
Part II. Financial connections as of December 31, 1997*.
<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 of VA/MD/DC Director 70(a) & 70(c)
Richmond, Virginia
James R. Thomas II 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
PART III(a). COMPENSATION OF OFFICERS AND DIRECTORS
1997 EXECUTIVE COMPENSATION PLAN
COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS
EXECUTIVE COMPENSATION REPORT TO THE STOCKHOLDERS
GENERAL - Through the Compensation Committee (the "Committee") of the
Corporation's Board of Directors, the Board of Directors has developed an
aggressive "PAY FOR PERFORMANCE" executive compensation philosophy and programs
to implement that philosophy. Effective since 1996, these programs combine to
form the basis of the total compensation plan for senior management of the
Corporation and its subsidiaries (the "Columbia Group"), which is designed to
focus management's attention on the Corporation's strategic business initiatives
and financial performance objectives. The Committee believes that the design and
execution of the executive compensation program implemented in 1996 continue to
be critical to the Corporation's future success by FOCUSING MANAGEMENT'S
ATTENTION on the competitive business environment through compensation awards
largely based on COLUMBIA VALUE ADDED ("CVA") FINANCIAL PERFORMANCE MEASURES and
SHAREHOLDER RETURN. CVA performance measures determine the real value of a
particular investment by the extent the return on that investment exceeds the
cost of the investment, including the cost of capital. COMPENSATION PHILOSOPHY -
The Board of Directors believes that total compensation is not only payment for
services rendered to the Columbia Group, but also a means to provide a strong
motivational vehicle for the achievement of key financial and strategic goals.
The Columbia Group provides executives with the opportunity to increase their
total compensation above base salary through annual and longer-term incentive
compensation programs. Goals and objectives within the executive compensation
program are established such that their achievement will result in added value
to the Columbia Group over appropriate periods of time. This is how compensation
is linked to corporate performance. To implement the pay for performance
philosophy that the Columbia Group instituted in 1996, its executive
compensation program is designed to:
-- PLACE AT RISK significant amounts of the executives' total
compensation.
-- Base greater amounts of the executives' total compensation
upon CREATING LONG-TERM VALUE FOR THE STOCKHOLDERS.
-- TIE COMPENSATION MORE CLOSELY TO THE FORTUNES OF THE
STOCKHOLDERS through the use of a combination of cash and
STOCK-BASED INCENTIVE COMPENSATION PLANS.
-- Emphasize the achievement of both short- and longer-term
internal VALUE ADDED PERFORMANCE MEASURES as well as
STOCKHOLDER RETURN EXPECTATIONS in relationship to peer
companies.
31
<PAGE> 33
-- Provide total compensation rewards to executives in relation
to the overall financial performance of the Corporation.
As a general matter, the executive compensation program is designed to provide
base salary 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 jobs
within the Columbia Group; 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 Columbia Group's size
and integrated nature, a number of well-known energy and general industry
executive compensation surveys are utilized to determine competitive
remuneration for executives. Most of the companies in the S&P Natural Gas
Utility Index, which comprises the peer group are included in one or more of
these surveys. However, no single authoritative executive compensation survey
currently covers all of the companies in the S&P Natural Gas Utility Index.
IMPLEMENTATION OF PHILOSOPHY - The Columbia Group's executive compensation
program is administered by the Committee. The Committee is composed of six
independent, non-employee Directors. As of December 31, 1997, the Columbia
Group's executive total compensation program consisted of the following:
1. Base Salary Program
2. Annual Incentive Compensation Plan
3. Long-Term Incentive Plan
4. Benefit Plans
5. Other Arrangements
1. BASE SALARY PROGRAM - A base salary is established for each executive
position based on a comparison of compensation levels of similar positions in
the external market. Competitive base salary levels are needed to attract and
retain competent executives. Based on the energy and general industry
compensation surveys referred to above, the base salary levels for the
approximately 180 individuals comprising the executive and key employee group
presently approximate the median for similar groups with corporations of similar
size and complexity. In keeping with the philosophy of placing more compensation
at risk and of targeting base salary at market levels, increases to base salary
generally are made only in cases of promotions or marketplace equity
adjustments, if individual performance warrants.
2. ANNUAL INCENTIVE COMPENSATION PLAN - This plan, which was amended, restated
and re-implemented effective January 1, 1996, 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 Group.
Awards for 1997 performance, granted in 1998 after financial results for 1997
were final, are reflected in the Summary Compensation Table and in the Executive
Compensation Report subsection entitled "1997 Chief Executive Officer's Pay."
The award opportunities for 1997 ranged from zero to 75 percent of an
individual's annual base salary at target level performance, which depends upon
the achievement of CVA financial goals and the individual's level of
responsibility within the organization, along with an assessment of the
individual's ability to contribute directly to the financial performance of the
Columbia Group. Additional amounts can be awarded should financial performance
exceed the target level and, in certain circumstances, should the individual
exceed his or her personal performance goals.
3. LONG-TERM INCENTIVE PLAN - The executive compensation program also includes a
component to bring special attention to the important area of stockholder
return. The Long-Term Incentive Plan provides long-term incentives to officers
and other key employees of Columbia Group companies through the granting of
incentive stock options, non-qualified stock options, stock appreciation rights,
contingent stock awards, restricted stock awards, and/or any award in other
forms that the Committee may deem appropriate, consistent with the plan's
purpose. For option awards, generally the Corporation's Total Shareholder Return
performance (stock price appreciation plus dividend accruals) has been compared
to the peer group of companies included in the S&P Natural Gas Utility Index as
included elsewhere in this report. For 1997, the Committee provided awards of
options primarily when the Corporation's Total Shareholder Return exceeded the
median Total Shareholder Return of the companies which comprise this peer group
(excluding the Corporation). With respect to options, generally the amount of
awards to each participant has been based upon the evaluation of a key
employee's position, individual performance, and the Corporation's Total
Shareholder Return,
32
<PAGE> 34
though option awards to key employees may be made for reasons other than Total
Shareholder Return, subject to the discretion of the Committee. The purchase
price per share of stock deliverable upon the exercise of a non-qualified stock
option is 100 percent of the fair market value of the stock on the date of
grant. The price of options issued under the plan is credited with dividend
equivalents. Such credits may be made directly through a reduction in the
purchase price of stock subject to options. Alternatively, at the discretion of
the Committee, dividend equivalent credits may be provided indirectly, for
example through the establishment of an unsecured, unfunded bookkeeping
"account" that would track dividends declared on the stock subject to options
and that would be paid in cash to an optionee upon the exercise of an option or,
in certain circumstances, upon expiration of the option. Contingent or
restricted stock may also be awarded in very limited applications. The 1996
Long-Term Incentive Plan was approved by the stockholders of the Corporation on
April 26, 1996, and the plan became effective as of February 21, 1996. Awards
made in 1998 for 1997 performance are reflected in the Options Table elsewhere
in this report as well as the subsection of this report entitled "1997 Chief
Executive Officer's Pay."
4. BENEFIT PLANS - The Columbia Group maintains savings, retirement, medical,
dental, long-term disability, life insurance and other benefit plans of general
applicability. The Corporation has also established a Deferred Compensation
Plan, under which eligible key employees may defer base salary and annual
incentive compensation, and on which deferrals are credited with interest at
market rates. Federal regulations establish limits on the benefits which may be
paid under savings and retirement plans qualified under the Internal Revenue
Code ("IRC"). To maintain compliance, the Columbia Group caps benefits under the
qualified plans at the required levels. To provide comparable benefits to more
highly compensated employees, the Columbia Group has established a Thrift
Restoration Plan and a Pension Restoration Plan, both of which are non-qualified
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 Committee views these supplemental plans as
part of the total compensation program for executives.
5. OTHER ARRANGEMENTS - Mr. Richard, the Chairman, CEO, and President of the
Corporation, Mr. Schwolsky, Senior Vice President and Chief Legal Officer of the
Corporation, Ms. Abbott, Chief Executive Officer and President of Columbia Gas
Transmission Corporation and Chief Executive Officer of Columbia Gulf
Transmission Company, and Mr. Kaskel, Senior Vice President of the Columbia
Energy Group Service Corporation, were granted employment agreements upon hire.
For a more detailed description of the agreements, please see "Employment
Agreements" elsewhere in this report.
DEDUCTIBILITY OF COMPENSATION - The Committee has reviewed the potential impact
on the Columbia Group of Section 162(m) of the IRC, which imposes a limit on tax
deductions that the Columbia Group may claim for annual compensation in excess
of one million dollars paid to any of the CEO and the four other most highly
compensated executive officers. The Committee has determined that under current
compensation arrangements, the impact of Section 162(m) on the Columbia Group
would be limited and, therefore, has decided not to take any action at this time
to meet the requirements for a deduction for the Annual Incentive Compensation
Plan.
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 goals such as CVA or other measures to evaluate
whether stockholder value has increased. The goals set forth in these strategic
plans are the bases for evaluating the 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 goals over reasonable time
periods increases value to stockholders, and the increased compensation
opportunities for executives are directly linked to the attainment of these
goals.
1997 CHIEF EXECUTIVE OFFICER'S PAY
BASE SALARY - When Mr. Richard was hired as CEO in 1995, the Corporation 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. As
noted above, in keeping with the philosophy of placing more compensation at risk
and of targeting base salary at market levels, increases to base salary for the
executive group generally are made only in cases of promotions or marketplace
equity adjustments. For those reasons, the Board approved no increases to Mr.
Richard's base salary in 1997.
33
<PAGE> 35
ANNUAL INCENTIVE COMPENSATION PLAN - On February 17, 1998, in accordance with
the Corporation's "pay for performance" compensation philosophy, the Committee
approved a cash award for Mr. Richard of $725,000 under the Annual Incentive
Compensation Plan in recognition of the Corporation's exceeding threshold CVA
goals and financial performance compared to peer companies, and of Mr. Richard's
achieving his individual performance goals for 1997.
LONG-TERM INCENTIVE PLAN - Mr. Richard's employment agreement provides for
contingent stock grants, including 5,000 shares on December 31, 1997, if he was
employed by the Corporation on that date. As Mr. Richard was employed by the
Corporation on December 31, 1997, he received a grant for the equivalent of
5,000 shares of common stock (2,340 shares were withheld to pay taxes on the
grant). On May 20, 1996, Mr. Richard received a grant of 29,785 shares of
restricted stock under his amended employment agreement. To provide an
additional incentive to Mr. Richard to continue his employment with the
Corporation, the amended employment agreement provides that only 20 percent of
such restricted stock vests each year, with the first 20 percent having vested
on January 2, 1997. On February 17, 1998, based on 1997 performance, the
Committee awarded Mr. Richard, under the Long-Term Incentive Plan, a grant of
non-qualified stock options to purchase 60,000 shares of common stock at a price
of $76.15625 per share, with one-third vesting on the first anniversary of
grant, one-third on the second anniversary of grant, and one-third on the third
anniversary of grant. The awards are included in the Options Table.
BY THE COMPENSATION COMMITTEE:
Gerald E. Mayo, Chairman James P. Heffernan
Robert H. Beeby Malcolm T. Hopkins
Wilson K. Cadman James R. Thomas, II
EMPLOYMENT AGREEMENTS
As discussed in the Executive Compensation Report of the Compensation Committee
elsewhere in this report, in order to secure his services, the Corporation has
entered into an employment agreement with Mr. Richard for the position of
Chairman, Chief Executive Officer and President of the Corporation. In addition
to salary, bonus, awards of options, contingent stock and restricted stock and
other matters, Mr. Richard's amended employment agreement 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 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 IRC, will be
limited to the extent necessary to avoid the imposition of an excise tax under
the IRC.
The Corporation has also entered into an employment agreement with Mr. Schwolsky
to secure his services as Senior Vice President and Chief Legal Officer of the
Corporation. In addition to stock-based grants that were made in 1995, the
employment agreement with Mr. Schwolsky provides a base salary of $285,000 per
year, subject to such increases as may be approved by the Board. Besides being
eligible to participate in all incentive compensation plans and employee benefit
programs provided to other senior executives of the Group, upon retirement Mr.
Schwolsky may receive supplemental pension payments to make up the difference,
if any, between the Group's pension benefits and those Mr. Schwolsky would have
received from his previous employer. The employment agreement further provides
for severance benefits to be paid to Mr. Schwolsky in the event his employment
is terminated without cause. The severance benefits would include payment of Mr.
Schwolsky's annual base salary, incentive compensation and fringe benefits for a
period of 24 months. If Mr. Schwolsky'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. Schwolsky, which would constitute "parachute payments" under the
IRC, will be limited to the extent necessary to avoid the imposition of an
excise tax under the IRC.
The Corporation has entered into an employment agreement with Ms. Abbott to
secure her services as Chief Executive Officer of its transmission subsidiaries.
In addition to a grant of stock made in 1996, the employment agreement with Ms.
Abbott provides for a base salary of $325,000 per year, subject to such
increases as may be approved by the Board.
34
<PAGE> 36
The agreement also provides that Ms. Abbott is eligible to participate in all
employee benefit programs provided to other transmission company executives and
in all incentive compensation programs of the transmission companies appropriate
for her status. The employment agreement further provides for severance benefits
to be paid to Ms. Abbott in the event her employment is terminated without
cause. The severance benefits would include payment of Ms. Abbott's annual base
salary, incentive compensation and fringe benefits for a period of 24 months. If
Ms. Abbott'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 Ms. Abbott,
which would constitute "parachute payments" under the IRC, will be limited to
the extent necessary to avoid the imposition of an excise tax under the IRC.
On March 31, 1997, the Corporation entered into an employment agreement with Mr.
Kaskel to secure his services as Senior Vice President of the Columbia Energy
Group Corporation. The agreement provides for a base salary of $280,000 per year
and a signing bonus of $75,000 payable at the end of the first year of
employment. The agreement also provides that Mr. Kaskel is eligible to
participate in benefits programs and all incentive compensation programs
provided to other company executives. In addition, Mr. Kaskel will participate
in a performance share award compensation feature under the Long-Term Incentive
Plan. This offers the opportunity for Mr. Kaskel to earn an award of up to
20,000 shares of the Corporation's common stock, depending on the level of
achievement at the end of the five-year performance period. The predetermined
performance measures to be used will be Total Operating Income and Total Return
on Invested Capital for all subsidiaries for which he has profit and loss
responsibility. No award is to be paid for performance falling below the
threshold level during the five-year performance period. An early payout of the
entire 20,000 shares could occur if, as measured at the end of any fiscal year
prior to the end of the five-year period, the stretch performance levels are
achieved for both measures. Should Mr. Kaskel's employment be terminated for any
reason prior to the end of the five-year performance period, an assessment will
be made of his actual achievements to date in relationship to the financial
measures governing the performance share feature, and he may receive pro-rate
award.
35
<PAGE> 37
OPTION/SAR GRANTS IN LAST FISCAL YEAR**
<TABLE>
<CAPTION>
Individual Grants Potential Realizable Value at
Assumed Annual Rates of Stock Price
Appreciation for Option Term
--------- --------- --------- --------- --------- ---------
(a) (b) (c) (d) (e) (f) (g)
--------- --------- --------- --------- --------- ---------
Name Number of % of Total Exercise or Expiration 5% ($) 10% ($)
Securities Options/SARs Base Price Date
Underlying Granted to ($/Sh)
Options/SARs Employees in
Granted # Fiscal Year
--------- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C>
O. G. Richard III
Chairman, CEO & President 60,000 7.4% 76.15625 2/17/08 2,956,429* 7,800,113*
--------- --------- --------- --------- --------- ---------
M. W. O'Donnell
Senior Vice President &
Chief Financial Officer 15,000 1.8 76.15625 2/17/08 739,107* 1,950,028*
--------- --------- --------- --------- --------- ---------
P. M. Schwolsky
Senior Vice President &
Chief Legal Officer 15,000 1.8 76.15625 2/17/08 739,107* 1,950,028*
--------- --------- --------- --------- --------- ---------
C. G. Abbott
CEO of Corporation's Gas
Transmission Segment 15,000 1.8 76.15625 2/17/08 739,107* 1,950,028*
--------- --------- --------- --------- --------- ---------
R. R. Kaskel
Senior Vice President
Columbia Energy Group
Service Corporation 7,000 0.9 76.15625 2/17/08 344,916* 910,013*
--------- --------- --------- --------- --------- ---------
</TABLE>
* Because dividend equivalents are associated with this award, the
potential realizable value shall increase as dividends are paid on
stock subject to options. In no event may dividend equivalents exceed
the grant price less the par value of the underlying stock.
** Granted as of February 17, 1998, for 1997 performance, the options vest
one-third upon the first anniversary of grant, one-third on the second
anniversary of grant, and the final third on the third anniversary of
grant.
36
<PAGE> 38
AGGREGATED OPTION/SAR EXERCISES IN LAST FISCAL YEAR
AND YEAR-END OPTION/SAR VALUES
<TABLE>
<CAPTION>
(a) (b) (c) (d) (e)
----------------- ----------------- ----------------- -----------------
Number of Securities Value of Unexercised
Underlying Unexercised In-the-Money Options/SARs
Options/SARs at at Year-End ($)
Year-End
----------------- ----------------- ----------------- -----------------
Number of Value Realized Exercisable/ Exercisable/
Name Shares ($) * Unexercisable Unexercisable *
Acquired
on Exercise
----------------- ----------------- ----------------- -----------------
<S> <C> <C> <C> <C>
O. G. Richard III -0- $ 0 120,000/40,000 3,285,000/595,000
----------------- ----------------- ----------------- -----------------
M. W. O'Donnell -0- $ 0 19,774/16,666 584,250/247,907
----------------- ----------------- ----------------- -----------------
P. M. Schwolsky -0- $ 0 13,334/16,666 361,531/247,907
----------------- ----------------- ----------------- -----------------
C. G. Abbott -0- $ 0 8,334/16,666 123,968/247,907
----------------- ----------------- ----------------- -----------------
R. R. Kaskel -0- -0- 0/0 -0-
----------------- ----------------- ----------------- -----------------
All Other Officers (Part I) -0- -0- 28,145/33,335 481,020/234,015
----------------- ----------------- ----------------- -----------------
</TABLE>
* Market value of underlying securities at exercise or FY-end, minus the
exercise or base price.
LONG-TERM INCENTIVE PLANS - AWARDS IN LAST FISCAL YEAR
<TABLE>
<CAPTION>
(a) (b) (c)
NAME NUMBER OF SHARES, UNITS PERFORMANCE OR OTHER PERIOD UNTIL
OR OTHER RIGHTS # MATURATION OR PAYOUT
<S> <C> <C>
R. R. Kaskel 20,000 (1) 1997-2001
</TABLE>
(1) Granted to Mr. Kaskel under the Long-Term Incentive Plan pursuant to his
employment agreement. Mr. Kaskel may earn up to 20,000 shares of the
Corporation's common stock, depending on achievement of Total Operating Income
and Total Return on Invested Capital for all subsidiaries for which he has
profit and loss responsibility. No award is paid for performance below the
threshold level. Payment may be accelerated if stretch performance levels are
achieved.
37
<PAGE> 39
The compensation for services in all capacities payable to or earned by the
executive officers of the Corporation and its subsidiaries during the year 1997
was as follows:
<TABLE>
<CAPTION>
Long-Term Compensation
ANNUAL COMPENSATION ---------------------------- Payouts
-------------------------------------- Awards ---------
-----------
(a) (b) (c) (d) (f) (g) (h) (i)
Name and Securities
Principal Restricted Underlying LTIP All Other
Position Year Salary Bonus Stock Awards Options - Payouts Comp. (1)
SARs
($) ($) ($) (#) ($) ($)
--------- --------- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
O.G. RICHARD, 1997 787,500 725,000 -0- 60,000(5) -0- 26,770(13)
III
Chairman, CEO 1996 778,125 710,000 1,459,465(9) 160,000(6)(7) -0- 746,596(8)(13)
& President 1995 528,125(2) 262,500 737,500(10) -0- -0- 75,673(14)
--------- --------- --------- --------- --------- --------- ---------
M. W. O'DONNELL
Senior Vice
President & 1997 325,000 230,000 -0- 15,000(5) -0- 19,500
Chief
Financial 1996 322,575 210,000 -0- 25,000(6) -0- 84,233(13)
Officer 1995 310,150 247,000 -0- 5,000(3) -0- 13,879
--------- --------- --------- --------- --------- --------- ---------
P. M. SCHWOLSKY
Senior Vice 1997 325,000 241,000 -0- 15,000(5) -0- 13,206
President & 1996 321,250 234,000 -0- 25,000(6) -0- 130,804(13)
Chief Legal
Officer 1995 164,091(2) 115,000 91,400(12) 5,000(4) -0- 13,503
--------- --------- --------- --------- --------- --------- ---------
C. G. ABBOTT 1997 325,000 275,000 -0- 15,000(5) -0- 11,026
CEO of
Corporation's 1996 310,870(2) 234,000 73,219(11) 25,000(6) -0- 88,689(13)
Gas
Transmission 1995 N/A
Segment
--------- --------- --------- --------- --------- --------- ---------
R. R. KASKEL 1997 210,000(2) 155,000 -0- 7,000(5) -0- 84,233(15)
Senior Vice
President,
Columbia
Energy Group 1996 N/A
Service
Corporation 1995 N/A
--------- --------- --------- --------- --------- --------- ---------
</TABLE>
38
<PAGE> 40
(1) Reflects employer contributions, if any, to the Employees' Thrift Plan
of Columbia Energy Group, which is qualified under the Internal Revenue
Code, and the Thrift Restoration Plan, a nonqualified plan. Mr. Kaskel
was not eligible to participate in either plan as of December 31, 1997.
The contributions to all officers, namely those listed in Part I,
totaled $568,500. The compensation to all officers as a group, namely
those listed in Part I, totaled $22,653,000.
(2) Partial year salary.
(3) Options to purchase shares granted to top 31 executives on May 17,
1995, at a price of $28.99 per share, which vested 100% six months from
the date of grant, on November 17, 1995.
(4) Options to purchase shares granted to Mr. Schwolsky upon his employment
on June 5, 1995, at a price of $31.05 per share, which vested 100% six
months from the date of grant, on December 5, 1995.
(5) Options to purchase shares granted to executive group on February 17,
1998 for 1997 performance at a price of $76.15625 per share, which
options vest one-third upon the first anniversary of grant; one-third
upon the second anniversary; and one-third upon the third anniversary.
(6) Options to purchase shares granted to executive group on February 18,
1997 for 1996 performance at a price of $63.6875 per share, which
options vest one-third upon grant, exercisable in six months; one-third
upon the first anniversary of grant; and one-third upon the second
anniversary.
(7) Pursuant to Mr. Richard's employment agreement dated March 15, 1995,
and amended January 17, 1996, on May 20, 1996, Mr. Richard was granted
a nonqualified stock option for 100,000 shares of common stock, 50,000
of which were vested on November 28, 1996, and the remaining 50,000
which were vested on November 28, 1997.
(8) Pursuant to Mr. Richard's amended employment agreement, on May 21,
1996, Mr. Richard received a $481,250 cash payment, less taxes,
representing the excess of the grant price of the options for 100,000
shares of common stock issued the previous date over the fair market
value of the shares on the date the options would have been issued had
the Corporation been able to issue the options following its discharge
from bankruptcy. The common stock increased in value during this period
from $43.875 to $48.6875 per share.
(9) Pursuant to Mr. Richard's amended employment agreement, on May 20,
1996, Mr. Richard was granted a restricted stock award for 29,785
shares of common stock at a value of $1,459,465, as based on the
closing price of $49.00 per share on May 20, 1996. The shares vest
annually in equal installments commencing January 2, 1997. Mr. Richard
receives dividends on the restricted stock as dividends are declared on
shares of common stock. At December 31, 1997, Mr. Richard held 23,828
shares of restricted stock, at an aggregate value of $1,871,987.
(10) Pursuant to Mr. Richard's employment agreement, Mr. Richard was granted
a contingent stock award for 25,000 shares of common stock. The 25,000
shares vested as follows: 10,000 on May 1, 1995, and 5,000 per year on,
and contingent upon his continued employment through, December 31,
1995, December 31, 1996, and December 31, 1997, respectively.
(11) Pursuant to Ms. Abbott's employment agreement dated January 17, 1996,
on January 17, 1996, Ms. Abbott was granted a contingent stock award
for 1,500 shares of common stock, which vested on May 17, 1996.
(12) On June 5, 1995, Mr. Schwolsky was granted a contingent stock award for
2,500 shares of common stock which vested on September 5, 1995.
(13) Includes transfer expenses associated with the move of the corporate
office from Delaware to Northern Virginia totalling $235,738 for Mr.
Richard, $66,090 for Mr. O'Donnell, $126,304 for Mr. Schwolsky, and
$87,014 for Ms. Abbott.
(14) Reflects transfer expenses and compensation for benefits forfeited upon
termination of prior employment.
(15) Reflects transfer expenses.
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 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.
39
<PAGE> 41
ESTIMATED ANNUAL BENEFITS AS OF JANUARY 1, 1998, FROM RETIREMENT INCOME PLAN (1)
<TABLE>
<CAPTION>
Representative Years of Credited Service (2)
Final Average 15 20 25 30 35 40
Annual Compensation $ $ $ $ $ $
<S> <C> <C> <C> <C> <C> <C>
250,000 54,455 72,606 90,758 108,909 121,409 121,567
300,000 65,705 87,606 109,508 131,409 138,909 146,409
400,000 88,205 117,606 147,008 176,409 186,409 196,409
500,000 110,705 147,606 184,508 221,409 233,909 246,409
600,000 133,205 177,606 222,008 266,409 281,409 296,409
800,000 178,205 237,606 297,008 356,409 376,409 396,409
1,000,000 223,205 297,606 372,008 446,409 471,409 496,409
1,200,000 268,205 357,606 447,008 536,409 566,409 596,409
</TABLE>
(1) 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 funded through a
trust arrangement at the option of the individual. The liabilities of
Messrs. Richard, Schwolsky and O'Donnell have reached $100,000, but to
date they have not elected to fund their accrued pension. The
liabilities of Ms. Abbott and Mr. Kaskel had not yet reached $100,000,
so no contributions were made in 1997 on their behalf. Such
supplemental pensions are not available to these executives until
retirement or termination of employment.
(2) As of January 1, 1998, the credited years of service for retirement
benefits for the individuals named in the Summary Compensation Table
were as follows: Mr. Richard, 6 years; Mr. O'Donnell, 27 years; Mr.
Schwolsky, 6 years; Ms. Abbott, 1 year; and Mr. Kaskel, 0 years.
PERFORMANCE TABLE
The following tables 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(A)
<TABLE>
<CAPTION>
1992 1993 1994 1995 1996 1997
$ $ $ $ $ $
------ ------ ------ ------ ------ ------
<S> <C> <C> <C> <C> <C> <C>
Columbia Energy
(formerly Columbia Gas) 100 116.99 122.88 229.41 336.52 421.23
------ ------ ------ ------ ------ ------
S&P 500 Index 100 110.08 111.53 153.45 188.68 251.63
------ ------ ------ ------ ------ ------
S&P Natural Gas
Utility Index 100 118.73 113.26 160.20 212.89 251.18
------ ------ ------ ------ ------ ------
</TABLE>
(A) Assumes $100 invested on December 31, 1992 and reinvestment of
dividends.
40
<PAGE> 42
STANDARD DIRECTORS' COMPENSATION
1997 Directors' Compensation for Board and Committee Meetings:
<TABLE>
<CAPTION>
Retainer Meeting Fee Chairman's Fee
$ $ $
------ ------ ------
<S> <C> <C> <C>
Board 27,250 1,250 --
------ ------ ------
Audit -- 1,000 3,000
------ ------ ------
Compensation -- 1,000 3,000
------ ------ ------
Executive 6,000 800 --
------ ------ ------
Finance -- 1,000 3,000
------ ------ ------
Corporate Governance -- 1,000 3,000
------ ------ ------
</TABLE>
The nonemployee Directors are also eligible to receive nonqualified stock
options pursuant to the Corporation's Long-Term Incentive Plan. If the
Corporation's Total Shareholder Return performance, compared with its peers, is
at the third quartile, then nonemployee Directors receive options for 3,000
shares of common stock; at the fourth quartile, options for 6,000 shares. For
1997 performance, the Directors will receive options for 3,000 shares, granted
and priced as of March 31, 1998. See the section entitled "1997 Executive
Compensation Plan" for a discussion of the terms of the option grants.
No officer received any compensation for services as a Director while also
serving as an officer of the Corporation.
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. In addition, nonemployee
Directors may elect to defer compensation for distribution at a later date.
Deferred amounts will accrue interest at the prime rate and may be paid in a
lump sum or in annual installments over ten years, or may be deferred into the
Phantom Stock Plan for Outside Directors. Deferred amounts will be automatically
paid in a lump sum following certain specified changes in control of the
Corporation.
Following its approval by the stockholders at the 1996 Annual Meeting, the
Phantom Stock Plan for Outside Directors was established. All of the Directors
except two (one of whom has since retired) elected to participate in the plan in
lieu of participating in the Retirement Plan for Outside Directors.
Participating Directors received phantom shares of equivalent actuarial value
under the Phantom Stock Plan for Outside Directors. The Retirement Plan for
Outside Directors is not available for nonemployee Directors assuming office
after April 1996; rather, they will participate in the Phantom Stock Plan for
Outside Directors, under which they receive 3,000 phantom shares upon being
elected to the Board. Payment of cash benefits will commence upon termination of
Board service or upon specified changes in control of the Corporation.
For the Director(s) remaining in the Retirement Plan, each nonemployee Director
with a minimum of five years' service on the Board who retires after attaining
age 65 or becoming disabled could receive annual retirement payments equal to
the amount of the annual retainer for Board service at the time of retirement.
Payments under the Retirement Plan will cease at the death of the Director
unless the Director elected an actuarial equivalent option or, if death occurs
before retirement but after eligibility is established, at the death of the
surviving spouse. In the event of certain specified changes in control of the
Corporation, a Director (regardless of years of service on the Board) could
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 director's compensation amounted to $695,000.
41
<PAGE> 43
Part III(b). SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS, DIRECTORS AND
MANAGEMENT
The following table sets forth the beneficial ownership of common
stock by stockholders, if any, who own greater than 5 percent of the outstanding
shares as of January 31, 1998, by Directors, by each of the executive officers
whose compensation is disclosed in the Summary Compensation Table, and by all
Directors and such executive officers 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 of Name and Address Amount and Nature of Percent
Class Beneficial Ownership ** of
Class
=========================================================
Shared Sole Shared Sole
Voting Voting Investment Investment Total
Power Power Power Power Owned
- ---------- --------------------------------- ------ ------ ---------- ---------- ----- --------
<S> <C> <C> <C> <C> <C> <C> <C>
5% HOLDERS
N/A N/A -0-
========== ================================= ============================================= ========
DIRECTORS
Common R. F. Albosta 3,000 *
- ---------- --------------------------------- --------------------------------------------- --------
Common R. H. Beeby 3,000(1) *
- ---------- --------------------------------- --------------------------------------------- --------
Common W. K. Cadman 3,000 *
- ---------- --------------------------------- --------------------------------------------- --------
Common J. P. Heffernan 5,000 *
- ---------- --------------------------------- --------------------------------------------- --------
Common K. L. Hendricks -0- *
- ---------- --------------------------------- --------------------------------------------- --------
Common D. P. Hodel 3,000 *
- ---------- --------------------------------- --------------------------------------------- --------
Common M. T. Hopkins 7,525.4054 *
- ---------- --------------------------------- --------------------------------------------- --------
Common J. B. Johnston -0- *
- ---------- --------------------------------- --------------------------------------------- --------
Common M. Jozoff 3,000 *
- ---------- --------------------------------- --------------------------------------------- --------
Common W. E. Lavery 3,100 *
- ---------- --------------------------------- --------------------------------------------- --------
Common G. E. Mayo 4,000 *
- ---------- --------------------------------- --------------------------------------------- --------
Common D. E. Olesen 3,006.8159 *
- ---------- --------------------------------- --------------------------------------------- --------
Common O. G. Richard, III 164,650(2) *
- ---------- --------------------------------- --------------------------------------------- --------
Common J. R. Thomas, II 3,500 *
- ---------- --------------------------------- --------------------------------------------- --------
Common W. R. Wilson 8,000 *
========== ================================= ============================================= ========
OFFICERS
Common C. G. Abbott 10,394.552(3) *
- ---------- --------------------------------- --------------------------------------------- --------
Common R. R. Kaskel -0- *
- ---------- --------------------------------- --------------------------------------------- --------
Common M. W. O'Donnell 23,902,356(4) *
- ---------- --------------------------------- --------------------------------------------- --------
Common P. M. Schwolsky 15,938,926(5) *
- ---------- --------------------------------- --------------------------------------------- --------
All Executive Officers &
Common Directors (19 persons) as a Group 264,018.05(6) *
========== ================================= ============================================= ========
</TABLE>
* Aggregate stock ownership (including exercisable options) as a
percentage of class is less than 1 percent.
