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Previous: HARTFORD INDEX HLS FUND INC, NSAR-B, 2000-02-29 |
Next: TOTAL RETURN U S TREASURY FUND INC, 485BPOS, 2000-02-29 |
<PAGE> 1
File No. 69-333
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-3A-2
STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION UNDER
RULE U-3A-2 FROM THE PROVISIONS OF THE PUBLIC UTILITY
HOLDING COMPANY ACT OF 1935
-------------------------------------
TO BE FILED ANNUALLY PRIOR TO MARCH 1
-------------------------------------
CMS ENERGY CORPORATION
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to Rule
2, its statement claiming exemption as a holding company from the
provisions of the Public Utility Holding Company Act of 1935, and submits
the following information:
February 29, 2000
<PAGE> 2
2
1. NAME, STATE OF ORGANIZATION, LOCATION AND NATURE OF BUSINESS OF
CLAIMANT AND EVERY SUBSIDIARY THEREOF, OTHER THAN ANY EXEMPT WHOLESALE
GENERATOR (EWG) OR FOREIGN UTILITY COMPANY IN WHICH CLAIMANT DIRECTLY
OR INDIRECTLY HOLDS AN INTEREST.
(A) CMS ENERGY CORPORATION ("CMS ENERGY") WAS DULY INCORPORATED
UNDER THE LAWS OF THE STATE OF MICHIGAN IN 1987. CMS ENERGY IS A $6.1 BILLION
(SALES) ENERGY COMPANY WITH SUBSIDIARIES ENGAGED IN ELECTRIC UTILITY OPERATIONS,
GAS UTILITY OPERATIONS, OIL AND GAS EXPLORATION AND PRODUCTION, THE ACQUISITION,
DEVELOPMENT AND OPERATION OF INDEPENDENT POWER PRODUCTION FACILITIES, ENERGY
MARKETING AND TRADING AND THE TRANSPORTATION, STORAGE AND MARKETING OF NATURAL
GAS.
CMS Energy has two direct subsidiaries. The name, state of
organization and nature of business of CMS Energy's direct subsidiaries are
described below.
CMS ENTERPRISES COMPANY
A Michigan corporation which owns subsidiaries engaged in the development,
acquisition and management of energy-related businesses and projects worldwide.
CONSUMERS ENERGY COMPANY
A Michigan corporation engaged in the generation, purchase, transmission,
distribution and sale of electricity, and in the purchase, storage,
transmission, distribution and sale of natural gas, in the lower peninsula of
the State of Michigan.
(B) CMS ENTERPRISES COMPANY HAS 15 DIRECT SUBSIDIARIES. THE NAME,
STATE OF ORGANIZATION AND NATURE OF BUSINESS OF EACH SUBSIDIARY AND THEIR
SUBSIDIARIES ARE DESCRIBED BELOW:
CMS CAPITAL CORP.
A Michigan corporation formed to assist in securing financing for
CMS Energy Corporation and its subsidiaries and affiliates.
CMS Capital Financial Services, Inc.
A Michigan corporation engaged in the business of
making loans to homeowners and small businesses for
energy related goods or services.
- First Utility Finance, Inc.
CMS COMERCIALIZADORA DE ENERGIA S.A.(99%)
An Argentine company engaged in gas and electric marketing perations in
Argentina.
<PAGE> 3
3
CMS ELECTRIC AND GAS COMPANY
A Michigan corporation involved in purchasing, investing in and
operating gas and electric distribution systems worldwide. CMS
Electric and Gas Company has 6 subsidiaries:
CMS Netherlands Funding Company
A Michigan corporation formed as a holding company for CMS
Electric and Gas Company's international interests.
- Notera Holding B.V.
CMS Rio Grande de Sul Ltda
A Brazilian company engaged in the development and
investment in electric distribution projects in Brazil.
CMS Venezuela, S.A.
A Venezuelan company formed to operate Sistemo Electrico
Nueva Esparta C.A. (SENECA)
Compania de Inversiones en Energia Electrica S.A. (CIEESA)
An Argentine corporation formed as a holding company for
investments in electric distribution systems in Argentina.
- Distribuidora de Electricidad S.A. (99%)
- Inversora en Distribucion de Entre Rios S.A. (53.5%)
- Sociedad Inversora en Distribucion de Electricidad S.A.
(60%)
- Sociedad Inversora y Distribucion de Electricidad S.A.
(57%)
ENELMAR, S.A. (90%)
A Venezuela company formed to hold CMS Electric and Gas
Company's interest in the privatized electric
system of the State of Nueva Esparta.
Financial Joint Venture, L.L.C.(99%)
A Brazilian limited liability company formed for the
purposes of investments in Brazil.
- International Investments, Inc.
- CMS Brazil Energia Ltda.
- GIPAR, S.A (49.9%)
- Itacatu, S.A. (0.41%)
- GIPAR, S.A (50.1%)
- CMS Distribuidora Ltda.
- Energisa S.A.
CMS ENERGY ASIA PRIVATE LIMITED
A Singapore corporation involved in the development of electrical
generation and distribution opportunities, gas transmission, storage
and distribution opportunities, electrical and gas marketing
opportunities and oil and gas exploration and development
opportunities in Asia and the Pacific Rim.
CMS Energy India Development Company Private Limited
An Indian company formed to pursue development opportunities
in India.
<PAGE> 4
4
CMS ENERGY SOUTH AMERICA COMPANY (CESA)
A Cayman Islands Company formed to provide for the consolidation
of the development expenses and activity in Argentina and Brazil.
CMS Empreendimentos Ltda
A Brazilian company established as the Rio Office in Brazil.
CMS Enterprises Development Company S.A. (CEDC)
An Argentina company formed to handle the development work
in Argentina.
CMS ENERGY UK LIMITED
An United Kingdom limited liability company involved in the
development of energy-related businesses and projects in Europe,
Africa and the Middle East.
CMS ENTERPRISES DEVELOPMENT, L.L.C.
A Michigan limited liability company formed to invest in various
projects, including but not limited to, a zirconium recovery
project.
CMS GAS TRANSMISSION AND STORAGE COMPANY
A Michigan corporation organized to engage in the transmission,
storage and processing of natural gas. CMS Gas Transmission and
Storage Company has 23 direct subsidiaries:
AMPCO Marketing, LLC (50%)
A Michigan limited liability company engaged in marketing
methanol produced by Atlantic Methanol Production Company
LLC in the United States.
AMPCO Services, LLC (50%)
A Michigan limited liability company providing
administrative, employment and technical services to
Atlantic Methanol Production Company LLC.
Atlantic Methanol Capital Company (50%)
A Cayman Islands company formed to assist in the financing
relating to the Equatorial Guinea methanol plant.
CMS Antrim Gas Company
A Michigan corporation formed to design, construct and
operate the Central Carbon Dioxide Removal Plant in Otsego
County, Michigan.
CMS Field Services, Inc.
A Michigan corporation, formerly known as CMS Continental
Natural Gas, Inc., involved in the transmission and
distribution of natural gas and has the following 20
subsidiaries:
- Bighorn Gas Gathering, LLC (50%)
- Bradshaw Energy LLC (97.5%)
- CBC/Leon Limited Partnership (89%)
- Bright Star Partnership (4.57%)
- Cherokee Gas Processing LLC (92%)
- CMS Pipeline Company, LLC (99%)
- Continental Gas Processing, LLC (99%)
<PAGE> 5
5
- Continental Holdings Company
- Bighorn Gas Gathering, LLC (1%)
- CMS Pipeline Company, LLC (1%)
- Continental Gas Processing, LLC (1%)
- Continental Hydrocarbons, LLC (1%)
- Continental Laverne Gas Processing, LLC (1%)
- Continental Natural Gas Gathering, LLC (1%)
- Continental/Taurus Energy Company, LP (1%)
- Continental Hydrocarbons, LLC (99%)
- Continental Laverne Gas Processing, LLC (99%)
- Continental Natural Gas Gathering, LLC (99%)
- Continental/Oklahoma Natural Gas Gathering, LLC
- Foss Joint Venture (30%)
- Continental/Taurus Holdings Company, LLC
- Continental/Taurus Energy Company, LP (99%)
- Fort Union Gas Gathering, LLC (33.33%)
- Heritage Gas Gathering LLC
- Tekas Pipeline, LLC
- Hillsboro Gas Gathering System (23.7064%)
- Laubhan Friesen Gas Gathering System (41%)
- Leon Limited Partnership I (50%)
- Bright Star Partnership (5.43%)
- Moody Gas Gathering System (57.1632%)
- Roaring Creek Gas Services LLC
- Cherokee Gas Processing LLC (8%)
- Warrel Gas Gathering System (43.65%)
CMS Gas Argentina Company
A Cayman Islands company with an equity interest in
Transportadora de Gas del Norte S.A., an Argentine company,
which provides natural gas transmission services to the
northern and central parts of Argentina.
- Aguas de Chile Limitada (0.01%)
- Compania de Inversiones CMS Energy Chile Limitada
(1%), a Chilean company
- Transportadora de Gas del Norte S.A.(TGN) (29.4%)
An Argentine company that provides natural gas
transmission services to the northern and central parts
of Argentina and owns 2,600 miles of natural gas
pipeline.
CMS Goldfields Gas Transmission Company (Inactive)
A Michigan corporation formed for the purpose of owning CMS
Goldfields Gas Transmission B.V.
CMS Grands Lacs Holding Company
A Michigan corporation involved as a General Partner in the
Grands Lacs Limited Partnership, a Michigan limited
partnership.
CMS Jackson Pipeline Company
A Michigan corporation involved as a General Partner in
Jackson Pipeline Company, a Michigan general partnership.
<PAGE> 6
6
CMS Marysville Gas Liquids Company
A Michigan corporation formed to hold interests in
Marysville Fractionation Partnership and in St. Clair
Underground Storage Partnership.
- Marysville Fractionation Partnership (51%)
- St. Clair Underground Storage Partnership (51%)
CMS Methanol Company
A Cayman Islands corporation formed to hold interest in
a methanol project in Equatorial Guinea.
- Atlantic Methanol Associates LLC (50%)
- Atlantic Methanol Production Company LLC (90%)
CMS Saginaw Bay Company
A Michigan corporation involved as a General Partner in
the Saginaw Bay Area Limited Partnership, a Michigan
limited partnership.
CMS Saginaw Bay Lateral Company
A Michigan corporation involved as a Limited Partner in
the Saginaw Bay Lateral Limited Partnership, a Michigan
limited partnership.
CMS TriState Canada General Company
A Michigan corporation formed to hold the general
partner interest in the Canadian portion of a general
partnership to hold TriState Pipeline assets in Canada.
- TriState Canada Gas Pipeline Ltd (66.67%)
Financial Joint Venture, LLC (1%)
See description under CMS Electric and Gas.
Grands Lacs Limited Partnership (49%)
A Michigan limited partnership formed to plan, develop,
finance, construct, expand, own, operate, maintain and
repair the Grands Lacs gas storage facility.
Guardian Pipeline, LLC (33.33%)
A Michigan limited liability corporation formed to own
and operate an interstate natural gas pipeline from
Illinois to Wisconsin.
Michigan Intrastate Lateral System Partnership (50%)
A Michigan general partnership, formerly known as
Michigan Intrastate Lateral General Partnership,
acquired as part of the acquisition of the Spartan
Intrastate Pipeline and the Mackinaw Energy System.
- Saginaw Bay Lateral Limited Partnership (10%)
Nitrotec Corporation (50%)
A Delaware corporation formed to invest in plants that
extract helium from natural gas.
Otsego EOR LLC (25%)
A Michigan limited liability company formed as an
enhanced oil-recovery project whose activities involve
flooding depleted oil reservoirs with carbon dioxide
consisting of three oil reservoirs and pipeline and
compression facilities located in Otsego County,
Michigan.
<PAGE> 7
7
Panhandle Eastern Pipe Line Company
A Delaware corporation formed for the transmission of
natural gas and has the following 6 direct subsidiaries.
CMS Panhandle Eastern Resources, Inc.
A Delaware company formed to provide financing for its
affiliated companies.
CMS Panhandle Storage Company
A Delaware company formed to act as a partner in a
natural gas storage field.
CMS Trunkline Pipeline Holdings, Inc.
A Delaware company formed to act as assignee from
Trunkline AP Pipeline Company.
