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NATIONAL GRID USA AND SUBSIDIARIES
Consolidated Balance Sheet
At September 30, 2000
(Unaudited)
ASSETS
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(In Thousands)
<S> <C>
Utility plant, at original cost $5,198,773
Less accumulated provisions for depreciation and amortization
2,236,029
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2,962,744
Construction work in progress 50,760
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Net utility plant 3,013,504
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Investments:
Nuclear power companies, at equity 49,325
Decommissioning trust funds 46,888
Other investments, at cost 253,262
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Total investments 349,475
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Current assets:
Cash 64,886
Accounts receivable, less reserves of $17,652,000
and unbilled revenues 542,707
Fuel, materials, and supplies, at average cost 28,554
Prepaid and other current assets 29,873
Regulatory assets - purchased power obligations 103,789
Assets held for sale 197,851
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Total current assets 967,660
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Regulatory assets 1,675,126
Goodwill, net of amortization 2,021,397
Deferred charges and other assets 372,338
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$8,399,500
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CAPITALIZATION AND LIABILITIES
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Capitalization:
Common share equity:
Common shares, par value $1 per share $ 59,355
Paid-in capital 3,977,616
Retained earnings 50,533
Unrealized gain on securities, net 2,645
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Total common equity 4,090,149
Minority interests in consolidated subsidiaries 30,666
Cumulative preferred stock of subsidiaries 49,480
Long-term debt 1,042,075
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Total capitalization 5,212,370
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Current liabilities:
Long-term debt due within one year 15,291
Short-term debt 110,043
Accounts payable 269,307
Accrued taxes 10,063
Accrued interest 13,022
Dividends payable 1,973
Purchased power contract obligations 103,789
Other current liabilities 98,277
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Total current liabilities 621,765
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Deferred federal and state income taxes 639,998
Unamortized investment tax credits 56,578
Accrued Yankee companies' nuclear plant costs 300,700
Purchased power obligations 662,625
Other reserves and deferred credits 905,464
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$8,399,500
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