** Includes an allocation of shares held by the Trustee of the Employees'
Thrift Plan of Columbia Energy Group for the executive officers. Also
includes currently exercisable options. All holdings of the Directors,
except Messrs. Johnston and Richard and Ms. Hendricks, include
beneficial ownership of 2,000 shares which may be acquired pursuant to
stock options awarded under Long-Term Incentive Plan (LTIP).
42
<PAGE> 44
(1) Includes beneficial ownership of 1,000 shares with shared investment
power.
(2) Includes beneficial ownership of 120,000 shares which may be acquired
pursuant to stock options awarded under LTIP.
(3) Includes beneficial ownership of 200 shares with shared voting and
investment power. Includes beneficial ownership of 8,334 shares which
may be acquired pursuant to stock options awarded under LTIP.
(4) Includes beneficial ownership of 19,774 shares which may be acquired
pursuant to stock options awarded under LTIP.
(5) Includes beneficial ownership of 13,334 shares which may be acquired
pursuant to stock options awarded under LTIP.
(6) Includes beneficial ownership of 185,442 shares which may be acquired
pursuant to stock options awarded under LTIP.
43
<PAGE> 45
Part III(c). Contracts and transactions.
None.
Part III(d). Indebtedness.
None.
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 $1,133,870.
44
<PAGE> 46
ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS
Part I. Expenditures for any political party, candidate for public office or
holder of such office, or any committee or agent therefor.
None.
Part II. Expenditures for any citizens group or public relations counsel.
Calendar Year 1997
<TABLE>
<CAPTION>
Name of Company and Name
or Number of Recipients
or Beneficiaries Purpose Accounts Charged Amount
($)
- --------------------------------- ------- ---------------- ------
<S> <C> <C> <C>
CKY
2 Recipients B Admin & General 2,870
COH
43 Various Chambers of Commerce B Admin & General 15,920
Ohio Chamber of Commerce B Admin & General 21,280
Better Business Bureaus B Admin & General 1,760
CPA
7 Recipients B Admin & General 9,760
COS
18 Recipients B Admin & General 19,634
TCO
6 Recipients A Admin & General 12,316
CNR
Keep Ohio Working A Admin & General 5,000
CPC
23 Recipients B Admin & General 4,206
</TABLE>
A - Information and Education
B - Economic Development
45
<PAGE> 47
ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS
Part I. Intercompany Contracts.
Calendar Year 1997
CONFIDENTIAL TREATMENT REQUESTED
46
<PAGE> 48
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.
CONFIDENTIAL TREATMENT REQUESTED
47
<PAGE> 49
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. On November
28, 1995 the Registrant and TCO emerged from bankruptcy after
filing separate petitions for protection under Chapter 11 of
the Federal Bankruptcy Code on July 31, 1991.
The table below details the relevant firms contracted:
Calendar Year 1997
<TABLE>
<CAPTION>
Date of
Name Scope of Services Compensation Court Approval
<S> <C> <C> <C>
Lehman Brothers Inc. Financial Advisor and $148,509 1/29/92
Investment Banker to the
Official Committee of
Unsecured Creditors to TCO.
Salomon Brothers Inc. Financial Advisor and $138,323 10/22/91
Investment Banker to TCO.
</TABLE>
48
<PAGE> 50
(b) The Registrant's distribution companies contracted with the
following organizations to provide various professional
services.
<TABLE>
<CAPTION>
Name Scope of Services Compensation
<S> <C> <C>
Ciuni & Panichi Governmental Affairs $4,400
to COH
Farmer & Humble Tax Consultant to $3,600
CKY
Hart & Assoc. Communications $22,000
Consultant to COH
Kingwood Consulting Communications $165,000
Consultant to COH
Thomas Green & Governmental Affairs $116,649
Assoc. to COH
</TABLE>
ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES
None.
49
<PAGE> 51
ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS
Financial Statements included in Form U5S:
CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 1997
Columbia Energy Group and Subsidiaries .................... F-1
Columbia Electric Corp. and Subsidiaries .................. F-1A
Tristar Capital Corporation and Subsidiary ................ F-1B
Columbia LNG Corporation and Subsidiary ................... F-1C
Columbia Energy Services Corporation and Subsidiaries ..... F-1D
Columbia Network Services Corporation and Subsidiary....... F-1E
Columbia Natural Resources, Inc. and Subsidiary............ F-1F
Alamco, Inc. and Subsidiaries.............................. F-1G
SUMMARY OF CONSOLIDATING BALANCE SHEET ENTRIES AS OF
DECEMBER 31, 1997
Columbia Energy Group and Subsidiaries..................... F-2
Columbia Electric Corp. and Subsidiaries .................. F-2A
Tristar Capital Corporation and Subsidiary ................ F-2B
Columbia LNG Corporation and Subsidiary.................... F-2C
Columbia Energy Services Corporation and Subsidiaries ..... F-2D
Columbia Network Services Corporation and Subsidiary....... F-2E
Columbia Natural Resources, Inc. and Subsidiary............ F-2F
Alamco, Inc. and Subsidiaries.............................. F-2G
CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED
DECEMBER 31, 1997
Columbia Energy Group and Subsidiaries..................... F-3
Columbia Electric Corp. and Subsidiaries................... F-3A
Tristar Capital Corporation and Subsidiary................. F-3B
Columbia LNG Corporation and Subsidiary ................... F-3C
Columbia Energy Services Corporation and Subsidiaries ..... F-3D
Columbia Network Services Corporation and Subsidiary....... F-3E
Columbia Natural Resources, Inc. and Subsidiary............ F-3F
Alamco, Inc. and Subsidiaries.............................. F-3G
SUMMARY OF CONSOLIDATING STATEMENT OF INCOME ENTRIES FOR
THE YEAR ENDED DECEMBER 31, 1997
Columbia Energy Group and Subsidiaries..................... F-4
Columbia Electric Corp. and Subsidiaries................... F-4A
Tristar Capital Corporation and Subsidiary ................ F-4B
Columbia LNG Corporation and Subsidiary.................... F-4C
Columbia Energy Services Corporation and Subsidiaries...... F-4D
50
<PAGE> 52
Columbia Network Services Corporation and Subsidiary....... F-4E
Columbia Natural Resources, Inc. and Subsidiary............ F-4F
Alamco, Inc. and Subsidiaries.............................. F-4G
CONSOLIDATING STATEMENT OF COMMON STOCK EQUITY FOR THE
YEAR ENDED DECEMBER 31, 1997
Columbia Energy Group and Subsidiaries .................... F-5
Columbia Electric Corp. and Subsidiaries................... F-5A
Tristar Capital Corporation and Subsidiary................. F-5B
Columbia LNG Corporation and Subsidiary ................... F-5C
Columbia Energy Services Corporation and Subsidiaries ..... F-5D
Columbia Network Services Corporation and Subsidiary....... F-5E
Columbia Natural Resources, Inc. and Subsidiary............ F-5F
Alamco, Inc. and Subsidiaries.............................. F-5G
CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1997
Columbia Energy Group and Subsidiaries..................... F-6
Columbia Electric Corp. and Subsidiaries................... F-6A
Tristar Capital Corporation and Subsidiary................. F-6B
Columbia LNG Corporation and Subsidiary.................... F-6C
Columbia Energy Services Corporation and Subsidiaries ..... F-6D
Columbia Network Services Corporation and Subsidiary....... F-6E
Columbia Natural Resources, Inc. and Subsidiary............ F-6F
Alamco, Inc. and Subsidiaries.............................. F-6G
51
<PAGE> 53
F-1 (1 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 F-1 F-1 F-1 Consolidating
Page 2 Page 3 Page 4 Page 5 Combined Entries Consolidated
---------- ---------- -------- ------ ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at
original cost ............................ 7,368,923
Accumulated depreciation and depletion ..... (3,481,545)
----------
Net Gas Utility and Other Plant ............ 3,887,378
----------
Gas and oil producing properties, full
cost method ................................ 660,264
Accumulated depletion ...................... (195,995)
----------
Net Gas and Oil Producing Properties ....... 464,269
----------
Net Property, Plant, and Equipment ........... 4,351,647
----------
Investments and Other Assets
Accounts receivable - noncurrent ........... 1,624
Unconsolidated affiliates .................. 74,092
Assets held for sale ....................... 1,540
Other ...................................... 7,955
----------
Total Investments and Other Assets ........... 85,211
----------
Investments in Subsidiaries
Capital stock .............................. --
Equity in undistributed earnings of
subsidiaries .............................. --
Notes receivable ........................... --
Other investments .......................... --
----------
Total Investments in Subsidiaries ............ --
----------
Current Assets
Cash and temporary cash investments ........ 28,738
Accounts receivable, net
Customers ................................ 815,784
Intercompany ............................. --
Other .................................... 52,725
Income tax refunds ......................... --
Gas inventory .............................. 226,800
Other inventories, at average cost ......... 35,605
Prepayments ................................ 107,710
Regulatory assets .......................... 64,540
Underrecovered gas costs ................... 41,438
Prepaid property tax ....................... 80,831
Exchange gas receivable .................... 189,036
Other ...................................... 64,463
----------
Total Current Assets ......................... 1,707,670
----------
Deferred Charges ............................. 66,938
Long-term regulatory assets .................. 400,873
----------
TOTAL ASSETS ................................. 6,612,339
==========
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 54
F-1 (2 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 2
CNR(a) TCO CGT CLG(a) CKY Total
-------- ---------- ---------- ------ -------- ----------
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Property, Plant and Equipment
Gas utility and other plant, at original cost .... 3,385,834 1,245,331 192,162
Accumulated depreciation and depletion ........... (1,383,679) (1,041,601) (76,967)
---------- ---------- --------
Net Gas Utility and Other Plant .................. 2,002,155 203,730 115,195
---------- ---------- --------
Gas and oil producing properties, full cost method -- -- --
Accumulated depletion ............................ -- -- --
---------- ---------- --------
Net Gas and Oil Producing Properties ............. -- -- --
---------- ---------- --------
Net Property, Plant, and Equipment ................. 2,002,155 203,730 115,195
---------- ---------- --------
Investments and Other Assets
Accounts receivable - noncurrent ................. 22,731 -- --
Unconsolidated affiliates ........................ 6,476 24,705 --
Assets held for sale ............................. -- -- --
Other ............................................ -- -- --
---------- ---------- --------
Total Investments and Other Assets ................. 29,207 24,705 --
---------- ---------- --------
Investments in Subsidiaries
Capital stock .................................... -- -- --
Equity in undistributed earnings of
subsidiaries .................................... -- -- --
Notes receivable ................................. -- -- --
Other investments ................................ -- -- --
---------- ---------- --------
Total Investments in Subsidiaries .................. -- -- --
---------- ---------- --------
Current Assets
Cash and temporary cash investments .............. 1,384 142 528
Accounts receivable, net
Customers ...................................... 44,584 8,093 16,180
Intercompany ................................... 70,810 6,639 98
Other .......................................... 20,590 3,627 506
Income tax refunds ............................... -- -- --
Gas inventory .................................... -- -- 19,556
Other inventories, at average cost ............... 15,732 5,422 86
Prepayments ...................................... 3,597 1,734 241
Regulatory assets ................................ 24,891 3,486 530
Underrecovered gas costs ......................... -- -- --
Prepaid property tax ............................. -- -- --
Exchange gas receivable .......................... -- -- --
Other ............................................ 94,094 24,706 19,038
---------- ---------- --------
Total Current Assets ............................... 275,682 53,849 56,763
---------- ---------- --------
Deferred Charges ................................... 6,548 606 950
Long-term regulatory assets ........................ 180,544 10,521 7,905
---------- ---------- --------
TOTAL ASSETS ....................................... 2,494,136 293,411 180,813
========== ========== ========
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 55
F-1 (3 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 3
COH CMD CPA COS CC Total
---------- ------- -------- -------- -------- ----------
ASSETS
<S> <C> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost .... 1,322,625 71,520 559,543 349,974
Accumulated depreciation and depletion ........... (566,699) (28,067) (178,022) (75,782)
---------- ------- -------- --------
Net Gas Utility and Other Plant .................. 755,926 43,453 381,521 274,192
---------- ------- -------- --------
Gas and oil producing properties, full cost method -- -- -- --
Accumulated depletion ............................ -- -- -- --
---------- ------- -------- --------
Net Gas and Oil Producing Properties ............. -- -- -- --
---------- ------- -------- --------
Net Property, Plant, and Equipment ................. 755,926 43,453 381,521 274,192
---------- ------- -------- --------
Investments and Other Assets
Accounts receivable - noncurrent ................. -- -- -- --
Unconsolidated affiliates ........................ -- -- -- --
Assets held for sale ............................. -- -- -- --
Other ............................................ -- -- -- --
---------- ------- -------- --------
Total Investments and Other Assets ................. -- -- -- --
---------- ------- -------- --------
Investments in Subsidiaries
Capital stock .................................... -- -- -- --
Equity in undistributed earnings of
subsidiaries .................................... -- -- -- --
Notes receivable ................................. -- -- -- --
Other investments ................................ -- -- -- --
---------- ------- -------- --------
Total Investments in Subsidiaries .................. -- -- -- --
---------- ------- -------- --------
Current Assets
Cash and temporary cash investments .............. 3,685 1 778 2,190
Accounts receivable, net
Customers ...................................... 189,820 5,121 73,668 35,763
Intercompany ................................... 22,277 731 3,519 30,869
Other .......................................... 4,968 66 873 313
Income tax refunds ............................... -- -- -- --
Gas inventory .................................... 141,684 2,918 49,933 12,709
Other inventories, at average cost ............... 6,181 274 2,200 520
Prepayments ...................................... 49,531 1,506 1,227 1,263
Regulatory assets ................................ 28,901 583 4,201 1,948
Underrecovered gas costs ......................... -- -- -- --
Prepaid property tax ............................. -- -- -- --
Exchange gas receivable .......................... -- -- -- --
Other ............................................ 176,916 3,132 47,316 5,786
---------- ------- -------- --------
Total Current Assets ............................... 623,963 14,332 183,715 91,361
---------- ------- -------- --------
Deferred Charges ................................... 12,652 29 1,119 1,720
Long-term regulatory assets ........................ 116,865 3,327 71,748 9,963
---------- ------- -------- --------
TOTAL ASSETS ....................................... 1,509,406 61,141 638,103 377,236
========== ======= ======== ========
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 56
F-1 (4 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 4
CS CIC CES(a) CPC TVC(a) Total
------- ------ -------- ------- ------ --------
ASSETS
<S> <C> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ....
Accumulated depreciation and depletion ...........
Net Gas Utility and Other Plant ..................
Gas and oil producing properties, full cost method
Accumulated depletion ............................
Net Gas and Oil Producing Properties .............
Net Property, Plant, and Equipment .................
Investments and Other Assets
Accounts receivable - noncurrent .................
Unconsolidated affiliates ........................
Assets held for sale .............................
Other ............................................
Total Investments and Other Assets .................
Investments in Subsidiaries
Capital stock ....................................
Equity in undistributed earnings of
subsidiaries ....................................
Notes receivable .................................
Other investments ................................
Total Investments in Subsidiaries ..................
Current Assets
Cash and temporary cash investments ..............
Accounts receivable, net
Customers ......................................
Intercompany ...................................
Other ..........................................
Income tax refunds ...............................
Gas inventory ....................................
Other inventories, at average cost ...............
Prepayments ......................................
Regulatory assets ................................
Underrecovered gas costs .........................
Prepaid property tax .............................
Exchange gas receivable ..........................
Other ............................................
Total Current Assets ...............................
Deferred Charges ...................................
Long-term regulatory assets ........................
TOTAL ASSETS .......................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 57
F-1 (5 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
ASSETS
<S> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ....
Accumulated depreciation and depletion ...........
Net Gas Utility and Other Plant ..................
Gas and oil producing properties, full cost method
Accumulated depletion ............................
Net Gas and Oil Producing Properties .............
Net Property, Plant, and Equipment .................
Investments and Other Assets
Accounts receivable - noncurrent .................
Unconsolidated affiliates ........................
Assets held for sale .............................
Other ............................................
Total Investments and Other Assets .................
Investments in Subsidiaries
Capital stock ....................................
Equity in undistributed earnings of
subsidiaries ....................................
Notes receivable .................................
Other investments ................................
Total Investments in Subsidiaries ..................
Current Assets
Cash and temporary cash investments ..............
Accounts receivable, net
Customers ......................................
Intercompany ...................................
Other ..........................................
Income tax refunds ...............................
Gas inventory ....................................
Other inventories, at average cost ...............
Prepayments ......................................
Regulatory assets ................................
Underrecovered gas costs .........................
Prepaid property tax .............................
Exchange gas receivable ..........................
Other ............................................
Total Current Assets ...............................
Deferred Charges ...................................
Long-term regulatory assets ........................
TOTAL ASSETS .......................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 58
F-1 (6 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 F-1 F-1 F-1 Consolidating
CAPITALIZATION AND LIABILITIES Page 7 Page 8 Page 9 Page 10 Combined Entries Consolidated
---------- ---------- -------- ------ ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares
outstanding)........................... 554,955
Subsidiaries - common stock .............. --
Additional paid in capital ............... 754,216
Retained earnings ........................ 482,715
Unearned employee compensation ........... (1,167)
----------
Total common stock equity .................. 1,790,719
----------
Preferred stock ............................ --
Long-term debt ............................. 2,003,474
Installment promissory notes payable ....... --
Other intercompany notes and loans ......... --
----------
Total Capitalization ......................... 3,794,193
----------
Current Liabilities
Short-term debt ............................ 328,121
Debt obligations ........................... 529
Accounts and drafts payable ................ 536,739
Intercompany notes and loans
- current maturities...................... --
Intercompany short-term loans .............. --
Intercompany accounts payable .............. --
Accrued taxes .............................. 140,876
Accrued interest ........................... 29,418
Estimated rate refunds ..................... 68,443
Estimated supplier obligations ............. 73,877
Overrecovered gas costs .................... 84,551
Transportation and exchange gas payable .... 89,163
Deferred income taxes ...................... --
Regulatory liabilities ..................... 9,755
Other ...................................... 356,756
----------
Total Current Liabilities .................... 1,718,228
----------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent .......... 618,362
Investment tax credits ..................... 35,609
Postretirement benefits other than pensions 148,807
Long-term regulatory liabilities ........... 41,350
Other ...................................... 255,790
----------
Total Other Liabilities and Deferred Credits . 1,099,918
----------
TOTAL CAPITALIZATION AND LIABILITIES ......... 6,612,339
==========
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 59
F-1 (7 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 7
CNR(a) TCO CGT CLG(a) CKY Total
------- ---------- ------- -------- ------- ----------
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding) -- -- --
Subsidiaries - common stock ................... 49 20 23,806
Additional paid in capital .................... 1,512,024 82,429 174
Retained earnings ............................. (537,611) 21,404 42,681
Unearned employee compensation ................ -- -- --
---------- ------- -------
Total common stock equity ....................... 974,462 103,853 66,661
---------- ------- -------
Preferred stock ................................. -- -- --
Long-term debt .................................. 555 -- 235
Installment promissory notes payable ............ 643,000 68,414 54,494
Other intercompany notes and loans .............. -- -- --
---------- ------- -------
Total Capitalization .............................. 1,618,017 172,267 121,390
---------- ------- -------
Current Liabilities
Short-term debt ................................. -- -- --
Debt obligations ................................ 33 -- 15
Accounts and drafts payable ..................... 20,989 2,495 9,374
Intercompany notes and loans - current maturities -- -- --
Intercompany short-term loans ................... -- -- 8,975
Intercompany accounts payable ................... 34,024 15,724 9,684
Accrued taxes ................................... 66,778 6,832 1,882
Accrued Interest ................................ 1,923 98 39
Estimated rate refunds .......................... 47,764 8,172 1,383
Estimated supplier obligations .................. 73,877 -- --
Overrecovered gas costs ......................... -- -- --
Transportation and exchange gas payable ......... -- -- --
Deferred income taxes ........................... -- -- 2,792
Regulatory liabilities .......................... 8,082 1,673 --
Other ........................................... 179,913 41,934 9,884
---------- ------- -------
Total Current Liabilities ......................... 433,383 76,928 44,028
---------- ------- -------
Other Liabilities and Deferred Credits
Income taxes, noncurrent ........................ 251,739 37,662 4,337
Investment tax credits .......................... 1,031 263 1,834
Postretirement benefits other than pensions ..... 40,833 3,633 4,066
Long-term regulatory liabilities ................ 17,041 153 3,856
Other ........................................... 132,092 2,505 1,302
---------- ------- -------
Total Other Liabilities and Deferred Credits ...... 442,736 44,216 15,395
---------- ------- -------
TOTAL CAPITALIZATION AND LIABILITIES .............. 2,494,136 293,411 180,813
========== ======= =======
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 60
F-1 (8 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 8
COH CMD CPA COS CG Total
--------- ------- ------- ------- -------- -----------
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding) -- -- -- --
Subsidiaries - common stock ................... 119,240 72 85,128 65,305
Additional paid in capital .................... -- 10,020 -- 2,969
Retained earnings ............................. 303,247 12,307 130,987 73,521
Unearned employee compensation ................ -- -- -- --
--------- ------- ------- -------
Total common stock equity ....................... 422,487 22,399 216,115 141,795
--------- ------- ------- -------
Preferred stock ................................. -- -- -- --
Long-term debt .................................. 1,012 40 396 700
Installment promissory notes payable ............ 319,959 17,819 148,451 116,677
Other intercompany notes and loans .............. -- -- -- --
--------- ------- ------- -------
Total Capitalization .............................. 743,458 40,258 364,962 259,172
--------- ------- ------- -------
Current Liabilities
Short-term debt ................................. -- -- -- --
Debt obligations ................................ 97 17 33 200
Accounts and drafts payable ..................... 104,318 2,354 19,627 14,604
Intercompany notes and loans - current maturities -- -- -- --
Intercompany short-term loans ................... 151,110 1,703 65,691 --
Intercompany accounts payable ................... 61,997 3,546 25,770 49,982
Accrued taxes ................................... 94,708 (394) 6,304 2,547
Accrued Interest ................................ 388 10 63 230
Estimated rate refunds .......................... 1,441 533 6,376 2,774
Estimated supplier obligations .................. -- -- -- --
Overrecovered gas costs ......................... -- -- -- --
Transportation and exchange gas payable ......... -- -- -- --
Deferred income taxes ........................... -- -- 6,297 820
Regulatory liabilities .......................... -- -- -- --
Other ........................................... 178,491 5,730 34,231 15,290
--------- ------- ------- -------
Total Current Liabilities ......................... 592,550 13,499 164,392 86,447
--------- ------- ------- -------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ............... 80,302 2,447 71,229 16,418
Investment tax credits .......................... 19,298 1,010 9,359 2,814
Postretirement benefits other than pensions ..... 48,281 1,478 16,083 4,190
Long-term regulatory liabilities ................ 10,391 1,813 6,637 1,459
Other ........................................... 15,126 636 5,441 6,736
--------- ------- ------- -------
Total Other Liabilities and Deferred Credits ...... 173,398 7,384 108,749 31,617
--------- ------- ------- -------
TOTAL CAPITALIZATION AND LIABILITIES .............. 1,509,406 61,141 638,103 377,236
========= ======= ======= =======
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 61
F-1 (9 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 9
CS CIC CES(a) CPC TVC (a) Total
------- ------ -------- ------ ------- --------
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding) --
Subsidiaries - common stock ................... 300
Additional paid in capital .................... 12,700
Retained earnings ............................. 187
Unearned employee compensation ................ --
-------
Total common stock equity ....................... 13,187
-------
Preferred stock ................................. --
Long-term debt .................................. --
Installment promissory notes payable ............ 16,043
Other intercompany notes and loans .............. --
-------
Total Capitalization .............................. 29,230
-------
Current Liabilities
Short-term debt ................................. --
Debt obligations ................................ --
Accounts and drafts payable ..................... 16,023
Intercompany notes and loans - current maturities --
Intercompany short-term loans ................... 20,030
Intercompany accounts payable ................... 4,406
Accrued taxes ................................... (1,858)
Accrued interest ................................ --
Estimated rate refunds .......................... --
Estimated supplier obligations .................. --
Overrecovered gas costs ......................... --
Transportation and exchange gas payable ......... --
Deferred income taxes ........................... --
Regulatory liabilities .......................... --
Other ........................................... 12,890
-------
Total Current Liabilities ......................... 51,491
-------
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ............... 1,826
Investment tax credits .......................... --
Postretirement benefits other than pensions ..... 7,195
Long-term regulatory liabilities ................ --
Other ........................................... 1,706
-------
Total Other Liabilities and Deferred Credits ...... 10,727
-------
TOTAL CAPITALIZATION AND LIABILITIES .............. 91,448
=======
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 62
F-1 (10 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet as of December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-1 Page 10
TCC (a) CAT CNS (a) Total
----------- ----------- ----------- -----------
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding)
Subsidiaries - common stock ...................
Additional paid in capital ....................
Retained earnings .............................
Unearned employee compensation ................
Total common stock equity .......................
Preferred stock .................................
Long-term debt ..................................
Installment promissory notes payable ............
Other intercompany notes and loans ..............
Total Capitalization ..............................
Current Liabilities
Short-term debt .................................
Debt obligations ................................
Accounts and drafts payable .....................
Intercompany notes and loans - current maturities
Intercompany short-term loans ...................
Intercompany accounts payable ...................
Accrued taxes ...................................
Accrued interest ................................
Estimated rate refunds ..........................
Estimated supplier obligations ..................
Overrecovered gas costs .........................
Transportation and exchange gas payable .........
Deferred income taxes ...........................
Regulatory liabilities ..........................
Other ...........................................
Total Current Liabilities .........................
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ...............
Investment tax credits ..........................
Postretirement benefits other than pensions .....
Long-term regulatory liabilities ................
Other ...........................................
Total Other Liabilities and Deferred Credits ......
TOTAL CAPITALIZATION AND LIABILITIES ..............
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 63
<TABLE>
<CAPTION>
F-1A (1 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
F-1A F-1A Consolidating 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.........................
Gas and oil producing properties, full cost method......
Accumulated depletion...................................
Net Gas and Oil Producing Properties....................
Net Property, Plant, and Equipment........................
Investments and Other Assets
Accounts receivable - noncurrent........................
Unconsolidated affiliates...............................
Assets held for sale....................................
Other...................................................
Total Investments and Other Assets........................
Investments in Subsidiaries
Capital stock...........................................
Equity in undistributed earnings of
subsidiaries...........................................
Notes receivable........................................
Other investments.......................................
Total Investments in Subsidiaries.........................
Current Assets
Cash and temporary cash investments.....................
Accounts receivable, net
Customers.............................................
Intercompany..........................................
Other.................................................
Income tax refunds......................................
Gas inventory...........................................
Other inventories, at average cost......................
Prepayments.............................................
Other...................................................
Total Current Assets......................................
Deferred Charges..........................................
TOTAL ASSETS..............................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 64
<TABLE>
<CAPTION>
F-1A (2 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
F-1A Page 2
BGC BLC GGC GLC PGC PLC TVC Total
------ ------ --- --- ------ ------ ------ ------
<S> <C> <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 ........................
Gas and oil producing properties, full cost method .....
Accumulated depletion ..................................
Net Gas and Oil Producing Properties ...................
Net Property, Plant, and Equipment .......................
Investments and Other Assets
Accounts receivable - noncurrent .......................
Unconsolidated affiliates ..............................
Assets held for sale ...................................
Other ..................................................
Total Investments and Other Assets .......................
Investments in Subsidiaries
Capital stock ..........................................
Equity in undistributed earnings of
subsidiaries ..........................................
Notes receivable .......................................
Other investments ......................................
Total Investments in Subsidiaries ........................
Current Assets
Cash and temporary cash investments ....................
Accounts receivable, net ...............................
Customers ............................................
Intercompany .........................................
Other ................................................
Income tax refund ......................................
Gas inventory ..........................................
Other inventories, at average cost .....................
Prepayments ............................................
Other ..................................................
Total Current Assets .....................................
Deferred Charges .........................................
TOTAL ASSETS .............................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 65
<TABLE>
<CAPTION>
F-1A (3 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
F-1A 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 ......................
Gas and oil producing properties, full cost method ...
Accumulated depletion ................................
Net Gas and Oil Producing Properties .................
Net Property, Plant, and Equipment .....................
Investments and Other Assets
Accounts receivable - noncurrent .....................
Unconsolidated affiliates ............................
Assets held for sale .................................
Other ................................................
Total Investments and Other Assets .....................
Investments in Subsidiaries
Capital stock ........................................
Equity in undistributed earnings of
subsidiaries ........................................
Notes receivable .....................................
Other investments ....................................
Total Investments in Subsidiaries ......................
Current Assets
Cash and temporary cash investments ..................
Accounts receivable, net
Customers ..........................................
Intercompany .......................................
Other ..............................................
Income tax refunds ...................................
Gas inventory ........................................
Other inventories, at average cost ...................
Prepayments ..........................................
Other ................................................
Total Current Assets ...................................
Deferred Charges .......................................
TOTAL ASSETS ...........................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 66
<TABLE>
<CAPTION>
F-1A (4 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
F-1A F-1A Consolidating TVC
CAPITALIZATION AND LIABILITIES Page 5 Page 6 Combined Entries Consolidated
------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 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
Debt obligations .........................................
Accounts and drafts payable ..............................
Intercompany notes and loans - current maturities ........
Intercompany short-term loans ............................
Intercompany accounts payable ............................
Accrued taxes ............................................
Accrued interest .........................................
Estimated rate refunds ...................................
Estimated supplier obligations ...........................
Transportation and exchange gas payable ..................
Deferred income taxes ....................................
Other ....................................................
Total Current Liabilities ..................................
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ........................
Investment tax credits ...................................
Postretirement benefits other than pensions ..............
Other ....................................................
Total Other Liabilities and Deferred Credits ...............
TOTAL CAPITALIZATION AND LIABILITIES .......................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 67
<TABLE>
<CAPTION>
F-1A (5 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
F-1A Page 5
CAPITALIZATION AND LIABILITIES BGC BLC GGC GLC PGC PLC TVC Total
------- ------- ------- ------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding) .
Subsidiaries - common stock ....................
Additional paid in capital .....................
Retained earnings ..............................
Unearned employee compensation .................
Total common stock equity ........................
Long-term debt ...................................
Installment promissory notes payable .............
Other intercompany notes and loans ...............
Total Capitalization ...............................
Current Liabilities
Debt obligations .................................
Accounts and drafts payable ......................
Intercompany notes and loans - current maturities
Intercompany short-term loans ....................
Intercompany accounts payable ....................
Accrued taxes ....................................
Accrued interest .................................
Estimated rate refunds ...........................
Estimated supplier obligations ...................
Transportation and exchange gas payable ..........
Deferred income taxes ............................
Other ............................................
Total Current Liabilities ..........................
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ................
Investment tax credits ...........................
Postretirement benefits other than pensions ......
Other ............................................
Total Other Liabilities and Deferred Credits .......
TOTAL CAPITALIZATION AND LIABILITIES ...............
CONFIDENTIAL TREATMENT REQUESTED
</TABLE>
<PAGE> 68
<TABLE>
<CAPTION>
F-1A (6 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
F-1A Page 6
CAPITALIZATION AND LIABILITIES VGC VLC RL FC TVC9 TVC10 Total
------ ------ ------ ------ ---- ------ ------
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding)
Subsidiaries - common stock ...................
Additional paid in capital ....................
Retained earnings .............................
Unearned employee compensation ................
Total common stock equity .......................
Long-term debt ..................................
Installment promissory notes payable ............
Other intercompany notes and loans ..............
Total Capitalization ..............................
Current Liabilities
Debt obligations ................................
Accounts and drafts payable .....................
Intercompany notes and loans - current maturities
Intercompany short-term loans ...................
Intercompany accounts payable ...................