Pan Gas Storage Company
A Delaware company formed to develop and operate
Borchers North Storage Field.
- Lee 8 Storage Partnership(40%)
Trunkline Field Services Company
A Delaware company formed to operate the Trunkline's liquid
separation facilities in St. Mary's Parish, LA.
Trunkline Gas Company
A Delaware corporation formed for the transmission of natural
gas.
- CMS Trunkline Gas Resources, Inc.
Trunkline LNG Company
A Delaware company formed for the importation and
regasification of LNG.
TriState Pipeline, LLC (66-2/3%)
A Michigan limited liability company formed to hold interests
in the TriState Pipeline.
Western Australia Gas Transmission Company I
A Cayman Islands corporation formed to hold interests in a
natural gas pipeline project in Australia and the Atacama
Project in Chile and has the following 3 direct
subsidiaries:
- CMS Gas Transmission del Sur Company (60%)
- Atacama Finance Co.(40%)
- CMS Atacama Company (40%)
- CMS Gas Transmission of Australia Holdings Company
- CMS Gas Transmission of Australia
- Compania de Inversiones CMS Energy Chile
Limitada (99%), a Chilean company
- Administradora Proyecto Atacama S.A. (50%)
- CMS Servicios de Agua de Chile Compania
Limitada
- Gasoducto Atacama Compania Limitada LLP (50%)
- Nor Oeste Pacifico Generacion de Energia
Limitada (50%)
- Energex Co.(20%)
- Gasoducto Cuenca Noroeste Limitado LLP (50%)
- Gasoducto Cuenca Noroeste Limitada Argentine
Branch
<PAGE> 8
8
- CMS International Financial Services Company
- CMS Luxembourg SARL
- Valandrid B.V.
- CMS Goldfields Gas Transmission Australia
Pty. Ltd.
- SCP Investments (No. 1) Pty. Ltd.(45%)
- SCP Investments (No. 2) Pty. Ltd.
- Southern Cross Pipelines
Australia Pty. Ltd.
- Goldfields Gas
Transmission
Joint Venture
(66.664%)
- SCP Investments (No. 3) Pty. Ltd.
- Southern Cross Pipelines (NPL)
Australia Pty. Ltd.
- Goldfields Gas
Transmission
Joint Venture
(25.493%)
- Goldfields Gas Transmission Pty. Ltd.
- CMS TriState Canada Unlimited Company
- TriState Canada Limited Partnership (66%)
CMS GENERATION CO.
A Michigan corporation engaged in the development of and investment in
cogeneration and other independent power generation projects both
domestic and foreign and has 36 direct subsidiaries:
CMS Centrales Termicas S.A. (99%)
An Argentine company formed to own an interest in a
240 MW natural gas/fuel oil-fired electric power plant
near Mendoza, Argentina.
CMS Generation Altoona Company (Inactive)
A Michigan corporation formed to develop, construct,
own, operate and maintain a bituminous coal,
bituminous coal waste or other solid fuel-burning
facility.
CMS Generation Chateauguay Company
A Michigan corporation involved as a General Partner
in KES Chateauguay, LP, a limited partnership.
CMS Generation Filer City, Inc.
A Michigan corporation involved as a General Partner
in the T.E.S. Filer City Station Limited Partnership,
a limited partnership which is the owner of the 54
megawatt (net) wood chip and coal-fired electric
generating station in Filer City, Michigan.
CMS Generation Filer City Operating Company
A Michigan corporation formed to operate a coal and
wood waste-fueled power plant near Filer City,
Michigan owned by the T.E.S. Filer City Station
Limited Partnership.
<PAGE> 9
9
CMS Generation Genesee Company
A Michigan corporation involved as a General Partner in the
Genesee Power Station Limited Partnership which owns and operates
a 35 megawatt (net) waste wood-fired electric generating facility
located in Genesee County, Michigan.
CMS Generation Grayling Company
A Michigan corporation involved as a General Partner
in Grayling Generating Station Limited Partnership
which owns a 36 megawatt (net) waste-wood fueled power
plant in Grayling, Michigan. Grayling Generating
Station Limited Partnership owns GGS Holdings Company,
a Michigan corporation, which is General Partner in
AJD Forest Products Limited Partnership that operates
a sawmill adjacent to the Grayling Generating Station
and also supplies waste wood fuel to the project.
Grayling Generating Station Limited Partnership is a
Limited Partner in AJD Forest Products Limited
Partnership.
CMS Generation Grayling Holdings Company
A Michigan corporation involved as a Limited Partner
in Grayling Generating Station Limited Partnership.
CMS Generation Holdings Company
A Michigan corporation involved as a Limited Partner
in various partnerships and in the following
companies:
- CMS Centrales Termicas SA (1%)
- CMS Generation SA (0.01%)
- Genesee Power Station LP (48.75%)
- GPS Newco, LLC (25%)
- GPS Newco, LLC (50%)
- Lyonsdale Energy LP (49%)
- McCook Cogeneration Station, LLC (50%) (Inactive)
- Moapa Energy Limited Partnership (1%)
- Metro East, LLC (50%)(Inactive)
- Mon Valley Energy LP (49.5%)(Inactive)
- Moose River Properties, Inc. (50%)
- Oxford/CMS Development LP (1%)
CMS Generation Honey Lake Company
A Michigan corporation with a General Partnership
interest and a Limited Partnership interest in HL
Power Company, a California limited partnership which
uses waste wood and geothermal fluid to generate a 30
megawatt (net) electric generating station in Lassan
County, California. Also involved as General Partner
in Honey Lake Energy I LP, and Honey Lake Energy II
LP, both Michigan limited partnerships formed to own
limited partnership interests in HL Power Company.
CMS Generation Investment Company I
A Cayman Islands company involved as a holding company
for CMS Generation overseas investments and has 17
direct subsidiaries that engage in the construction,
ownership or operation of various power projects in
the Philippines, India, Morocco, Thailand, United Arab
Emirates, Ghana and Australia:
<PAGE> 10
10
- Aguas de Chile Limitada (99.99%)
- Atacama Finance Company (16%)
- CMS Generation Jegurupadu I Limited
Duration Company, a Cayman Islands company (99%)
- Jegurupadu O&M Company Mauritius, a Mauritius
company (50%)
- CMS Generation Jegurupadu II Limited Duration
Company, a Cayman Islands company (99%)
- Jegurupadu O&M Company Mauritius, a Mauritius
company (50%)
- CMS Generation Jorf Lasfar I Limited Duration
Company, a Cayman Islands company (99%)
- Jorf Lasfar Power Energy Handelsbolag (50%)
- Jorf Lasfar I Handelsbolag (50%)
- Jorf Lasfar Handelsbolag (50%)
- CMS Generation Jorf Lasfar II Limited Duration
Company, a Cayman Islands company (99%)
- Jorf Lasfar Power Energy Handelsbolag (50%)
- Jorf Lasfar I Handelsbolag (50%)
- Jorf Lasfar Handelsbolag (50%)
- CMS Generation Jorf Lasfar III Limited Duration
Company, a Cayman Islands company (50%)
- Jorf Lasfar Operations Handelsbolag
- CMS Generation Loy Yang Holdings 1 Ltd., a
Cayman Islands company
- CMS Generation Loy Yang Holdings 2 Ltd., a
Cayman Islands company
- CMS Generation Neyveli Ltd., a Mauritius
company (99%)
- ST CMS Electric Company Private Limited (50%)
- CMS Servicios de Aguas de Chile Limitada,
formed in Chile to hold marine concession (beach
access and water extraction) for desalinization
plant.
- CMS Takoradi Investment Company, a Cayman
Island's company formed for the purposes of
financing structure for the Takoradi project.
- CMS Takoradi Investment Company II, a Cayman
Island's company formed for the purposes of
financing structure for the Takoradi project.
- CMS Generation Taweelah Limited, a Cayman
Islands company
- Emirates CMS Power Company, a United Arab
Emirates company (40%)
- CMS Generation Taweelah Limited I, a Cayman
Islands company
- Energex Co. (16%)
- Energiaktiebolaget CMS, a Swedish Company
- Monetize Limited, a Mauritius company
- Jegurupadu O&M Company, a Mauritius company (99%)
- Scudder Latin American Power I-P LDC (25%)
<PAGE> 11
11
CMS Generation Investment Company II
A Cayman Islands company engaged as a
holding company for 1% ownership interests
in the companies described above as being
owned 99% by CMS Generation Investment
Company I.
- CMS Gas Transmission del Sur Company (40%)
CMS Generation Investment Company III
A Cayman Islands company engaged to
facilitate the construction, ownership and
operation of the GVK Industries Project in
Jegurupadu, Andhra Pradesh, India of a
natural gas/liquid fuel combined cycle
plant 235 MW ("GVK") and has one direct
subsidiary with an ownership interest in
GVK.
- Jegurupadu CMS Generation Company Ltd., a
Mauritius company
CMS Generation Lyonsdale Company
A Michigan corporation involved as a
General Partner in the Lyonsdale Energy
Limited Partnership which owns and operates
a 19 MW (net) waste wood-fired electric
generating facility in Lyonsdale, New York.
CMS Generation Montreal Company
A Michigan corporation that owns and
operates a waste wood recovery facility in
the greater Montreal, Quebec, Canada area.
CMS Generation Mon Valley Company
A Michigan corporation involved as General
Partner in the Mon Valley Energy Limited
Partnership formed to develop, construct,
finance and operate the Mon Valley Project,
an 80 megawatt (net) coal fired cogeneration
plant in Pennsylvania.
CMS Generation Recycling Company
A Michigan corporation involved as a member
of Mid-Michigan Recycling, LLC, a Michigan
limited liability company, formed to supply
waste wood fuel for the Genesee Power
Station Limited Partnership.
CMS Generation SA (99.99%)
An Argentine company formed to carry out on
its own account or that of third parties
investments in energy-related businesses
located primarily in South America.
- Hidroinvest SA, an Argentine company (25%)
Compania de Inversiones en Energia Electrica
S.A. (CIEESA)(1%)
See description under CMS Electric and Gas
above.
Dearborn Industrial Energy, LLC
A Michigan limited liability corporation
formed to own and operate the power project
at the Ford/Rouge complex.
Exeter Management Company (50%)
A Connecticut corporation involved as a
General Partner in the Exeter Energy Limited
Partnership which owns and operates a 26
megawatt (net) tire-burning facility in
Sterling, Connecticut.
<PAGE> 12
12
Honey Lake Energy I LP (1%)
See description under CMS Generation Honey Lake
Company above.
Honey Lake Energy II LP (1%)
See description under CMS Generation Honey Lake
Company above.
HYDRA-CO Enterprises, Inc.
A New York corporation engaged in the ownership and/or
operation, by itself or with others, of one or more
cogeneration, small hydro or alternate energy
production facilities through partnership interests
and ownership of domestic corporations. HYDRA-CO
Enterprises, Inc. owns 26 subsidiaries that are
involved in the development, ownership, management or
operation of independent power projects located in
seven states and in Jamaica:
- Benton Falls Associates (50% GP)
- Caribbean Electric Power (40% GP)
- CMS Generation Stratton Company
- Stratton Energy Associates (20% GP & 15% LP)
- Cogent Little Falls (49.99% GP)
- Copenhagen Associates (49.99% LP)
- Craven County Wood Energy LP (44.99% LP)
- HCE-Appomattox, Inc.
- Appomattox River Associates LP(1% GP & 54.5% LP)
- HCE-Biopower, Inc.
- IPP Investment Partnership (51%)
- HCE-Hudson, Inc.
- Curtis/Palmer Hydroelectric Company LP
(12.5% GP)
- HCE-Imperial Valley, Inc.
- Imperial Resource Recovery Associates, LP
(1.231% LP)
- HCE-Jamaica Development, Inc.
- HCE-Lakewood, Inc.
- CMS Generation Lakewood Company
- HCE-Rockfort Diesel, Inc.
