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NATIONAL GRID USA AND SUBSIDIARIES
Consolidated Balance Sheet
At September 30, 2000
(expressed in millions, rounded to hundred thousands of dollars)
(Unaudited, subject to adjustment)
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ASSETS
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Utility plant, at original cost $5,198.7
Less accumulated provisions for depreciation and amortization 2,236.0
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2,962.7
Construction work in progress 50.8
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Net utility plant 3,013.5
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Investments:
Nuclear power companies, at equity 49.3
Decommissioning trust funds 46.9
Other subsidiaries, at equity 0.5
Non-utility property and other investments 252.8
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Total investments 349.5
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Current assets:
Cash 64.9
Accounts receivable, less reserves of $17.7, and unbilled revenues
542.7
Fuel, materials, and supplies, at average cost 28.5
Prepaid and other current assets 29.9
Regulatory asset purchased power obligations 103.8
Assets held for sale 197.9
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Total current assets 967.7
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Regulatory assets 1,675.1
Goodwill, net of amortization 2,021.4
Deferred charges and other assets 372.3
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$8,399.5
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CAPITALIZATION AND LIABILITIES
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Capitalization:
Common share equity:
Common shares, par value $1 per share:
Authorized - 150,000,000 shares
Issued - 64,969,652 shares
Outstanding - 59,355,248 shares $ 59.4
Paid-in capital 3,977.6
Retained earnings 50.5
Accumulated other comprehensive income, net 2.6
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Total common share equity 4,090.1
Minority interests in consolidated subsidiaries 30.7
Cumulative preferred stock of subsidiaries 49.5
Long-term debt 1,042.1
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Total capitalization 5,212.4
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Current liabilities:
Long-term debt due within one year 15.3
Short-term debt 110.0
Accounts payable 269.3
Accrued taxes 10.1
Accrued interest 13.0
Dividends payable 2.0
Other current liabilities 98.3
Purchased power contract obligations 103.8
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Total current liabilities 621.8
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Deferred federal and state income taxes 640.0
Unamortized investment tax credits 56.6
Accrued Yankee nuclear plant costs 300.7
Purchased power obligations 662.6
Other reserves and deferred credits 905.4
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$8,399.5
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