Accrued taxes ...................................
Accrued interest ................................
Estimated rate refunds ..........................
Estimated supplier obligations ..................
Transportation and exchange gas payable .........
Deferred income taxes ...........................
Other ...........................................
Total Current Liabilities .........................
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ...............
Investment tax credits ..........................
Postretirement benefits other than pensions .....
Other ...........................................
Total Other Liabilities and Deferred Credits ......
TOTAL CAPITALIZATION AND LIABILITIES ..............
CONFIDENTIAL TREATMENT REQUESTED
</TABLE>
<PAGE> 69
F-1B (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating TCC
ASSETS TGT TCC Combined Entries Consolidated
--- --- -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Property, Plant and Equipment ......................
Gas utility and other plant, at original cost ....
Accumulated depreciation and depletion ...........
Net Gas Utility and Other Plant ..................
Gas and oil producing properties, full cost method
Accumulated depletion ............................
Net Gas and Oil Producing Properties .............
Net Property, Plant, and Equipment .................
Investments and Other Assets
Accounts receivable - noncurrent .................
Unconsolidated affiliates ........................
Assets held for sale .............................
Other ............................................
Total Investments and Other Assets .................
Investments in Subsidiaries
Capital stock ....................................
Equity in undistributed earnings of
subsidiaries ....................................
Notes receivable .................................
Other investments ................................
Total Investments in Subsidiaries ..................
Current Assets
Cash and temporary cash investments ..............
Accounts receivable, net
Customers ......................................
Intercompany ...................................
Other ..........................................
Income tax refunds ...............................
Gas inventory ....................................
Other inventories, at average cost ...............
Prepayments ......................................
Regulatory assets ................................
Other ............................................
Total Current Assets ...............................
Deferred Charges ...................................
Long-term Regulatory Assets ........................
TOTAL ASSETS .......................................
CONFIDENTIAL TREATMENT REQUESTED
</TABLE>
<PAGE> 70
F-1B (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating TCC
CAPITALIZATION AND LIABILITIES TGT TCC Combined Entries Consolidated
--- --- -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,498,460 shares outstanding) ..
Subsidiaries - common stock .....................
Additional paid in capital ......................
Retained earnings ...............................
Unearned employee compensation ..................
Total common stock equity .........................
Long-term debt ....................................
Installment promissory notes payable ..............
Other intercompany notes and loans ................
Total Capitalization ................................
Current Liabilities
Debt obligations ..................................
Accounts and drafts payable .......................
Intercompany notes and loans - current maturities .
Intercompany short-term loans .....................
Intercompany accounts payable .....................
Accrued taxes .....................................
Accrued interest ..................................
Estimated rate refunds ............................
Estimated supplier obligations ....................
Transportation and exchange gas payable ...........
Deferred income taxes .............................
Regulatory liabilities ............................
Other .............................................
Total Current Liabilities ...........................
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent .................
Investment tax credits ............................
Postretirement benefits other than pensions .......
Long-term regulatory liabilities ..................
Other .............................................
Total Other Liabilities and Deferred Credits ........
TOTAL CAPITALIZATION AND LIABILITIES ................
CONFIDENTIAL TREATMENT REQUESTED
</TABLE>
<PAGE> 71
F1C (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CLG
ASSETS CLNG CLG Combined Entries Consolidated
---- --- -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost .....
Accumulated depreciation and depletion ............
Net Gas Utility and Other Plant ...................
Gas and oil producing properties, full cost method
Accumulated depletion .............................
Net Gas and Oil Producing Properties ..............
Net Property, Plant, and Equipment ..................
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
Total Investments and Other Assets ..................
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
Total Investments in Subsidiaries ...................
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Other .............................................
Total Current Assets ................................
Deferred Charges ....................................
Long-term Regulatory Assets .........................
TOTAL ASSETS ........................................
CONFIDENTIAL TREATMENT REQUESTED
</TABLE>
<PAGE> 72
F-1C (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Balance Sheet as of December 31, 1997
(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
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding)
Subsidiaries - common stock ...................
Additional paid in capital ....................
Retained earnings .............................
Unearned employee compensation ................
Total common stock equity .......................
Long-term debt ..................................
Installment promissory notes payable ............
Other intercompany notes and loans ..............
Total Capitalization ..............................
Current Liabilities
Debt obligations ................................
Accounts and drafts payable .....................
Intercompany notes and loans - current maturities
Intercompany short-term loans ...................
Intercompany accounts payable ...................
Accrued taxes ...................................
Accrued interest ................................
Estimated rate refunds ..........................
Estimated supplier obligations ..................
Transportation and exchange gas payable .........
Deferred income taxes ...........................
Regulatory liabilities ..........................
Other ...........................................
Total Current Liabilities .........................
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ...............
Investment tax credits ..........................
Postretirement benefits other than pensions .....
Long-term regulatory liabilities ................
Other ...........................................
Total Other Liabilities and Deferred Credits ......
TOTAL CAPITALIZATION AND LIABILITIES ..............
CONFIDENTIAL TREATMENT REQUESTED
</TABLE>
<PAGE> 73
F-1D (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
ASSETS CEM CPM CSP CES
--- --- --- ---
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost .....
Accumulated depreciation and depletion ............
Net Gas Utility and Other Plant ...................
Gas and oil producing properties, full cost method
Accumulated depletion .............................
Net Gas and Oil Producing Properties ..............
Net Property, Plant, and Equipment ..................
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
Total Investments and Other Assets ..................
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
Total Investments in Subsidiaries ...................
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Exchange gas receivable ...........................
Other .............................................
Total Current Assets ................................
Deferred Charges ....................................
Long-term Regulatory Assets .........................
TOTAL ASSETS ........................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<TABLE>
<CAPTION>
Consoli-
dating CES
ASSETS Combined Entries Consolidated
------ -------- ------- ------------
<S> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost .....
Accumulated depreciation and depletion ............
Net Gas Utility and Other Plant ...................
Gas and oil producing properties, full cost method
Accumulated depletion .............................
Net Gas and Oil Producing Properties ..............
Net Property, Plant, and Equipment ..................
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
Total Investments and Other Assets ..................
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
Total Investments in Subsidiaries ...................
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Exchange gas receivable ...........................
Other .............................................
Total Current Assets ................................
Deferred Charges ....................................
Long-term Regulatory Assets .........................
TOTAL ASSETS ........................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 74
F-1D (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CAPITALIZATION AND LIABILITIES CEM CPM CSP CES Combined
--- --- --- --- --------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460) 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
Debt obligations ................................
Accounts and drafts payable .....................
Intercompany notes and loans - current maturities
Intercompany short-term loans ...................
Intercompany accounts payable ...................
Accrued taxes ...................................
Accrued interest ................................
Estimated rate refunds ..........................
Estimated supplier obligations ..................
Transportation and exchange gas payable .........
Deferred income taxes ...........................
Regulatory liabilities ..........................
Other ...........................................
Total Current Liabilities .........................
Other Liabilities and Deferred Credits
Income taxes, noncurrent ........................
Investment tax credits ..........................
Postretirement benefits other than pensions .....
Long-term regulatory liabilities ................
Other ...........................................
Total Other Liabilities and Deferred Credits ......
TOTAL CAPITALIZATION AND LIABILITIES ..............
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<TABLE>
<CAPTION>
Consoli-
dating CES
CAPITALIZATION AND LIABILITIES Entries Consolidated
------- ------------
<S> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460) shares outstanding)
Subsidiaries - common stock ...................
Additional paid in capital ....................
Retained earnings .............................
Unearned employee compensation ................
Total common stock equity .......................
Long-term debt ..................................
Installment promissory notes payable ............
Other intercompany notes and loans ..............
Total Capitalization ..............................
Current Liabilities
Debt obligations ................................
Accounts and drafts payable .....................
Intercompany notes and loans - current maturities
Intercompany short-term loans ...................
Intercompany accounts payable ...................
Accrued taxes ...................................
Accrued interest ................................
Estimated rate refunds ..........................
Estimated supplier obligations ..................
Transportation and exchange gas payable .........
Deferred income taxes ...........................
Regulatory liabilities ..........................
Other ...........................................
Total Current Liabilities .........................
Other Liabilities and Deferred Credits
Income taxes, noncurrent ........................
Investment tax credits ..........................
Postretirement benefits other than pensions .....
Long-term regulatory liabilities ................
Other ...........................................
Total Other Liabilities and Deferred Credits ......
TOTAL CAPITALIZATION AND LIABILITIES ..............
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 75
F-1E (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiary
Consolidated Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CNS
ASSETS CMC CNS Combined Entries Consolidated
--- --- -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost .....
Accumulated depreciation and depletion ............
Net Gas Utility and Other Plant ...................
Gas and oil producing properties, full cost method
Accumulated depletion .............................
Net Gas and Oil Producing Properties ..............
Net Property, Plant, and Equipment ..................
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
Total Investments and Other Assets ..................
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
Total Investments in Subsidiaries ...................
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets ..................................
Other .............................................
Total Current Assets ................................
Deferred Charges ....................................
Long-term Regulatory Assets .........................
TOTAL ASSETS ........................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 76
F-1E (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiary
Consolidated Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CNS
CAPITALIZATION AND LIABILITIES CMC CNS Combined Entries Consolidated
--- --- -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding)
Subsidiaries - common stock ...................
Additional paid in capital ....................
Retained earnings .............................
Unearned employee compensation ................
Total common stock equity .......................
Long-term debt ..................................
Installment promissory notes payable ............
Other intercompany notes and loans ..............
Total Capitalization ..............................
Current Liabilities
Debt obligations ................................
Accounts and drafts payable .....................
Intercompany notes and loans - current maturities
Intercompany short-term loans ...................
Intercompany accounts payable ...................
Accrued taxes ...................................
Accrued interest ................................
Estimated rate refunds ..........................
Estimated supplier obligations ..................
Transportation and exchange gas payable .........
Deferred income taxes ...........................
Regulatory liabilities ..........................
Other ...........................................
Total Current Liabilities .........................
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ...............
Investment tax credits ..........................
Postretirement benefits other than pensions .....
Long-term regulatory liabilities ................
Other ...........................................
Total Other Liabilities and Deferred Credits ......
TOTAL CAPITALIZATION AND LIABILITIES ..............
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 77
<TABLE>
<CAPTION>
F-1F (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Natural Resources, Inc. and Subsidiary
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
Consoli-
dating CNR
ASSETS CNR Alamco Combined Entries Consolidated
-------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost .......
Accumulated depreciation and depletion ..............
Net Gas Utility and Other Plant .....................
Gas and oil producing properties, full cost method ..
Accumulated depletion ...............................
Net Gas and Oil Producing Properties ................
Net Property, Plant, and Equipment ....................
Investments and Other Assets
Accounts receivable - noncurrent ....................
Unconsolidated affiliates ...........................
Assets held for sale ................................
Other ...............................................
Total Investments and Other Assets ....................
Investments in Subsidiaries
Capital stock .......................................
Equity in undistributed earnings of
subsidiaries .......................................
Notes receivable ....................................
Other investments ...................................
Total Investments in Subsidiaries .....................
Current Assets
Cash and temporary cash investments .................
Accounts receivable, net ............................
Customers .........................................
Intercompany ......................................
Other .............................................
Income tax refunds ..................................
Gas inventory .......................................
Other inventories, at average cost ..................
Prepayments .........................................
Regulatory assets ...................................
Other ...............................................
Total Current Assets ..................................
Deferred Charges ......................................
Long-term Regulatory Assets ...........................
TOTAL ASSETS ..........................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 78
<TABLE>
<CAPTION>
F-1F (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Natural Resources, Inc. and Subsidiary
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
Consoli-
dating CNR
CAPITALIZATION AND LIABILITIES CNR Alamco Combined Entries Consolidated
-------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding) ...
Subsidiaries - common stock ......................
Additional paid in capital .......................
Retained earnings ................................
Unearned employee compensation ...................
Total common stock equity ..........................
Long-term debt .....................................
Installment promissory notes payable ...............
Other intercompany notes and loans .................
Total Capitalization .................................
Current Liabilities
Debt obligations ...................................
Debtor-in-possession financing .....................
Accounts and drafts payable ........................
Intercompany notes and loans - current maturities
Intercompany short-term loans ......................
Intercompany accounts payable ......................
Accrued taxes ......................................
Accrued interest ...................................
Estimated rate refunds .............................
Estimated supplier obligations .....................
Transportation and exchange gas payable ............
Deferred income taxes ..............................
Regulatory liabilities .............................
Other ..............................................
Total Current Liabilities ............................
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ..................
Investment tax credits .............................
Postretirement benefits other than pensions ........
Long-term regulatory liabilities ...................
Other ..............................................
Total Other Liabilities and Deferred Credits .........
TOTAL CAPITALIZATION AND LIABILITIES .................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 79
F-1G (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Alamco, Inc and Subsidiaries
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating Alamco
ASSETS Alamco Hawg Hauling Alamco - Delaware Combined Entries Consolidated
------ ------ ------------ ----------------- -------- ------- ------------
<S> <C> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ....
Accumulated depreciation and depletion ...........
Net Gas Utility and Other Plant ..................
Gas and oil producing properties, full cost method
Accumulated depletion ............................
Net Gas and Oil Producing Properties .............
Net Property, Plant, and Equipment .................
Investments and Other Assets .......................
Accounts receivable - noncurrent .................
Unconsolidated affiliates ........................
Assets held for sale .............................
Other ..........................................
Total Investments and Other Assets .................
Investments in Subsidiaries
Capital stock ....................................
Equity in undistributed earnings of
subsidiaries ....................................
Notes receivable .................................
Other investments ................................
Total Investments in Subsidiaries ..................
Current Assets .....................................
Cash and temporary cash investments ..............
Accounts receivable, net .........................
Customers ......................................
Intercompany ...................................
Other ..........................................
Income tax refunds ...............................
Gas inventory ....................................
Other inventories, at average cost ...............
Prepayments ......................................
Regulatory assets ................................
Other ............................................
Total Current Assets ...............................
Deferred Charges ...................................
Long-term Regulatory Assets ........................
TOTAL ASSETS .......................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 80
F-1G (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Alamco, Inc and Subsidiaries
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating Alamco
CAPITALIZATION AND LIABILITIES Alamco Hawg Hauling Alamco - Delaware Combined Entries Consolidated
------ ------------ ----------------- -------- ------- ------------
<S> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding)
Subsidiaries - common stock ...................
Additional paid in capital ....................
Retained earnings .............................
Unearned employee compensation ................
Total common stock equity .......................
Long-term debt ..................................
Installment promissory notes payable ............
Other intercompany notes and loans ..............
Total Capitalization ..............................
Current Liabilities
Debt obligations ................................
Debtor-in-possession financing........ ..........
Accounts and drafts payable .....................
Intercompany notes and loans - current maturities
Intercompany short-term loans ...................
Intercompany accounts payable ...................
Accrued taxes ...................................
Accrued interest ................................
Estimated rate refunds ..........................
Estimated supplier obligations ..................
Transportation and exchange gas payable .........
Deferred income taxes ...........................
Regulatory liabilities ..........................
Other ...........................................
Total Current Liabilities .........................
Other Liabilities and Deferred Credits
Income taxes, noncurrent ........................
Investment tax credits ..........................
Postretirement benefits other than pensions .....
Long-term regulatory liabilities ................
Other ...........................................
Total Other Liabilities and Deferred Credits ......
TOTAL CAPITALIZATION AND LIABILITIES ..............
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 81
F-2 (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet Entries as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----- ------------ ------ -----------
<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 ................
Gas and oil 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 ......................
Assets held for sale ...........................
Other ..........................................
Total Investments and Other Assets ...............
Investments in Subsidiaries
Capital stock ..................................
Equity in undistributed earnings of
subsidiaries ..................................
Notes receivable ...............................
Other investments ..............................
Total Investments in Subsidiaries ................
Current Assets
Cash and temporary cash investments ............
Accounts receivable, net
Customers ....................................
Intercompany .................................
Other ........................................
Income tax refunds .............................
Gas inventory ..................................
Other inventories, at average cost .............
Prepayments ....................................
Regulatory assets ..............................
Underrecovered gas costs .......................
Prepaid property tax ...........................
Exchange gas receivable ........................
Other ..........................................
Total Current Assets .............................
Deferred Charges .................................
Long-term Regulatory Assets ......................
TOTAL ASSETS .....................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 82
F-2 (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Balance Sheet Entries as of December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----- ------------ ------ -----------
CAPITALIZATION AND LIABILITIES
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding)...
Subsidiaries - common stock .....................
Additional paid in capital ......................
Retained earnings ...............................
Unearned employee compensation ..................
Total common stock equity .........................
Preferred stock ...................................
Long-term debt ....................................
Installment promissory notes payable ..............
Other intercompany notes and loans ................
Total Capitalization ................................
Current Liabilities
Short-term debt ...................................
Debt obligations ..................................
Accounts and drafts payable .......................
Intercompany notes and loans - current maturities..
Intercompany short-term loans .....................
Intercompany accounts payable .....................
Accrued taxes .....................................
Accrued interest ..................................
Estimated rate refunds ............................
Estimated supplier obligations ....................
Overrecovered gas costs ...........................
Transportation and exchange gas payable ...........
Deferred income taxes .............................
Regulatory liabilities ............................
Other .............................................
Total Current Liabilities ...........................
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent .................
Investment tax credits ............................
Postretirement benefits other than pensions .......
Long-term regulatory liabilities ..................
Other .............................................
Total Other Liabilities and Deferred Credits ........
TOTAL CAPITALIZATION AND LIABILITIES ................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 83
F-2A (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
------- ------- ------- -------
<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 ..................
Gas and oil producing properties, full cost
method .........................................
Accumulated depletion ............................
Net Gas and Oil Producing Properties .............
Net Property, Plant, and Equipment .................
Investments and Other Assets
Accounts receivable - noncurrent .................
Unconsolidated affiliates ........................
Assets held for sale .............................
Other ............................................
Total Investments and Other Assets .................
Investments in Subsidiaries
Capital stock ....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable .................................
Other investments ................................
Total Investments in Subsidiaries ..................
Current Assets
Cash and temporary cash investments ..............
Accounts receivable, net
Customers ........................................
Intercompany .....................................
Other ............................................
Income tax refunds ...............................
Gas inventory ....................................
Other inventories, at average cost ...............
Prepayments ......................................
Other ............................................
Total Current Assets ...............................
Deferred Charges ...................................
TOTAL ASSETS .......................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 84
F-2A (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
CAPITALIZATION AND LIABILITIES Total Transactions Equity Adjustments
------- ------- ------- -------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding) .....
Subsidiaries - common stock .......................
Additional paid in capital ........................
Retained earnings .................................
Unearned employee compensation ....................
Total common stock equity .........................
Long-term debt ....................................
Installment promissory notes payable ..............
Other intercompany notes and loans ................
Total Capitalization ................................
Current Liabilities
Debt obligations ..................................
Accounts and drafts payable .......................
Intercompany notes and loans - current maturities..
Intercompany short-term loans .....................
Intercompany accounts payable .....................
Accrued taxes .....................................
Accrued interest ..................................
Estimated rate refunds ............................
Estimated supplier obligations ....................
Transportation and exchange gas payable ...........
Deferred income taxes .............................
Other .............................................
Total Current Liabilities ...........................
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent .................
Investment tax credits ............................
Postretirement benefits other than pensions .......
Other .............................................
Total Other Liabilities and Deferred Credits ........
TOTAL CAPITALIZATION AND LIABILITIES ................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 85
F-2B (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
ASSETS Total Transactions Equity Adjustments
------ ------ ------ ------
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost .......
Accumulated depreciation and depletion ..............
Net Gas Utility and Other Plant .....................
Gas and oil producing properties, full cost method ..
Accumulated depletion ...............................
Net Gas and Oil Producing Properties ................
Net Property, Plant, and Equipment ....................
Investments and Other Assets
Accounts receivable - noncurrent ....................
Unconsolidated affiliates ...........................
Assets held for sale ................................
Other ...............................................
Total Investments and Other Assets ....................
Investments in Subsidiaries
Capital stock .......................................
Equity in undistributed earnings of
subsidiaries .......................................
Notes receivable ....................................
Other investments ...................................
Total Investments in Subsidiaries .....................
Current Assets
Cash and temporary cash investments .................
Accounts receivable, net
Customers .........................................
Intercompany ......................................
Other .............................................
Income tax refunds ..................................
Gas inventory .......................................
Other inventories, at average cost ..................
Prepayments .........................................
Regulatory assets ...................................
Other ...............................................
Total Current Assets ..................................
Deferred Charges ......................................
Long-term Regulatory Assets ...........................
TOTAL ASSETS ..........................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 86
F-2B (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
CAPITALIZATION AND LIABILITIES Total Transactions Equity Adjustments
------ ------ ------ ------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding) ...
Subsidiaries - common stock ......................
Additional paid in capital .......................
Retained earnings ................................
Unearned employee compensation ...................
Total common stock equity ..........................
Long-term debt .....................................
Installment promissory notes payable ...............
Other intercompany notes and loans .................
Total Capitalization .................................
Current Liabilities
Debt obligations ...................................
Accounts and drafts payable ........................
Intercompany notes and loans - current maturities ..
Intercompany short-term loans ......................
Intercompany accounts payable ......................
Accrued taxes ......................................
Accrued interest ...................................
Estimated rate refunds .............................
Estimated supplier obligations .....................
Transportation and exchange gas payable ............
Deferred income taxes ..............................
Regulatory liabilities .............................
Other ..............................................
Total Current Liabilities ............................
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ..................
Investment tax credits .............................
Postretirement benefits other than pensions ........
Long-term regulatory liabilities ...................
Other ..............................................
Total Other Liabilities and Deferred Credits .........
TOTAL CAPITALIZATION AND LIABILITIES .................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 87
F-2C (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
ASSETS Total Transactions Equity Adjustments
------- ------- ------- -------
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost .......
Accumulated depreciation and depletion ..............
Net Gas Utility and Other Plant .....................
Gas and oil producing properties, full cost method ..
Accumulated depletion ...............................
Net Gas and Oil Producing Properties ................
Net Property, Plant, and Equipment ....................
Investments and Other Assets
Accounts receivable - noncurrent ....................
Unconsolidated affiliates ...........................
Assets held for sale ................................
Other ...............................................
Total Investments and Other Assets ....................
Investments in Subsidiaries
Capital stock .......................................
Equity in undistributed earnings of
subsidiaries .......................................
Notes receivable ....................................
Other investments ...................................
Total Investments in Subsidiaries .....................
Current Assets
Cash and temporary cash investments .................
Accounts receivable, net
Customers .........................................
Intercompany ......................................
Other .............................................
Income tax refunds ..................................
Gas inventory .......................................
Other inventories, at average cost ..................
Prepayments .........................................
Regulatory assets ...................................
Other ...............................................
Total Current Assets ..................................
Deferred Charges ......................................
Long-term Regulatory Assets ...........................
TOTAL ASSETS ..........................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 88
F-2C (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
CAPITALIZATION AND LIABILITIES Total Transactions Equity Adjustments
---- ---- ---- ----
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding) ...
Subsidiaries - common stock ......................
Additional paid in capital .......................
Retained earnings ................................
Unearned employee compensation ...................
Total common stock equity ..........................
Long-term debt .....................................
Installment promissory notes payable ...............
Other intercompany notes and loans .................
Total Capitalization .................................
Current Liabilities
Debt obligations ...................................
Accounts and drafts payable ........................
Intercompany notes and loans - current maturities ..
Intercompany short-term loans ......................
Intercompany accounts payable ......................
Accrued taxes ......................................
Accrued interest ...................................
Estimated rate refunds .............................
Estimated supplier obligations .....................
Transportation and exchange gas payable ............
Deferred income taxes ..............................
Regulatory liabilities .............................
Other ..............................................
Total Current Liabilities ............................
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ..................
Investment tax credits .............................
Postretirement benefits other than pensions ........
Long-term regulatory liabilities ...................
Other ..............................................
Total Other Liabilities and Deferred Credits .........
TOTAL CAPITALIZATION AND LIABILITIES .................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 89
F-1D (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Balance Sheet as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----- ------------ ------ -----------
ASSETS
Property, Plant and Equipment
<S> <C> <C> <C> <C>
Gas utility and other plant, at original cost ....
Accumulated depreciation and depletion ...........
Net Gas Utility and Other Plant ..................
Gas and oil producing properties, full cost
method .........................................
Accumulated depletion ............................
Net Gas and Oil Producing Properties .............
Net Property, Plant, and Equipment .................
Investments and Other Assets
Accounts receivable - noncurrent .................
Unconsolidated affiliates ........................
Assets held for sale .............................
Other ............................................
Total Investments and Other Assets .................
Investments in Subsidiaries
Capital stock ....................................
Equity in undistributed earnings of
subsidiaries ....................................
Notes receivable .................................
Other investments ................................
Total Investments in Subsidiaries ..................
Current Assets
Cash and temporary cash investments ..............
Accounts receivable, net
Customers ......................................
Intercompany ...................................
Other ..........................................
Income tax refunds ...............................
Gas inventory ....................................
Other inventories, at average cost ...............
Prepayments ......................................
Regulatory assets ................................
Exchange gas receivable ..........................
Other ............................................
Total Current Assets ...............................
Deferred Charges ...................................
Long-term Regulatory Assets ........................
TOTAL ASSETS .......................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 90
F-2D (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----- ------------ ------ -----------
<S> <C> <C> <C> <C>
CAPITALIZATION AND LIABILITIES
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding)
Subsidiaries - common stock ...................
Additional paid in capital ....................
Retained earnings .............................
Unearned employee compensation ................
Total common stock equity .......................
Long-term debt ..................................
Installment promissory notes payable ............
Other intercompany notes and loans ..............
Total Capitalization ..............................
Current Liabilities
Debt obligations ................................
Accounts and drafts payable .....................
Intercompany notes and loans - current
maturities.....................................
Intercompany short-term loans ...................
Intercompany accounts payable ...................
Accrued taxes ...................................
Accrued interest ................................
Estimated rate refunds ..........................
Estimated supplier obligations ..................
Transportation and exchange gas payable .........
Deferred income taxes ...........................
Regulatory liabilities ..........................
Other ...........................................
Total Current Liabilities .........................
Other Liabilities and Deferred Credits
Income taxes, noncurrent ........................
Investment tax credits ..........................
Postretirement benefits other than pensions .....
Long-term regulatory liabilities ................
Other ...........................................
Total Other Liabilities and Deferred Credits ......
TOTAL CAPITALIZATION AND LIABILITIES ..............
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 91
F-2E (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiary
Consolidated Balance Sheet Entries as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
ASSETS Total Transactions Equity Adjustments
----- ------------ ------ -----------
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ....
Accumulated depreciation and depletion ...........
Net Gas Utility and Other Plant ..................
Gas and oil producing properties, full cost
method ..........................................
Accumulated depletion ............................
Net Gas and Oil Producing Properties .............
Net Property, Plant, and Equipment .................
Investments and Other Assets
Accounts receivable - noncurrent .................
Unconsolidated affiliates ........................
Assets held for sale .............................
Other ............................................
Total Investments and Other Assets .................
Investments in Subsidiaries
Capital stock ....................................
Equity in undistributed earnings of
subsidiaries ....................................
Notes receivable .................................
Other investments ................................
Total Investments in Subsidiaries ..................
Current Assets
Cash and temporary cash investments ..............
Accounts receivable, net
Customers ......................................
Intercompany ...................................
Other ..........................................
Income tax refunds ...............................
Gas inventory ....................................
Other inventories, at average cost ...............
Prepayments ......................................
Regulatory assets ................................
Other ............................................
Total Current Assets ...............................
Deferred Charges ...................................
Long-term Regulatory Assets ........................
TOTAL ASSETS .......................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 92
F-2F (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Natural Resources, Inc. and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
ASSETS Total Transactions Equity Adjustments
------ ----- ------------ ------ -----------
<S> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost ....
Accumulated depreciation and depletion ...........
Net Gas Utility and Other Plant ..................
Gas and oil producing properties, full cost
method ..........................................
Accumulated depletion ............................
Net Gas and Oil Producing Properties .............
Net Property, Plant, and Equipment .................
Investments and Other Assets
Accounts receivable - noncurrent .................
Unconsolidated affiliates ........................
Assets held for sale .............................
Other ............................................
Total Investments and Other Assets .................
Investments in Subsidiaries
Capital stock ....................................
Equity in undistributed earnings of
subsidiaries ....................................
Notes receivable .................................
Other investments ................................
Total Investments in Subsidiaries ..................
Current Assets
Cash and temporary cash investments ..............
Accounts receivable, net
Customers ......................................
Intercompany ...................................
Other ..........................................
Income tax refunds ...............................
Gas inventory ....................................
Other inventories, at average cost ...............
Prepayments ......................................
Regulatory assets ................................
Other ............................................
Total Current Assets ...............................
Deferred Charges ...................................
Long-term Regulatory Assets ........................
TOTAL ASSETS .......................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 93
F-2F (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Natural Resources, Inc. and Subsidiary
Consolidating Balance Sheet Entries as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
CAPITALIZATION AND LIABILITIES Total Transactions Equity Adjustments
------------------------------ ----- ------------ ------ -----------
<S> <C> <C> <C> <C>
Capitalization
Common Stock Equity
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares outstanding)
Subsidiaries - common stock ...................
Additional paid in capital ....................
Retained earnings .............................
Unearned employee compensation ................
Total common stock equity .......................
Long-term debt ..................................
Installment promissory notes payable ............
Other intercompany notes and loans ..............
Total Capitalization ..............................
Current Liabilities
Debt obligations ................................
Accounts and drafts payable .....................
Intercompany notes and loans - current
maturities ....................................
Intercompany short-term loans ...................
Intercompany accounts payable ...................
Accrued taxes ...................................
Accrued interest ................................
Estimated rate refunds ..........................
Estimated supplier obligations ..................
Transportation and exchange gas payable .........
Deferred income taxes ...........................
Regulatory liabilities ..........................
Other ...........................................
Total Current Liabilities .........................
Other Liabilities and Deferred Credits
Deferred income taxes, noncurrent ...............
Investment tax credits ..........................
Postretirement benefits other than pensions .....
Long-term regulatory liabilities ................
Other ...........................................
Total Other Liabilities and Deferred Credits ......
TOTAL CAPITALIZATION AND LIABILITIES ..............
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 94
F-2G (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Alamco, Inc. and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ 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/
ASSETS Total Transactions Equity Cost Pool Adjustments
----- ------------ ------ --------- -----------
<S> <C> <C> <C> <C> <C>
Property, Plant and Equipment
Gas utility and other plant, at original cost .....
Accumulated depreciation and depletion ............
Net Gas Utility and Other Plant ...................
Gas and oil producing properties, full cost method
Accumulated depletion .............................
Net Gas and Oil Producing Properties ..............
Net Property, Plant, and Equipment ..................
Investments and Other Assets
Accounts receivable - noncurrent ..................
Unconsolidated affiliates .........................
Assets held for sale ..............................
Other .............................................
Total Investments and Other Assets ..................
Investments in Subsidiaries
Capital stock .....................................
Equity in undistributed earnings of
subsidiaries .....................................
Notes receivable ..................................
Other investments .................................
Total Investments in Subsidiaries ...................
Current Assets
Cash and temporary cash investments ...............
Accounts receivable, net
Customers .......................................
Intercompany ....................................
Other ...........................................
Income tax refunds ................................
Gas inventory .....................................
Other inventories, at average cost ................
Prepayments .......................................
Regulatory assets .................................
Other .............................................
Total Current Assets ................................
Deferred Charges ....................................
Long-term Regulatory Assets .........................
TOTAL ASSETS ........................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 95
F-2G (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Alamco, Inc. and Subsidiaries
Consolidating Balance Sheet Entries as of December 31, 1997
(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
Columbia Energy Group - common stock,
$10 par value (55,495,460 shares
outstanding) ...............................
Subsidiaries - common stock ...................
Additional paid in capital ....................
Retained earnings .............................
Unearned employee compensation ................
Total common stock equity .......................
Long-term debt ..................................
Installment promissory notes payable ............
Other intercompany notes and loans ..............
Total Capitalization ..............................
Current Liabilities
Debt obligations ................................
Accounts and drafts payable .....................
Intercompany notes and loans - current
maturities ....................................
Intercompany short-term loans ...................
Intercompany accounts payable ...................
Accrued taxes ...................................
Accrued interest ................................
Estimated rate refunds ..........................