- HYDRA-CO Generation, Inc. (Inactive)
- Hydro Power Associates (49.99% GP)
- Imperial Resource Recovery Associates, LP
(39.269% LP)
- IPP Investment Partnership (49%)
- Cogent Little Falls (0.01% GP)
- Copenhagen Associates (0.01% LP)
- Craven County Wood Energy LP (0.01% LP)
- Hydro Power Associates (0.01% GP)
- Lyonsdale Associates (0.01% GP)
- Jamaica Energy Team Limited (59.7%)
- Little Falls Hydropower Associates (33.33% GP)
- Lock 17 Group (33.33% GP)
- Little Falls Hydropower Associates (1%)
- Lock 17 Management Group (33.33% GP)
- Lyonsdale Associates (49.99% GP)
- New Bern Energy Recovery, Inc.
<PAGE> 13
13
- Craven County Wood Energy LP (5%)
- PowerSmith Cogeneration Project, LP (8.75% LP)
- Windpower Partners 1988 (22.73% LP)
- Windpower Partners 1989 (8.5346% LP)
Jorf Lasfar Operations Handelsbolag (99%)
See above under CMS Generation Jorf Lasfar III LDC.
McCook Cogeneration Station, LLC (50%)(Inactive)
A Michigan limited liability company formed to
develop and own a 40 megawatt (net) waste wood fueled
electric generating facility located in Cook County,
Illinois.
McCook Waste Wood Recovery Facility, LLC (50% Member)
A Michigan limited liability company formed to
develop and own a waste wood recycling and processing
facility where waste wood will be received, manually
and mechanically separated and then recycled or
processed for use at McCook Cogeneration Station, LLC
MCV2 Development Company Partnership (58.68%)
A Michigan partnership formed to develop, lease,
sell, exchange or otherwise dispose of the MCV2
facilities and properties, to assign to one or more
MCV2 Project companies all or a portion of the
Partnership's rights under the Development Agreements
and to undertake any and all other activities
necessary, incidental, convenient or advisable to
effectuate and carry out such purpose.
Metro East, LLC (50%)(Inactive)
A Michigan limited liability company formed to
develop and own a 60 megawatt (net) waste wood and
waste coal fueled electric generating facility
located in the City of Madison, Illinois.
Mid-Michigan Recycling, LLC
A Michigan limited liability company involved in
supplying waste wood fuel for the Genesee Power
Station Limited Partnership.
Oxford/CMS Development LP (99%)
A Delaware partnership involved as a 48% limited
partner in Exeter Energy LP which owns and operates a
31.3 MW tire-fueled cogeneration plant in Sterling,
Connecticut.
- Exeter Energy LP (48% LP)
- Moapa Energy LP (99%)
Oxford Tire Recycling, Inc. (Inactive)
A Delaware corporation engaged in tire collection,
shredding and storage, the sale of used and shredded
tires, and related business activities.
Oxford Tire Recycling of Massachusetts, Inc.
A Delaware corporation engaged in waste tire
collection, shredding and storage, the sale of used
and shredded tires, and related business activities.
Oxford Tire Supply, Inc.
A Delaware corporation engaged in trucking and
hauling used scrap tires and sorting and grading
tires for resale.
<PAGE> 14
14
Scudder Latin American Power I-C, LDC (25%)
An Investment Fund formed to invest (primarily passive) in
electric generating facilities and the electric infrastructure in
Latin America and the Caribbean.
Taweelah A2 Operating Company
A Michigan corporation formed to operate the Taweelah
A2 electric generating units in Abu Dhabi, United Arab Emirates.
CMS LAKE MUSKEGON COMPANY
A Michigan corporation formed to develop land located in the City of
Muskegon, Michigan.
- Lake Muskegon Community, LLC (25%)
CMS LAND COMPANY
A Michigan corporation formed to act as a repository for any unused
real property formerly owned by Consumers Power and hold the same for
possible non-utility development.
Bay Harbor Company, LLC (50% Member)
A Michigan limited liability company which is the owner and developer
of Bay Harbor, a real estate development.
Bay Harbor Village Company, LLC (25%).
A Michigan limited liability company involved in the retail
shop, restaurant and residential real estate aspects of the Bay
Harbor Resort development
CMS MARKETING, SERVICES AND TRADING COMPANY
A Michigan corporation involved in providing gas, electric, oil and
coal marketing, risk management and energy management services and has
6 subsidiaries:
CMS MST Engineering Company
A Michigan corporation formed to provide professional engineering
services which includes system engineering design and energy
consulting.
CMS Texon Company
A Michigan corporation involved as a General Partner in Texon,
LP, a Texas limited partnership engaged in transporting,
processing and marketing of crude oil and natural gas liquids and
services related thereto.
- Texon Distributing LP (1%)
<PAGE> 15
15
CMS Viron Corporation
A Missouri corporation formed to provide
services in the areas of energy usage
analysis and the engineering and
implementation of energy conservation
measures.
Enline Energy Solutions, LLC (50%)
A Texas limited liability company engaged in
purchasing, transporting, storing, selling,
brokering and marketing natural gas, oil,
propane and electricity and energy-related
consulting.
PremStar Energy Canada Ltd.(50%)
A Canadian corporation engaged in
purchasing, transporting, storing, selling,
brokering and marketing natural gas in North
America and energy-related consulting.
- Energistics Group, Inc.
Texon Distributing LP (49%)
A Delaware limited partnership engaged in
transporting, processing and marketing crude
oil and natural gas liquids and services
related thereto.
CMS OIL AND GAS COMPANY (FORMERLY KNOWN AS CMS NOMECO OIL & GAS CO.)
A Michigan corporation engaged in the exploration, development,
acquisition and production of oil and natural gas in the U.S. and in
foreign countries through partnership interests and ownership of
domestic corporations and foreign companies. CMS Oil and Gas Company
owns 8 direct subsidiaries that are either domestic corporations or
foreign companies:
CMS Oil and Gas (Holdings) Ltd.
A Cayman Islands company, formerly known as
CMS NOMECO Holdings Ltd., engaged as a
holding company for 9% ownership in CMS
NOMECO Venezuela LDC and 1% ownership
interests in the Cayman Island limited
duration companies described below as
subsidiaries of CMS Oil and Gas
(International) Ltd.
CMS Oil and Gas (International) Company
A Texas corporation, formerly known as CMS
NOMECO International, Inc., engaged as a
holding company for 6 subsidiaries that
engage in the exploration and production of
oil and natural gas in Africa:
- CMS NOMECO International Congo Holdings,
Inc., a Texas corporation
- CMS NOMECO Congo, Inc., a Delaware
corporation
- CMS Oil and Gas (Cameroon) Ltd., formerly
known as CMS NOMECO Cameroon, Ltd., a
Cayman Islands company
- CMS Oil and Gas (Cote d'Ivoire) Ltd,
formerly known as CMS NOMECO Cote D'Ivoire
Ltd., a Cayman Islands company
- CMS Oil and Gas International
(Transportation) Company, formerly known
as CMS NOMECO International
Transportation, Inc., a Texas corporation
<PAGE> 16
16
- CMS Oil and Gas International (Tunisia)
Company, formerly known as CMS NOMECO
International Tunisia, Inc., a Texas
corporation
CMS Oil and Gas (International) Ltd.
A Cayman Islands company, formerly known as
CMS NOMECO International, Ltd., engaged as a
holding company for 8 subsidiaries that are
Cayman Island limited duration companies
that principally engage in the exploration
and production of oil and natural gas in
South America and West Africa:
- CMS NOMECO Congo LDC (99%)
- CMS NOMECO Venezuela LDC (91%)
- CMS Oil and Gas (Alba) LDC (99%),
formerly known as CMS NOMECO Alba LDC
- CMS Oil and Gas (Argentina) LDC (99%),
formerly known as CMS NOMECO Argentina LDC
- CMS Oil and Gas (Congo) Ltd (99%),
formerly known as CMS NOMECO Congo Ltd.
- CMS Oil and Gas (Ecuador) LDC (99%),
formerly known as CMS NOMECO Ecuador LDC
- CMS Oil and Gas (E.G.) LDC (99%), formerly
known as CMS NOMECO EG LDC
- CMS Oil and Gas (E.G.) Ltd (99%), formerly
known as CMS NOMECO EG Ltd.
CMS Oil and Gas (Pipeline) Company
A Michigan corporation, formerly known as
CMS NOMECO Pipeline Company, formed to hold
ownership interests in various natural gas
pipelines located in Michigan.
Explotaciones CMS Oil and Gas Company
A Delaware corporation, formerly known as
Explotaciones CMS NOMECO, Inc., engaged in
the exploration and production of oil and
natural gas in Colombia.
NOMECO China Oil Co.
A Michigan corporation formed to pursue oil
and natural gas exploration and production
opportunities in China.
NOMECO Ecuador Oil Company
A Michigan corporation formed to pursue
exploration and production of oil and
natural gas in Ecuador.
Terra Energy, Ltd.
A Michigan corporation engaged in the
exploration and production of natural gas in
Michigan. Terra Energy Ltd. has 13
subsidiaries:
- Eagle Productions, Inc. (20%)
- Energy Acquisition Operating Corporation
- J.R. Productions, Inc. (20%)
- Kristen Corporation
- Newaygo/Oceana Pipeline LP (43.77%)
- Northwest Operations, Inc. (20%)
- Phoenix Operations, Inc. (40%)
- State 26 Production Co. (20%)
- Terra-Hayes Pipeline Company (26.58%)
- Terra-Westside Processing Co. Partnership
(15%)
<PAGE> 17
17
- Terra Pipeline Company
- Thunderbay Pipeline Company LLC (10%)
- Wellcorps LLC(55%)
CMS RESOURCE DEVELOPMENT COMPANY
A Michigan corporation formed to pursue and develop various power
sources outside the United States.
MONARCH MANAGEMENT COMPANY
A Michigan corporation which houses several investments whose
principal business is the provision of services to energy and other
regulated entities.
(C) THE CONSOLIDATED OPERATIONS OF CONSUMERS ENERGY COMPANY ("CONSUMERS")
ACCOUNT FOR THE LARGEST SHARE OF CMS ENERGY'S TOTAL ASSETS, REVENUES AND INCOME.
CONSUMERS HAS EIGHT SUBSIDIARIES. THE NAME, STATE OF ORGANIZATION AND NATURE OF
BUSINESS OF CONSUMERS' SUBSIDIARIES ARE DESCRIBED BELOW:
CMS ENGINEERING CO.
A Michigan corporation engaged in offering design, engineering,
project management and related construction services to natural gas
utilities, natural gas exploration and production companies, and other
energy businesses.
CMS MIDLAND HOLDINGS COMPANY
A Michigan corporation involved as a Limited Partner in the First
Midland Limited Partnership, a Delaware limited partnership, a
partnership that leases assets to the Midland Cogeneration Venture
Limited Partnership, a Michigan limited partnership.
CMS MIDLAND, INC.
A Michigan corporation engaged as a General Partner in the Midland
Cogeneration Venture Limited Partnership, a Michigan limited
partnership.
CONSUMERS ENERGYGUARD SERVICES, INC.
A Michigan corporation formed for the purpose of marketing
EnergyGuard, a residential bill payment insurance product to
Consumers' residential customers.
ES SERVICES COMPANY
A Michigan corporation formed for the purpose of offering design,
engineering, project management and related services primarily to
electric utilities and generation facilities.
HURON HYDROCARBONS, INC.
A Michigan corporation involved with others to use the expanded
capacity of the underground caverns at the Marysville Gas Reforming
Plant located in Marysville, Michigan for commercial storage of liquid
hydrocarbons and to use certain hydrocarbon fractionation facilities
at the plant.
<PAGE> 18
18
MEC DEVELOPMENT CORP.
A Michigan corporation which previously held assets
transferred to and holder of certain bonds issued by
the Midland Cogeneration Venture Limited Partnership,
a Michigan limited partnership.
MICHIGAN GAS STORAGE COMPANY
A Michigan corporation and a natural gas company
within the meaning of the Natural Gas Act engaged in
the interstate transportation and storage of gas for
a number of customers including Consumers.
<PAGE> 19
19
2. A BRIEF DESCRIPTION OF THE PROPERTIES OF CLAIMANT AND EACH OF
ITS SUBSIDIARY PUBLIC UTILITY COMPANIES USED FOR THE GENERATION, TRANSMISSION
AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE, OR FOR THE PRODUCTION,
TRANSMISSION AND DISTRIBUTION OF NATURAL OR MANUFACTURED GAS, INDICATING THE
LOCATION OF PRINCIPAL GENERATING PLANTS, TRANSMISSION LINES, PRODUCING FIELDS,
GAS MANUFACTURING PLANTS, AND ELECTRIC AND GAS DISTRIBUTION FACILITIES,
INCLUDING ALL SUCH PROPERTIES WHICH ARE OUTSIDE THE STATE IN WHICH CLAIMANT AND
ITS SUBSIDIARIES ARE ORGANIZED AND ALL TRANSMISSION OR PIPELINES WHICH DELIVER
OR RECEIVE ELECTRIC ENERGY OR GAS AT THE BORDERS OF SUCH STATE.
(A) CLAIMANT HAS NO DIRECTLY OWNED PROPERTIES USED FOR SUCH
PURPOSES.
(B) CONSUMERS IS THE ONLY SUBSIDIARY OF CLAIMANT WHICH IS A
PUBLIC UTILITY. ITS PROPERTY AND FACILITIES USED FOR THE
ABOVE-DESCRIBED PURPOSES ARE LOCATED WITHIN THE STATE OF MICHIGAN AND
ARE DESCRIBED BELOW.
(1) Electric Properties
Consumers' electric generation is supplied
by the following plants:
<TABLE>
<CAPTION>
1999 SUMMER NET 1999 NET
DEMONSTRATED GENERATION
NAME AND LOCATION CAPABILITY (THOUSANDS OF
(MICHIGAN) (KILOWATTS) KILOWATT-HOURS)
----------------- --------------- ---------------
<S> <C> <C>
Coal Generation
J H Campbell - West Olive 1,346,100 (A) 9,291,538
D E Karn - Essexville 515,000 3,515,678
B C Cobb - Muskegon 300,000 2,087,808
J R Whiting - Erie 310,000 2,110,618
J C Weadock - Essexville 310,000 2,079,779
--------- ----------
Total 2,781,100 19,085,421
--------- ----------
Oil/Gas Generation
B C Cobb - Muskegon 60,000 27,114
D E Karn - Essexville 1,276,000 1,160,699
--------- ----------
Total 1,336,000 1,187,813
Ludington Pumped Storage 954,000 (B) (475,561)(C)
Nuclear Generation
Palisades - South Haven 760,000 5,104,581
Gas/Oil Combustion Turbine
Generation 345,000 62,353
Hydro Generation 73,500 364,684
--------- ---------
Total Owned Generation 6,250,300 25,329,291
========= ==========
</TABLE>
<PAGE> 20
20
(A) Represents Consumers' share of the capacity of the Campbell Plant Unit
3 net of 6.69% (ownership interests of the Michigan Public Power Agency
and Wolverine Power Supply Cooperative, Inc.).
(B) Represents Consumers' share of the capacity of the Ludington Pumped
Storage Plant. Consumers and The Detroit Edison Company ("Detroit
Edison") have 51% and 49% undivided ownership, respectively, in the
plant, and the capacity of the plant is shared accordingly.
(C) Represents Consumers' share of net pumped storage generation. This
facility electrically pumps water during off-peak hours for storage to
later generate electricity during peak-demand hours.
Electric transmission, subtransmission and distribution lines
are located on or under public highways, streets, alleys or lands,
except where they are located on or under easements or other rights.
The transmission system consists of 4,450 structural miles of overhead
lines. The subtransmission system consists of 4,174 structural miles
and 16 subsurface miles of underground lines. The distribution system
consists of 53,504 structural miles of overhead lines and 6,952
subsurface miles of underground lines.
Consumers owns substations having an aggregate transformer
capacity of 39,022,140 kilovolt amperes.
Consumers is interconnected with certain Michigan and
neighboring utilities. Consumers and Detroit Edison have formed the
Michigan Electric Coordinated Systems ("MECS") to facilitate the
coordinated planning and operation of their electric systems. MECS is
interconnected with electric systems in Indiana, Ohio and Ontario,
Canada.(1)
Consumers owns or connects with electric transmission lines
which deliver electric energy at or near the Michigan state border to:
(i) Indiana & Michigan Electric Company at the
following interconnection points: Palisades-Cook No. 1,
Palisades-Cook No. 2, Argenta-Robinson Park and Argenta-Twin
Branch; and
(ii) Northern Indiana Public Service Company at the
following interconnection point: Barton Lake-Batavia.
(2) Gas Properties
As of December 31, 1999, Consumers' gas properties, all
located in Michigan, included a gas distribution and transmission
system, 6 compressor stations located at Consumers' storage fields and
along the gas transportation lines and 11 storage fields.
Consumers' gas distribution and transmission systems consist
of 23,933 miles of distribution mains and 1,156 miles of transportation
lines, throughout the lower peninsula of Michigan. Consumers owns and
operates 6 compressor stations with a total of 108,680 installed
horsepower.
<PAGE> 21
21
Michigan Gas Storage Company ("MGSC") owns and operates a gas
transportation system, 2 compressor stations, and 3 storage fields, all
located in Michigan.
- -----------------------
(1) MECS interconnects with electric systems in Ohio and Ontario, Canada
through Detroit Edison. Detroit Edison interconnects with The Toledo
Edison Company at Majestic-Lemoyne, Monroe-Bayshore and Allen
JunctionMajestic-Monroe. Detroit Edison also interconnects with Ontario
Hydro at Waterman-Keith, Bunce Creek-Scott and two points at St.
Clair-Lambton. Consumers receives natural gas for its local
distribution system through interconnection facilities located in
Michigan and at the Michigan State border.
<PAGE> 22
22
3. THE FOLLOWING INFORMATION FOR THE LAST CALENDAR YEAR WITH RESPECT TO
CLAIMANT AND EACH OF ITS SUBSIDIARY PUBLIC UTILITY COMPANIES:
---------------------------------------------------------
(A) NUMBER OF KWH OF ELECTRIC ENERGY SOLD (AT RETAIL OR
WHOLESALE), AND MCF OF NATURAL OR MANUFACTURED GAS DISTRIBUTED AT
RETAIL.
<TABLE>
<CAPTION>
ELECTRIC ENERGY
Subsidiary State Kwh Revenue
<S> <C> <C>
Consumers Energy
Michigan 38,843,942,000 $ 2,584,098,584
Ontario, Canada* 1,264,643,000 $ 29,687,273
Indiana 244,500,500 $ 18,210,926
Ohio* 26,509,500 $ 2,083,217
CMS Marketing, Services and
Trading Company
Pennsylvania 63,000,000 $ 4,435,851
Michigan 34,047,000 $ 1,160,818
TOTAL ELECTRIC ENERGY 40,476,642,000 $ 2,639,676,669
* Represents amounts ultimately delivered to the state line by Detroit Edison.
NATURAL GAS
Subsidiary State Mcf Revenue
Consumers Energy Michigan 233,553,551 $ 210,910,112
CMS Marketing, Services and
Trading Company
Illinois 212,570 $ 530,160
Indiana 451,846 $ 986,731
Iowa 36,975 $ 97,834
Kansas 185,844 $ 386,760
Kentucky 16,809,816 $ 26,661,429
Louisiana 674,731 $ 1,409,563
Michigan 39,826,705 $ 113,725,132
Missouri 29,758 $ 106,219
Pennsylvania 705,020 $ 2,024,236
Tennessee 4,500 $ 14,421
TOTAL NATURAL GAS 292,491,316 $ 356,852,597
</TABLE>
Claimant did not sell any manufactured gas at retail.
<PAGE> 23
23
(B) NUMBER OF KWH OF ELECTRIC ENERGY AND MCF OF NATURAL OR
MANUFACTURED GAS DISTRIBUTED AT RETAIL OUTSIDE THE STATE OF MICHIGAN.
<TABLE>
<CAPTION>
ELECTRIC ENERGY
Subsidiary State Kwh Revenue
<S> <C> <C>
Consumers Energy 0 $ 0
CMS Marketing, Services and
Trading Company
Pennsylvania 63,000,000 $ 4,435,851
TOTAL ELECTRIC ENERGY 63,000,000 $ 4,435,851
NATURAL GAS
Subsidiary State Mcf Revenue
Consumers Energy 0 $ 0
CMS Marketing, Services and
Trading Company
Illinois 212,570 $ 530,160
Indiana 451,846 $ 986,731
Iowa 36,975 $ 97,834
Kansas 185,844 $ 386,760
Kentucky 16,809,816 $ 26,661,429
Louisiana 674,731 $ 1,409,563
Missouri 29,758 $ 106,219
Pennsylvania 705,020 $ 2,024,236
Tennessee 4,500 $ 14,421
TOTAL NATURAL GAS 19,111,060 $ 32,217,353
</TABLE>
Claimant did not sell any manufactured gas at retail outside the State
of Michigan.
<PAGE> 24
24
(C) NUMBER OF KWH OF ELECTRIC ENERGY AND MCF OF NATURAL OR
MANUFACTURED GAS SOLD AT WHOLESALE OUTSIDE THE STATE OF MICHIGAN OR AT
THE STATE LINE OF MICHIGAN.
<TABLE>
<CAPTION>
ELECTRIC ENERGY
Subsidiary State Kwh Revenue
<S> <C> <C>
Consumers Energy Ontario, Canada * 1,264,643,000 $ 29,687,273
Indiana 244,500,500 $ 18,210,926
Ohio* 26,509,500 $ 2,083,217
CMS Marketing, Services and
Trading Company
Arkansas 707,200,000 $ 23,183,440
Ohio 2,258,876,000 $ 65,616,618
Pennsylvania 585,600,000 $ 21,401,120
Tennessee 33,600,000 $ 973,056
TOTAL ELECTRIC ENERGY 5,120,929,000 $ 161,155,650
* Represents amounts ultimately delivered to the state line by Detroit Edison.
NATURAL GAS
Subsidiary State Mcf Revenue
Consumers 0 $ 0
CMS Marketing, Services and
Trading Company
Alabama 2,134,089 $ 5,661,408
Georgia 47,851 $ 121,576
Illinois 411,762 $ 969,608
Indiana 970,728 $ 2,259,208
Kansas 7,738,867 $ 18,811,677
Kentucky 4,868,058 $ 11,011,491
Louisiana 72,484,917 $ 178,522,225
Minnesota 1,734,746 $ 3,824,530
Missouri 7,673,718 $ 19,116,075
New Jersey 5,000 $ 12,350
North Carolina 43,500 $ 118,558
Ohio 20,884,579 $ 7,779,474
Ontario, Canada 455,000 $ 1,421,850
Tennessee 1,696,649 $ 4,331,955
Texas 42,905,508 $ 50,916,581
TOTAL NATURAL GAS 164,054,972 $ 304,878,566
</TABLE>
Claimant did not sell any manufactured gas at wholesale outside the
State of Michigan.
<PAGE> 25
25
(D) NUMBER OF KWH OF ELECTRIC ENERGY AND MCF OF NATURAL OR
MANUFACTURED GAS PURCHASED OUTSIDE THE STATE OF MICHIGAN OR AT THE
STATE LINE OF MICHIGAN.
<TABLE>
<CAPTION>
ELECTRIC ENERGY
Subsidiary State Kwh Expense
<S> <C> <C>
Consumers Energy Ontario, Canada * 982,345,000 $ 24,468,000
Indiana 2,721,047,000 $ 61,951,000
Ohio* 164,535,000 $ 5,433,000
CMS Marketing, Services and
Trading Company
Arkansas 585,600,000 $ 21,091,312
Ohio 2,241,289,000 $ 58,234,244
Pennsylvania 707,200,000 $ 22,906,102
Tennessee 33,600,000 $ 1,037,560
TOTAL ELECTRIC ENERGY 7,435,616,000 $ 195,121,218
* Represents amounts ultimately delivered to the state line by Detroit Edison.
NATURAL GAS
Subsidiary State Mcf Expense
Consumers Energy ** 194,530,000 $ 560,815,000
CMS Marketing, Services and
Trading Company
Alabama 2,237,191 $ 4,330,886
Georgia 246,939 $ 604,506
Illinois 977,809 $ 2,472,182
Indiana 86,500 $ 237,633
Iowa 45,975 $ 121,986
Kansas 9,232,096 $ 20,768,033
Kentucky 4,882,856 $ 5,553,268
Louisiana 97,434,852 $ 218,242,182
Michigan 69,695,197 $ 163,646,704
Minnesota 1,739,548 $ 3,826,684
Missouri 8,553,134 $ 20,716,149
New Jersey 866,615 $ 2,016,039
North Carolina 46,899 $ 127,377
Ohio 1,164,825 $ 4,330,546
Ontario, Canada 3,218,629 $ 9,204,356
Pennsylvania 1,050,375 $ 2,895,902
Tennessee 4,560,999 $ 11,499,325
Texas 80,752,511 $ 1,545,033
West Virginia 387,960 $ 1,070,881
TOTAL NATURAL GAS 481,710,910 $ 1,034,024,672
</TABLE>
Claimant did not purchase any manufactured gas outside the State of
Michigan.