Estimated supplier obligations ..................
Transportation and exchange gas payable .........
Deferred income taxes ...........................
Regulatory liabilities ..........................
Other ...........................................
Total Current Liabilities .........................
Other Liabilities and Deferred Credits
Income taxes, noncurrent ........................
Investment tax credits ..........................
Postretirement benefits other than pensions .....
Long-term regulatory liabilities ................
Other ...........................................
Total Other Liabilities and Deferred Credits ......
TOTAL CAPITALIZATION AND LIABILITIES ..............
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 96
F-3 (1 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
F-3 F-3 F-3 F-3 dating Consoli-
Page 2 Page 3 Page 4 Page 5 Combined Entries dated
---------- ---------- ---------- ------ ---------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales .......................... 4,286,717
Transportation ..................... 531,526
Storage ............................ 90,593
Other .............................. 144,817
----------
Total Operating Revenues ............. 5,053,653
----------
Operating Expenses
Products purchased ................. 3,138,072
Operation .......................... 862,076
Maintenance ........................ 100,203
Depreciation and depletion ......... 221,313
Other taxes ........................ 222,561
----------
Total Operating Expenses ............. 4,544,225
----------
Operating Income (Loss) .............. 509,428
----------
Other Income (Deductions)
Interest income and other, net ..... 40,398
Interest expense and related
charges ........................... (157,560)
----------
Total Other Income (Deductions) ...... (117,162)
----------
Income (Loss) before Income Taxes .... 392,266
Income Taxes ......................... 118,930
----------
Net Income (Loss) .................... 273,336
==========
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 97
F-3 (2 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3 Page 2
CNR (a) TCO CGT CLG (a) CKY Total
-------- -------- -------- ------- -------- ----------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales .......................... 3,235 -- 147,490
Transportation ..................... 489,140 133,135 8,381
Storage ............................ 179,850 -- --
Other .............................. 26,175 8,397 386
-------- -------- --------
Total Operating Revenues ............. 698,400 141,532 156,257
-------- -------- --------
Operating Expenses
Products purchased ................. 2,119 -- 93,413
Operation .......................... 302,593 65,633 27,948
Maintenance ........................ 38,078 16,122 2,885
Depreciation and depletion ......... 81,192 23,133 6,704
Other taxes ........................ 44,878 7,881 2,184
-------- -------- --------
Total Operating Expenses ............. 468,860 112,769 133,134
-------- -------- --------
Operating Income (Loss) .............. 229,540 28,763 23,123
-------- -------- --------
Other Income (Deductions)
Interest income and other, net ..... 25,109 635 150
Interest expense and related
charges .......................... (46,061) (5,370) (4,617)
-------- -------- --------
Total Other Income (Deductions) ...... (20,952) (4,735) (4,467)
-------- -------- --------
Income (Loss) before Income Taxes .... 208,588 24,028 18,656
Income Taxes ......................... 64,495 8,700 7,017
-------- -------- --------
Net Income (Loss) .................... 144,093 15,328 11,639
======== ======== ========
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 98
F-3 (3 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3 Page 3
COH CMD CPA COS CG Total
---------- ------- -------- -------- -------- ----------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales .......................... 1,340,113 49,981 426,185 183,761
Transportation ..................... 83,323 2,978 36,358 12,136
Storage ............................ -- -- -- --
Other .............................. 2,302 153 661 2,103
---------- ------- -------- --------
Total Operating Revenues ............. 1,425,738 53,112 463,204 198,000
---------- ------- -------- --------
Operating Expenses
Products purchased ................. 901,298 32,690 263,441 107,354
Operation .......................... 233,711 8,698 91,655 38,654
Maintenance ........................ 19,674 1,263 8,419 8,068
Depreciation and depletion ......... 44,918 2,700 14,714 9,206
Other taxes ........................ 116,164 1,911 25,685 8,744
---------- ------- -------- --------
Total Operating Expenses ............. 1,315,765 47,262 403,914 172,026
---------- ------- -------- --------
Operating Income (Loss) .............. 109,973 5,850 59,290 25,974
---------- ------- -------- --------
Other Income (Deductions)
Interest income and other, net ..... 759 41 (15) 379
Interest expense and related
charges .......................... (29,039) (1,438) (13,455) (8,889)
---------- ------- -------- --------
Total Other Income (Deductions) ...... (28,280) (1,397) (13,470) (8,510)
---------- ------- -------- --------
Income (Loss) before Income Taxes .... 81,693 4,453 45,820 17,464
Income Taxes ......................... 29,267 1,400 15,265 5,337
---------- ------- -------- --------
Net Income (Loss) .................... 52,426 3,053 30,555 12,127
========== ======= ======== ========
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 99
F-3 (4 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3 Page 4
CS CIC CES (a) CPC TVC (a) Total
------- ----- ---------- ------- ------- ----------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related
charges ..........................
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 100
F-3 (5 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Income
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3 Page 5
TCC (a) CAT CNS (a) Total
------ --- ------ ------
<S> <C> <C> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related
charges ..........................
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 101
F-3A (1 of 3)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3A F-3A Consolidating TVC
Page 2 Page 3 Combined Entries Consolidated
------ ------ -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................
Transportation .......................
Storage ..............................
Other ................................
Total Operating Revenues ...............
Operating Expenses
Products purchased ...................
Operation ............................
Maintenance ..........................
Depreciation and depletion ...........
Other taxes ..........................
Total Operating Expenses ...............
Operating Income (Loss) ................
Other Income (Deductions)
Interest income and other, net .......
Interest expense and related charges..
Total Other Income (Deductions) ........
Income (Loss) before Income Taxes ......
Income Taxes ...........................
Net Income (Loss) ......................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 102
F-3A (2 of 3)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3A Page 2
BGC BLC GGC GLC PGC PLC TVC Total
--- --- --- --- --- --- --- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 103
F-3A (3 of 3)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-3A Page 3
VGC VLC RL FC TVC9 TVC10 Total
--- --- -- -- ---- ----- -----
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 104
F-3B (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Statement of Income
Year Ended December 31, 1997
(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 .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 105
F-3C (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Statement of Income
Year Ended December 31, 1997
(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>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 106
F-3D (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Income Statement as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CEM CPM CSP CES Combined
--- --- --- --- --------
<S> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<TABLE>
<CAPTION>
Consoli-
dating CES
Entries Consolidated
------- ------------
<S> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 107
F-3E (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiary
Consolidating Statement of Income
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CNS
CMC CNS Combined Entries Consolidated
--- --- -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 108
F-3F (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Natural Resources, Inc. and Subsidiary
Consolidating Statement of Income
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CNR
CNR Alamco Combined Entries Consolidated
--- ------ -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales .......................... 99,469
Transportation ..................... --
Storage ............................ --
Other .............................. 13,824
-------
Total Operating Revenues ............. 113,293
-------
Operating Expenses
Products purchased ................. --
Operation .......................... 45,181
Maintenance ........................ 568
Depreciation and depletion ......... 27,564
Other taxes ........................ 9,068
-------
Total Operating Expenses ............. 82,381
-------
Operating Income (Loss) .............. 30,912
-------
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 109
F-3G (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Alamco, Inc. and Subsidiaries
Consolidating Statement of Income
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating Alamco
Alamco Hawg Hauling Alamco - Deleware Combined Entries Consolidated
------ ------------ ----------------- -------- ------- ------------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 110
F-4 (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Income Entries
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----- ------------ ------ -----------
<S> <C> <C> <C> <C>
Operating Revenues
Gas sales ............................
Transportation .......................
Storage ..............................
Other ................................
Total Operating Revenues ...............
Operating Expenses
Products purchased ...................
Operation ............................
Maintenance ..........................
Depreciation and depletion ...........
Other taxes ..........................
Total Operating Expenses ...............
Operating Income (Loss) ................
Other Income (Deductions)
Interest income and other, net .......
Interest expense and related charges..
Total Other Income (Deductions) ........
Income (Loss) before Income Taxes ......
Income Taxes ...........................
Net Income (Loss) ......................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 111
F-4A (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Income Entries
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----- ------------ ------ -----------
<S> <C> <C> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 112
F-4B (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Statement of Income Entries
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----- ------------ ------ -----------
<S> <C> <C> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues ...........
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses ...........
Operating Income (Loss) ............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ....
Income (Loss) before Income Taxes ..
Income Taxes .......................
Net Income (Loss) ..................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 113
F-4C (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Statement of Income Entries
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----- ------------ ------ -----------
<S> <C> <C> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 114
F-4D (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Income Statement Entries as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----- ------------ ----------- -----------
<S> <C> <C> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 115
F-4E (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiary
Consolidating Statement of Income Entries
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----- ------------ ------ -----------
<S> <C> <C> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 116
F-4F (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Natural Resources, Inc. and Subsidiary
Consolidating Statement of Income Entries
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Entry No. 1 Entry No. 2
Eliminate Eliminate Entry No. 3
Intercompany Subsidiary Consolidating
Total Transactions Equity Adjustments
----- ------------ ------ -----------
<S> <C> <C> <C> <C>
Operating Revenues
Gas sales ..........................
Transportation .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 117
F-4G (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Alamco, Inc. and Subsidiaries
Consolidating Statement of Income Entries
Year Ended December 31, 1997
(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 .....................
Storage ............................
Other ..............................
Total Operating Revenues .............
Operating Expenses
Products purchased .................
Operation ..........................
Maintenance ........................
Depreciation and depletion .........
Other taxes ........................
Total Operating Expenses .............
Operating Income (Loss) ..............
Other Income (Deductions)
Interest income and other, net .....
Interest expense and related charges
Total Other Income (Deductions) ......
Income (Loss) before Income Taxes ....
Income Taxes .........................
Net Income (Loss) ....................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 118
F-5 (1 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 F-5 F-5 F-5 Consolidating
Page 2 Page 3 Page 4 Page 5 Combined Entries Consolidated
------ ------ ------ ------ -------- ------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year 567,855
Common stock issued -
Subsidiaries ............. --
Dividend reinvestment plan --
Long-term incentive plan . 2,318
Public offering .......... --
Recapitalization -
Reduction in par value ... (15,218)
----------
Balance at end of year ...... 554,955
----------
Additional Paid in Capital
Balance at beginning of year 727,823
Common stock issued -
Subsidiaries ............. 177
Dividend reinvestment plan --
Long-term incentive plan . 10,998
Public offering .......... --
Other .................... --
Recapitalization -
Debt issuance ............ --
Dividends paid ........... --
Capital contributions .... --
Reduction in par value ... 15,218
----------
Balance at end of year ...... 754,216
----------
Retained Earnings
Balance at beginning of year 259,258
Net income ................. 273,336
Common stock dividends -
CG ....................... 49,879
Subsidiaries (to CG) ..... --
Other ...................... --
----------
Balance at end of year ...... 482,715
----------
Reacquired Capital Stock ..... --
Unearned Employee Compensation
Balance at beginning of year (1,459)
Adjustment ................. 292
----------
Balance at end of year ...... (1,167)
----------
TOTAL COMMON STOCK EQUITY .... 1,790,719
==========
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 119
F-5 (2 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 Page 2
CNR (a) TCO CGT CLG (a) CKY Total
------- --- --- ------- --- -----
Common Stock
<S> <C> <C> <C> <C> <C> <C>
Balance at beginning of year 241,784 59,780 23,806
Common stock issued -
Subsidiaries ............. (241,735) (59,760) --
Dividend reinvestment plan -- -- --
Long-term incentive plan . -- -- --
Public offering .......... -- -- --
Recapitalization -
Reduction in par value ... -- -- --
---------- ---------- ----------
Balance at end of year ...... 49 20 23,806
---------- ---------- ----------
Additional Paid in Capital
Balance at beginning of year 1,270,289 22,669 174
Common stock issued -
Subsidiaries ............. 241,735 59,760 --
Dividend reinvestment plan -- -- --
Long-term incentive plan . -- -- --
Public offering .......... -- -- --
Other .................... -- -- --
Recapitalization -
Debt issuance ............ -- -- --
Dividends paid ........... -- -- --
Capital contributions .... -- -- --
Reduction in par value ... -- -- --
---------- ---------- ----------
Balance at end of year ...... 1,512,024 82,429 174
---------- ---------- ----------
Retained Earnings
Balance at beginning of year (609,704) 21,276 40,326
Net income ................. 144,093 15,328 11,639
Common stock dividends -
CG ....................... -- -- --
Subsidiaries (to CG) ..... 72,000 15,200 9,284
Other ...................... -- -- --
---------- ---------- ----------
Balance at end of year ...... (537,611) 21,404 42,681
---------- ---------- ----------
Reacquired Capital Stock ..... -- -- --
Unearned Employee Compensation
Balance at beginning of year -- -- --
Adjustment ................. -- -- --
---------- ---------- ----------
Balance at end of year ...... -- -- --
---------- ---------- ----------
TOTAL COMMON STOCK EQUITY .... 974,462 103,853 66,661
========== ========== ==========
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 120
F-5 (3 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 Page 3
CMD CPA COS COH CG Total
--- --- --- --- -- -----
<S> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year 10,092 85,128 50,305 119,240
Common stock issued -
Subsidiaries ............. (10,020) -- 15,000 --
Dividend reinvestment plan -- -- -- --
Long-term incentive plan . -- -- -- --
Public offering .......... -- -- -- --
Recapitalization -
Reduction in par value ... -- -- -- --
---------- ---------- ---------- ----------
Balance at end of year ...... 72 85,128 65,305 119,240
---------- ---------- ---------- ----------
Additional Paid in Capital
Balance at beginning of year -- -- 2,969 --
Common stock issued -
Subsidiaries ............. 10,020 -- -- --
Dividend reinvestment plan -- -- -- --
Long-term incentive plan . -- -- -- --
Public offering .......... -- -- -- --
Other .................... -- -- -- --
Recapitalization -
Debt issuance ............ -- -- -- --
Dividends paid ........... -- -- -- --
Capital contributions .... -- -- -- --
Reduction in par value ... -- -- -- --
---------- ---------- ---------- ----------
Balance at end of year ...... 10,020 -- 2,969 --
---------- ---------- ---------- ----------
Retained Earnings
Balance at beginning of year 11,807 124,438 61,394 271,330
Net income ................. 3,053 30,555 12,127 52,426
Common stock dividends -
CG ....................... -- -- -- --
Subsidiaries (to CG) ..... 2,553 24,006 -- 20,509
Other ...................... -- -- -- --
---------- ---------- ---------- ----------
Balance at end of year ...... 12,307 130,987 73,521 303,247
---------- ---------- ---------- ----------
Reacquired Capital Stock ..... -- -- -- --
Unearned Employee Compensation
Balance at beginning of year -- -- -- --
Adjustment ................. -- -- -- --
---------- ---------- ---------- ----------
Balance at end of year ...... -- -- -- --
---------- ---------- ---------- ----------
TOTAL COMMON STOCK EQUITY .... 22,399 216,115 141,795 422,487
========== ========== ========== ==========
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 121
F-5 (4 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 Page 4
CS CIC CES (a) CPC TVC (a) Total
-- --- ------- --- ------- -----
Common Stock
<S> <C> <C> <C> <C> <C> <C>
Balance at beginning of year --
Common stock issued -
Subsidiaries ............. 300
Dividend reinvestment plan --
Long-term incentive plan . --
Public offering .......... --
Recapitalization -
Reduction in par value ... --
--------
Balance at end of year ...... 300
--------
Additional Paid in Capital
Balance at beginning of year --
Common stock issued -
Subsidiaries ............. 12,700
Dividend reinvestment plan --
Long-term incentive plan . --
Public offering .......... --
Other .................... --
Recapitalization -
Debt issuance ............ --
Dividends paid ........... --
Capital contributions .... --
Reduction in par value ... --
--------
Balance at end of year ...... 12,700
--------
Retained Earnings
Balance at beginning of year 3,641
Net income ................. 2,236
Common stock dividends -
CG ....................... --
Subsidiaries (to CG) ..... 2,223
Other ...................... --
--------
Balance at end of year ...... 3,654
--------
Reacquired Capital Stock ..... --
Unearned Employee Compensation
Balance at beginning of year --
Adjustment ................. --
--------
Balance at end of year ...... --
--------
TOTAL COMMON STOCK EQUITY .... 16,654
========
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 122
F-5 (5 of 5)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5 Page 5
TCC (a) CAT CNS (a) Total
------- --- ------- -----
Common Stock
<S> <C> <C> <C> <C>
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Recapitalization -
Reduction in par value ...
Balance at end of year ......
Additional Paid in Capital
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Other ....................
Recapitalization -
Debt issuance ............
Dividends paid ...........
Capital contributions ....
Reduction in par value ...
Balance at end of year ......
Retained Earnings
Balance at beginning of year
Net income .................
Common stock dividends -
CG .......................
Subsidiaries (to CG) .....
Other ......................
Balance at end of year ......
Reacquired Capital Stock .....
Unearned Employee Compensation
Balance at beginning of year
Adjustment .................
Balance at end of year ......
TOTAL COMMON STOCK EQUITY ....
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 123
F-5A (1 of 3)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5A F-5A Consolidating TVC
Page 2 Page 3 Combined Entries Consolidated
------ ------ -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year
Common stock issued - ......
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Recapitalization -
Reduction in par value ...
Balance at end of year ......
Additional Paid in Capital
Balance at beginning of year
Common stock issued - ......
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Other ....................
Recapitalization -
Debt issuance ............
Dividends paid ...........
Capital contributions ....
Reduction in par value ...
Balance at end of year ......
Retained Earnings
Balance at beginning of year
Net income (loss) ..........
Common stock dividends -
CG .......................
Subsidiaries (to CG) .....
Other ......................
Balance at end of year ......
Reacquired Capital Stock .....
Unearned Employee Compensation
Balance at beginning of year
Adjustment .................
Balance at end of year ......
TOTAL COMMON STOCK EQUITY ....
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 124
F-5A (2 of 3)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5A Page 2
BGC BLC GGC GLC PGC PLC TVC Total
--- --- --- --- --- --- --- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Recapitalization -
Reduction in par value ...
Balance at end of year ......
Additional Paid in Capital
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Other ....................
Recapitalization -
Debt issuance ............
Dividends paid ...........
Capital contributions ....
Reduction in par value ...
Balance at end of year ......
Retained Earnings
Balance at beginning of year
Net income (loss) ..........
Common stock dividends - ...
CG .......................
Subsidiaries (to CG) .....
Other ......................
Balance at end of year ......
Reacquired Capital Stock .....
Unearned Employee Compensation
Balance at beginning of year
Adjustment .................
Balance at end of year ......
TOTAL COMMON STOCK EQUITY ....
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 125
F-5A (3 of 3)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-5A Page 3
VGC VLC RL FC TVC9 TVC10 Total
--- --- -- -- ---- ----- -----
<S> <C> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Recapitalization -
Reduction in par value ...
Balance at end of year ......
Additional Paid in Capital
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Other ....................
Recapitalization -
Debt issuance ............
Dividends paid ...........
Capital contributions ....
Reduction in par value ...
Balance at end of year ......
Retained Earnings
Balance at beginning of year
Net income (loss) ..........
Common stock dividends -
CG .......................
Subsidiaries (to CG) .....
Other ......................
Balance at end of year ......
Reacquired Capital Stock .....
Unearned Employee Compensation
Balance at beginning of year
Adjustment .................
Balance at end of year ......
TOTAL COMMON STOCK EQUITY ....
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 126
F-5B (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1997
(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
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Recapitalization - .........
Reduction in par value ...
Balance at end of year .....
Additional Paid in Capital
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Other ....................
Recapitalization -
Debt issuance ............
Dividends paid ...........
Capital contributions ....
Reduction in par value ...
Balance at end of year .....
Retained Earnings
Balance at beginning of year
Net income (loss) ..........
Common stock dividends -
CG .......................
Subsidiaries (to CG) .....
Other ......................
Balance at end of year .....
Reacquired Capital Stock .....
Unearned Employee Compensation
Balance at beginning of year
Adjustment .................
Balance at end of year .....
TOTAL COMMON STOCK EQUITY ....
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 127
F-5C (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1997
(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 .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Recapitalization -
Reduction in par value ...
Balance at end of year .....
Additional Paid in Capital
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Other ....................
Recapitalization -
Debt issuance ............
Dividends paid ...........
Capital contributions ....
Reduction in par value ...
Balance at end of year .....
Retained Earnings
Balance at beginning of year
Net income (loss) ..........
Common stock dividends -
CG .......................
Subsidiaries (to CG) .....
Other ......................
Balance at end of year .....
Reacquired Capital Stock .....
Unearned Employee Compensation
Balance at beginning of year
Adjustment .................
Balance at end of year .....
TOTAL COMMON STOCK EQUITY ....
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 128
F-5D (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Statement of Common Stock Equity as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CES
CEM CPM CSP CES Combined Entries Consolidated
--- --- --- --- -------- ------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Recapitalization - .........
Reduction in par value ...
Balance at end of year ......
Additional Paid in Capital
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Other ....................
Recapitalization -
Debt issuance ............
Dividends paid ...........
Capital contributions ....
Reduction in par value ...
Balance at end of year ......
Retained Earnings
Balance at beginning of year
Net income (loss) ...........
Common stock dividends -
CG .......................
Subsidiaries (to CG) .....
Other ......................
Balance at end of year ......
Reacquired Capital Stock .....
Unearned Employee Compensation
Balance at beginning of year
Adjustment .................
Balance at end of year ......
TOTAL COMMON STOCK EQUITY ....
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 129
F-5E (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiary
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CNS
CMC CNS Combined Entries Consolidated
--- --- -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Recapitalization -
Reduction in par value ...
Balance at end of year .....
Additional Paid in Capital
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Other ....................
Recapitalization -
Debt issuance ............
Dividends paid ...........
Capital contributions ....
Reduction in par value ...
Balance at end of year .....
Retained Earnings
Balance at beginning of year
Net income (loss) ..........
Common stock dividends -
CG .......................
Subsidiaries (to CG) .....
Other ......................
Balance at end of year .....
Reacquired Capital Stock .....
Unearned Employee Compensation
Balance at beginning of year
Adjustment .................
Balance at end of year .....
TOTAL COMMON STOCK EQUITY ....
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 130
F-5F (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Natural Resources, Inc. and Subsidiary
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CNR
CNR Alamco Combined Entries Consolidated
--- ------ -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Recapitalization -
Reduction in par value ...
Balance at end of year .....
Additional Paid in Capital
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Other ....................
Recapitalization -
Debt issuance ............
Dividends paid ...........
Capital contributions ....
Reduction in par value ...
Balance at end of year .....
Retained Earnings
Balance at beginning of year
Net income (loss) ..........
Common stock dividends -
CG .......................
Subsidiaries (to CG) .....
Other ......................
Balance at end of year .....
Reacquired Capital Stock .....
Unearned Employee Compensation
Balance at beginning of year
Adjustment .................
Balance at end of year .....
TOTAL COMMON STOCK EQUITY ....
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 131
F-5G (1 of 1)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Alamco, Inc. and Subsidiaries
Consolidating Statement of Common Stock Equity
Year Ended December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating Alamco
Alamco Hawg Hauling Alamco - Deleware Combined Entries Consolidated
------ ------------ ----------------- -------- ------- ------------
<S> <C> <C> <C> <C> <C> <C>
Common Stock
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Recapitalization - .........
Reduction in par value ...
Balance at end of year .....
Additional Paid in Capital
Balance at beginning of year
Common stock issued -
Subsidiaries .............
Dividend reinvestment plan
Long-term incentive plan .
Public offering ..........
Other ....................
Recapitalization - .........
Capital contributions ....
Reduction in par value ...
Balance at end of year .....
Retained Earnings
Balance at beginning of year
Net income (loss) ..........
Common stock dividends -
CG .......................
Subsidiaries (to CG) .....
Other ......................
Balance at end of year .....
Reacquired Capital Stock .....
Unearned Employee Compensation
Balance at beginning of year
Adjustment .................
Balance at end of year .....
TOTAL COMMON STOCK EQUITY ....
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 132
F-6 (1 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
F-6 F-6 F-6 F-6 dating Consoli-
Page 2 Page 3 Page 4 Page 5 Combined Entries dated
-------- -------- ------- ------ -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 6 for detail) 468,189
--------
Investment Activities
Capital expenditures ............................. (420,491)
Contribution - partnerships ...................... (7,476)
Purchase of investment assets .................... (99,425)
Other investments - net .......................... (1,622)
--------
Net Investment Activities .......................... (529,014)
--------
Financing Activities
Dividends paid ................................... (49,878)
Capital contributions ............................ --
Retirement of long-term debt ..................... (973)
Issuance of common stock -
Issued by Registrant ........................... 11,691
Issued by Subsidiary to Registrant ............. --
Issuance of long-term debt -
Issued by Registrant ........................... --
Issued by Subsidiary to Registrant ............. --
Issuance (Repayment) of short-term debt .......... 77,136
Other financing activities ....................... 1,753
--------
Net Financing Activities ........................... 39,729
--------
Increase in cash and temporary cash investments .... (21,096)
Cash and temporary cash investments at
beginning of year ................................. 49,836
--------
Cash and temporary cash investments at
end of year (a) ................................... 28,740
--------
Supplemental Disclosures of Cash Flow Information
Cash paid for interest ........................... 145,424
Cash paid for income taxes (net of refunds) ...... 90,672
</TABLE>
(a) 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.
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 133
F-6 (2 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 2
CNR (b) TCO CGT CLG (b) CKY Total
------- --- --- ------- --- -----
<S> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 7 for detail) 270,188 46,517 17,777
-------- ------- -------
Investment Activities
Capital expenditures ............................. (201,534) (23,952) (11,291)
Contribution - partnerships ...................... (6,476) -- --
Purchase of investment assets .................... -- -- --
Other investments - net .......................... -- -- --
-------- ------- -------
Net Investment Activities .......................... (208,010) (23,952) (11,291)
-------- ------- -------
Financing Activities
Dividends paid ................................... (72,000) (15,200) (9,285)
Capital contributions ............................ -- -- --
Retirement of long-term debt ..................... (16) -- (33)
Issuance of common stock -
Issued by Registrant ........................... -- -- --
Issued by Subsidiary to Registrant ............. -- -- --
Issuance of long-term debt -
Issued by Registrant ........................... -- -- 4,969
Issued by Subsidiary to Registrant ............. -- -- --
Issuance (Repayment) of short-term debt .......... -- -- (3,137)
Other financing activities ....................... (692) (5,679) 650
-------- ------- -------
Net Financing Activities ........................... (72,708) (20,879) (6,836)
-------- ------- -------
Increase in cash and temporary cash investments .... (10,530) 1,686 (350)
Cash and temporary cash investments at
beginning of year ................................. 39,758 1,236 878
-------- ------- -------
Cash and temporary cash investments at
end of year (a) ................................... 29,228 2,922 528
-------- ------- -------
Supplemental Disclosures of Cash Flow Information
Cash paid for interest ........................... 43,892 5,172 4,337
Cash paid for income taxes (net of refunds) ...... (22,725) 11,420 8,273
</TABLE>
(a) The Corporation considers all highly liquid short-term investments to be
cash equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 134
F-6 (3 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 3
COH CMD CPA COS CG Total
-------- ------ ------- ------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 8 for detail) 134,603 7,560 41,717 34,976
-------- ------ ------- -------
Investment Activities
Capital expenditures ............................. (63,300) (3,989) (28,652) (43,490)
Contribution - partnerships ...................... -- -- -- --
Purchase of investment assets .................... -- -- -- --
Other investments - net .......................... -- -- -- --
-------- ------ ------- -------
Net Investment Activities .......................... (63,300) (3,989) (28,652) (43,490)
-------- ------ ------- -------
Financing Activities
Dividends paid ................................... (20,509) (2,553) (24,006) --
Capital contributions ............................ -- -- -- --
Retirement of long-term debt ..................... (78) (13) (29) (620)
Issuance of common stock -
Issued by Registrant ........................... -- -- -- --
Issued by Subsidiary to Registrant ............. -- -- -- 15,000
Issuance of long-term debt -
Issued by Registrant ........................... -- -- -- 15,000
Issued by Subsidiary to Registrant ............. -- -- -- --
Issuance (Repayment) of short-term debt .......... (53,727) (948) 13,035 11,217
Other financing activities ....................... 890 (93) (2,642) 191
-------- ------ ------- -------
Net Financing Activities ........................... (73,424) (3,607) (13,642) 40,788
-------- ------ ------- -------
Increase in cash and temporary cash investments .... (2,121) (36) (577) 32,274
Cash and temporary cash investments at
beginning of year ................................. 5,806 37 1,355 649
-------- ------ ------- -------
Cash and temporary cash investments at
end of year (a) ................................... 3,685 1 778 32,923
-------- ------ ------- -------
Supplemental Disclosures of Cash Flow Information
Cash paid for interest ........................... 28,197 1,454 12,999 8,783
Cash paid for income taxes (net of refunds) ...... 37,863 975 14,045 2,252
</TABLE>
(a) The Corporation considers all highly liquid short-term investments to be
cash equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 135
F-6 (4 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 4
CS CIC CES (b) CPC TVC (b) Total
------- ------ ------- ------- ------ -------
<S> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 9 for detail) (32,082)
-------
Investment Activities
Capital expenditures ............................. (5,221)
Contribution - partnerships ...................... --
Purchase of investment assets .................... --
Other investments - net .......................... --
-------
Net Investment Activities .......................... (5,221)
-------
Financing Activities
Dividends paid ................................... (2,223)
Capital contributions ............................ --
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 ............. --
Issuance (Repayment) of short-term debt .......... 20,030
Other financing activities ....................... 1,025
-------
Net Financing Activities ........................... 18,832
-------
Increase in cash and temporary cash investments .... (18,471)
Cash and temporary cash investments at
beginning of year ................................. 18,500
-------
Cash and temporary cash investments at
end of year (a) ................................... 29
-------
Supplemental Disclosures of Cash Flow Information
Cash paid for interest ........................... 1,873
Cash paid for income taxes (net of refunds) ...... 2,113
</TABLE>
(a) The Corporation considers all highly liquid short-term investments to be
cash equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 136
F-6 (5 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 5
TCC (b) CAT CNS (b) Total
------- --- ------- -----
<S> <C> <C> <C> <C>
Net Cash From Operations (See F-6 Page 10 for detail)
Investment Activities
Capital expenditures ..............................
Contribution - partnerships .......................
Purchase of investment assets .....................
Other investments - net ...........................
Net Investment Activities ...........................
Financing Activities
Dividends paid ....................................
Capital contributions .............................
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 ..............
Issuance (Repayment) of short-term debt ...........
Other financing activities ........................
Net Financing Activities ............................
Increase in cash and temporary cash investments .....
Cash and temporary cash investments at
beginning of year ..................................
Cash and temporary cash investments at
end of year (a) ....................................
Supplemental Disclosures of Cash Flow Information
Cash paid for interest ............................
Cash paid for income taxes (net of refunds) .......
</TABLE>
(a) The Corporation considers all highly short-term investments to be cash
equivalents. Balance includes intercompany money pool balances, which are
reported as intercompany accounts receivable on the balance sheet.