** Purchased gas data is not available by State or Country for Consumers.
<PAGE> 26
26
4. THE FOLLOWING INFORMATION FOR THE REPORTING PERIOD WITH
RESPECT TO CLAIMANT AND EACH INTEREST IT HOLDS DIRECTLY OR INDIRECTLY IN AN EWG
OR A FOREIGN UTILITY COMPANY, STATING MONETARY AMOUNTS IN UNITED STATES DOLLARS:
(a) NAME, LOCATION, BUSINESS ADDRESS AND DESCRIPTION OF
THE FACILITIES USED BY THE EWG OR FOREIGN UTILITY COMPANY FOR THE GENERATION,
TRANSMISSION AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE OR FOR THE
DISTRIBUTION AT RETAIL OF NATURAL OR MANUFACTURED GAS.
As of December 31, 1999, CMS Energy had interests in
25 EWGs and 10 foreign utility companies:
Centrales Termicas San Nicolas, S.A. ("CTSN")
Rivadavia S/N
2900 San Nicolas
Prov. Buenos Aires, Argentina
CTSN, an Argentine company, is an EWG and is owner
and operator of a 650 MW power plant located in San Nicolas,
Argentina, north of Buenos Aires, Argentina. The five-unit
plant can be fueled by coal, petroleum coke, oil or natural
gas. CMS Generation holds a 0.016% indirect ownership interest
in CTSN. See CTSN, Section 4(b) and Exhibit C.
CMS Ensenada S.A. ("Ensenada")
Edificio Torre Catalinas Plaza
Ing. Butty 220 8th Floor
(1101) Buenos Aires, Argentina
Ensenada, an Argentine company, is an EWG and is the
owner of a 128 MW natural gas-fired power plant, located on
the grounds of YPF S.A.'s La Plata oil refinery, located in
the province of Buenos Aires, Argentina.
CMS Generation Cebu Limited Duration Company ("Cebu")
c/o Maples and Calder
P.O. Box 309, Grand Cayman
Cayman Islands, British West Indies
Cebu, a Cayman Islands company, is an EWG and has
indirect ownership interests in two power plants totaling
134.5 MW generating capacity located in Toledo City, Cebu,
Philippines, in the central island group of the Republic of
the Philippines. The plants can be fueled by coal, oil or
diesel fuel.
CMS Generation Cebu Operating Limited Duration
Company
("Cebu Operating")
c/o Maples and Calder
P.O. Box 309, Grand Cayman
Cayman Islands, British West Indies
<PAGE> 27
27
Cebu Operating, a Cayman Islands company, is an EWG
and is the operator of two power plants totaling 134.5 MW
generating capacity, located in Toledo City, Cebu,
Philippines, in the central island group of the Republic of
the Philippines. The plants are owned by Toledo Power Company.
CMS Generation Horizon Energy Holdings Limited
("CMSG Horizon")
P.O. Box 3001
Ugland House, South Church Street
Grand Cayman, Cayman Islands, British West Indies
CMSG Horizon, a Cayman Islands company, is a foreign
utility company and is part-owner and operator of a 2,000 MW
power station and associated lignite mine located at Loy Yang,
Victoria, Australia.
CMS Generation Michigan Power LLC
Fairlane Plaza South
330 Town Center Drive
Dearborn, Michigan 48126
CMS Generation Michigan Power LLC, a United States
company, is an EWG and owns a 68 MW natural gas-fired peaking
facility located in Comstock, Michigan and a 148 MW natural
gas-fired peaking facility located in Gaylord, Michigan.
CMS Generation Operating Company
Fairlane Plaza South
330 Town Center Drive
Dearborn, Michigan 48126
CMS Generation Operating Company, a United States
company, is an EWG and is the operator of a 68 MW natural
gas-fired peaking facility located in Comstock, Michigan and a
148 MW natural gas-fired peaking facility located in Gaylord,
Michigan.
CMS Generation Operating Company II, Inc.
("CMSG Operating Company II")
Fairlane Plaza South
330 Town Center Drive
Dearborn, Michigan 48126
CMSG Operating Company II, a United States company,
is an EWG and is the operator of a 237 MW cogeneration
facility located in Lakewood, New Jersey.
CMS Generation Pinamucan Limited Duration Company
("Pinamucan")
c/o Maples and Calder
P.O. Box 309, Grand Cayman
Cayman Islands, British West Indies
<PAGE> 28
28
Pinamucan, a Cayman Islands company, is an EWG and is
located in Cavite Export Processing Zone, Rosario, Cavite,
Philippines.
CMS Generation Pinamucan Operating Limited Duration
Company
("Pinamucan Operating")
c/o Maples and Calder
P.O. Box 309, Grand Cayman
Cayman Islands, British West Indies
Pinamucan Operating, a Cayman Islands company, is an
EWG and is located in Cavite Export Processing Zone, Rosario,
Cavite, Philippines.8.
CMS International Operating Company
c/o Maples and Calder
Ugland House
P.O. Box 309, South Church Street
George Town, Cayman Islands, British West Indies
CMS International Operating Company, a Cayman Islands
company, is an EWG and is the operator of a 330 MW combined
cycle thermal power plant under construction located at the
Takoradi Power Plant Complex near Takoradi at Aboadze in the
Western Region of the Republic of Ghana.
CMS Morocco Operating Company SCA ("CMS Morocco")
BP 99 Sidi Bouzid
El Jadida
Morocco
CMS Morocco, a Moroccan company, is an EWG that
operates two existing 330 MW electric generating plants and
will operate two additional 348 MW electric generating plants
to be constructed at the port of Jorf Lasfar on the Atlantic
coast of Morocco.
CMS Operating S.A.
Edificio Torre Catalinas Plaza
Ing. Butty 220, 8th Floor
(1106) Buenos Aires, Argentina
CMS Operating S.A., an Argentine company, is an EWG
and has an ownership interest in and is the operator of
Ensenada (see above); and has an ownership interest in
Centrales Termicas Mendoza S.A., an Argentine company which
owns a power generating facility located in Mendoza,
Argentina, which currently generates 532 MW of power and can
be fueled by natural gas, Oil or diesel fuel.
Compania Forca E Luz Cataguazes - Leopoldina
("Cataguazes")
Praca Rui Barbosa, 80, 36770-000
Cataguazes, MG, Brazil
Cataguazes, a Brazilian company, is a foreign utility
company and owns and operates an electric distribution company
located in
<PAGE> 29
29
the Brazilian states of Minas Gerais and Rio de Janeiro,
serving approximately 319,000 customers.
Companhia Jaguari De Energia ("Jaguari")
Rua Padre Garcia Velho
73-6(degree) andar - conj. 61
Pinheiros
CEP 05421-030
Sau Paulo, SP, Brazil
Jaguari, a Brazilian company, is a foreign utility
company that owns and operates an electricity distribution
concession located in the State of Sao Paulo. Jaguari is a
non-traded utility company controlled by CPEE. Jaguari serves
approximately 19,000 customers.
Companhia Luz E Forca De Mocaca ("Mococa")
Rua Padre Garcia Velho
73-5(degree) andar - conj. 51
Pinheiros
CEP 05421-030
Sau Paulo, SP, Brazil
Mococa, a Brazilian company, is a foreign utility
company that owns and operates an electricity distribution
concession located in the State of Sao Paulo and the State of
Minas Gerais. Mococa is a non-traded utility company
controlled by CPEE. Mococa serves approximately 30,000
customers.
Companhia Paulista De Energia Electrica ("CPEE")
Rua Padre Garcia Velho
73-7(degree) andar - conj. 73
CEP 05421-030
Sau Paulo, SP, Brazil
CPEE, a Brazilian company, is a foreign utility
company that owns and operates an electricity distribution
concession in the State of Sao Paulo, Brazil and also has a
controlling interest in 3 other non-traded utility companies
which own and operate electricity distribution concessions
located in the State of Sao Paulo and in the State of Minas
Gerais. CPEE and its controlled companies serve approximately
140,000 customers. CPEE also owns a 7 percent interest in
Investco S.A. which owns an 850 MW hydroelectric plant
currently under construction.
Companhia Sul Paulista De Energia ("Paulista")
Rua Padre Garcia Velho
73-7(degree) andar - conj. 71
Pinheiros
CEP 05421-030
Sau Paulo, SP, Brazil
Paulista, a Brazilian company, is a foreign utility
company that owns and operates an electricity distribution
<PAGE> 30
30
concession located in the State of Sao Paulo. Paulista is a
non-traded utility company controlled by CPEE. Paulista serves
approximately 48,000 customers.
Dearborn Generation Operating, L.L.C.
("Dearborn Generation Operating")
Fairlane Plaza South
330 Town Center Drive
Dearborn, Michigan 48126
Dearborn Generation Operating, a United States
company, is an EWG and is the operator of a 155 MW natural
gas-fired facility and an approximately 550 MW natural
gas-fired facility under construction located in Dearborn,
Michigan.
Dearborn Industrial Generation, L.L.C.
("Dearborn Industrial Generation")
Fairlane Plaza South
330 Town Center Drive
Dearborn, Michigan 48126
Dearborn Industrial Generation, a United States
company, is an EWG and is the owner of a 155 MW natural
gas-fired facility and an approximately 550 MW natural
gas-fired facility under construction located in Dearborn,
Michigan.
Empresa Distribuidora de Electricidad de Entre Rios
S.A. ("EDEER")
25 de Mayo 139 (3100)
Parana, Entre Rios, Argentina
EDEER, an Argentine company, is a foreign utility
company and owns and operates an electric distribution company
located North of Buenos Aires, in the Province of Entre Rios,
Argentina, serving approximately 233,000 customers.
Empresa Energetica de Sergipe S.A. ("Energipe")
Rua Itabaianinha, 66, CEP 49010-190
Aracaju, Sergipe, Brazil
Energipe, a Brazilian company, is a foreign utility
company and owns a concession right for electric distribution
in the Brazilian state of Sergipe which services approximately
381,000 customers.
GMR Vasavi Power Corp.
("GMR Vasavi")
25/1, SKIP House
Ground Floor
Museum Road
Bangalore 560 025
India
<PAGE> 31
31
GMR Vasavi, an Indian company, is an EWG and owns a
200 MW diesel-fired power plant located in Basin Bridge in
Chennai (f.k.a. Madras), Tamil Nadu, India.
GVK Industries Limited ("GVK")
Road No. 1
Banjara Hills, Hyderabad
India
GVK, an Indian company, is an EWG and is owner of a
235 MW electric generating plant located in Jegurupadu, Andra
Pradesh, India.
Hidroelectrica El Chocon, S.A. ("Hidroelectrica")
8311 Neuquen
Neuquen Province, Argentina
Hidroelectrica, an Argentine company, is an EWG and
holds a thirty-year concession to operate two hydroelectric
power plants located 26 kilometers apart on the Limay River in
western Argentina. These plants have a total generating
capacity of 1,320 MW.
Horizon Energy Holdings Limited
("Horizon Energy")
P.O. Box 3001
Ugland House, South Church Street
Grand Cayman, Cayman Islands, British West Indies
Horizon Energy, a Cayman Islands company, is a
foreign utility company and is part-owner and operator of a
2,000 MW power station and associated lignite mine located at
Loy Yang, Victoria, Australia.
Jamaica Private Power Company Limited ("Jamaica
Private Power")
100 Windward Road,
Kingston 2,
Jamaica, W.I.
Jamaica Private Power, a Jamaican company, is an EWG
and is the owner of a 65 MW electric generating facility in
Rockfort, Kingston, Jamaica.
Jegurupadu Operating and Maintenance Company
("Jegurupadu Operating")
F-40, N.D.S.E., Part I
New Delhi 110 149
India
Jegurupadu Operating, a Mauritius company, is an EWG
and is the operator of a 235 MW electric generating plant
located in Jegurupadu, Andra Pradesh, India. The plant is
owned by GVK Industries Limited.
<PAGE> 32
32
Jorf Lasfar Energy Company SCA ("Jorf Lasfar")
BP 99 Sidi Bouzid
El Jadida
Morocco
Jorf Lasfar, a Moroccan company, is an EWG that
operates through a subcontractor, CMS Morocco Operating
Company SCA, two existing 330 MW electric generating plants
and will construct and operate through a different
subcontractor two additional 348 MW electric generating plants
located at the port of Jorf Lasfar on the Atlantic coast of
Morocco.
Lakewood Cogeneration, LP ("Lakewood")
123 Energy Way
Lakewood, New Jersey 08701
Lakewood, a Delaware limited partnership, is an EWG
and is owner and operator of a 237 MW Cogeneration facility
located in Lakewood, New Jersey. The two-unit plant can be
fueled by natural gas or household heating oil.
National Power Supply Co. Ltd.
("National Power Supply")
Fairlane Plaza South
330 Town Center Drive
Dearborn, MI 48126
National Power Supply, a Thailand company, is an EWG
and is the owner and operator of two approximately 150 MW
coal-fired cogeneration units under construction with biomass
fuel capability in the Tha Thuom area, Pranchiburi province,
approximately 140 kilometers east of Bangkok, Thailand.
PanEnergy Lake Charles Generation, Inc.
("PanEnergy Lake Charles Generation")
5444 Westheimer Road
Houston, Texas 77056
PanEnergy Lake Charles Generation, a United States
company, is an EWG and is the owner of 50% undivided interest
in an electric generating facility with a nominal capacity of
32 MW (16 MW of which is available through the currently
operable generator) located near Lake Charles, Louisiana. The
facility is operated by Trunkline LNG Company.
Private Power Operators Limited ("Private Power")
100 Windward Road
Kingston 2,
Jamaica, W.I.
Private Power, a Jamaican company, is an EWG and is the
operator of a 65 MW electric generating facility in Rockfort,
Kingston, Jamaica.
<PAGE> 33
33
Sistema Electrico Nueva Esparta C.A. ("SENECA")
Centro Comercial El Angel
Local 16 Porlamar (6301)
Isla de Margarita, Venezuela
SENECA, a Venezuelan company, is a foreign utility
company and is the owner of 150 MW of diesel-fired power
generation units located on Margarita Island, Venezuela.
SENECA also owns and operates an electric distribution system
located on Margarita Island, Venezuela, serving approximately
92,000 customers.
Takoradi International Company
c/o Maples and Calder
Ugland House
P.O. Box 309, South Church Street
George Town, Cayman Islands, British West Indies
Takoradi International Company, a Cayman Islands
company, is an EWG and is the owner of a 330 MW combined cycle
thermal power plant under construction located at the Takoradi
Power Plant Complex near Takoradi at Aboadze in the Western
Region of the Republic of Ghana.
(b) NAME OF EACH SYSTEM COMPANY THAT HOLDS AN INTEREST IN SUCH EWG
OR FOREIGN UTILITY COMPANY; AND DESCRIPTION OF THE INTEREST HELD.
CTSN
In May 1993, Inversora San Nicolas S.A. purchased 88% share in
CTSN. The remaining 12% interest was held by the Argentine
government on behalf of the facility's employees. On July 7,
1995, AES Argentina, Inc. purchased a 99.9% ownership
interest in CMS Generation San Nicolas Company, represented
by 9,990 newly-issued shares, leaving CMS Generation Co.
with a 0.016% indirect ownership interest in CTSN. See
Exhibit C.
Ensenada
CMS Operating S.A. owns 100% of Ensenada. See Exhibit C.
Cebu
CMS Generation Investment Company I and CMS Generation
Investment Company II, own 99% and 1%, respectively, of Cebu.
See Exhibit C.
Cebu Operating
CMS Generation Investment Company I and CMS Generation
Investment Company II, own 99% and 1%, respectively, of CMS
Generation Cebu Operating. See Exhibit C.
CMSG Horizon
CMS Generation Loy Yang Holdings II, a wholly owned subsidiary
of CMS Generation Investment Company I, owns 100% of CMSG
Horizon. See Exhibit C.
CMS Generation Michigan Power LLC
CMS Generation Co. owns 100% of CMS Generation Michigan Power
LLC. See Exhibit C.
<PAGE> 34
34
CMS Generation Operating Company
CMS Generation Co. owns 100% of CMS Generation Operating
Company. See Exhibit C.
CMSG Operating Company II
HYDRA-CO. Enterprises, Inc., owns 100% of CMSG Operating
Company II. See Exhibit C.
Pinamucan
CMS Generation Investment Company I and CMS Generation
Investment Company II, own 99% and 1%, respectively, of
Pinamucan. See Exhibit C.
Pinamucan Operating
CMS Generation Investment Company I and CMS Generation
Investment Company II, own 99% and 1%, respectively, of
Pinamucan Operating.
See Exhibit C.
CMS International Operating Company
CMS Generation Co. owns 100% of CMS International Operating
Company. See Exhibit C.
CMS Morocco
Jorf Lasfar Operations Handelsbolag, CMS Generation Investment
Company I, CMS International Operating Company, and CMS
Generation Jorf Lasfar III Limited Duration Company own 99.7%,
0.1%, 0.1%, and 0.1%, respectively, of CMS Morocco. See
Exhibit C.
CMS Operating S.A.
CMS Enterprises Company and CMS Generation Holdings Company,
own 99% and 1%, respectively of CMS Operating S.A. See Exhibit
C.
Cataguazes
Cataguazes is owned 21.56% by CMS Brazil Energia Limitada,
9.18% by Itacatu, S.A., and 51% by GIPAR, S.A. See Exhibit C.
Jaguari
Jaguari is 79.99% owned by Paulista and 19.99% owned by CPEE.
See CPEE below and Exhibit C.
Mococa
Mococa is 76.47% owned by CPEE and 22.71% owned by Jaguari.
See CPEE below and Exhibit C.
CPEE
CMS Brasil Energia Ltda. owns 95.83% of CPEE. See Exhibit C.
Paulista
Paulista is 87.27% owned by CPEE. See CPEE above and Exhibit
C.
<PAGE> 35
35
Dearborn Generation Operating
CMS Generation Co. owns 100% of Dearborn Generation Operating.
See Exhibit C.
Dearborn Industrial Generation
Dearborn Industrial Energy L.L.C. owns 100% of Dearborn
Industrial Generation. See Exhibit C.
EDEER
Inversora en Distribucion de Entre Rios S.A. owns 90% of the
shares of EDEER. See Exhibit C.
Energipe
Energisa S.A. owns 84% of Energipe. Cataguazes owns 12.18% of
Energipe. See Cataguazes above and Exhibit C.
GMR Vasavi
Monetize Limited, a wholly owned subsidiary of CMS Generation
Investment Company I, owns 49% of GMR Vasavi. See Exhibit C.
GVK
Jegurupadu CMS Generation Company Limited, owns 18.75% of GVK.
See Exhibit C.
Hidroelectrica
CMS Generation S.A. owns 2.48% of Hidroelectrica. Hidroinvest,
S.A. owns 59% of Hidroelectrica. CMS Generation, S.A. owns 25%
of Hidroinvest, S.A. See Exhibit C.
Horizon Energy
CMS Generation Loy Yang Holdings I, a wholly owned subsidiary
of CMS Generation Investment Company I, owns 100% of Horizon
Energy. See Exhibit C.
Jamaica Private Power
HCE-Rockfort Diesel, owns 43.93% of Jamaica Private Power. See
Exhibit C.
Jegurupadu Operating
Jegurupadu O&M Company Mauritius, owns 60% of Jegurupadu
Operating. See Exhibit C.
Jorf Lasfar
Jorf Lasfar I Handelsbolag, Jorf Lasfar Power Energy
Handelsbolag, and Jorf Lasfar Handelsbolag, own 25%, 23% and
2%, respectively, of Jorf Lasfar. See Exhibit C.
Lakewood
HCE-Lakewood, Inc. owns a 1% interest as a General Partner in
Lakewood Cogeneration, LP. HYDRA-CO Enterprises, Inc. owns a
78% ownership interest as a Limited Partner in Lakewood. CMS
Generation Lakewood Company owns a 1% interest in Lakewood.
See Exhibit C.
<PAGE> 36
36
National Power Supply
CMS Generation owns 100% of CMS Generation Operating Company
I, which owns 66.24% of National Power Supply. See Exhibit C.
PanEnergy Lake Charles Generation
Trunkline Field Services Company owns 100% of PanEnergy Lake
Charles Generation. See Exhibit C.
Private Power
HCO-Jamaica, Inc., owns 50% of Private Power. See Exhibit C.
SENECA
CMS Electric and Gas Company owns 90% of ENELMAR. ENELMAR owns
70% of SENECA. See Exhibit C.
Takoradi International Company
CMS Takoradi Investment Company II owns 90% of Takoradi
International Company. See Exhibit C.
(c) TYPE AND AMOUNT OF CAPITAL INVESTED, DIRECTLY OR INDIRECTLY,
BY THE HOLDING COMPANY CLAIMING EXEMPTION; ANY DIRECT OR INDIRECT GUARANTEE OF
THE SECURITY OF THE EWG OR FOREIGN UTILITY COMPANY BY THE HOLDING COMPANY
CLAIMING EXEMPTION; AND ANY DEBT OR OTHER FINANCIAL OBLIGATION FOR WHICH THERE
IS RECOURSE, DIRECTLY OR INDIRECTLY, TO THE HOLDING COMPANY CLAIMING EXEMPTION
OR ANOTHER SYSTEM COMPANY, OTHER THAN THE EWG OR FOREIGN UTILITY COMPANY.
CTSN
As of December 31, 1999, CMS Generation San Nicolas Company
had invested approximately $13 million of equity in CTSN. CMS
Energy has been released from all guarantees related to CTSN.
Ensenada
As of December 31, 1999, CMS Operating S.A. had invested
approximately $39 million of equity in Ensenada.
Cebu
As of December 31, 1999, CMS Generation Investment Company I
and CMS Generation Investment Company II had invested
approximately $16 million of equity in Cebu.
Cebu Operating
As of December 31, 1999, CMS Generation Investment Company I
and CMS Generation Investment Company II had invested
approximately $700 thousand of equity in CMS Generation Cebu
Operating.
CMSG Horizon
As of December 31, 1999, CMS Generation Investment Company I
had invested approximately $143 million in CMS Generation Loy
Yang Holdings 2 and advanced approximately $158 million to
CMSG Horizon.
CMS Generation Michigan Power LLC
As of December 31, 1999, CMS Generation Co. had invested
approximately $221 million of equity in CMS Generation
Michigan Power LLC.
<PAGE> 37
37
CMS Generation Operating Company
As of December 31, 1999, there were no investments made in CMS
Generation Operating Company.
CMSG Operating Company II
As of December 31, 1999, there were no investments made in
CMSG Operating Company II.
Pinamucan
As of December 31, 1999, CMS Generation Investment Company I
and CMS Generation Investment Company II had invested
approximately $500 thousand of equity in CMS Generation
Pinamucan.
Pinamucan Operating
As of December 31, 1999, CMS Generation Investment Company I
and CMS Generation Investment Company II had invested
approximately $200 thousand of equity in Pinamucan Operating.
CMS International Operating Company
As of December 31, 1999, there were no investments in CMS
International Operating Company.
CMS Morocco
As of December 31, 1999, Jorf Lasfar Operations Handelsbolag,
CMS Generation Investment Company I, CMS International
Operating Company, and CMS Generation Jorf Lasfar III Limited
Duration Company, had invested approximately $12,000 of equity
in CMS Morocco.
CMS Operating S.A.
As of December 31, 1999, CMS Generation Co. had invested
approximately $245 million of equity in CMS Operating S.A.
Cataguazes
As of December 31, 1999, CMS Brazil Energia Ltda. had invested
$180.7 million and CMS Distribuidora Ltda. had invested $19.4
million in Cataguazes.
Jaguari
As of December 31, 1999, Paulista has invested $16 million in
Jaguari and CPEE has invested $4 million in Jaguari.
Mococa
As of December 31, 1999, Jaguari has invested $4 million in
Mococa and CPEE has invested $12 million in Mococa.