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 137
F-6 (6 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
F-6 F-6 F-6 F-6 dating Consoli-
Page 7 Page 8 Page 9 Page 10 Combined Entries dated
-------- -------- -------- ------ -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ................................ 273,336
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries --
Depreciation and depletion ..................... 221,273
Deferred income taxes .......................... 29,283
Earnings from equity inv., net of distributions 2,371
Other - net .................................... 31,860
Changes in Components of working capital:
Accounts receivable ............................ (199,143)
Gas inventory .................................. 11,038
Prepayments .................................... (33,620)
Accounts payable ............................... 186,806
Accrued taxes .................................. (30,415)
Accrued interest ............................... (1,188)
Estimated rate refunds ......................... (45,515)
Estimated supplier obligations ................. (41,199)
Under/Overrecovered gas costs .................. 147,838
Exchange gas payable ........................... (11,608)
Other working capital .......................... (72,928)
--------
Net Cash From Operations ........................... 468,189
========
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 138
F-6 (7 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 7
CNR (a) TCO CGT CLG (a) CKY Total
------- -------- ------- ------ ------- --------
<S> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income ....................................... 144,093 15,328 11,639
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries -- -- --
Depreciation and depletion ..................... 81,192 23,133 6,704
Deferred income taxes .......................... 49,050 (6,347) (2,743)
Earnings from equity inv., net of distributions -- (440) --
Other - net .................................... 4,618 (2,980) (1,420)
Changes in Components of working capital:
Accounts receivable ............................ 83,629 12,067 1,568
Gas inventory .................................. -- -- 499
Prepayments .................................... 1,188 716 (4)
Accounts payable ............................... 24,211 (683) (4,790)
Accrued taxes .................................. 1,955 (1,902) 2,058
Accrued interest ............................... 305 9 (565)
Estimated rate refunds ......................... (43,101) 3,505 1,012
Estimated supplier obligations ................. (41,199) -- --
Under/Overrecovered gas costs .................. -- -- 9,911
Exchange gas payable ........................... (9,201) 2,734 (1,637)
Other working capital .......................... (26,552) 1,377 (4,455)
-------- ------- -------
Net Cash From Operations ........................... 270,188 46,517 17,777
======== ======= =======
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 139
F-6 (8 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 8
COH CMD CPA COS CG Total
-------- ------ ------- ------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ................................ 52,426 3,053 30,555 12,127
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries -- -- -- --
Depreciation and depletion ..................... 44,918 2,700 14,714 9,206
Deferred income taxes .......................... (31,182) (366) 680 (1,945)
Earnings from equity inv., net of distributions -- -- -- --
Other - net .................................... (4,629) (59) (1,715) (330)
Changes in Components of working capital:
Accounts receivable ............................ 9,041 427 1,844 (2,777)
Gas inventory .................................. (11,296) 1,379 17,235 3,221
Prepayments .................................... (5,676) (386) (414) (207)
Accounts payable ............................... 23,907 (1,553) (16,407) 7
Accrued taxes .................................. 21,547 515 (924) 4,633
Accrued interest ............................... (2,058) (1) (992) (18)
Estimated rate refunds ......................... (11,340) 153 2,100 2,156
Estimated supplier obligations ................. -- -- -- --
Under/Overrecovered gas costs .................. 129,918 2,771 146 5,092
Exchange gas payable ........................... (10,968) (139) (3,865) 2,278
Other working capital .......................... (70,005) (934) (1,240) 1,533
-------- ------ ------- -------
Net Cash From Operations ........................... 134,603 7,560 41,717 34,976
======== ====== ======= =======
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 140
F-6 (9 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 9
CS CIC CES (a) CPC TVC (a) Total
------- ------ -------- ------ ------ --------
<S> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ................................ (1,231)
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries --
Depreciation and depletion ..................... 5,476
Deferred income taxes .......................... (1,918)
Earnings from equity inv., net of distributions --
Other - net .................................... 5,685
Changes in Components of working capital:
Accounts receivable ............................ (42,095)
Gas inventory .................................. --
Prepayments .................................... (75)
Accounts payable ............................... 4,805
Accrued taxes .................................. (1,899)
Accrued interest ............................... (69)
Estimated rate refunds ......................... --
Estimated supplier obligations ................. --
Under/Overrecovered gas costs .................. --
Exchange gas payable ........................... --
Other working capital .......................... (761)
-------
Net Cash From Operations ........................... (32,082)
=======
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 141
F-6 (10 of 10)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6 Page 10
TCC (a) CAT CNS (a) Total
------- --- ------- -----
<S> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ...................................
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries...
Depreciation and depletion ........................
Deferred income taxes .............................
Earnings from equity inv., net of distributions....
Other - net .......................................
Changes in Components of working capital:
Accounts receivable ...............................
Gas inventory .....................................
Prepayments .......................................
Accounts payable ..................................
Accrued taxes .....................................
Accrued interest ..................................
Estimated rate refunds ............................
Estimated supplier obligations ....................
Under/Overrecovered gas costs .....................
Exchange gas payable ..............................
Other working capital .............................
Net Cash From Operations ..............................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 142
F-6A (1 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6A F-6A Consolidating TVC
Page 2 Page 3 Combined Entries Consolidated
------ ------ -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6A Page 4 for detail)..
Investment Activities
Capital expenditures ................................
Contribution - partnerships .........................
Purchase of investment assets .......................
Other investments - net .............................
Net Investment Activities .............................
Financing Activities
Dividends paid ......................................
Capital contributions ...............................
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 ................
Issuance (Repayment) of short-term debt .............
Other financing activities ..........................
Net Financing Activities ..............................
Increase in cash and temporary cash investments .......
Cash and temporary cash investments at
beginning of year ....................................
Cash and temporary cash investments at
end of year (a) ......................................
Supplemental Disclosures of Cash Flow Information
Cash paid for interest .............................
Cash paid for income tax (net of refunds) ..........
</TABLE>
(a) 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.
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 143
F-6A (2 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6A Page 2
BGC BLC GGC GLC PGC PLC TVC Total
--- --- --- --- --- --- --- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6A Page 5 for detail)..
Investment Activities
Capital expenditures ................................
Contribution - partnerships .........................
Purchase of investment assets .......................
Other investments - net .............................
Net Investment Activities .............................
Financing Activities
Dividends paid ......................................
Capital contributions ...............................
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 ................
Issuance (Repayment) of short-term debt .............
Other financing activities ..........................
Net Financing Activities ..............................
Increase in cash and temporary cash investments .......
Cash and temporary cash investments at
beginning of year ....................................
Cash and temporary cash investments at
end of year (a) ......................................
Supplemental Disclosures of Cash Flow Information
Cash paid for interest .............................
Cash paid for income tax (net of refunds) ..........
</TABLE>
(a) 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.
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 144
F-6A (3 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6A Page 3
VGC VLC RL FC TVC9 TVC10 Total
--- --- -- -- ---- ----- -----
<S> <C> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (See F-6A Page 6 for detail)..
Investment Activities
Capital expenditures ................................
Contribution - partnerships .........................
Purchase of investment assets .......................
Other investments - net .............................
Net Investment Activities .............................
Financing Activities
Dividends paid ......................................
Capital contributions ...............................
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 ................
Issuance (Repayment) of short-term debt .............
Other financing activities ..........................
Net Financing Activities ..............................
Increase in cash and temporary cash investments .......
Cash and temporary cash investments at
beginning of year ....................................
Cash and temporary cash investments at
end of year (a) ......................................
Supplemental Disclosures of Cash Flow Information
Cash paid for interest .............................
Cash paid for income tax (net of refunds) ..........
</TABLE>
(a) 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.
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 145
F-6A (4 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6A F-6A Consolidating TVC
Page 5 Page 6 Combined Entries Consolidated
------ ------ -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ...................................
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries...
Depreciation and depletion ........................
Deferred income taxes .............................
Earnings from equity inv., net of distributions....
Other - net .......................................
Changes in Components of working capital:
Accounts receivable ...............................
Gas inventory .....................................
Prepayments .......................................
Accounts payable ..................................
Accrued taxes .....................................
Accrued interest ..................................
Estimated rate refunds ............................
Estimated supplier obligations ....................
Under/Overrecovered gas costs .....................
Exchange gas payable ..............................
Other working capital .............................
Net Cash From Operations ..............................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 146
F-6A (5 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6A Page 5
BGC BLC GGC GLC PGC PLC TVC Total
--- --- --- --- --- --- --- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ..................................
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries..
Depreciation and depletion .......................
Deferred income taxes ............................
Earnings from equity inv., net of distributions...
Other - net ......................................
Changes in Components of working capital:
Accounts receivable ..............................
Gas inventory ....................................
Prepayments ......................................
Accounts payable .................................
Accrued taxes ....................................
Accrued interest .................................
Estimated rate refunds ...........................
Estimated supplier obligations ...................
Under/Overrecovered gas costs ....................
Exchange gas payable .............................
Other working capital ............................
Net Cash From Operations .............................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 147
F-6A (6 of 6)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Electric Corporation and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
F-6A Page 6
VGC VLC RL FC TVC9 TVC10 Total
--- --- -- -- ---- ----- -----
<S> <C> <C> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ..................................
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries..
Depreciation and depletion .......................
Deferred income taxes ............................
Earnings from equity inv., net of distributions...
Other - net ......................................
Changes in Components of working capital:
Accounts receivable ..............................
Gas inventory ....................................
Prepayments ......................................
Accounts payable .................................
Accrued taxes ....................................
Accrued interest .................................
Estimated rate refunds ...........................
Estimated supplier obligations ...................
Under/Overrecovered gas costs ....................
Exchange gas payable .............................
Other working capital ............................
Net Cash From Operations .............................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 148
F-6B (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(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>
Net Cash From Operations (refer to F-6B (2 of 2))..
Investment Activities
Capital expenditures ............................
Contribution - partnerships .....................
Purchase of investment assets ...................
Other investments - net .........................
Net Investment Activities .........................
Financing Activities
Dividends paid ..................................
Capital contributions ...........................
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 ............
Issuance (Repayment) of short-term debt .........
Other financing activities ......................
Net Financing Activities ..........................
Increase in cash and temporary cash investments ...
Cash and temporary cash investments at
beginning of year ................................
Cash and temporary cash investments at
end of year (a) ..................................
Supplemental Disclosures of Cash Flow Information
Cash paid for interest ..........................
Cash paid for income taxes (net of refunds) .....
</TABLE>
(a) 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.
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 149
F-6B (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Tristar Capital Corporation and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(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>
Net Income Reconciliation
Net income (loss) ...................................
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries...
Depreciation and depletion ........................
Deferred income taxes .............................
Earnings from equity inv., net of distributions....
Other - net .......................................
Changes in Components of working capital:
Accounts receivable ...............................
Gas inventory .....................................
Prepayments .......................................
Accounts payable ..................................
Accrued taxes .....................................
Accrued interest ..................................
Estimated rate refunds ............................
Estimated supplier obligations ....................
Under/Overrecovered gas costs .....................
Exchange gas payable ..............................
Other working capital .............................
Net Cash From Operations ..............................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 150
F-6C (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(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>
Net Cash From Operations (refer to F-6C (2 of 2))
Investment Activities
Capital expenditures
Contribution - partnerships
Purchase of investment assets
Other investments - net
Net Investment Activities
Financing Activities
Dividends paid
Capital contributions
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
Issuance (Repayment) of short-term debt
Other financing activities
Net Financing Activities
Increase in cash and temporary cash investments
Cash and temporary cash investments at
beginning of year
Cash and temporary cash investments at
end of year (a)
Supplemental Disclosures of Cash Flow Information
Cash paid for interest
Cash paid for income taxes (net of refunds)
</TABLE>
(a) 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
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 151
F-6C (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia LNG Corporation and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(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>
Net Income Reconciliation
Net income (loss) ...................................
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries...
Depreciation and depletion ........................
Deferred income taxes .............................
Earnings from equity inv, net of distributions ....
Other - net .......................................
Changes in Components of working capital:
Accounts receivable ...............................
Gas inventory .....................................
Prepayments .......................................
Accounts payable ..................................
Accrued taxes .....................................
Accrued interest ..................................
Estimated rate refunds ............................
Estimated supplier obligations ....................
Under/Overrecovered gas costs .....................
Exchange gas payable ..............................
Other working capital .............................
Net Cash From Operations ..............................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 152
F-6D (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Statement of Cash Flows as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CES
CEM CPM CSP CES Combined Entries Consolidated
--- --- --- --- -------- ------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
Net Cash From Operations (refer to F-6D (2 of 2))..
Investment Activities
Capital expenditures ............................
Contribution - partnerships .....................
Purchase of investment assets ...................
Other investments - net .........................
Net Investment Activities .........................
Financing Activities
Dividends paid ..................................
Capital contributions ...........................
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 ............
Issuance (Repayment) of short-term debt .........
Other financing activities ......................
Net Financing Activities ..........................
Increase in cash and temporary cash investments....
Cash and temporary cash investments at
beginning of year ................................
Cash and temporary cash investments at
end of year (a) .................................
Supplemental Disclosures of Cash Flow Information
Cash paid for interest ..........................
Cash paid for income taxes (net of refunds) .....
</TABLE>
(a) 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.
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 153
F-6D (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Energy Services Corporation and Subsidiaries
Consolidating Statement of Cash Flows as of December 31, 1997
(Not covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CEM CPM CSP CES
--- --- --- ---
Net Income Reconciliation
<S> <C> <C> <C> <C>
Net income (loss) ..................................
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries..
Depreciation and depletion .......................
Deferred income taxes ............................
Earnings from equity inv., net of distributions...
Other - net ......................................
Changes in Components of working capital:
Accounts receivable ..............................
Gas inventory ....................................
Prepayments ......................................
Accounts payable .................................
Accrued taxes ....................................
Accrued interest .................................
Estimated rate refunds ...........................
Estimated supplier obligations ...................
Under/Overrecovered gas costs ....................
Exchange gas payable .............................
Other working capital ............................
Net Cash From Operations .............................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<TABLE>
<CAPTION>
Consoli-
dating CES
Combined Entries Consolidated
-------- ------- ------------
<S> <C> <C> <C>
Net income (loss) ..................................
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries..
Depreciation and depletion .......................
Deferred income taxes ............................
Earnings from equity inv., net of distributions...
Other - net ......................................
Changes in Components of working capital:
Accounts receivable ..............................
Gas inventory ....................................
Prepayments ......................................
Accounts payable .................................
Accrued taxes ....................................
Accrued interest .................................
Estimated rate refunds ...........................
Estimated supplier obligations ...................
Under/Overrecovered gas costs ....................
Exchange gas payable .............................
Other working capital ............................
Net Cash From Operations .............................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 154
F-6E (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
CMC CNS Combined
--- --- --------
<S> <C> <C> <C>
Net Cash From Operations (refer to F-6E (2 of 2)) .......................
Investment Activities
Capital expenditures ..................................................
Contribution - partnerships ...........................................
Purchase of investment assets .........................................
Other investments - net ...............................................
Net Investment Activities ...............................................
Financing Activities
Dividends paid ........................................................
Capital contributions .................................................
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 ..................................
Issuance (Repayment) of short-term debt ...............................
Other financing activities ............................................
Net Financing Activities ................................................
Increase in cash and temporary cash investments .........................
Cash and temporary cash investments at
beginning of year ......................................................
Cash and temporary cash investments at
end of year (a) .......................................................
Supplemental Disclosures of Cash Flow Information
Cash paid for interest ................................................
Cash paid for income taxes (net of refunds) ...........................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<TABLE>
<CAPTION>
Consoli-
dating CNS
Entries Consolidated
------- ------------
<S> <C> <C>
Net Cash From Operations (refer to F-6E (2 of 2)) .......................
Investment Activities
Capital expenditures ..................................................
Contribution - partnerships ...........................................
Purchase of investment assets .........................................
Other investments - net ...............................................
Net Investment Activities ...............................................
Financing Activities
Dividends paid ........................................................
Capital contributions .................................................
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 ..................................
Issuance (Repayment) of short-term debt ...............................
Other financing activities ............................................
Net Financing Activities ................................................
Increase in cash and temporary cash investments .........................
Cash and temporary cash investments at
beginning of year ......................................................
Cash and temporary cash investments at
end of year (a) .......................................................
Supplemental Disclosures of Cash Flow Information
Cash paid for interest ................................................
Cash paid for income taxes (net of refunds) ...........................
</TABLE>
(a) 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.
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 155
F-6E (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Network Services Corporation and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CNS
CMC CNS Combined Entries Consolidated
--- --- -------- ------- ------------
<S> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ..................................
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries..
Depreciation and depletion .......................
Deferred income taxes ............................
Earnings from equity inv, net of distributions....
Other - net ......................................
Changes in Components of working capital:
Accounts receivable ..............................
Gas inventory ....................................
Prepayments ......................................
Accounts payable .................................
Accrued taxes ....................................
Accrued interest .................................
Estimated rate refunds ...........................
Estimated supplier obligations ...................
Under/Overrecovered gas costs ....................
Exchange gas payable .............................
Other working capital ............................
Net Cash From Operations .............................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 156
F-6F (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Natural Resources, Inc. and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CNR
CNR Alamco Combined Entries Consolidated
--- ------ -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Net Cash From Operations (refer to F-6C (2 of 2)) ........
Investment Activities
Capital expenditures ...................................
Contribution - partnerships ............................
Purchase of investment assets ..........................
Other investments - net ................................
Net Investment Activities ................................
Financing Activities
Dividends paid .........................................
Capital contributions ..................................
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 ...................
Issuance (Repayment) of short-term debt ................
Other financing activities .............................
Net Financing Activities .................................
Increase (Decrease) in cash and temporary cash investments
Cash and temporary cash investments at
beginning of year .......................................
Cash and temporary cash investments at
end of year (a) .........................................
Supplemental Disclosures of Cash Flow Information
Cash paid for interest .................................
Cash paid for income taxes (net of refunds) ............
</TABLE>
(a) 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.
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 157
F-6F (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Columbia Natural Resources, Inc. and Subsidiary
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Consoli-
dating CNR
CNR Alamco Combined Entries Consolidated
--- ------ -------- ------- ------------
<S> <C> <C> <C> <C> <C>
Net Income Reconciliation
Net income (loss) .......................................
Items not requiring (providing) cash:
Equity in undistributed earnings of subsidiaries ......
Depreciation and depletion ............................
Deferred income taxes .................................
Earnings from equity inv., net of distributions .......
Other - net ...........................................
Changes in Components of working capital:
Accounts receivable ...................................
Prepayments ...........................................
Accounts payable ......................................
Accrued taxes .........................................
Accrued interest ......................................
Estimated rate refunds ................................
Estimated supplier obligations ........................
Under/Overrecovered gas costs .........................
Exchange gas payable ..................................
Other working capital .................................
Net Cash From Operations ..................................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 158
F-6G (1 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Alamco, Inc. and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Alamco Hawg Hauling Alamco - Deleware
------ ------------ -----------------
<S> <C> <C> <C>
Net Cash From Operations (refer to F-6C (2 of 2)) ............
Investment Activities
Capital expenditures .......................................
Contribution - partnerships ................................
Purchase of investment assets ..............................
Other investments - net ....................................
Net Investment Activities ....................................
Financing Activities
Intercompany dividends paid ................................
Capital contributions ......................................
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 .......................
Issuance (Repayment) of short-term debt ....................
Other financing activities .................................
Net financing activities .....................................
Increase (Decrease) in cash and temporary cash investments ..
Cash and temporary cash investments at
beginning of year ...........................................
Cash and temporary cash investments at
end of year (a) .............................................
Supplemental Disclosures of Cash Flow Information
Cash paid for interest .....................................
Cash paid for income taxes (net of refunds) ................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<TABLE>
<CAPTION>
Consoli-
dating Alamco
Combined Entries Consolidated
-------- ------- ------------
<S> <C> <C> <C>
Net Cash From Operations (refer to F-6C (2 of 2)) ............
Investment Activities
Capital expenditures .......................................
Contribution - partnerships ................................
Purchase of investment assets ..............................
Other investments - net ....................................
Net Investment Activities ....................................
Financing Activities
Intercompany dividends paid ................................
Capital contributions ......................................
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 .......................
Issuance (Repayment) of short-term debt ....................
Other financing activities .................................
Net financing activities .....................................
Increase (Decrease) in cash and temporary cash investments ..
Cash and temporary cash investments at
beginning of year ...........................................
Cash and temporary cash investments at
end of year (a) .............................................
Supplemental Disclosures of Cash Flow Information
Cash paid for interest .....................................
Cash paid for income taxes (net of refunds) ................
</TABLE>
(a) 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.
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 159
F-6G (2 of 2)
COLUMBIA ENERGY GROUP AND SUBSIDIARIES
Alamco, Inc. and Subsidiaries
Consolidating Statement of Cash Flows
Year Ended December 31, 1997
(Not Covered by Report of Independent Public Accountants)
($ Thousands)
<TABLE>
<CAPTION>
Alamco Hawg Hauling Alamco - Deleware
------ ------------ -----------------
<S> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ..................................
Items not requiring (providing) cash: ..............
Equity in undistributed earnings of subsidiaries..
Depreciation and depletion .......................
Deferred income taxes ............................
Loss (Gain) on Sale of facilities ................
Earnings from equity inv., net of distributions...
Other - net ......................................
Changes in Components of working capital:
Accounts receivable, net - Customers .............
Accounts receivable, net - Intercompany ..........
Accounts receivable, net - Other .................
Other inventories at average cost ................
Prepayments ......................................
Accounts payable .................................
Accounts payable - intercompany...................
Accrued taxes ....................................
Accrued interest .................................
Estimated rate refunds ...........................
Estimated supplier obligations ...................
Under/Overrecovered gas costs ....................
Exchange gas payable .............................
Other working capital ............................
Net Cash From Operations .............................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<TABLE>
<CAPTION>
Consoli-
dating Alamco
Combined Entries Consolidated
-------- -------- ------------
<S> <C> <C> <C>
Net Income Reconciliation
Net income (loss) ..................................
Items not requiring (providing) cash: ..............
Equity in undistributed earnings of subsidiaries..
Depreciation and depletion .......................
Deferred income taxes ............................
Loss (Gain) on Sale of facilities ................
Earnings from equity inv., net of distributions...
Other - net ......................................
Changes in Components of working capital:
Accounts receivable, net - Customers .............
Accounts receivable, net - Intercompany ..........
Accounts receivable, net - Other .................
Other inventories at average cost ................
Prepayments ......................................
Accounts payable .................................
Accounts payable - intercompany...................
Accrued taxes ....................................
Accrued interest .................................
Estimated rate refunds ...........................
Estimated supplier obligations ...................
Under/Overrecovered gas costs ....................
Exchange gas payable .............................
Other working capital ............................
Net Cash From Operations .............................
</TABLE>
CONFIDENTIAL TREATMENT REQUESTED
<PAGE> 160
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.
COLUMBIA ENERGY GROUP
By: /s/ J.W. GROSSMAN
----------------------------------------
J. W. Grossman
Vice President and Controller
Date: April 30, 1998
52
<PAGE> 161
Item 10.Continued
Exhibits filed as a part of this Report:
A - Securities Exchange 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 1997 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
53
<PAGE> 162
EXHIBIT A
The financial statements listed below included in Columbia Energy
Group's 1997 Form 10-K filed with the Commission on March 18, 1998
(File No. 1-1098) are incorporated herein by reference. The report of
Arthur Andersen LLP, independent public accountants, dated January 23,
1998 regarding such financial statements is included on Exhibit F filed
herewith. The Corporation's 1997 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, 1997.............. 39
Consolidated Balance Sheet as of December 31, 1997 ................................. 40-41
Consolidated Statement of Cash Flows for the year ended December 31, 1997........... 42
Statement of Consolidated Common Stock Equity for the year ended December 31, 1997.. 43
Notes to Consolidated Financial Statements ......................................... 44-63
</TABLE>
54
<PAGE> 163
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>
Columbia Energy Group........................................... 1-A (1) (2)
Atlantic Energy, Inc............................................ (3) (4)
Columbia Atlantic Trading Corporation .......................... 2-A (5) (6)
Columbia Coal Gasification Corporation.......................... (7) (8)
Columbia Energy Services Corporation. .......................... (9) (10)
Columbia Energy Marketing Corporation ....................... (11) (12)
Columbia Energy Power Marketing Corporation.................. 3-A, 4-A (13) 1-B (14)
Columbia Service Partners, Inc.............................. (15) (16)
Columbia Gas Development Corporation............................ (17) (18)
Columbia Gas of Kentucky, Inc................................... (19) 2-B (20)
Columbia Gas of Maryland, Inc................................... (21) 3-B, 4-B (22)
Columbia Gas of Ohio, Inc. ..................................... (23) 5-B (24)
Columbia Gas of Pennsylvania, Inc. ............................. (25) 6-B (26)
Columbia Energy Group Service Corporation ...................... 5-A (27) 7-B (28)
Columbia Gas Transmission Corporation........................... 6-A, 7-A (29) (30)
Columbia Transmission Investment Corporation ................. (31) (32)
Columbia Gulf Transmission Company ............................. 8-A (33) (34)
Columbia Insurance Corporation, Ltd............................. (35) (36)
Columbia LNG Corporation ....................................... 9-A (37) (38)
CLNG Corporation.............................................. (39) (40)
Columbia Natural Resources, Inc................................. (41) (42)
Alamco, Inc................................................... 10-A (43) 8-B (44)
Alamco-Delaware, Inc............................................ 11-A (45) 9-B (46)
Hawg Hauling & Disposal, Inc.................................... 12-A (47) 10-B (48)
Columbia Networks Services Corporation.......................... (49) (50)
CNS Microwave, Inc........................................... (51) (52)
Energy Net L.L.C............................................. 13-A(53) 11-B(54)
Columbia Propane Corporation.................................... 14-A, 15-A (55) 12-B (56)
Columbia Gas of Virginia, Inc................................... 16-A (57) 13-B (58)
Commonwealth Propane, Inc. ..................................... (59) (60)
Inland Gas Company, Inc., The .................................. (61) (62)
TriStar Capital Corporation .................................... 17-A (63) (64)
TriStar Gas Technologies, Inc. ............................... (65) (66)
TriStar Trading Inc. ........................................... (67) (68)
Columbia Electric Corporation................................... 18-A, 19-A (69) (70)
TriStar Pedrick General Corporation........................... (71) (72)
TriStar Pedrick Limited Corporation .......................... (73) (74)
TriStar Fuel Cells Corporation ............................... (75) (76)
TriStar Binghamton General Corporation ....................... (77) (78)
TriStar Binghamton Limited Corporation ....................... (79) (80)
TriStar Georgetown General Corporation ....................... (81) (82)
TriStar Georgetown Limited Corporation ....................... (83) (84)
TriStar Vineland General Corporation.......................... (85) (86)
</TABLE>
55
<PAGE> 164
<TABLE>
<S> <C> <C>
TriStar Vineland Limited Corporation.......................... (87) (88)
TriStar Rumford Limited Corporation........................... (89) (90)
TVC Nine Corporation ......................................... (91) (92)
TVC Ten Corporation .......................................... (93) (94)
</TABLE>
56
<PAGE> 165
EXHIBIT B (Continued)
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); restated copy as of
November 28, 1995, filed pursuant to Item 14 of Form 10-K
(1995); Certificate of Amendment of Certificate of
Incorporation of Columbia Energy Group, dated January 16,
1998, filed herewith as Exhibit 1-A to Form U5S (1997).
(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).
(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); amendment
dated April 17, 1995, filed herewith as Exhibit 1-B to form
U5S (1996).
(5) CAT Restated Certificate of Incorporation as filed on February
27, 1989, filed as Exhibit 2-A to Form U5S (1988); amendment
dated August 18, 1997, filed herewith as Exhibit 2-A to Form
U5S (1997).
(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 as Exhibit 2-B to Form U5S (1993).
(11) Certificate of Incorporation of Columbia Energy Marketing
Corporation dated August 3, 1995, filed as Exhibit 1-A to Form
U5S (1995).
(12) By-Laws of Columbia Energy Marketing Corporation dated August
3, 1995, filed as Exhibit 1-B to Form U5S (1995).
(13) Certificate of Incorporation of Columbia Power Marketing
Corporation dated June 19, 1997 filed herewith as Exhibit 3-A
and amendment changing name to Columbia Energy Power Marketing
Corporation dated March 2, 1998, filed herewith as Exhibit 4-A
to Form U5S (1997).
(14) By laws of Columbia Power Marketing Corporation as adopted
June 23, 1997 filed herewith as Exhibit 1-B to Form U5S
(1997).
57
<PAGE> 166
(15) Certificate of Incorporation of Columbia Service Partners,
Inc. dated March 21, 1996 file herewith as Exhibit 1-A to Form
U5S (1996).
(16) By laws of Columbia Service Partners, Inc. as adopted April
17, 1996 file herewith as Exhibit 2-B to Form U5S (1996).
(17) 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).
(18) 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).
(19) 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 2-A to
Form U5S (1988); amendment dated March 13, 1995, filed as
Exhibit 2-A to Form U5S (1995); amendment dated February 15,
1995, filed as Exhibit 3-A to Form U5S (1995); amendment dated
January 12, 1996, filed as Exhibit 4-A to Form U5S (1995).
(20) 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); amendment dated January 9,
1996 filed as Exhibit 2-B to Form U5S (1995); amendment dated
November 1, 1997, filed herewith as Exhibit 2-B to Form U5S
(1997).
(21) 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 5A to Form U5S (1995).
(22) 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); amendment
dated January 9, 1996 filed as Exhibit 3-B to Form U5S (1995);
amendment dated June 30, 1997, to be filed later
electronically as Exhibit 3-B and amendment dated November 1,
1997, filed herewith as Exhibit 4-B to Form U5S (1997).
58
<PAGE> 167
(23) 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); amendment dated
February 16, 1995, filed as exhibit 6-A to Form U5S (1995).
(24) 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); amendment dated January 9, 1996, filed
as Exhibit 4-B to Form U5S (1995); amendment dated November 1,
1997, filed herewith as Exhibit 5-B to Form U5S (1997).
(25) 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);
amendment dated February 15, 1995, filed as Exhibit 7-A to
Form U5S (1995).
(26) 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); amendment
dated January 9, 1996, filed as Exhibit 5-B to Form U5S
(1995); amendment dated November 1, 1997, filed herewith as
Exhibit 6-B to Form U5S (1997).
(27) Certificate of Incorporation, as amended through May 17, 1991,
filed as Exhibit 3-A to Form U5S (1991); amendment dated June
30, 1997, filed herewith to be filed later electronically
as Exhibit 5-A to Form U5S (1997).
(28) By-Laws, as amended February 10, 1988, filed as Exhibit 8-B to
Form U5S (1988); amendment dated December 29, 1997, filed
herewith as Exhibit 7-B to Form U5S (1997).
(29) 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); amendment dated November 28, 1995,
to be filed later electronically as Exhibit 6-A and
amendment dated June 30, 1997,
filed herewith as Exhibit 7-A to Form U5S (1997).
(30) By-Laws of Columbia Gas Transmission Corporation as amended
through May 9, 1991, filed as Exhibit 1-B to Form U5S (1991);
amendment dated January 17, 1996, file herewith as Exhibit 3-B
to Form U5S (1996).
(31) Certificate of Incorporation as adopted March 18, 1992, filed
as Exhibit 4-A to Form U5S (1991).
(32) By-Laws as of March 18, 1992, filed as Exhibit 4-B to Form U5S
(1991).
(33) 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 as Exhibit 2-A to Form U5S (1994);
amendment dated June 30,
59
<PAGE> 168
1997, to be filed later electronically
as Exhibit 8-A to Form U5S (1997).
(34) By-Laws of Columbia Gulf Transmission Company as amended
through May 9, 1991, filed as Exhibit 2-B to Form U5S
(1991);amendment dated January 17, 1996, file herewith as
Exhibit 4B to Form U5S (1996).
(35) Certificate of Incorporation of Columbia Insurance
Corporation, Ltd. dated November 1, 1996, filed herewith as
Exhibit 2-A to Form U5S (1996).
(36) By-laws of Columbia Insurance Corporation, Ltd. as adopted
November 4, 1996, file herewith as Exhibit 5-B to Form U5S
(1996).
(37) 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 as
Exhibits 3-A-1, 3-A-2, 3-A-3 and 3-A-4, respectively to Form
U5S; amendment dated January 15, 1997,
to be filed later electronically as
Exhibit 9-A to Form U5S (1997).
(38) 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 as Exhibit 1-B to Form
U5S (1994); amendment dated October 17, 1995 and amendment
dated June 1, 1996, filed herewith as Exhibits 6B and 7B to
Form U5S (1996).
(39) Certificate of Incorporation of CLNG Corporation as adopted
January 21, 1994, filed as Exhibit 4-A to Form U5S (1994).
(40) By-Laws of CLNG Corporation as amended through December 21,
1994 filed as Exhibit -B to Form U5S (1994).
(41) Certificate of Incorporation of Columbia Natural Resources,
Inc. adopted on November 21, 1984, filed as Exhibit 4-A to
Form U5S (1984).
(42) By-Laws as of November 26, 1984, filed as Exhibit 2-B to Form
U5S (1984).
(43) Amended and Restated Certificate of Incorporation of Alamco,
Inc. dated August 7, 1997, to be filed later electronically
as exhibit 10-A to
Form U5S (1997).
(44) Amended and Restated Bylaws of Alamco, Inc. as adopted August
7, 1997, to be filed later electronically as Exhibit 8-B to
Form U5S (1997).
(45) Certificate of Incorporation of Alamco-Delaware dated July 21,
1994, filed herewith as Exhibit 11-A to Form USS (1997),
to be filed later electronically.
(46) By-Laws of Alamco-Delaware (to be filed).