CPEE
As of December 31, 1999, CMS Brazil Energia has invested $87
million in CPEE.
Paulista
As of December 31, 1999, CPEE has invested $19 million in
Paulista.
<PAGE> 38
38
Dearborn Generating Operating
As of December 31, 1999, there were no investments made in
Dearborn Generation Operating.
Dearborn Industrial Generation
As of December 31, 1999, CMS Generation had invested $129
million in Dearborn Industrial Generation, LLC.
EDEER
As of December 31, 1999, CIEESA had invested $86 million in
EDEER.
Energipe
As of December 31, 1999, CMS Distribuidora Ltda. had invested
$10.1 million in Energisa.
GMR Vasavi
As of December 31, 1999, Monetize Ltd. had invested $29
million in GMR Vasavi.
GVK
As of December 31, 1999, Jegurupadu CMS Generation Company
Limited had invested $21 million of equity in GVK Industries,
directly and indirectly through Classic Investment I and
Classic Investment II.
Hidroelectrica
As of December 31, 1999, CMS Generation, S.A. had invested
approximately $51 million of equity in, and advanced
approximately $12.5 million of loans to, Hidroelectrica. CMS
Generation, S.A. was a co-applicant for certain letters of
credit required in connection with the acquisition of the
concession, and CMS Energy has guaranteed up to approximately
$15 million of reimbursement obligations relating to these
letters of credit. CMS Energy has also guaranteed on behalf of
Hidroelectrica approximately $13 million in connection with
the Guaranteed Indebtedness Credit Agreement dated as of
December 15, 1993 between Hidroelectrica and The Chase
Manhattan Bank.
Horizon Energy
As of December 31, 1999, CMS Generation Investment Company I
had invested approximately $141 million in CMS Generation Loy
Yang Holdings 1 and advanced approximately $157 million to
Horizon Energy.
Jamaica Private Power
As of December 31, 1999, HCE Rockfort Diesel, had invested
approximately $21 million in Jamaica Private Power.
Jegurupadu Operating
As of December 31, 1999, Jegurupadu O&M Company had invested
approximately $200 thousand of equity in Jegurupadu Operating,
directly and indirectly through Classic Investment I and
Classic Investment II.
<PAGE> 39
39
Jorf Lasfar
As of December 31, 1999, Jorf Lasfar I Handelsbolag, Jorf
Lasfar Power Energy Handelsbolag, and Jorf Lasfar
Handelsbolag, had invested approximately $30,000 of equity in
Jorf Lasfar.
Lakewood
As of December 31, 1999, HCE-Lakewood, Inc. had invested
$510,000 of equity in Lakewood. HYDRA-CO Enterprises, Inc. had
invested $36,169,000 of equity in Lakewood.
National Power Supply
As of December 31, 1999, CMS Generation Investment Company I
had invested approximately $89 million of equity in National
Power Supply.
PanEnergy Lake Charles Generation
As of December 31, 1999, Trunkline Field Services Company had
invested approximately $4 million of equity in PanEnergy Lake
Charles Generation.
Private Power
As of December 31, 1999, there were no investments made in
Private Power.
SENECA
As of December 31, 1999, ENELMAR had invested $63 million in
SENECA.
Takoradi International Company
As of December 31, 1999, CMS Generation Investment Company I
had invested approximately $65 million in Takoradi
International Company.
(d) CAPITALIZATION AND EARNINGS OF THE EWG OR FOREIGN UTILITY
COMPANY DURING THE REPORTING PERIOD.
<TABLE>
<CAPTION>
*CTSN:
------
<S> <C>
$ (000s)
Capitalization at 12/31/99 ----------
Bank Loans $
----------
Long Term Debt (Partners Loans) $
----------
Shareholders' Equity $
----------
Total Capitalization $
----------
Net Income (Loss) for the
period ended 12/31/99 $
==========
</TABLE>
* As stated in Claimant's Form U-3A-2 filed February 29, 1996, due to the
nominal interest (.016%) of CTSN indirectly owned by CMS Generation
Co., capitalization and earnings information of CTSN continues to be
unavailable.
<PAGE> 40
40
Ensenada
<TABLE>
<CAPTION>
<S> <C>
$ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 12
------------
Irrevocable Contributions $ 39,117
------------
Return of Capital $ 0
------------
Total $ 39,129
============
Net Income (Loss) for the period
ended 12/31/99 $ 759
============
Cebu
---- $ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 14,769
------------
Cumulative Translation Adjustment $ (5,301)
============
Net Income (Loss) for the
period ended 12/31/99 $ 1,480
============
Cebu Operating
-------------- $ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 1,353
------------
Cumulative Translation Adjustment $ 11
------------
Net Income (Loss) for the
period ended 12/31/99 $ 297
============
CMSG Horizon
------------
$ (000s)
------------
Capitalization at 12/31/99
Shareholder's Equity $ 62,206
------------
Cumulative Translation Adjustment $ (42,815)
------------
Net Income (Loss) for the
period ended 12/31/99 $ (17,378)
============
CMS Generation Michigan Power LLC
---------------------------------
$ (000s)
------------
Capitalization at 12/31/99
Shareholder's Equity $ 74,749
------------
Net Income (Loss) for the
period ended 12/31/99 $ (83)
============
CMS Generation Operating Company
--------------------------------
</TABLE>
<PAGE> 41
41
<TABLE>
<S> <C>
Capitalization at 12/31/99 $ (000s)
------------
Shareholder's Equity $ 4,542
------------
Net Income (Loss) for the
period ended 12/31/99 $ 1,006
============
CMSG Operating Company II
------------------------- $ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 4,318
------------
Net Income (Loss) for the
period ended 12/31/99 $ 817
============
Pinamucan
--------- $ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ (3,696)
------------
Cumulative Translation Adjustment $ (233)
------------
Net Income (Loss) for the
period ended 12/31/99 $ (1,654)
============
Pinamucan Operating
------------------- $ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ (787)
------------
Cumulative Translation Adjustment $ 43
------------
Net Income (Loss) for the
period ended 12/31/99 $ (1,331)
============
CMS International Operating Company
----------------------------------- $ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 7,293
------------
Net Income (Loss) for the
period ended 12/31/99 $ 3,673
============
CMS Morocco
----------- $ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 7,293
------------
Net Income (Loss) for the
period ended 12/31/99 $ 3,673
============
</TABLE>
<PAGE> 42
42
<TABLE>
<S> <C>
CMS Operating S.A.
------------------ $ (000s)
-------------
Capitalization at 12/31/99
Shareholders Equity $ 35,785
-------------
Irrevocable Contributions $ 245,369
-------------
Total $ 281,154
-------------
Net Income (Loss) for the
period ended 12/31/99 $ 5,052
=============
Cataguazes
----------
Capitalization at 12/31/99 $ (000s)
-------------
Stockholder's Equity $ 206,347
-------------
Net Income (Loss) for the
period ended 12/31/99 $ (19,195)
=============
Jaguari
-------
Capitalization at 12/31/99 $ (000s)
-------------
Shareholders' Equity $ 20,573
-------------
Net Income (Loss) for the
period ended 12/31/99 $ 3,406
=============
Mococa
------
Capitalization at 12/31/99 $ (000s)
-------------
Shareholders' Equity $ 8,717
-------------
Net Income (Loss) for the
period ended 12/31/99 $ 1,533
=============
CPEE
---- $ (000s)
-------------
Capitalization at 12/31/99
Shareholders' Equity $ 43,035
-------------
Net Income (Loss) for the
period ended 12/31/99 $ 4,930
=============
Paulista
-------- $ (000s)
-------------
Capitalization at 12/31/99
Shareholders' Equity $ 32,634
-------------
</TABLE>
<PAGE> 43
43
<TABLE>
<S> <C>
Net Income (Loss) for the
period ended 12/31/99 $ 5,999
============
Dearborn Generating Operating
----------------------------- $ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 807
------------
Net Income (Loss) for the
period ended 12/31/99 $ 807
============
Dearborn Industrial Generation
------------------------------ $ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 135,774
------------
Net Income (Loss) for the
period ended 12/31/99 $ 6,630
============
EDEER
----- $ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 183,786
------------
Net Income for the period
Ended 12/31/99 $ 4.024
============
Energipe
--------
$ (000s)
------------
Capitalization at 12/31/99
Stockholder's Equity $ 240,052
------------
Net Income (Loss) for the
period ended 12/31/99 $ (7,876)
============
GMR Vasavi
----------
$ (000s)
------------
Capitalization at 12/31/99
Shareholder's Equity $ 21,163
------------
Net Income (Loss) for the
period ended 12/31/99 $ 11,407
============
GVK
--- $ (000s)
------------
Capitalization at 12/31/99
</TABLE>
<PAGE> 44
44
<TABLE>
<S> <C>
Shareholders' Equity $ 99,720
-----------
Net Income (Loss) for the
period ended 12/31/99 $ 11,944
===========
Hidroelectrica:
$ (000s)
-----------
Capitalization at 12/31/99
Bank Loans $ 200,000
-----------
Shareholders' Equity $ 350,075
-----------
Total Capitalization $ 550,075
===========
*Net Income (Loss) for the
period ended 09/30/99 $ 16,529
===========
*Latest financial information available.
Horizon Energy
Capitalization at 12/31/99 $ (000s)
-----------
Shareholder's Equity $ 828
-----------
Net Income (Loss) for the
period ended 12/31/99 $ (8,976)
==========
Jamaica Private Power
$ (000s)
-----------
Capitalization at 12/31/99
Shareholders' Equity $ 43,389
-----------
Net Income (Loss) for the
period ended 12/31/99 $ 4,181
===========
Jegurupadu Operating
$ (000s)
-----------
Capitalization at 12/31/99 (estimates)
Shareholders' Equity $ (164)
-----------
Advance on Equity $ -0-
-----------
Cumulative Translation Adjustment $ (127)
-----------
Net Income (Loss) for the
period ended 12/31/99 (estimate) $ 79
===========
</TABLE>
<PAGE> 45
45
<TABLE>
<S> <C>
Jorf Lasfar
$ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 177,185
------------
Long Term Loans $ 932,933
------------
Net Income (Loss) for the
period ended 12/31/99 $ 76,128
============
Lakewood
$ (000s)
------------
Capitalization at 12/31/99
Bank Loans $ 174,235
------------
Shareholders' Equity $ 42,740
------------
Total Capitalization $ 216,975
============
Net Income (Loss) for the
period ended 12/31/99 $ 7,570
============
National Power Supply
$ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 134,141
------------
Net Income (Loss) for the
period ended 12/31/99 $ 158
============
PanEnergy Lake Charles Generation
$ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 3,804
------------
Net Income (Loss) for the
period ended 12/31/99 $ 204
============
Private Power
$ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 10
------------
Net Income (Loss) for the
period ended 12/31/99 $ -0-
============
SENECA
Capitalization at 12/31/99 $ (000s)
------------
Shareholder's Equity $ 78,584
------------
</TABLE>
<PAGE> 46
46
<TABLE>
<S> <C>
Net Income (Loss) for the
period ended 12/31/99 $ (17,907)
============
Takoradi International Company
$ (000s)
------------
Capitalization at 12/31/99
Shareholders' Equity $ 64,916
------------
Net Income (Loss) for the
period ended 12/31/99 $ -0-
------------
</TABLE>
(e) IDENTIFY ANY SERVICE, SALES OR CONSTRUCTION CONTRACTS(S) BETWEEN THE
EWG OR FOREIGN UTILITY COMPANY AND A SYSTEM COMPANY, AND DESCRIBE THE SERVICES
TO BE RENDERED OR GOODS SOLD AND FEES OR REVENUES UNDER SUCH AGREEMENT(S).
As of December 31, 1999, Centrales Termicas Mendoza, S.A., has a Contract
of Operation with CMS Operating S.A. This is a consulting contract in connection
with the operation and maintenance of the eligible facility. Total fees earned
in 1999 were $1,309,778.
As of December 31, 1999, CMS Ensenada S.A. maintains a 7 year Operating and
Maintenance Agreement with CMS Operating S.A. to operate and maintain the La
Plata cogeneration plant. This agreement took effect in 1997. Total fees earned
in 1999 were $500,004.
As of December 31, 1999, Toledo Power Company, owned 47.5% by Cebu, has an
operating agreement, effective January 1, 1996, with CMS Generation Cebu
Operating Limited Duration Company. Total fees earned in 1999 were $587,475.