(47) Certificate of Incorporation of Hawg Hauling & Disposal, Inc.
dated March 17, 1993, filed herewith as Exhibit 12-A to Form
U5S (1997), to be filed later electronically.
(48) By-Laws of Hawg Hauling & Disposal, Inc. dated March 17, 1993,
to be filed later electronically as Exhibit 10-B to
Form USS (1997).
60
<PAGE> 169
(49) Certificate of Incorporation of Columbia Network Services
Corporation dated June 7, 1996, filed herewith as Exhibit 3-A
Form U5S (1996).
(50) By-Laws of Columbia Network Services Corporation as adopted
August 29, 1996, filed herewith as Exhibit 8-B to Form U5S
(1996).
(51) Certificate of Incorporation of CNS Microwave Inc., dated
October 15, 1996, filed herewith as Exhibit -A to Form U5S
(1996).
(52) By-Laws of CNS Microwave, Inc. as adopted October 25, 1996,
filed herewith as Exhibit 9-B to Form U5S (1996).
(53) Certificate Formation of EnergyNet, L.L.C., dated June 13,
1997, to be filed later electronically as Exhibit 13-A to
Form U5S (1997).
(54) By-Laws of EnergyNet, L.L.C., dated June 13, 1997, filed
herewith as Exhibit 9-B to Form U5S (1997).
(55) 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); Certificate
of Merger of CPI with and into CPC dated October 1, 1997,
filed herewith as Exhibit 14-A and amendment dated October 1,
1997, filed herewith as Exhibit 15-A to Form U5S (1997).
(56) 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); amendment dated October 1,
1997, filed as Exhibit 12-B to Form U5S (1997).
(57) 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);
amendment dated February 15, 1995, filed as Exhibit 8-A to
Form U5S (1995); amendment dated January 16, 1998, to be
filed later electronically as
Exhibit 16-A to Form U5S (1997).
(58) 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);amendment dated November 1, 1997, filed
herewith as Exhibit 13-B to Form U5S (1997).
(59) 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
61
<PAGE> 170
(1988).
(60) By-Laws of Commonwealth Propane, Inc. as amended through July
16, 1990, filed as Exhibit 2-B to Form U5S (1990).
(61) Articles of Incorporation as adopted June 3, 1960, filed as
Exhibit 3-A to Form U5S (1965).
(62) By-Laws of Inland Gas Company, Inc. as amended through May 8,
1990, filed as Exhibit 3-B to Form U5S (1990).
(63) Certificate of Incorporation of TriStar Capital Corporation
dated August 2, 1990, filed as Exhibit 2-A to Form U5S (1990);
amendment dated June 30, 1997, filed herewith as Exhibit 17-A
to Form U5S (1997).
(64) By-Laws of TriStar Capital Corporation dated August 2, 1990,
filed as Exhibit 4-B to Form U5S (1990).
(65) Certificate of Incorporation of TriStar Gas Technologies, Inc.
dated August 2, 1990, filed as Exhibit 3-A to Form U5S (1990).
(66) By-Laws of TriStar Gas Technologies, Inc. dated August 2,
1990, filed as Exhibit 5-B to Form U5S (1990).
(67) Certificate of Incorporation of TriStar Trading Inc. dated
April 27, 1990, filed as Exhibit 4-A to Form U5S (1990).
(68) By-Laws of TriStar Trading Inc. dated April 27, 1990, filed as
Exhibit 6-B to Form U5S (1990).
(69) Restated Certificate of Incorporation of TriStar Ventures
Corporation as of July 22, 1986, filed as Exhibit 2-A to Form
U5S (1986); amendment dated June 1, 1997, to be filed later
electronically
dated January 16, 1998, filed
herewith as Exhibit 19-A to form U5S (1997).
(70) 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).
(71) 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).
(72) 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).
(73) 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).
(74) 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).
62
<PAGE> 171
(75) 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).
(76) 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).
(77) 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).
(78) 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).
(79) 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).
(80) 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).
(81) 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).
(82) 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).
(83) 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).
(84) 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).
(85) 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).
(86) 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).
(87) 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).
(88) 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).
63
<PAGE> 172
(89) 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).
(90) 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).
(91) Certificate of Incorporation of TVC Nine Corporation dated
December 28, 1989, filed as Exhibit 14-A to Form U5S (1989).
(92) By-Laws of TVC Nine Corporation dated December 28, 1989, filed
as Exhibit 24-B to Form U5S (1989).
(93) Certificate of Incorporation of TVC Ten Corporation dated
December 28, 1989, filed as Exhibit 15-A to Form U5S (1989).
(94) By-Laws of TVC Ten Corporation dated December 28, 1989, filed
as Exhibit 25-B to Form U5S (1989).
64
<PAGE> 173
EXHIBIT C
(a) *Reference is made to Columbia Energy Group's 1997 Form 10- K, pages 73
through 75, filed with the Commission on March 18, 1998 (File No.
1-1098), for the indentures and other fundamental documents defining
the rights of security holders.
*Incorporated herein by reference.
65
<PAGE> 174
EXHIBIT D
A copy of the System Tax Allocation Agreement (Agreement) is filed
herewith as Exhibit D to Form U5S (1997).
66
<PAGE> 175
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 1996.
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.
67
<PAGE> 176
EXHIBIT F
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
TO COLUMBIA ENERGY GROUP:
We have audited the accompanying consolidated balance sheets of Columbia Energy
Group (a Delaware corporation, the "Corporation") and subsidiaries as of
December 31, 1997 and 1996, and the related statements of consolidated income,
cash flows and common stock equity for each of the three years in period ended
December 31, 1997. 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, 1997 and 1996, and the results of their
operations and their cash flows for the year then ended in conformity with
generally accepted accounting principles.
Our audits were made for the purposes of forming an opinion on the basic
consolidated financial statements taken as a whole. The schedule listed in the
Index to Item 8, Financial Statements and Supplementary Data, is presented for
purposes of complying with the Securities and Exchange Commission's rules and is
not part of the basic consolidated financial statements. This schedule has been
subjected to the auditing procedures applied in the audits of the basic
consolidated financial statements and, in our opinion, fairly states in all
material respects the financial data required to be set forth therein in
relation to the basic consolidated financial statements taken as a whole.
ARTHUR ANDERSEN LLP.
New York, New York
January 23, 1998
68
<PAGE> 177
EXHIBIT G
Financial Data Tables are filed herewith as Exhibit 27.
69
<PAGE> 178
EXHIBIT H
Not Applicable
70
<PAGE> 179
EXHIBIT I
Not Applicable
71
<PAGE> 180
COLUMBIA ENERGY GROUP
FORM U5S ANNUAL REPORT
FOR THE YEAR ENDED DECEMBER 31, 1997
EXHIBITS
Exhibit 1-A: Certificate of Amendment of Certificate of Incorporation of
Columbia Energy Group dated January 16, 1998.
Exhibit 2-A: Certificate of Amendment of Certificate of Incorporation of
Columbia Atlantic Trading Corporation dated August 18, 1997.
Exhibit 3-A: Certificate of Incorporation of Columbia Power Marketing
Corporation dated June 19, 1997.
Exhibit 4-A: Certificate of Amendment of Certificate of Incorporation of
Columbia Power Marketing Corporation dated March 2, 1998.
Exhibit 1-B: By-Laws of Columbia Power Marketing Corporation dated June
23, 1997.
Exhibit 2-B: Amendment of the By-Laws of Columbia Gas of Kentucky adopted
November 1, 1997.
Exhibit 3-B: Amendment of the By-Laws of Columbia Gas of Maryland, Inc.
as adopted June 30, 1997.
Exhibit 4-B: Amendment of the By-Laws of Columbia Gas of Maryland, Inc.
as adopted November 1, 1997.
Exhibit 5-B: Amendment of the By-Laws of Columbia Gas of Ohio, Inc. as
adopted November 1, 1997.
Exhibit 6-B: Amendment of the By-Laws of Columbia Gas of Pennsylvania,
Inc. as adopted November 1, 1997.
Exhibit 5-A: Certificate of Amendment of Restated Certificate of
Incorporation of Columbia Gas System Service Corporation dated
June 30, 1997.
Exhibit 7-B: Amendment of the By-Laws of Columbia Energy Group Service
Corporation as adopted December 29, 1997.
Exhibit 6-A: Amended and Restated Certificate of Incorporation of
Columbia Gas Transmission Corporation dated November 28, 1995.
<PAGE> 181
Exhibit 7-A: Certificate of Amendment of Restated Certificate of
Incorporation of Columbia Gas Transmission Corporation dated
June 30, 1997.
Exhibit 8-A: Certificate of Amendment of Certificate of Incorporation of
Columbia Gulf Transmission Company dated June 30, 1997.
Exhibit 9-A: Certificate of Amendment of Certificate of Incorporation
CLNG Corporation dated January 15, 1997.
Exhibit 10-A: Amended and Restated Certificate of Incorporation of
ALAMCO, Inc. dated August 7, 1997.
Exhibit 8-B: Amended and Restated By-Laws of ALAMCO, Inc. as adopted
August 7, 1997.
Exhibit 11-A: Certificate of Incorporation of Alamco-Delaware dated July
21, 1994.
Exhibit 9-B: By-Laws of Alamco-Delaware to be filed at a later date.
Exhibit 12-A: Certificate of Incorporation of Hawg-Hauling & Disposal,
Inc. dated March 17, 1993.
Exhibit 10-B: By-Laws of Hawg-Hauling & Disposal, Inc. dated March 12,
1993.
Exhibit 13-A: Certificate of Formation of EnergyNet, L.L.C. dated June
13, 1997.
Exhibit 11-B: By-Laws of EnergyNet, L.C.C. dated June 13, 1997.
Exhibit 14-A: Certificate of Merger of Commonwealth Propane, Inc., a
Virginia Corporation, with and into Columbia Propane
Corporation, A Delaware Corporation dated October 1, 1997.
Exhibit 15-A Restated Certificate of Incorporation of Columbia Propane
Corporation dated October 1, 1997.
Exhibit 12-B: Restated By-Laws of Columbia Propane Corporation as adopted
October 1, 1997.
Exhibit 16-A Amendment of the By-Laws of Commonwealth Gas Services, Inc.
as adopted January 16, 1998.
Exhibit 13-B Amendment of the By-Laws of Commonwealth Gas Services, Inc.
dated November 1, 1997.
Exhibit 17-A: Certificate of Amendment of Certificate of Incorporation of
Tristar Capital Corporation dated June 30, 1997.
<PAGE> 182
Exhibit 18-A: Certificate of Amendment of Restated Certificate of
Incorporation of Tristar Ventures Corporation dated June 1,
1997.
Exhibit 19-A: Certificate of Amendment of Restated Certificate of
Incorporation of Tristar Ventures Corporation dated January
16, 1998.
Exhibit D: Tax Allocation dated 1997.
Exhibit 27: Financial Data Tables
<PAGE> 1
CERTIFICATE OF AMENDMENT
OF Exhibit 3-B
CERTIFICATE OF INCORPORATION Page 1 of 3
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 (the
"Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of said Corporation, by unanimous
written consent dated June 30, 1997, adopted resolutions proposing and declaring
advisable an amendment to part FOURTH of the 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
Certificate of Incorporation of the Corporation be amended in its
entirety to read as follows:
FOURTH: The total number of shares of stock which the
Corporation shall have authority to issue is Three Thousand
(3,000) and the par value of each of such shares is Twenty-Five
Dollars ($25.00) amounting in the aggregate to Seventy Five
Thousand Dollars ($75,000).
RESOLVED, FURTHER, that 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 $25.00 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 one hundred fortieth (1/140) of a
share of common stock of the Corporation, par value $25.00 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 one hundred fortieth (1/140) 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
<PAGE> 2
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;
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 amendment 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 amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, FURTHER, that the officers of the Corporation be,
and they hereby are, authorized and directed from time to time to
execute any and all documents and to take any and all other actions
necessary or appropriate to carry forward the foregoing resolutions.
SECOND: 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 August 1, 1997, in accordance with the provisions of
Section 228(a) of the General Corporation Law of the State of Delaware.
THIRD: 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.
<PAGE> 3
Exhibits 3-B
Page 3 Of 3
IN WITNESS WHEREOF, Columbia Gas of Maryland, Inc. has caused this
Certificate to be signed by Mr. Gary J. Robinson, its President, and attested by
Mr. Andrew J. Sonderman, its Secretary, this 12th day of August, 1997.
By: /s/ Gary J. Robinson
--------------------------
President
ATTEST: /s/ Andrew J. Sonderman
--------------------------
Secretary
<PAGE> 1
Exhibit 6-A STATE OF DELAWARE
Page 1 of 11 SECRETARY OF STATE
DIVISION OF CORPORATIONS
FILED 08:30 AM 11/28/1995
950274205 - 704607
AMENDED AND RESTATED CERTIFICATE OF INCORPORATION
OF
COLUMBIA GAS TRANSMISSION CORPORATION, a corporation organized and
existing under the laws of the State of Delaware, hereby certifies as follows:
1. The name of the corporation is COLUMBIA GAS TRANSMISSION
CORPORATION. The date of filing its original Certificate of Incorporation with
the Secretary of State was March 3, 1969.
2. This is an amendment to the Restated Certificate of
Incorporation which was filed in the Office of the Secretary of State for the
State of Delaware on March 19, 1982. The effect of this Amendment is to add a
new Paragraph 9 as follows:
"NINTH: No non-voting equity securities of the Corporation may be
issued. This provision is to comply with Section 1123 of the United States
Bankruptcy Code, 11 U.S.C. Section 1123(a)(5)(I), and Section 1123 (a)(6)
shall have no force and effect except to the extent required by such Section so
long as such Section is in effect and applicable to the Corporation".
3. The text of the Certificate of Incorporation as amended is
hereby restated without further amendments or changes to read as herein set
forth in full:
<PAGE> 2
Exhibit 6-A
Page 2 of 11
FIRST. The name of the Corporation is COLUMBIA GAS TRANSMISSION
CORPORATION
SECOND. The address of its registered office in the State of Delaware
is No. 1209 Orange Street, in the City of Wilmington, County of New Castle. The
name of its registered agent at such address is The Corporation Trust Company.
THIRD. The nature of the business or purposes to be conducted or
promoted are:
(a) To prospect, explore and drill for, or otherwise
acquire, import, export, produce, mine, gather, store, treat, refine,
reform, blend, combine, manufacture, strip, purchase, transmit,
transport, sell or otherwise dispose of, furnish and deliver natural,
artificial and mixed gas, oil and other hydrocarbons including
gasoline, and sulphur and other minerals and mineral substances either
gaseous, liquid or solid, together with all derivatives, products or
by-products thereof;
(b) To construct, purchase, lease or otherwise acquire,
own, operate, maintain, sell or otherwise dispose of pipelines and
underground storage areas or facilities for the transmission, purchase,
production, storage or sale of natural, artificial or mixed gas,
together with such machinery, plants, appliances, supplies and other
equipment and property used, useful or convenient to the operation and
maintenance of said pipelines, and underground storage areas or
facilities:
(c) To construct, purchase, lease or otherwise acquire,
own, operate, maintain, sell or otherwise dispose of, a system or
systems of communications by radio, telephone, telegraph or otherwise,
together with such machinery, plants, appliances, supplies and other
equipment and property used, useful or
<PAGE> 3
Exhibit 6-A
Page 3 of 11
convenient to the operation and maintenance of such systems, for use
only in connection with the business of the Corporation and not as
common carrier or public utility;
(d) To manufacture, purchase, use, sell, lease and deal
in machines and inventions consuming or utilizing gas, oil or vapor as
a fuel, as light and/or heat, or other energy application, or as a raw
material or other component in any manufacturing or corresponding
process;
(e) To manufacture, purchase or otherwise acquire, lease,
invest in, own, mortgage, pledge, sell, assign and transfer or
otherwise dispose of, trade, deal in and deal with goods, wares and
merchandise and personal property of every class and description;
(f) To purchase, receive, take by grant, gift, devise,
bequest or otherwise, lease, or otherwise acquire, own, hold, improve,
employ, use and otherwise deal in and with real or personal property,
either tangible or intangible, or any interest therein, wherever
situated, and to sell, convey, lease, exchange, transfer or otherwise
dispose of, or mortgage or pledge, all or any or the corporation's
property and assets, or any interest therein, wherever situated;
(g) To exercise the power of eminent domain to the
fullest extent permitted by Federal law or applicable State statutes
for the purpose of acquiring such real or personal property and such
casements, rights of way, licences or other interest in such real or
personal property, as may be necessary or convenient in the
construction and/or operation and maintenance of any property or
facilities of the Corporation to which such Federal law or applicable
State statutes apply;
(h) To acquire, bring together, hold, dispose of and deal
in, royalty and other interests in minerals and to manage and control
said mineral interests and to collect the revenues arising therefrom:
<PAGE> 4
Exhibit 6-A
Page 4 of 11
(i) To lend money for its corporate purposes. invest and
reinvest its funds, and take. hold and deal with real and personal
property as security for the payment of funds so loaned or invested;
(j) To apply for, receive, acquire, hold, use, sell,
assign, lease, grant licenses in respect of, mortgage or otherwise
dispose of letters patent of the United States or any foreign country,
patent rights, territorial rights, licenses, permits, certificates,
privileges or other governmental authorization from any Federal, State,
or local governmental agency, inventions, improvements and processes,
copyrights, trademarks and trade names, that may be necessary,
appropriate, or convenient for the carrying out of any of the business
or purposes to be conducted or promoted by the corporation;
(k) To enter into, make, perform, carry out and rescind
contracts of every kind including contracts of guaranty and suretyship,
as principal agent or otherwise, with any person, firm, association,
corporation, government, state, municipality, or other governmental
agency or political subdivision thereof or body politic, or colony or
dependency thereof,
(l) To borrow or raise moneys for any of the purposes of
the corporation and, from time to time without limits as to amount, to
draw, make, accept, endorse, execute and issue promissory notes,
drafts, bills of exchange, warrants. bonds, debentures and other
negotiable or non-negotiable instruments and evidences of indebtedness,
and to secure the payment of any thereof and of the interest thereon by
mortgage upon or pledge, conveyance or assignment in trust of the whole
or any part of the property of the corporation, whether at the time
owned or thereafter acquired, and to sell, pledge or otherwise dispose
of such bonds or other obligations of the corporation for its
corporate purposes;
(m) To participate with others in any corporation,
partnership, limited partnership, joint venture, or other association
of any kind or in any transaction, undertaking or
<PAGE> 5
Exhibit 6-A
Page 5 of 11
arrangement which the participating corporation would have power to
conduct
by itself, whether or not such participation involves sharing or
delegation of control with or to others:
(n) To carry on and conduct research work upon any and
all problems arising in connection with the development of its
properties for the purchase, production, storage and transportation of
oil, gas, sulphur and other minerals and mineral substances either
gaseous, liquid, or solid, and the refining and extraction therefrom
and the refining of any product or byproduct or derivative thereof and
any commercial use, or application of any such minerals or mineral
substances or products, by-products, or derivatives thereof, or in
connection with any of the other objects and purposes of the
Corporation;
(o) To conduct and carry on any of the objects and
purposes herein enumerated through or by means of investment in
subsidiaries or in the stock, securities, or other evidences of
interest in corporations, joint stock companies, syndicates, firms,
trusts, partnerships; or other associations of any kind engaged in
carrying on or conducting any one or more of the businesses or
enterprises which the Corporation is authorized to conduct and carry on
hereunder;
(p) To acquire by purchase, subscription or otherwise,
and to receive, hold, own, guarantee, sell, assign, exchange, transfer,
mortgage, pledge or otherwise dispose of or deal in and with any of the
shares of the capital stock, or any voting trust certificates in
respect of the shares of capital stock, scrip, warrants, rights, bonds,
debentures, notes, trust receipts, and other securities, obligations,
choses in action and evidences of indebtedness or interest issued or
created by any corporations, joint stock companies, syndicates,
associations, firms, trusts or persons, public or private, or by the
government of the United States of America, or by any foreign
government, or by any state, territory, province, municipality or other
political subdivision or by any governmental agency, and as owner
thereof
<PAGE> 6
Exhibit 6-A
Page 6 of 11
to possess and exercise all the rights, powers and privileges of
ownership, including the right to execute consents and vote thereon,
and to do any and all acts and things necessary or advisable for the
preservation, protection, improvement and enhancement in value thereof;
(q) To purchase or otherwise acquire its own shares of
stock and its bonds, debentures, notes, scrip or other securities or
evidences of indebtedness, and to cancel or to hold, transfer or
reissue the same to such persons, firms, corporations or associations
and upon such terms and conditions as the Board of Directors may in its
discretion determine, without offering any thereof on the same terms or
on any terms to the stockholders then of record or to any class of
stockholders;
(r) To aid in any manner any corporation, joint stock
company, syndicate, association or trust, domestic or foreign, or any
firm, or individual, any shares of stock in which or any bonds,
debentures, notes, securities, evidences of indebtedness, contracts or
obligations of which are held by or for this Corporation, directly or
indirectly, or in which, or in the welfare of which, this Corporation
shall have any interest, and to do any acts designed to protect,
preserve, improve or enhance the value of any property at any time held
or controlled by this Corporation or in which it may be at any time
interested, directly or indirectly, or through other corporations or
otherwise; and to cause to be formed, merged, consolidated, or
reorganized or liquidated and to promote, take charge of or aid in any
way permitted by law, the formation, merger, consolidation,
reorganization or liquidation of any corporation or entity in the
United States or elsewhere;
(s) To sue and be sued in all courts and participate, as
a party, or otherwise. in any judicial, administrative, arbitrative or
other proceeding, in its corporate name, and to delegate by power of
attorney to any person or persons authority to commence, prosecute,
defend, compromise or settle any claims, actions or suits in behalf of
or against the Corporation, either at law or in equity or otherwise:
<PAGE> 7
Exhibit 6-A
Page 7 of 11
(t) To issue its capital stock, bonds, debentures, or
other obligations in payment for property purchased or acquired by it,
or for money borrowed, or for any other lawful object in or about its
business;
(u) To acquire, and pay for in cash, stock or bonds of
this Corporation or otherwise, the good will, rights, assets and
property, and to undertake or assume the whole or any part of the
obligations or liabilities of any person, firm, association or
corporation:
(v) To pay pensions and establish and carry out pension,
profit sharing, stock option, stock purchase, stock bonus, retirement,
benefit, incentive and compensation plans, trusts and provisions for
any or all of its directors, officers, and employees, and for any or
all of the directors, officers, or employees of its subsidiaries;
(w) To provide insurance for its benefit on the life of
any of its directors, officers, or employees, or on the life of any
stockholder for the purpose of acquiring at his death shares of its
stock owned by such stockholder.
(x) In general, to possess and exercise all the powers
and privileges granted by the General Corporation Law of Delaware or by
any other law of Delaware or by this Certificate of Incorporation
together with any powers incidental thereto, so far as such powers and
privileges are necessary or convenient to the conduct, promotion or
attainment of the business or purposes of the corporation.
The business and purposes specified in the foregoing clauses shall,
except where otherwise expressed, be in nowise limited or restricted by
reference to, or inference from, the terms of any other clause in this
Certificate of Incorporation, but the business and purposes specified in each
of the foregoing clauses of this article shall be regarded as independent
business and purposes.
FOURTH. The total number of shares of stock which the corporation shall
have authority to issue is fifteen million (15,000,000) and the par value of
<PAGE> 8
Exhibit 6-A
Page 8 of 11
each of such shares is Twenty-five Dollars ($25) amounting in the aggregate to
Three Hundred Million Dollars ($375,000,000).
FIFTH. The Corporation is to have perpetual existence.
SIXTH. 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 three. The
directors need not be stockholders.
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 the By-laws of the
Corporation subject to the power of the stockholders to alter or repeal
the By-laws made by the Board of Directors.
(b) Subject to the applicable provisions of the By-laws
then in effect, to determine, from time to time, whether and to what
extent and at what times and places and under what conditions and
regulations the accounts and books and documents of the Corporation, or
any of them, shall be opened to the inspection of the stockholders, and
no stockholder shall have any right to inspect any account or book or
document of the Corporation, except as conferred by statute, unless and
until authorized so to do by resolution of the Board of Directors or of
the stockholders of the Corporation.
(c) To authorize and cause to be executed mortgages and
liens upon the real and personal property of the corporation.
(d) To determine whether any, and, if any, what part, of
the net profits of the Corporation or of its surplus shall be
<PAGE> 9
Exhibit 6-A
Page 9 of 11
declared in dividends and paid to the stockholders, and to direct and
determine the use and disposition of any such net profits or such net
assets in excess of capital.
(e) To set apart out of any funds of the Corporation
available for dividends a reserve or reserves for any property purpose
and to abolish any such reserve or reserves, to make such other
provisions, if any, as the Board of Directors may deem necessary or
advisable for working capital, for additions, improvements and
betterments to plant and equipment, for expansion of the business of
the Corporation (including the acquisition of real and personal
property for that purpose) and for any other purposes of the
Corporation.
(f) By resolution or resolutions passed by a majority of
the whole board, to designate one or more committees, each committee to
consist of two 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. Any such committee, to the extent provided
in the resolution or in the by-laws of the corporation, shall have and
may exercise the powers 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;
provided, however, the by-laws may provide that in the absence or
disqualification of any, member of such committee or committees, 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.
(g) When and as authorized by the affirmative vote of the
holders of a majority of the stock issued and outstanding having voting
power given at a stockholders' meeting duly called upon such notice as
is required by statute, or when authorized by the written consent of
the holders of a majority of the voting stock issued and outstanding,
to sell, lease or exchange all or
<PAGE> 10
Exhibit 6-A
Page 10 of 11
substantially all of the property and assets of the corporation,
including its good will and its corporate franchises, upon such terms
and conditions and for such consideration, which may consist in whole
or in part of money or property including shares of stock in, and/or
other securities of, any other corporation or corporations, as its
board of directors shall deem expedient and for the best interests of
the corporation.
(h) The Corporation may in its By-laws confer powers upon
its Board of Directors in addition to the foregoing, and in addition to
the powers and authorities expressly conferred upon it by statute.
SEVENTH. 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. Elections of
directors need not be by written ballot unless the by-laws of the corporation
shall so provide.
EIGHTH. The Corporation reserves the right to amend, alter, change or
repeal any provision contained in this Certificate of Incorporation, in the
manner now or hereafter prescribed by statute, and all rights conferred upon
stockholders herein are granted subject to this reservation.
NINTH. No non-voting equity securities of the Corporation may be
issued. This provision is to comply with Section 1123 of the United States
Bankruptcy Code, 11 U.S.C. Section 1123(a)(5)(1), and Section 1123(a)(6), shall
have no force and effect except to the extent required by such Section so long
as such Section is in effect and applicable to the Corporation.
4. This Amended and Restated Certificate of Incorporation was duly adopted
by the board of directors in accordance with Section 245 of the General
Corporation Law of the State of Delaware and, pursuant to Section 303 of the
General Corporation Law of the State of Delaware, in accordance with the
Corporation's
<PAGE> 11
Exhibit 6-A
Page 11 of 11
Second Amended Plan of Reorganization, as further amended, dated July 17, 1995,
as confirmed by the U. S. Bankruptcy Court for the District of Delaware on
November 15, 1995. The undersigned are the proper officers to execute this
Certificate under the provisions of Section 303(c) of the General Corporation
Law of the State of Delaware.
IN WITNESS WHEREOF, said COLUMBIA GAS TRANSMISSION CORPORATION has
caused this certificate to be signed by R. LARRY ROBINSON, its President and
attested by STEPHEN J. SMALL, its Secretary this 28th day of November, 1995.
COLUMBIA GAS TRANSMISSION CORPORATION
By /s/ R. Larry Robinson
--------------------------------------------
President
(Corporate Seal)
ATTEST:
By /s/ Stephen J. Small
-----------------------------------
Secretary
<PAGE> 1
Exhibit 8-B
Page 1 of 22
ARTICLE I
OFFICES
Section 1. Registered Office. The registered office of Alamco, Inc. (the
"Corporation") shall be in the City of Wilmington, County of New Castle, State
of Delaware.
Section 2. Other Offices. The Corporation may also have offices at such
other places both within and without the State of Delaware as the Corporation's
board of directors (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. Place. 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. 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
<PAGE> 2
Exhibit 8-B
Page 2 of 22
elect by a plurality vote a Board of Directors, and transact such other business
as may properly be brought before the meeting.
Section 3. Notice. 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 (10) nor more than sixty (60) days before the
date of the meeting.
Section 4. Stockholder's List. 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 (10) 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. Special meetings of the stockholders, for any
purpose or purposes, unless otherwise prescribed by statute or by the
Corporation's certificate of incorporation (as the same may be amended or
restated from time to time, 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. Written notice of a
special meeting stating the place,
<PAGE> 3
Exhibit 8-B
Page 3 of 22
date and hour of the meeting and the purpose or purposes for which the meeting
is called, shall be given not less than ten (10) nor more than sixty (60) days
before the date of the meeting, to each stockholder entitled to vote at such
meeting. Business transacted at any special meeting of the stockholders shall be
limited to the purposes stated in the notice.
Section 6. Quorum. 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 therea, 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 (30) 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. 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 7. Votes. 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
<PAGE> 4
Exhibit 8-B
Page 4 of 22
no proxy shall be voted on after three years from its date, unless the proxy
provides for a longer period.
Section 8. Action by Consent. 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. Number. The number of directors which shall constitute the
whole Board of Directors shall be not less than three (3). 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 or her successor is
elected and qualified. Directors need not be stockholders.
Section 2. Vacancies. 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
<PAGE> 5
Exhibit 8-B
Page 5 of 22
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.
Section 3. General Powers. The business of the Corporation shall be
managed by the 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 Bylaws directed or required to be
exercised or done by the stockholders.
Section 4. Meetings of the Board of Directors. The Board of Directors may
hold meetings, both regular and special, either within or without the State of
Delaware. 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 all
of the directors 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. In lieu of holding such meeting,
the newly-elected Board of Directors may act by written consent consistent with
these Bylaws.
Section 5. Notice of Meetings. 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 of Directors. Special meetings of the Board of
Directors may be called by the President, the Secretary or any Assistant
Secretary on six (6) hours' notice to each director,
<PAGE> 6
Exhibit 8-B
Page 6 of 22
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 6. Quorum. At all meetings of the Board of Directors, a majority
of the directors then in office shall constitute a quorum for the transaction of
business (provided that not less than one-third of the total number of directors
shall be necessary to constitute a quorum), 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 7. Action by Consent. Unless otherwise specifically restricted
by the Certificate of Incorporation or these Bylaws, 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
of Directors 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 of Directors or committee.
Section 8. Telephonic Meetings. Unless otherwise specifically restricted
by the Certificate of Incorporation or these Bylaws, 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.
<PAGE> 7
Exhibit 8-B
Page 7 of 22
Section 9. Committees of Directors. The Board of Directors may, by
resolution passed by a majority of the whole Board of Directors, designate one
or more committees, each committee to consist of one or more of the directors of
the Corporation. The Board of Directors 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 the following matter: (i) approving or adopting, or recommending to the
stockholders, any action or matter expressly required by statute to be submitted
to stockholders for approval or (ii) adopting, amending or repealing any Bylaw
of the Corporation. 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. Each committee shall keep regular minutes of its meetings and report
the same to the Board of Directors.
Section 10. Compensation of Directors. Unless otherwise specifically
restricted by the Certificate of Incorporation or these Bylaws, 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
<PAGE> 8
Exhibit 8-B
Page 8 of 22
and receiving compensation therefor. Members of special or standing
committees may be allowed like compensation for attending committee meetings.
ARTICLE IV
NOTICES
Whenever, under the provisions of applicable statute or of the
Certificate of Incorporation or of these Bylaws, 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 may also be given by telegram, data fax, or other
similar method of transmitting a written communication. A waiver of notice
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. General. 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 Bylaws
otherwise provide. The Board of Directors may appoint such other officers and
agents as it shall deem necessary who shall have such titles hold their offices
for such
<PAGE> 9
Exhibit 8-B
Page 9 of 22
terms and shall exercise such powers and perform such duties as shall be
determined from time to time by the Board of Directors.
Section 2. Compensation. The compensation of all officers and agents of
the Corporation shall be fixed by the Board of Directors.
Section 3. Vacancies. 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 Board of Directors.
Any vacancy occurring in any office of the Corporation shall be filled by the
Board of Directors.
Section 4. The President and Vice Presidents. 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. 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. 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.
Section 5. Secretary. 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
<PAGE> 10
Exhibit 8-B
Page 10 of 22
shall perform like duties for the standing committees when required. The
Secretary 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 or she shall be. The Secretary shall have custody of
the corporate seal of the Corporation and the Secretary, 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 the signature of the Secretary, or an
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
such officer's signature. 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 the Secretary's 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.
Section 6. Treasurer. 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. 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 transactions made as Treasurer/Assistant Treasurer and/or as
Controller/Assistant Controller and of the financial condition of the
Corporation. If required
<PAGE> 11
Exhibit 8-B
Page 11 of 22
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 (6) 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.
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 or her 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
CAPITAL STOCK
Section 1. Registered Stockholders. 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.
Section 2. Certification. Shares of capital stock may be certificated
at the discretion of the Board of Directors. If certificated, then every
holder of capital stock in the
<PAGE> 12
Exhibit 8-B
Page 12 of 22
Corporation shall receive 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. 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.
Section 3. Lost Certificates. 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.
Section 4. Transfers of Stock. 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.
<PAGE> 13
Exhibit 8-B
Page 13 of 22
Section 5. Record Date. 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 (60) nor less than ten (10) days before the
date of such meeting, nor more than sixty (60) 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.
Section 6. Dividends. 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, or by written consent, 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. 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.
<PAGE> 14
Exhibit 8-B
Page 14 of 22
ARTICLE VII
INDEMNIFICATION
Section 1. Right to Indemnification. The Corporation shall to the fullest
extent permitted by applicable law as then in effect indemnity 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 (including
attorney's fees) 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.
Section 2. 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 1 of this Article VII or incurred by an Indemnitee in connection with
any proceeding referred to in Section 1 of this Article VII, 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
<PAGE> 15
Exhibit 8-B
Page 15 of 22
other means in furtherance of the provisions of this Article VII to ensure the
payment of such amounts as may be necessary to effect indemnification as
provided in this Article VII.
Section 3. 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 VII shall inure to the benefit of the heirs
and legal representatives of any person entitled to indemnity under this Article
VII and shall be applicable to Proceedings commenced or continuing after the
adoption of this Article VII, whether arising from acts or omissions occurring
before or after such adoption.
Section 4. 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 VII:
(a) Advance of Expenses. All reasonable expenses (including
attorney's fees) incurred by or on behalf of the Indemnitee in connection with
any Proceeding shall be advanced to the Indemnitee by the Corporation within
twenty (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
VII.
<PAGE> 16
Exhibit 8-B
Page 16 of 22
(b) Procedure for Determination of Entitlement to Indemnification.
(i) To obtain indemnification under this Article VII, 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 sixty (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 VII shall be determined in one of the following ways: (A) by a
majority vote of the Disinterested Directors (as hereinafter defined), whether
or not 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 majority of such Disinterested Directors so directs; (C) by
the stockholders of the Corporation (but only a majority of the Disinterested
Directors present the issue of entitlement to indemnification to the
stockholders for their determination); or (D) as provided in Section 4(c) of
this Article VII.
(iii) In the event the determination of entitlement to
indemnification is to be made by Independent Counsel pursuant to Section
4(b)(ii) of this Article VII, 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.
<PAGE> 17
Exhibit 8-B
Page 17 of 22
(iv)The only basis upon which a finding of no entitlement to
indemnification may be made is that indemnification is prohibited by law.
(c) Presumptions and Effect of Certain Proceedings. Except as
otherwise expressly provided in this Article VII, if a Change of Control shall
have occurred, the Indemnitee shall be presumed to be entitled to
indemnification under this Article VII upon submission of a request for
indemnification together with the Supporting Documentation in accordance with
Section 4(b)(i) of this Article VII, 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
4(b) to determine entitlement to indemnification shall not have been appointed
or shall not have made a determination within sixty (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 the
Indemnitee misrepresented or failed to disclose a material fact in making the
request for indemnification or in the Supporting Documentation or such
indemnification is prohibited by law. The termination of any Proceeding
described in Section 1 of this Article VII, 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.
(d) Remedies of Indemnitee.
(i) In the event that a determination is made pursuant to
Section 4(b) or Section 4(c) of this Article VII that the Indemnitee is not
entitled to indemnification under
<PAGE> 18
Exhibit 8-B
Page 18 of 22
this Article VII, (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 VII.
(ii)If pursuant to Section 4(b) or Section 4(c) of this
Article VII 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 (5)
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 4(a) of this Article VII or (y) payment of
indemnification is not made within five (5) days after a determination of
entitlement to indemnification has been made or deemed to have been made
pursuant to Section 4(b) or Section 4(c) of this Article VIII 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.
<PAGE> 19
Exhibit 8-B
Page 19 of 22
(iii) The Corporation shall be precluded from asserting in any
judicial proceeding or arbitration commenced pursuant to this Section 4(d) that
the procedures and presumptions of this Article VII 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 VII
(iv) In the event that pursuant to this Section 4(d) the
Indemnitee seeks a judicial adjudication of or an award in arbitration to
enforce the Indemnitee's rights under, or to recover damages for breach of, this
Article VII, 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 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.
(e) Definitions. For purposes of this Section 4:
(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 Holding Company Act by
virtue or his, hers or its influence over the management or policies of the
Corporation, or (B) whether or not said Holding Company 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)
<PAGE> 20
Exhibit 8-B
Page 20 of 22
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 1O% 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 (2) 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 (5) 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 VII. 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 VII.
<PAGE> 21
Exhibit 8-B
Page 21 of 22
Section 5. Severability. If any provision or provisions of this Article
VII 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 VII (including, without limitation, all portions of
any paragraph of this Article VII 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 VII (including,
without limitation, all portions of any paragraph of this Article VII 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.
Section 6. 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 VIII
GENERAL PROVISIONS
Section 1. Checks. 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.
Section 2. Fiscal Year. 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.
Section 3. Seal. 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
<PAGE> 22
Exhibit 8-B
Page 22 of 22
may be used by causing it or a facsimile thereof to be impressed or affixed
or reproduced or otherwise.
Section 4. Amendments. These Bylaws may be altered, amended or repealed or
new Bylaws 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
Bylaws be contained in the notice of such special meeting.
Adopted as of: August 7, 1997.
<PAGE> 1
Exhibit 9-A
Page 1 of 2
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
CLNG CORPORATION
CLNG 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 consent dated as of June 1, 1996, adopted resolutions proposing and
declaring advisable an amendment to Part SEVENTH of the 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
SEVENTH of the Certificate of Incorporation of the 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, 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 TWO (2). 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 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 the foregoing amendment is advisable
and its adoption is in the best interests of
<PAGE> 2
Exhibit 9-A
Page 2 of 2
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; and
RESOLVED FURTHER, that after approval of such amendments by
the stockholders of the Corporation, 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."
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 otherwise 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, Columbia
LNG Corporation, being the holder of all of the outstanding stock of the
Corporation and therefore 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 June 3, 1996, in accordance with the provisions of
Section 228(a) of the General Corporation Laws of the State of Delaware.
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, CLNG Corporation has caused this Certificate to be
signed by L. Michael Bridges, its President and attested by Tejinder S. Bindra,
its Secretary, this ____ th day of _______, 1997.
By:
--------------------------------------
President
ATTEST:
--------------------------------------
Secretary
<PAGE> 1
Exhibit 10-B
Page 1 of 13
BYLAWS
OF
HAWG HAULING AND DISPOSAL, INC.
ARTICLE I. OFFICES
The principal offices of the Corporation shall be located at Route 1, Box 84A,
Buckhannon, West Virginia, 26201. The Corporation may have such other offices,
either within or without the State of West Virginia, as the Board of Directors
may designate or as the business of the Corporation may require from time to
time.
ARTICLE II. SHAREHOLDERS
Section 1. Annual Meeting. The annual meeting of the Shareholders shall be held
on the fourth Friday in April in each year, at the hour of 10:00 A.M., local
time, or at such other time on such other day within such month as shall be
fixed by the Board of Directors, for the purpose of electing Directors and for
the transaction of such other business as may come before the meeting. If the
day fixed for the annual meeting shall be a legal holiday in the State of the
principal office of the Corporation, such meeting shall be held on the next
succeeding business day.
Section 2. Special Meetings. Special meetings of the Shareholders, for any
purpose or purposes, may be called by the Chairman of the Board, if any,
President, Secretary, or by the Board of Directors, and shall be called by the
President at the request of the holders of not less than one-tenth (1/10) of all
outstanding shares of the Corporation entitled to vote at the meeting.
Section 3. Place of Meeting. The Board of Directors may designate any place,
either within or without the State of West Virginia, as the place of meeting for
any annual meeting or for any special meeting called by the Board of Directors.
If no designation is made, or if a special meeting be otherwise called, the
place of meeting shall be the principal office of the Corporation.
<PAGE> 2
Exhibit 10-B
Page 2 of 13
Section 4. Action by Conference Telephone or Electronic Communication. One or
more Shareholders may participate and vote on any corporate action at a meeting
of the Shareholders by means of conference telephone or similar electronic
communications equipment by means of which all persons participating in the
meeting can hear each other. Whenever a vote of the Shareholders is required or
permitted in connection with any corporate action, such vote may be taken orally
during the electronic conference. Any agreement reached during any such
conference shall have like effect and validity as though the action were duly
taken by the action of the Shareholders at a meeting of Shareholders if the
agreement is reduced to writing and approved by the Shareholders at the next
regular meeting of the Shareholders after the conference.
Section 5. Notice of Meeting. Written notice stating the place, day and hour of
the meeting and, in case of a special meeting, the purpose or purposes for which
the meeting is called, shall be delivered not less than ten (10) nor more than
fifty (50) days before the date of the meeting, either personally or by mail, by
or at the direction of the Chairman of the Board, if any, President, Secretary
or the officer or other persons calling the meeting, to each Shareholder of
record entitled to vote at such meeting. If mailed, such notice shall be deemed
to be delivered when deposited in the United States mail, addressed to the
Shareholder at his address as it appears on the Stock Transfer Books of the
Corporation, with postage thereon prepaid.
Section 6. Closing of Transfer Books or Fixing of Record Date. For the purpose
of determining Shareholders entitled to notice of or vote at any meeting of
Shareholders or any adjournment thereof, or Shareholders entitled to receive
payment of any dividend, or in order to make a determination of Shareholders for
any other proper purpose, the Board of Directors of the Corporation may provide
that the Stock Transfer Books shall be closed for a stated period but not to
exceed, in any case, fifty (50) days. If the Stock Transfer Books shall be
closed for the purpose of determining Shareholders entitled to notice of or to
vote at a meeting of Shareholders, such books shall be closed for at least ten
(10) days immediately preceding such meeting. In lieu of closing the Stock
Transfer Books, the Board of Directors may fix in advance a date as the record
date for any such determination of Shareholders, such date in any case to be not
more than fifty (50) days and, in case of a meeting of Shareholders, not less
than ten (10) days prior to the date on which the particular action, requiring
such determination of Shareholders, is to be taken. If the Stock Transfer Books
are not closed and no record date is fixed for the determination of Shareholders
entitled to notice of or to vote at a meeting of Shareholders, or Shareholders
entitled to receive payment of a dividend, the date on which notice of the
meeting is mailed or the date on which the resolution of the Board of Directors
declaring such dividend is adopted, as the case may be, shall be the record date
for such determination of Shareholders. When a determination of Shareholders
entitled to vote at any meeting or Shareholders has been made as provided in
this section, such determination shall apply to any adjournment thereof.
<PAGE> 3
Exhibit 10-B
Page 3 of 13
Section 7. Voting Record. The Officer or agent having charge of the Stock
Transfer Books for shares of the Corporation shall make a complete record of the
Shareholders entitled to vote at each meeting of Shareholders or any adjournment
thereof, arranged in alphabetical order, with the address of and the number of
shares held by each. Such record shall be produced and kept open at the time and
place of the meeting and shall be subject to inspection by any Shareholder
during the whole time of the meeting for the purposes thereof.
Section 8. Quorum. A majority of the outstanding shares of the Corporation
entitled to vote, represented in person or by proxy, shall constitute a quorum
at a meeting of Shareholders. If less than a majority of the outstanding shares
are represented at a meeting, a majority of the shares so represented may
adjourn the meeting from time to time without further notice. 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
noticed. The Shareholders present at a duly organized meeting may continue to
transact business until adjournment, notwithstanding the withdrawal of enough
Shareholders to leave less than a quorum.
Section 9. Proxies. At all meeting of Shareholders, a shareholder may vote in
person or by proxy executed in writing by the Shareholder or by his duly
authorized attorney-in-fact. Such proxy shall be filed with the Secretary of the
Corporation before or at the time of the meeting. No proxy shall be valid after
eleven (11) months from the date of its execution, unless otherwise provided in
the proxy.
Section 10. Voting of Shares. Each outstanding share entitled to vote shall be
entitled to one vote upon each matter submitted to a vote at a meeting of
Shareholders.
Section 11. Voting of Shares by Certain Holders. Shares standing in the name of
another corporation may be voted by such officer, agent or proxy as the bylaws
of such corporation may prescribe, or, in the absence of such provision, as the
board of directors of such other corporation may determine.
Shares held by an administrator, executor, guardian, committee, curator or
conservator may be voted by him, either in person or by proxy, without a
transfer of such shares into his name. Shares standing in the name of a trustee
may be voted by him, either in person or by proxy, but no trustee shall be
entitled to vote shares held by him without a transfer of such shares into his
name.
<PAGE> 4
Exhibit 10-B
Page 4 of 13
Shares standing in the name of a receiver may be voted by such receiver, and
shares held by or under the control of a receiver may be voted by such receiver
without the owner thereof into his name if authority so to do be contained in an
appropriate Order of the Court by which such receiver was appointed.
A Shareholder whose shares are pledged shall be entitled to vote such shares
until the shares have been transferred into the name of the pledgee, and
thereafter the pledgee shall be entitled to vote the shares so transferred.
Neither treasury shares of its own stock held by the Corporation, nor shares
held by another corporation if a majority of the shares entitled to vote for the
election of directors of such other corporation are held by the Corporation,
shall be voted at any meeting or counted in determining the total number of
outstanding shares at any given time for purposes of any meeting.
Section 12. Waiver of Notice. Notice of the time, place or purpose of any
meeting of the Shareholders may be dispensed with as to a Shareholder who shall
attend either in person or by proxy, and as to an absent Shareholder who shall,
in writing, filed with the records of the meeting either before or after the
holding thereof, waive such notice.
Section 13. Information by Shareholders. Any action required or permitted to
be taken at a meeting of the Shareholders may be taken without a meeting if a
consent in writing, setting forth the action so taken, shall be signed by all of
the Shareholders entitled to vote with respect to the subject matter thereof.
ARTICLE III. BOARD OF DIRECTORS
Section 1. General Powers. The business, property and affairs of the
Corporation shall be managed by its Board of Directors.
Section 2. Number, Tenure and Qualifications. The number of Directors of the
Corporation shall be not less than one (1) nor more than five (5). Each Director
shall hold office until the next annual meeting of Shareholders and until his
successor shall have been elected and qualified or until his prior death,
resignation or removal. Directors need not be residents of the State of West
Virginia, or Shareholders of the Corporation.
<PAGE> 5
Exhibit 10-B
Page 5 of 13
Section 3. Regular Meetings. A regular meeting of the Board of Directors shall
be held without other notice than this Bylaw immediately after, and at the same
place as, the annual meeting of Shareholders. The Board of Directors may
provide, by resolution, the time and place, either within or without the State
of West Virginia, for the holding of additional regular meetings without other
notice than such resolution.
Section 4. Special Meetings. Special meetings of the Board of Directors may be
called by or at the request of the President or any Director. The person or
persons authorized to call special meetings of the Board of Directors may fix
any place, either within or without the State of West Virginia, as the place for
holding any special meeting of the Board of Directors called by them.
Section 5. Action By Conference Telephone or Electronic Communication. One or
more Directors may participate and vote on any corporate action at a meeting of
the Board of Directors by means of conference telephone or similar electronic
communications equipment by means of which all persons participating in the
meeting can hear each other. Whenever a vote of the Directors is required or
permitted in connection with any corporate action, such vote may be taken orally
during the electronic conference. Any agreement reached during any such
conference shall have like effect and validity as though the action were duly
taken by the action of the Directors at a meeting of the Board of Directors if
the agreement is reduced to writing and approved by the Directors at the next
regular meeting of the Board of Directors after the conference.
Section 6. Notice. Waiver of Notice. Notice of any special meeting shall be
given at least three (3) days previously thereto by written notice delivered
personally or mailed to each Director at his business address, or by telegram.
If mailed at least five (5) days prior to the date of meeting, such notice shall
be deemed to be delivered when deposited in the United States mail, so
addressed, with postage thereon prepaid. If notice be given by telegram, such
notice shall be deemed to be delivered when the telegram is delivered to the
telegraph company. Any Director may waive notice of any meeting either before or
after the holding thereof. The attendance of a Director at a meeting shall
constitute a waiver of notice of such meeting, except where a Director attends a
meeting for the express purpose of objecting to the transaction of any business
because the meeting is not lawfully called or convened. Neither the business to
be transacted at, nor the purpose of, any regular or special meeting of the
Board of Directors need be specified in the notice of waiver of notice of such
meeting, except as otherwise provided by statute.
<PAGE> 6
Exhibit 10-B
Page 6 of 13
Section 7. Quorum. The quorum for the transaction of business at any meeting of
the Board of Directors shall consist of one (1) if the total number of Directors
in office at the time of the meeting is one (1). If the total number of
Directors in office at the time of the meeting is two (2), a quorum shall
consist of both Directors. If the total number of Directors in office at the
time of the meeting is three (3) or more, a quorum shall consist of a majority
of the Directors, If less than a quorum is present at a meeting, a majority of
the Directors present may adjourn the meeting from time to time without further
notice.
Section 8. Manner of Acting. The act of the majority of the Directors present
at a meeting at which a quorum is present shall be the act of the Board of
Directors.
Section 9. Action Without a Meeting. Any action required or permitted to be
taken by the Board of Directors at a meeting may be taken without a meeting if a
consent in writing, setting forth the action so taken, shall be signed by all of
the Directors.
Section 10. Committees. The Board of Directors, by resolution adopted by a
majority of the Board of Directors, may designate from among its members an
executive committee and/or one or more other committees each of which shall have
such powers and authority (to the extent permitted by law) as may be provided in
such resolution. Each such committee shall serve at the pleasure of the Board
of Directors.
Section 11. Director Conflicts of Interest. No contract or other transaction
between this Corporation and one or more of its Directors or any other
corporation, firm, association or entity in which one or more of its directors
are Directors or Officers of this Corporation or are financially interested
shall be either void or voidable because of such relationship or interest or
because such Director or Directors are present at the meeting of the Board of
Directors or a committee thereof which authorizes, approves or ratifies such
contract or transaction or because his or their votes are counted for such
purpose, if:
(a) The fact of such relationship or interest is disclosed or known
to the Board of Directors or committee which authorizes, approves or ratifies
such contract or transaction by a vote or consent sufficient for the purpose
without counting the votes or consents of such interested Directors; or
(b) The fact of such relationship or interest is disclosed or known
to the Shareholders entitled to vote and they authorize, approve or ratify such
contract or transaction by vote or written consent; or
<PAGE> 7
Exhibit 10-B
Page 7 of 13
(c) The contract or transaction is fair and reasonable to the
Corporation.
Common or interested Directors may be counted in determining the presence of a
quorum at a meeting of the Board of Directors or a committee thereof which
authorizes, approves or ratifies such contract or transaction.
On any question involving the authorization, approval or ratification of any
such contract or transaction, the names of those Directors or Shareholders, as
the case may be, voting each way shall be entered on the record of the
proceedings.
Section 12. Removal. Any Director or Directors may be removed, either with or
without cause, at any time, by the vote of the Shareholders holding a majority
of the shares then issued and outstanding and who were entitled to vote for the
election of the Director or Directors sought to be removed, at any special
meeting of the Shareholders called for that purpose.
Section 13. Resignation. Any Director may resign at any time by giving written
notice to the Board of Directors, the President or the Secretary. Unless
otherwise specified in such written notice, such resignation shall take effect
upon receipt thereof by the Board of Directors or such Officer, and the
acceptance of such resignation shall not be necessary to make it effective.
Section 14. Vacancies. Any vacancy occurring in the Board of Directors may be
filled by the affirmative vote of a majority of the remaining Directors, even
though less than a quorum of the Board of Directors. A Director elected to fill
a vacancy shall be elected for the unexpired term of his predecessor in office.
Any Directorship to be filled by reason of an increase in the number of
Directors may be filled by election by the Board of Directors for a term of
office continuing only until the next election of Directors by the Shareholders.
Section 15. Compensation. By resolution of the Board of Directors, each Director
may be paid his expenses, if any, of attendance at each meeting of the Board of
Directors, or committee thereof, and may he paid a stated salary as Director or
a fixed sum for attendance at each meeting of the Board of Directors or
committee thereof or both. No such payment shall preclude any Director from
serving the Corporation in any other capacity and receiving compensation
therefor.
Section 16. Presumption of Assent. A Director of the Corporation who is present
at a meeting of the Board of Directors at which action on any corporate matter
is taken shall be presumed to have assented to the action taken unless his
dissent shall be entered in the minutes of the meeting
<PAGE> 8
Exhibit 10-B
Page 8 of 13
or unless he shall file his written dissent to such action with the person
acting as the Secretary of the meeting before the adjournment thereof or shall
forward such dissent by registered mail to the Secretary of the Corporation
immediately after the adjournment of the meeting. Such right to dissent shall
not apply to a Director who voted in favor of such action.
ARTICLE IV. OFFICERS
Section 1. Number. The Officers of the Corporation shall be a President, one
or more Vice Presidents (the number thereof to be determined by the Board of
Directors), a Secretary, and a Treasurer, each of whom shall be elected by the
Board of Directors. A Chairman of the Board of Directors and such other Officers
and Assistant Officers as may be deemed necessary may be elected or appointed by
the Board of Directors. Any two or more offices may be held by the same person,
except the offices of President and Secretary. The President and the Chairman of
the Board, if any, shall be elected from the membership of the Board of
Directors, but the other Officers need not be Directors.
Section 2. Election and Term of Office. The Officers of the Corporation to be
elected by the Board of Directors shall be elected annually by the Board of
Directors at the first meeting of the Board of Directors held after each annual
meeting of the Shareholders. If the election of Officers shall not be held at
such meeting, such election shall be held as soon thereafter as conveniently may
be. Each Officer shall hold office until his successor shall have been duly
elected and shall have qualified or until his prior death, resignation or
removal.
Section 3. Removal. Any Officer may be removed, with or without cause, at any
time, by the vote of a majority of the Board of Directors.
Section 4. Resignation. Any Officer may resign at any time by giving written
notice to the Board of Directors, the President or the Secretary. Unless
otherwise specified in such written notice, such resignation shall take effect
upon receipt thereof by the Board of Directors or such Officer, and the
acceptance of such resignation shall not be necessary to make it effective.
Section 5. Vacancies. A vacancy in any office because of death, resignation,
removal, disqualification or otherwise, may be filled by the Board of Directors
for the unexpired portion of the term.
<PAGE> 9
Exhibit 10-B
Page 9 or 13
Section 6. Chairman of the Board and President. The Chairman of the Board or the
President, as the Board of Directors may from time to time determine, shall be
the principal executive officer of the Corporation. The principal executive
officer of the Corporation shall in general supervise and control all of the
business and affairs of the Corporation, subject to the control of the Board of
Directors. He shall, when present, preside at all meetings of the Shareholders.
Whether the Chairman of the Board or the President be designated as the
principal executive officer of the Corporation the other shall, in the absence
or incapacity of the principal executive officer or by his authority may,
exercise any of the powers of the principal executive officer. The Chairman of
the Board or the President may sign deeds, mortgages, bonds, contracts, or
other instruments which the Board of Directors has authorized to be executed,
except in cases where the signing and executing thereof shall be expressly
delegated by the Board or by these Bylaws to some other Officer or agent of the
Corporation, or shall be required by law to be otherwise signed or executed.
The Chairman of the Board and the President shall each, in general, perform all
duties incident to their respective offices and shall perform such other duties
as may be prescribed by the Board of Directors from time to time.
Section 7. The Vice President. In the absence of the Chairman of the Board and
President or in the event of their death, inability or refusal to act, the Vice
President (or in the event there may be more than one Vice President, the Vice
Presidents in the order designated at the time of their election, or in the
absence of any designation, then in the order of their election) shall perform
the duties of the Chairman of the Board and President, and when so acting,
shall have all the powers of and be subject to all the restrictions upon the
Chairman of the Board and President. Any Vice President may sign, with the
Secretary or an Assistant Secretary, certificates for shares of the
Corporation; and shall perform such other duties as from time to time may be
assigned to him by the principal executive officer of the Corporation, the
Bylaws or the Board of Directors.
Section 8. The Secretary. The Secretary shall: (a) keep the minutes of the
proceedings of the Shareholders and of the Board of Directors in one or more
books provided for that purpose; (b) see that all notices are duly given in
accordance with the provisions of these Bylaws or as required by law; (c) be
custodian of the corporate records and of the seal of the Corporation and see
that the seal of the Corporation is affixed to all documents, the execution of
which on behalf of the Corporation under its seal is duly authorized; (d) keep
a register of the post office address of each Shareholder which shall be
furnished to the Secretary by such Shareholder; (3) sign with the President,
or a Vice President, certificates for shares of the Corporation, the issuance
of which shall have been authorized by resolution of the Board of Directors;
(f) have general charge of the Stock Transfer Books of the Corporation; and (g)
in general perform all duties incident to the office of Secretary and such
other duties as from time to time may be assigned to him by the principal
executive officer of the Corporation, the Bylaws or by the Board of Directors.
<PAGE> 10
Exhibit 10-B
Page 10 of 13
Section 9. The Treasurer. The Treasurer shall: (a) have charge and custody of
and be responsible for all funds and securities of the Corporation; (b) receive
and give receipts for moneys due and payable to the Corporation from any source
whatsoever, and deposit all such moneys in the name of the Corporation in such
banks, trust companies or other depositories as shall be selected in accordance
with the provisions of Article V of these Bylaws; and (c) in general perform all
of the duties incident to the office of Treasurer and such other duties as from
time to time may be assigned to him by the principal executive officer of the
Corporation, the Bylaws or by the Board of Directors. If required by the Board
of Directors, the Treasurer shall give bond for the faithful discharge of his
duties in such sum and with such surety or sureties as the Board of Directors
shall determine.
Section 10. Assistant Secretaries and Assistant Treasurers. The Assistant
Secretaries, when authorized by the Board of Directors, may sign with the
President or a Vice President certificates for shares of the Corporation the
issuance of which shall have been authorized by a resolution of the Board of
Directors. The Assistant Treasurers shall respectively, if required by the Board
of Directors, give bonds for the faithful discharge of their duties in such sums
and with such sureties as the Board of Directors shall determine. The Assistant
Secretaries and Assistant Treasurers, in general, shall perform such duties as
shall be assigned to them by the Secretary or the Treasurer, respectively, or by
the principal executive officer of the Corporation, the Bylaws or by the Board
of Directors.
Section 11. Officers' Salaries. The salaries of the Officers shall be fixed
from time to time by the Board of Directors and no Officer shall be prevented
from receiving such salary by reason of the fact that he is also a Director of
the Corporation.
ARTICLE V. CONTRACTS, LOANS, CHECKS AND DEPOSITS
Section 1. Contracts. The Board of Directors may authorize any Officer or
Officers, agent or agents, to enter into any contract or execute and deliver any
instrument in the name of and on behalf of the Corporation, and such authority
may be general or confined to specific instances.
Section 2. Loans. No loans shall be contracted on behalf of the Corporation and
no evidences of indebtedness shall be issued in its name unless authorized by a
resolution of the Board of Directors. Such authority may be general or confined
to specific instances. The Board of Directors may encumber and mortgage real
estate and pledge, encumber and mortgage stocks, bonds and other securities and
other personal property of all types, tangible and intangible, and convey any
such property in trust to secure the payment of corporate obligations.
<PAGE> 11
Exhibit 10-B
Page 11 of 13
Section 3. Checks, Drafts, Etc. All checks, drafts, or other orders for the
payment of money, notes or other evidences of indebtedness issued in the name of
the Corporation shall be signed by such Officer or Officers, agent or agents of
the Corporation and in such manner as shall from time to time be determined by
resolution of the Board of Directors.
Section 4. Deposits. All funds of the Corporation not otherwise employed shall
be deposited from time to time to the credit of the Corporation in such banks,
trust companies or other depositories as the Board of Directors may select.
ARTICLE VI. CERTIFICATES FOR SHARES AND THEIR TRANSFER
Section 1. Certificates for Shares. Certificates representing shares of the
Corporation shall be in such form as shall be determined by the Board of
Directors. Such certificates shall be signed by the President or a Vice
President and by the Secretary or an Assistant Secretary and sealed with the
Corporate Seal or a facsimile thereof. The signatures of such Officers upon a
certificate may be facsimiles if the certificate is manually signed on behalf of
the transfer agent or a registrar, other than the Corporation itself or one of
its employees. Each certificate for shares shall be consecutively numbered or
otherwise identified. The name and address of the person to whom the shares
represented thereby are issued, with the number of shares and date of issue,
shall be entered on the Stock Transfer Books of the Corporation. All
certificates surrendered to the Corporation for transfer shall be cancelled and
no new certificates shall be issued until the former certificate for a like
number of shares shall have been surrendered and cancelled, except that in case
of a lost, destroyed or mutilated certificate a new one may be issued therefor
upon such terms and indemnity to the Corporation as the Board of Directors may
prescribe.
Section 2. Transfer of Shares. Transfer of shares of the Corporation shall be
made only on the Stock Transfer Books of the Corporation by the holder of record
thereof or by his legal representative, who shall furnish proper evidence of
authority to transfer, or by his attorney thereunto authorized by power of
attorney duly executed and filed with the Secretary of the Corporation, and on
surrender for cancellation of the certificate for such shares. The person in
whose name shares stand on the books of the Corporation shall be deemed by the
Corporation to be the owner thereof for all purposes.
Section 3. Issuance and Sale of Shares. The Board of Directors may from time to
time issue, or provide for the issuance of, the authorized shares of the
Corporation for money at not less than the par value thereof. Shares of the
Corporation shall not be sold at less than par value except when, and to the
extent such sale is authorized by a resolution, specifying the number,
<PAGE> 12
Exhibit 10-B
Page 12 of 13
or maximum number of shares to be so sold, and the sale price, or minimum sale
price, passed at any meeting of the Shareholders by a vote of three-fourths
(3/4) of all of the shares entitled to vote.
Section 4. Issuance of Shares for Property, Etc. The Board of Directors may
also from time to time issue, or provide for the issuance of, the authorized
shares of the Corporation in payment wholly or partly for cash, labor done, real
and/or personal property, or for the use thereof, at such price for any such
labor or property or the use thereof, as may be fixed by agreement between the
owner of the property and the Board of Directors, but before doing so the Board
of Directors shall by resolution state its opinion of the fair value of the
labor done or property received for which such shuts are to be issued.
Section 5. Proceeds of Shares. The books of the Corporation shall be so kept as
to show at all times what money or other consideration was received by the
Corporation for the shares issued by it, and the number and par value of all
shares issued.
Section 6. Lost Certificates. Any person claiming a certificate of shares to be
lost or destroyed shall make an affidavit or affirmation of that fact, and if
requested to do so by the Board of Directors shall advertise such fact in such
manner as the Board of Directors may require, and shall give the Corporation a
bond of indemnity in such sum as the Board of Directors may direct, but not less
than double the value of shares represented by such certificate, in form
satisfactory to the Board of Directors and with or without sureties as the Board
of Directors may prescribe; whereupon the President and the Secretary may cause
to be issued a new certificate of the same tenor and for the same number of
shares as the one alleged to have been lost or destroyed, but always subject to
the approval of the Board of Directors.
Section 7. Stock Transfer Books. The Stock Transfer Books of the Corporation
shall be kept in the principal office of the Corporation and shares shall be
transferred under such regulations as may be prescribed by the Board of
Directors.
ARTICLE VII. FISCAL YEAR
The fiscal year of the Corporation may be fixed and may be changed from time to
time by resolution of the Board of Directors. Until the Board of Directors has
acted to fix such fiscal year, the fiscal year of the Corporation shall begin on
the first day of January and end on the thirty-first day of December in each
year.
<PAGE> 13
' Exhibit 10-B
Page 13 of 13
ARTICLE VIII. DIVIDENDS
The Board of Directors may, from time to time, declare and the Corporation may
pay dividends on its outstanding shares in the manner and upon the terms and
conditions provided by law and its Articles of Incorporation.
ARTICLE IX. CORPORATE SEAL
The Board of Directors shall provide a corporate seal which shall be circular in
form and shall have inscribed thereon the name of the Corporation, the State of
incorporation and the words "Corporate Seal".
ARTICLE X. VOTING SHARES OF OTHER CORPORATIONS
Unless otherwise ordered by the Board of Directors, shares in other corporations
held by this Corporation may be voted by the Chairman of the Board or the
President of this Corporation.
ARTICLE XI. RELIANCE ON RECORDS
Each Officer and Director shall in the performance of his duties be fully
protected in relying in good faith upon the books of account and other records
of this Corporation, or upon reports made to the Corporation by any of its
Officers, or by any independent certified public accountant, or by an appraiser
selected with reasonable care by the Board of Directors.
ARTICLE XII. AMENDMENT OF BYLAWS
Section 1. By the Shareholders. The Bylaws may be amended, altered,
supplemented or repealed at any annual or special meeting of the Shareholders by
a majority vote of all of the shares entitled to vote.
Section 2. By the Directors. The Board of Directors, by a majority vote, may
amend, alter, supplement and repeal the Bylaws. Any Bylaws or amendments to the
Bylaws made by the Board of Directors may be amended, altered, supplemented or
repealed by the Board of Directors or by the Shareholders.
<PAGE> 1
Exhibit 12-A
Page 1 of 6
BOOK 54 PAGE 1007
BOOK 17 PACE 715
Filed
MAR 17 1993
IN THE OFFICE OF
SECRETARY OF STATE
WEST VIRGINIA
ARTICLES OF INCORPORATION
OF
HAWG HAULING & DISPOSAL, INC.
I. The undersigned agrees to become a corporation by the name of
HAWG HAULING & DISPOSAL, INC.
II. The address of the principal Office of the Corporation will be located
at Route 1, BOX 84A, Buckhannon, Upshur County, West Virginia, 26201.
III. The purpose or purposes for which the Corporation is formed are as
follows:
1. To collect, gather, transport, save, treat, process, store, sell,
inject and dispose of water, brine, fluids and other waste products or discharge
generated in the search for or production of oil, gas, natural gasoline,
casing-head gas, condensate and related hydrocarbons; and to acquire, drill,
convert, operate, lease, sell, assign and/or plug and abandon waste disposal
wells for the injection and disposal of said water, brine, fluids and other
waste products or discharge.
2. To engage in businesses and activities of all kinds without
restriction, at all places within the United States for every purpose and in
every manner including, but without limitation for itself as principal, agent,
joint venturer, partner, lessor, lessee, consignee, wholesaler, jobber,
retailer, factor, broker, distributor, dealer, franchise holder, and in every
other manner and capacity, under its own name and/or under a trade name or
names.
3. To purchase, hold, use, sell, exchange, dispose of, improve,
lease, rent, mortgage and encumber real and
<PAGE> 2
Exhibit 12-A
Page 2 of 6
BOOK 54 PAGE 1008
BOOK 17 PAGE 716
personal property of every kind and character.
4. To borrow money and to make, accept, endorse, execute and issue
notes, bonds, debentures and other obligations, without limit, and to secure the
same; and to endorse, sell, discount, pledge, finance and turn to account in
every manner whatsoever the notes, contracts and obligations of others without
restrictions.
5. To employ, hire and appoint corporations, firms and individuals
in any and all parts of the world to act as agents for the Corporation in such
capacity and on such conditions that may be determined from time to time by the
Board of Directors.
6. To invest and deal with the funds of this Corporation in any
manner and to acquire by purchase or otherwise the stocks, bonds, debentures and
other securities and obligations of any government, state, municipality,
corporation, association or partnership, domestic or foreign, and, while owner
of such securities or obligations, to exercise all the rights, powers and
privileges of ownership, including, among other things, the right to vote
thereon for any and all purposes.
7. To lend money to other persons, partnerships, associations and
corporations secured by a mortgage or other lien on real estate, or pledge or
security interest on personal property, or without security, but only to the
extent permitted a corporation under the laws of this State.
8. To do and perform every other act and thing not inconsistent with
law which may at any time seen to the Board of Directors to be directly or
indirectly appropriate to promote, attain or exercise all of the objects,
purposes and powers set
<PAGE> 3
Exhibit 12-A
Page 3 of 3
BOOK 17 PAGE 717
BOOK 54 PAGE 1009
forth in this Agreement and conferred by law.
9. The enumeration in this Agreement of specific objects, purposes
and powers shall not be deemed to limit in any manner the general powers of the
Corporation conferred by the laws of the State of West Virginia. Each object,
purpose and power specified in each clause of this Agreement shall be construed
as a wholly independent and separate object, purpose and power and shall not be
limited by reference to or inference from any other provision of these Articles
of incorporation.
IV. Provisions for the regulation of the internal affairs of the
Corporation are;
1. The Corporation shall indemnify each member of the Board of
Directors and each officer of the Corporation now or hereafter serving as such,
who was, is or is threatened to be made a party to any threatened, pending, or
completed action, suit or proceeding, whether civil, criminal, administrative,
or investigative (including an action by, or in the right of, the Corporation),
by reason of the fact that he is or was a member of the Board of Directors,
officer, or agent of the Corporation or is or was serving at the request of the
Corporation as a member of the Board of Directors, officer or agent of another
corporation, partnership, joint venture, trust or other enterprise.
2. Said indemnification shall be against expenses (including
attorney's fees), judgments, fines, and amounts paid in settlement actually and
reasonably incurred by the aforementioned individuals in connection with such
action, suit or proceeding, including any appeal thereof, if they acted in good
faith and in a manner reasonably believed to be in, or not opposed to, the best
interest of the Corporation.
<PAGE> 4
Exhibit 12-A
Page 4 of 6
BOOK 54 PAGE 1010
BOOK 17 PAGE 718
3. No indemnification shall be made in respect to any claim, issue,
or matter as to which such person shall have been adjudged in such action, suit
or proceeding to be liable for gross negligence or wilful misconduct in the
performance of his duties to the Corporation, except to the extent that the
court in which such action or suit was brought shall determine upon application
that, despite the adjudication of liability and in view of all the circumstances
of the case, such person is fairly and reasonably entitled to indemnity for such
expenses that such court shall deem proper. Indemnity with respect to any
criminal action or proceeding will be provided only when the member of the Board
of Directors or officer had no reasonable cause to believe his act was unlawful.
4. The amount paid to any member of the Board of Directors, officer
or agent of the Corporation by way of indemnification shall not exceed the
actual, reasonable and necessary expenses incurred in connection with the matter
involved. The foregoing right of indemnification shall be in addition to, but
not exclusive of, any other right to which such member of the Board of Directors
or officer of the Corporation may otherwise be entitled by law.
V. The amount of the total authorized capital stock of the Corporation
shall be One Hundred Thousand Dollars ($100,000.00) which shall be divided in
One Thousand (1,000) shares of the par value of One Hundred Dollars ($100.00)
each.
VI. The full name and address of the incorporator and the number of shares
of stock subscribed for by him are as follows:
<PAGE> 5
Exhibit 12-A
Page 5 of 6
BOOK 54 PAGE 1011
BOOK 17 PAGE 719
<TABLE>
<CAPTION>
NAME ADDRESS NO. OF SHARES
---- ------- -------------
<S> <C> <C>
Scott E. Wilson P.0. BOX 1716 10
Clarksburg, WV 26302-1716
</TABLE>
VII. The existence of this Corporation is to be perpetual.
VIII. The address of the initial registered office of the Corporation is
Route 1, Box 84A, Buckhannon, Upshur County, West Virginia, 26201, and the name
of its initial registered agent at such address is Richard R. Hoffman.
IX. The number of directors constituting the initial Board of Directors of
the Corporation is three and the names and addresses of the persons who are to
serve as directors until the first annual meeting of the shareholders or until
their successor or successors are elected and shall qualify are:
<TABLE>
<CAPTION>
NAME ADDRESS
---- -------
<S> <C>
John L. Schwager 200 West Main Street
Clarksburg, WV 26301
Richard R. Hoffman Route 1, Box 84A
Buckhannon, WV 26201
Bridget D. Furbee 200 West Main Street
Clarksburg, WV 26301
</TABLE>
X. Notice or process shall be sent to Richard R. Hoffman, Route 1, Box
84A, Buckhannon, Upshur County, West Virginia, 26201.
THE UNDERSIGNED, for the purpose of forming a corporation under the laws
of the State of West Virginia, does make and file this ARTICLES OF
INCORPORATION, and has accordingly hereunto set his hand and seal this 15th day
of March, 1993.
/s/ Scott E. Wilson (SEAL)
------------------------------------
Scott E. Wilson
<PAGE> 6
Exhibit 12-A
Page 6 of 6
BOOK 54 PAGE 1012
BOOK 17 PAGE 720
STATE OF WEST VIRGINIA )
( TO-WIT:
COUNTY OF HARRISON )
I, Judy M. Osborn , a Notary Public of the said County of Harrison,
do certify that Scott E. Wilson, whose name is signed to the writing above,
bearing date the 15th day of March, 1993, has this day acknowledged the same
before me in my said county.
Given under my hand this 15th day of March, 1993.
[NOTARY PUBLIC SEAL] /s/ Judy M. Osborn
------------------------
NOTARY PUBLIC
March 24, 2002
-------------------------
This instrument was prepared by:
WATERS, WARNER & HARRIS
Scott E. Wilson
701 Goff Building
P. 0. Box 1716
Clarksburg, West Virginia, 26302
[ STAMP]
STATE OF WEST VIRGINIA, County of Upshur, To-Wit:
[STAMP] I, Debbie Thacker Wilfong, Clerk of the County
Commission of said County, do hereby certify that
the foregoing writing, with certificate thereto
annexed, was this day produced to me in my office
and duly admitted to record.
Witness my hand,
/s/ Debbie Thacker Wilfong
Clerk
----------------------------------------------------
<PAGE> 1
Exhibit 13-A
Page 1 of 1
CERTIFICATE OF FORMATION OF ENERGYNET, L.L.C.
This Certificate of Formation is being executed as of June 30, 1997,
for the purpose of forming a limited liability company pursuant to the Delaware
Limited Liability Company Act, 6 Del C. Sections 18-101, et seq.
The undersigned, being duly authorized to execute and file this
Certificate of Formation, hereby certifies as follows:
A. Name. The name of the limited liability company is EnergyNet, L.L.C.
(the "Company").
B. Registered Office and Registered Agent. The Company's registered
office in the State of Delaware is located at 1209 Orange Street, Wilmington,
Delaware 19801. The registered agent of the Company for service of process at
such address is The Corporation Trust Company.
C. Dissolution. The latest date on which the Company is to dissolve is
December 31, 2048.
D. L.L.C. Management Committee. The Company has an L.L.C. Management
Committee and the business and affairs of the Company shall be managed by or
under the direction of the L.L.C. Management Committee. Unless otherwise
specified by the L.L.C. Management Committee, no member of the Company, in such
capacity or by reason of his, her or its status, as such, shall have any right
or authority to act for or to bind the Company.
IN WITNESS WHEREOF, the undersigned has duly executed this Certificate
of Formation as of the day and year first above written.
/s/
-----------------------------------------
Organizer
ENERGYNET, L.L.C.
<PAGE> 1
Exhibit 16-A
Page 1 of 6
CONSENT IN LIEU OF A
SPECIAL MEETING OF THE
BOARD OF DIRECTORS OF
COMMONWEALTH GAS
SERVICES, INC.
The undersigned, being all of the members of the Board of Directors of
Commonwealth Gas Services, Inc. (the "Corporation"), hereby consent to and adopt
the following resolutions in lieu of action at a Special Meeting:
CHANGE OF CORPORATION'S NAME
WHEREAS, the Board of Directors of the Corporation has determined that
it would be advisable to amend the Certificate of Incorporation of the
Corporation to change the name of the Corporation to make it consistent with its
parent corporation's name.
NOW, THEREFORE, the undersigned, being all of the directors of the
Corporation, do unanimously agree as follows:
RESOLVED, that the Board of Directors of this Corporation
hereby recommends and declares it advisable that the Certificate of
Incorporation of this Corporation be amended to change the name of the
Corporation to Columbia Gas of Virginia, Inc.
RESOLVED, FURTHER, that the foregoing amendment is advisable
and its adoption is in the best interests of the Corporation and its
stockholder and, to effectuate the foregoing, it is hereby directed
that the foregoing amendment be considered at the next annual meeting
of the stockholder unless earlier approved by written consent in
accordance with Section 13.1-657 of the Code of Virginia 1950, as
amended; and
RESOLVED, FURTHER, that at any time prior to the filing of the
foregoing amendment to the Corporation's Certificate of Incorporation
with the State Corporation Commission of the Commonwealth of Virginia,
notwithstanding authorization of such amendment by the stockholder of
the Corporation, the Board of Directors of the Corporation may abandon
such amendment without further action by the stockholder of the
Corporation; and
RESOLVED, FURTHER, that after approval of such amendment by
the stockholder of the Corporation, the officers of the Corporation be,
and they hereby are, authorized and directed to execute, acknowledge
and file with the State Corporation Commission of the Commonwealth of
Virginia Articles of
<PAGE> 2
Exhibit 16-A
Page 2 of 6
Attest:
/s/ Andrew J. Sonderman
- --------------------------------------
Secretary
<PAGE> 3
Exhibit 16-A
Page 3 of 6
Amendment to evidence the foregoing amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, FURTHER, that the officers of the Corporation be,
and they hereby are, authorized and directed from time to time to
execute any and all documents and to take any and all other actions
necessary or appropriate to carry forward the foregoing resolutions.
EFFECTIVE DATE
RESOLVED, that the actions specified in the foregoing
resolutions be, and they hereby are, made effective on and as of the
effective date of this Consent.
IN WITNESS WHEREOF, the foregoing constitutes the actions of the Board
of Directors of the Corporation, effective as of the 16th day of January, 1998.
Date signed:
------------ -----------------------------
J. Bennett Johnston
------------ -----------------------------
William E. Lavery
/s/ Michael W. O'Donnell
------------ -----------------------------
Michael W. O'Donnell
/s/ Oliver G. Richard III
------------ -----------------------------
Oliver G. Richard III
/s/ Andrew J. Sonderman
------------ -----------------------------
Andrew J. Sonderman
------------ -----------------------------
James R. Thomas, II
/s/ Anthony Trubisz, Jr.
------------ -----------------------------
Anthony Trubisz, Jr.
/s/ Robert B. Wemyss
------------ -----------------------------
Robert B. Wemyss
<PAGE> 4
Exhibit 16-A
Page 4 of 6
Amendment to evidence the foregoing amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, FURTHER, that the officers of the Corporation be,
and they hereby are, authorized and directed from time to time to
execute any and all documents and to take any and all other actions
necessary or appropriate to carry forward the foregoing resolutions.
EFFECTIVE DATE
RESOLVED, that the actions specified in the foregoing
resolutions be, and they hereby are, made effective on and as of the
effective date of this Consent.
IN WITNESS WHEREOF, the foregoing constitutes the actions of the Board
of Directors of the Corporation, effective as of the 16th day of January, 1998.
Date signed:
Jan 12, 1998 /s/ J. Bennett Johnston
------------ -----------------------------
J. Bennett Johnston
------------ -----------------------------
William E. Lavery
------------ -----------------------------
Michael W. O'Donnell
------------ -----------------------------
Oliver G. Richard III
------------ -----------------------------
Andrew J. Sonderman
------------ -----------------------------
James R. Thomas, II
------------ -----------------------------
Anthony Trubisz, Jr.
------------ -----------------------------
Robert B. Wemyss
<PAGE> 5
Exhibit 16-A
Page 5 of 6
Amendment to evidence the foregoing amendment to the Corporation's
Certificate of Incorporation; and
RESOLVED, FURTHER, that the officers of the Corporation be,
and they hereby are, authorized and directed from time to time to
execute any and all documents and to take any and all other actions
necessary or appropriate to carry forward the foregoing resolutions.
EFFECTIVE DATE
RESOLVED, that the actions specified in the foregoing
resolutions be, and they hereby are, made effective on and as of the
effective date of this Consent.
IN WITNESS WHEREOF, the foregoing constitutes the actions of the Board
of Directors of the Corporation, effective as of the 16th day of January, 1998.
Date signed:
------------ -----------------------------
J. Bennett Johnson
/s/ William E. Lavery
------------ -----------------------------
William E. Lavery
------------ -----------------------------
Michael W. O'Donnell
------------ -----------------------------
Oliver G. Richard III
------------ -----------------------------
Andrew J. Sonderman
------------ -----------------------------
James R. Thomas, II
------------ -----------------------------
Anthony Trubisz, Jr.
------------ -----------------------------
Robert B. Wemyss
<PAGE> 1
Exhibit 18-A
Page 1 of 3
CERTIFICATE OF AMENDMENT
OF
RESTATED CERTIFICATE OF INCORPORATION
OF
TRISTAR VENTURES CORPORATION
TRISTAR VENTURES CORPORATION, a corporation organized and existing
under and by virtue of the General Corporation Law of the State OF Delaware (the
"Corporation"),
DOES HEREBY CERTIFY:
FIRST: That the Board of Directors of the Corporation (the "Board"), BY
unanimous written consent dated as of June 1, 1997, adopted resolutions
proposing and declaring advisable an amendment to part FOURTH of the Restated
Certificate of Incorporation of the 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 total number of shares of stock which the
corporation shall have authority to issue is Three Thousand
(3,000) and the par value of each of such shares is
Twenty-Five Dollars ($25.00) amounting in the aggregate to
Seventy Five Thousand Dollars ($75,000).
RESOLVED, FURTHER, that effective at the time of the filing of
the Certificate of Amendment setting forth this amendment to the
Restated Certificate of Incorporation (the "Effective Time"), each
share of the common stock of the Corporation, par value $25.00 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 three hundred
thirty three and one third (1/333 1/2) of a share of common stock of
the Corporation, par value $25.00 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 three
hundred thirty three and one third (1/333 1/3) of
<PAGE> 2
Exhibit 18-A
Page 2 of 3
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;
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 amendment 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 amendment to the Corporation's
Restated Certificate of Incorporation; and
RESOLVED, FURTHER, that the officers of the Corporation be,
and they hereby are, authorized and directed from time to time to
execute any and all documents and to take any and all other actions
necessary or appropriate to carry forward the foregoing resolutions.
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
<PAGE> 3
Exhibit 18-A
Page 3 of 3
January 15, 1997, in accordance with the provisions of Section 228(a) of the
General Corporation Laws of the State of Delaware.
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, TriStar Ventures Corporation has caused this
Certificate to be signed by Dr. Michael J. Gluckman, its President and Chief
Executive Officer, and attested by Mr. Tejinder S. Bindra, its Secretary, as of
this 8th day of July, 1997.
TRISTAR VENTURES CORPORATION
By: /s/ Michael J. Gluckman
------------------------------------
President and Chief Executive Officer
ATTEST:
/s/ Tejinder S. Bindra
- -----------------------------------
Secretary
<PAGE> 1
Exhibit D
1 of 5
AGREEMENT FOR FILING CONSOLIDATED
FEDERAL INCOME TAX RETURN AND FOR
ALLOCATION OF LIABILITIES AND BENEFITS
ARISING FROM SUCH CONSOLIDATED
TAX RETURN BETWEEN
COLUMBIA ENERGY GROUP
AND SUBSIDIARY COMPANIES
The following members of Columbia Energy Group, affiliated group of
corporations as described in Section 1504 of the Internal Revenue Code hereby
authorize their common parent corporation, Columbia Energy Group, 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>
COLUMBIA ENERGY GROUP . . . . . . . . . . . . . . . 13-1594808
COLUMBIA ATLANTIC TRADING CORPORATION . . . . . . . . . . 51-0122560
COLUMBIA ENERGY GROUP SERVICE CORPORATION . . . . . . . . 13-1596081
COLUMBIA LNG CORPORATION . . . . . . . . . . . . . . . . . 31-0808682
CLNG CORPORATION . . . . . . . . . . . . . . . . . . . . 51-0363075
COLUMBIA INSURANCE CORPORATION, LTD . . . . . . . . . . . 54-1846993
TRISTAR CAPITAL CORPORATION . . . . . . . . . . . . . . . 51-0331685
TRISTAR GAS TECHNOLOGIES, INC. . . . . . . . . . . . . . 51-0331689
COLUMBIA NETWORK SERVICES CORPORATION. . . . . . . . . . . 55-0752155
CNS MICROWAVE, INC. . . . . . . . . . . . . . . . . . . . 55-0753507
12355 SUNRISE VALLEY DRIVE, SUITE 300
RESTON, VA 20191-3420
COLUMBIA ELECTRIC CORPORATION . . . . . . . . . . . . . . . 55-0647910
TRISTAR PEDRICK LIMITED CORPORATION . . . . . . . . . . . 51-0314565
TRISTAR PEDRICK GENERAL CORPORATION . . . . . . . . . . . 51-0314105
TRISTAR FUEL CELLS CORPORATION . . . . . . . . . . . . . 51-0324211
TRISTAR BINGHAMTON GENERAL CORPORATION . . . . . . . . . 51-0324212
TRISTAR BINGHAMTON LIMITED CORPORATION . . . . . . . . . 51-0324213
TRISTAR GEORGETOWN GENERAL CORPORATION . . . . . . . . . 51-0324214
TRISTAR GEORGETOWN LIMITED CORPORATION . . . . . . . . . 51-0324215
TRISTAR VINELAND GENERAL CORPORATION . . . . . . . . . . 51-0324217
TRISTAR VINELAND LIMITED CORPORATION . . . . . . . . . . 51-0324218
TRISTAR RUMFORD LIMITED CORPORATION . . . . . . . . . . . 51-0324219
TVC NINE CORPORATION . . . . . . . . . . . . . . . . . . 51-0324220
TVC TEN CORPORATION . . . . . . . . . . . . . . . . . . . 51-0324221
205 VAN BUREN STREET, SUITE 120
HERNDON, VA 20170
COLUMBIA GAS OF KENTUCKY, INC. . . . . . . . . . . . . . 55-0139565
</TABLE>
<PAGE> 2
2 of 5
<TABLE>
<S> <C>
COLUMBIA GAS OF MARYLAND, INC. . . . . . . . . . . . . . 25-1093185
COLUMBIA GAS OF OHIO, INC. . . . . . . . . . . . . . . . . 31-0673990
COLUMBIA GAS OF PENNSYLVANIA, INC. . . . . . . . . . . . . 25-1100252
COLUMBIA GAS OF VIRGINIA, INC. . . . . . . . . . . . . . . 54-0344210
200 CIVIC CENTER DRIVE
COLUMBUS, OH 43215
COLUMBIA GULF TRANSMISSION COMPANY . . . . . . . . . . . . 74-1321143
COLUMBIA GAS TRANSMISSION CORPORATION . . . . . . . . . . 31-0802435
12801 FAIR LAKES PARKWAY
FAIRFAX, VA 22030-0146
COMMONWEALTH PROPANE, INC. . . . . . . . . . . . . . . . 54-0146483
COLUMBIA PROPANE CORPORATION . . . . . . . . . . . . . . . 61-0565214
9200 ARBORETUM PARKWAY, SUITE 140
RICHMOND, VA 23236
COLUMBIA NATURAL RESOURCES, INC. . . . . . . . . . . . . 52-1383102
ALAMCO, INC. . . . . . . . . . . . . . . . . . . . . . . 55-0615701
ALAMCO DELAWARE, INC. . . . . . . . . . . . . . . . . . . 51-0356489
HAWG HAULING & DISPOSAL, INC. . . . . . . . . . . . . . . 55-0723936
900 PENNSYLVANIA AVENUE
CHARLESTON, WV 25302
COLUMBIA ENERGY SERVICES CORPORATION . . . . . . . . . . 61-0573109
COLUMBIA ENERGY MARKETING CORPORATION . . . . . . . . . . 25-1770943
COLUMBIA ENERGY POWER MARKETING CORPORATION . . . . . . . 76-0553975
COLUMBIA SERVICE PARTNERS, INC. . . . . . . . . . . . . . 25-1787891
121 HILLPOINTE DRIVE, SUITE 100
CANONSBURG, PA 15317
</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 or
capital of a company including the effect of any particular feature of the
tax law, differences in tax rates, investment tax credits, etc.,
applicable to it. Separate return tax may be either positive or negative.
<PAGE> 3
(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 if
that member has sufficient taxable income in the carryback period to
utilize its negative separate return tax. A member of the group that
cannot utilize its negative separate return tax on a stand alone
basis either in the current period or the permitted carryback period
will not receive payment for their negative separate return tax
until that member generates sufficient taxable income to utilize its
losses. The benefits of the negative separate return tax not
utilized currently by the member will serve to reduce the tax
payment obligation of the positive separate return tax members. The
positive separate return tax member will record a liability to the
parent corporation for this reduction. The parent corporation will
record a liability for the negative separate return tax to the loss
member. Members with a negative separate return tax will not
participate in the allocation of the parent corporation loss, if
applicable, for that year.
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) 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. All other
parent corporation negative separate return tax will be allocated
currently to positive separate return tax members on the ratio of
their positive separate return tax to the total positive separate
return tax.
(d) Each member of the group, after intercompany eliminations, having
positive separate return tax will pay an amount equal to its
proportionate share of the consolidated tax liability to members
having negative separate return tax, for which the separate return
loss was utilized to offset consolidated taxable income,
<PAGE> 4
4 of 5
based on the ratio of its separate return tax to the total of the
separate return taxes of members having positive separate return
tax, assuming such loss companies meet the carryback requirement of
sub-section (b) above.
(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 companies which benefited from 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 denied such benefits in the year the items were generated.
(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 include an item-by-item modification of the return shall be
allocated in accordance with Section (2)(d) 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) Any current state income tax liability or benefit associated with a state
income tax return or franchise tax return involving more than one member
shall be allocated to such subsidiaries doing business in such state based
on their separate return liabilities and other principles set forth
herein.
No member is to be allocated a state tax which is greater than its state
tax liability had it filed a separate return, including the
carryback/carryforward period . All available credits are to be allocated
to the member generating the credit prior to the allocation of the System
tax liability if available on a separate return basis.
Similar to section 2(b) for federal income taxes, a member of the group
that cannot utilize its negative separate return tax on a stand alone
basis either in the current period or
<PAGE> 5
5 of 5
permitted carryback period will not receive payment for their negative
separate return tax until that member generates sufficient taxable income
to utilize its losses.
In the event the consolidated state income tax liability for any year is
redetermined subsequent to the allocation of the consolidated tax
liability reported for that tax year, the redetermined tax liability shall
be allocated pursuant to this Agreement as if the adjustments and
modifications related to this determination had been a part of the
original return. Any interest or penalties associated with underpayment or
overpayment of tax shall be allocated based on the allocation of the
underlying underpayment or overpayment of tax.
(8) This agreement shall apply to the consolidated federal and state income
tax returns to be filed for the calendar year 1996 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.
Pursuant to the requirements of the Public Utility Holding Company Act of
1935, the undersigned, duly authorized, have signed this agreement on
behalf of the company(s) indicated.
By:________________________________
DATE: December 31, 1997
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<SUBSIDIARY>
<NUMBER> 1
<NAME> CEG
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 3,887,400
<OTHER-PROPERTY-AND-INVEST> 549,400
<TOTAL-CURRENT-ASSETS> 1,707,700
<TOTAL-DEFERRED-CHARGES> 66,900
<OTHER-ASSETS> 400,900
<TOTAL-ASSETS> 6,612,300
<COMMON> 554,900
<CAPITAL-SURPLUS-PAID-IN> 754,200
<RETAINED-EARNINGS> 482,700
<TOTAL-COMMON-STOCKHOLDERS-EQ> 1,790,700
0
0
<LONG-TERM-DEBT-NET> 2,003,500
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 500
0
<CAPITAL-LEASE-OBLIGATIONS> 2,700
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 2,818,100
<TOT-CAPITALIZATION-AND-LIAB> 6,612,300
<GROSS-OPERATING-REVENUE> 5,053,600
<INCOME-TAX-EXPENSE> 118,900
<OTHER-OPERATING-EXPENSES> 4,544,200
<TOTAL-OPERATING-EXPENSES> 4,544,200
<OPERATING-INCOME-LOSS> 509,400
<OTHER-INCOME-NET> 40,400
<INCOME-BEFORE-INTEREST-EXPEN> 549,800
<TOTAL-INTEREST-EXPENSE> 157,600
<NET-INCOME> 273,300
0
<EARNINGS-AVAILABLE-FOR-COMM> 273,300
<COMMON-STOCK-DIVIDENDS> 49,900
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<EPS-PRIMARY> 4.93
<EPS-DILUTED> 4.90
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<SUBSIDIARY>
<NUMBER> 1
<NAME> CKY
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 115,200
<OTHER-PROPERTY-AND-INVEST> 0
<TOTAL-CURRENT-ASSETS> 56,800
<TOTAL-DEFERRED-CHARGES> 900
<OTHER-ASSETS> 7,900
<TOTAL-ASSETS> 180,800
<COMMON> 23,800
<CAPITAL-SURPLUS-PAID-IN> 200
<RETAINED-EARNINGS> 42,700
<TOTAL-COMMON-STOCKHOLDERS-EQ> 66,700
0
0
<LONG-TERM-DEBT-NET> 200
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 0
0
<CAPITAL-LEASE-OBLIGATIONS> 200
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 113,900
<TOT-CAPITALIZATION-AND-LIAB> 180,800
<GROSS-OPERATING-REVENUE> 156,200
<INCOME-TAX-EXPENSE> 7,000
<OTHER-OPERATING-EXPENSES> 133,100
<TOTAL-OPERATING-EXPENSES> 133,100
<OPERATING-INCOME-LOSS> 23,100
<OTHER-INCOME-NET> 100
<INCOME-BEFORE-INTEREST-EXPEN> 23,200
<TOTAL-INTEREST-EXPENSE> 4,600
<NET-INCOME> 11,600
0
<EARNINGS-AVAILABLE-FOR-COMM> 11,600
<COMMON-STOCK-DIVIDENDS> 0
<TOTAL-INTEREST-ON-BONDS> 0
<CASH-FLOW-OPERATIONS> 17,800
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<SUBSIDIARY>
<NUMBER> 1
<NAME> COH
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 755,900
<OTHER-PROPERTY-AND-INVEST> 0
<TOTAL-CURRENT-ASSETS> 624,000
<TOTAL-DEFERRED-CHARGES> 12,600
<OTHER-ASSETS> 116,900
<TOTAL-ASSETS> 1,509,400
<COMMON> 119,300
<CAPITAL-SURPLUS-PAID-IN> 0
<RETAINED-EARNINGS> 303,200
<TOTAL-COMMON-STOCKHOLDERS-EQ> 422,500
0
0
<LONG-TERM-DEBT-NET> 1,000
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 100
0
<CAPITAL-LEASE-OBLIGATIONS> 1,000
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 1,085,900
<TOT-CAPITALIZATION-AND-LIAB> 1,509,400
<GROSS-OPERATING-REVENUE> 1,425,800
<INCOME-TAX-EXPENSE> 29,300
<OTHER-OPERATING-EXPENSES> 1,315,800
<TOTAL-OPERATING-EXPENSES> 1,315,800
<OPERATING-INCOME-LOSS> 110,000
<OTHER-INCOME-NET> 700
<INCOME-BEFORE-INTEREST-EXPEN> 110,700
<TOTAL-INTEREST-EXPENSE> 29,000
<NET-INCOME> 52,400
0
<EARNINGS-AVAILABLE-FOR-COMM> 52,400
<COMMON-STOCK-DIVIDENDS> 0
<TOTAL-INTEREST-ON-BONDS> 0
<CASH-FLOW-OPERATIONS> 134,600
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<SUBSIDIARY>
<NUMBER> 1
<NAME> CMD
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 43,500
<OTHER-PROPERTY-AND-INVEST> 0
<TOTAL-CURRENT-ASSETS> 14,300
<TOTAL-DEFERRED-CHARGES> 0
<OTHER-ASSETS> 3,300
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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