As of December 31, 1999, total Industry Expertise fee earned by CMS
Generation Horizon Energy Holding from Loy Yang were $6,350,802.
As of December 31, 1999, EDEER has a Management, Supervision and Technical
Assistance Contract with CMS Electric and Gas Company. This is a consulting
contract in connection with the operation and maintenance of the foreign
utility. Total fees earned in 1999 were $1,353,057.
As of December 31, 1999, GVK Industries, has a restated 10 year Operation
and Maintenance Agreement with Jegurupadu Operating, effective on the commercial
operation date of the steam turbine unit. Total fees earned in 1999 were
$580,886.
As of December 31, 1999, Jamaica Private Power has an operating agreement
with Private Power. Total fees earned in 1999 were $140,880.
As of December 31, 1999, Jorf Lasfar has an Operating and Maintenance
Agreement with CMS Morocco, effective September 4, 1997. Total fees earned in
1999 under the Operating and Maintenance Agreement were $6,696,531. As of
December 31, 1999, Jorf Lasfar has a Construction Management Agreement with CMS
Resource Development. Total fees earned in 1999 under the Construction
Management Agreement were $2,400,000.
<PAGE> 47
47
As of December 31, 1999, Lakewood maintains a 21 year Operating and
Maintenance Agreement with CMSG Operating Company II to operate and maintain the
EWG. There is an Administrative and General Agreement between Lakewood
Cogeneration, LP and HYDRA-CO Enterprises which expires November 2012 to
maintain the business administration of the EWG. Total fees earned in 1999 were:
<TABLE>
<S> <C>
Operator Fees $ 472,269
Administrative Fees 329,472
-----------
Total Fees $ 801,741
===========
</TABLE>
As of December 31, 1999, Michigan Power, LLC has an operating and
maintenance agreement. Total fees earned in 1999 were $108,337.
On November 25, 1998, CMS Venezuela entered into a Management, Supervision
and Technical Assistance Agreement with SENECA which became effective on January
1, 1999. Total fees earned in 1999 were $1,391,000.
As of December 31, 1999, CMS Generation Company has a Secondment Agreement
to second key operational and maintenance personnel to National Power Supply. No
fees were earned under this agreement in 1999.
<PAGE> 48
48
The above-named Claimant has caused this statement to be duly executed on
its behalf by its authorized officer on this 29th day of February, 2000.
CMS ENERGY CORPORATION,
a Michigan corporation
[CORPORATE SEAL] By /s/ Rodger A. Kershner
-------------------------------------
Rodger A. Kershner
Senior Vice President and
General Counsel
ATTEST:
/s/ Thomas A. McNish
- ---------------------------
Thomas A. McNish
Vice President and Secretary
Name, title, and address of officer to whom notices and correspondence
concerning this Statement should be addressed:
Rodger A. Kershner
Senior Vice President and
General Counsel
CMS Energy Corporation
Fairlane Plaza South
Suite 1100
330 Town Center Drive
Dearborn, Michigan 48126
<PAGE> 49
EXHIBIT A
A consolidating statement of income and surplus of CMS Energy and its
subsidiary companies for the last calendar year, together with a consolidating
balance sheet of CMS Energy and its subsidiary companies as of the close of such
calendar year is attached.
CMS ENERGY CORPORATION
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions, except Per Share Amounts)
<TABLE>
<CAPTION>
Consumers CMS Inter-
Energy Enterprises company CMS Energy
CMS Energy Company Company Elimina- Corporation
Corp.(1) Consol. Consol. tions Consol.
<S> <C> <C> <C> <C> <C>
Operating Revenue
Electric utility $ - $2,667 $ - $ - $2,667
Gas utility - 1,156 - - 1,156
Independent power production - 50 340 - 390
Oil and gas exploration
and production - - 117 (19) 98
Natural gas transmission,
storage and processing - - 819 (34) 785
Marketing, services and trading - - 866 (67) 799
Other 14 1 194 (1) 208
------ ------ ------ ------ ------
Total operating revenue 14 3,874 2,336 (121) 6,103
------ ------ ------ ------ ------
Operating Expenses
Fuel for electric generation - 336 70 - 406
Purchased power -
related parties - 560 - - 560
Purchased and interchange
power - 297 212 - 509
Cost of gas sold - 637 1,027 (118) 1,546
Other operation expense (14) 570 552 (3) 1,105
Maintenance - 174 42 - 216
Depreciation, depletion
and amortization 2 424 169 - 595
General taxes - 201 53 - 254
------ ------ ------ ------ ------
Total operating expenses (12) 3,199 2,125 (121) 5,191
------ ------ ------ ------ ------
Pretax Operating Income (Loss) 26 675 211 - 912
------ ------ ------ ------ ------
Other Income (Deductions)
Dividends and interest
from affiliates 27 11 5 (43) -
Accretion income - 4 - - 4
Accretion expense - (14) - - (14)
Other, net 436 17 3 (436) 20
------ ------ ------ ------ ------
Total other income
(deductions) 463 18 8 (479) 10
------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt 264 140 98 - 502
Other interest 1 41 44 (28) 58
Capitalized interest - - (41) - (41)
Preferred dividends - 6 7 (7) 6
Preferred securities distributions 35 21 - - 56
------ ------ ------ ------ ------
Net fixed charges 300 208 108 (35) 581
------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 189 485 111 (444) 341
Income Taxes (95) 172 (13) - 64
------ ------ ------ ------ ------
Consolidated Net Income (Loss) before
Common Stock Dividends 284 313 124 (444) 277
Dividends on Common Stock 170 262 - (269) 163
------ ------ ------ ------ ------
Consolidated Net Income (Loss) after
Common Stock Dividends $ 114 $ 51 $ 124 $ (175) $ 114
====== ====== ====== ====== ======
Average Number of CMS Energy Common Shares Outstanding 110,140
Basic Earnings Per CMS Energy Average Common Share $ 2.18
Diluted Earnings Per CMS Energy Average Common Share $ 2.17
</TABLE>
(1) Represents CMS Energy Corporation with Consumers Energy Company and CMS
Enterprises Company included on the equity method of accounting.
<PAGE> 50
CONSUMERS ENERGY COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Michigan Huron CMS Inter- Consumers
Consumers Gas Hydro- Midland CMS company Power
Energy Storage carbons Holdings Midland Elimina- Company
Company(2) Company Inc. Company Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Electric $2,667 $ - $ - $ - $ - $ - $2,667
Gas 1,150 23 - - - (17) 1,156
Other 2 - - 11 39 (1) 51
------ ------ ------ ------ ------ ------ ------
Total operating revenue 3,819 23 - 11 39 (18) 3,874
------ ------ ------ ------ ------ ------ ------
Operating Expenses
Fuel for electric generation 336 - - - - - 336
Purchased power -
related parties 560 - - - - - 560
Purchased and interchange
power 297 - - - - - 297
Cost of gas sold 654 - - - - (17) 637
Other operation expense 563 8 - - - (1) 570
Maintenance 171 3 - - - - 174
Depreciation, depletion
and amortization 421 2 - - 1 - 424
General taxes 199 2 - - - - 201
------ ------ ------ ------ ------ ------ ------
Total operating expenses 3,201 15 - - 1 (18) 3,199
------ ------ ------ ------ ------ ------ ------
Pretax Operating Income 618 8 - 11 38 - 675
------ ------ ------ ------ ------ ------ ------
Other Income (Deductions)
Dividends and interest
from affiliates 34 - - - - (23) 11
Accretion income 4 - - - - - 4
Accretion expense (14) - - - - - (14)
Other, net 54 - 1 - - (38) 17
------ ------ ------ ------ ------ ------ ------
Total other income
(deductions) 78 - 1 - - (61) 18
------ ------ ------ ------ ------ ------ ------
Interest Charges
Interest on long-term debt 139 1 - - - - 140
Other interest 63 - - - - (22) 41
Capitalized interest - - - - - - -
------ ------ ------ ------ ------ ------ ------
Net interest charges 202 1 - - - (22) 181
------ ------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 494 7 1 11 38 (39) 512
Income Taxes 154 3 - 2 13 - 172
------ ------ ------ ------ ------ ------ ------
Net Income (Loss) 340 4 1 9 25 (39) 340
Preferred Stock Dividends 6 - - - - - 6
Preferred Securities Distribution 21 - - - - - 21
------ ------ ------ ------ ------ ------ ------
Net Income (Loss) Available
to Common Stockholder 313 4 1 9 25 (39) 313
Dividends on Common Stock 262 - - - - - 262
------ ------ ------ ------ ------ ------ ------
Net Income (Loss) After Common
Dividends $ 51 $ 4 $ 1 $ 9 $ 25 $ (39) $ 51
====== ====== ====== ====== ====== ====== ======
</TABLE>
(2) Represents Consumers Energy Company, CMS Engineering Company, ES Services
Company and Consumers EnergyGuard Services, Inc. consolidated with Michigan
Gas Storage Company, CMS Midland Holdings Company, CMS Midland, Inc. and
Huron Hydrocarbons, Inc. included on the equity method of accounting.
<PAGE> 51
CMS ENTERPRISES COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CMS CMS Gas
CMS Oil and Generation CMS CMS CMS Trans. &
Enterprises Gas Co. Co. Capital Land MS & T Stor. Co.
Company(3) Consol. Consol. Corp. Company Company Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Oil and gas exploration
and production $ - $ 143 $ - $ - $ - $ - $ -
Independent power production - - 340 - - - -
Natural gas transmission, storage
and processing - - - - - - 854
Marketing, services and trading 872
Other (7) - - 17 5 - -
------ ------ ------ ------ ------ ------ ------
Total operating revenue (7) 143 340 17 5 872 854
------ ------ ------ ------ ------ ------ ------
Operating Expenses
Fuel for electric generation - - 72 - - - -
Purchased and interchange
power - - 22 - - 108 -
Cost of gas sold - - - - - 705 387
Other operation expense 13 75 92 2 - 50 256
Maintenance - 2 10 - - - 27
Depreciation, depletion
and amortization - 44 34 - - 3 68
General taxes 1 5 2 - - 2 26
------ ------ ------ ------ ------ ------ ------
Total operating expenses 14 126 232 2 - 868 764
------ ------ ------ ------ ------ ------ ------
Pretax Operating Income (Loss) (21) 17 108 15 5 4 90
------ ------ ------ ------ ------ ------ ------
Other Income (Deductions)
Dividends and interest
from affiliates 3 - 1 25 - 1 4
Other, net 142 - 4 - - - (3)
------ ------ ------ ------ ------ ------ ------
Total other income
(deductions) 145 - 5 25 - 1 1
------ ------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt - 12 25 - - - 61
Other interest 2 3 16 34 - 1 9
Capitalized interest - (2) (31) - - - (8)
Preferred dividends 7 - - - - - -
------ ------ ------ ------ ------ ------ ------
Net fixed charges 9 13 10 34 - 1 62
------ ------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 115 4 103 6 5 4 29
------ ------ ------ ------ ------ ------ ------
Income Taxes (17) (14) 17 2 2 2 (15)
------ ------ ------ ------ ------ ------ ------
Net Income (Loss) $ 122 $ 18 $ 86 $ 4 $ 3 $ 2 $ 44
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 52
CMS ENTERPRISES COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS CMS Inter- CMS
Electric Lake company Enterprises
& Gas Muskegon Elimina- Company
Company Company tions Consol.
<S> <C> <C> <C> <C>
Operating Revenue
Oil and gas exploration
and production $ - $ - $ (26) $ 117
Independent power production - - - 340
Natural gas transmission, storage
and processing - - (35) 819
Marketing, services and trading - (6) 866
Other 177 2 - 194
------ ------ ------ ------
Total operating revenue 177 2 (67) 2,336
------ ------ ------ ------
Operating Expenses
Fuel for electric generation - - (2) 70
Purchased and interchange
power 82 - - 212
Cost of gas sold - - (65) 1,027
Other operation expense 64 - - 552
Maintenance 3 - - 42
Depreciation, depletion
and amortization 20 - - 169
General taxes 17 - - 53
------ ------ ------ ------
Total operating expenses 186 - (67) 2,125
------ ------ ------ ------
Pretax Operating Income (Loss) (9) 2 - 211
------ ------ ------ ------
Other Income (Deductions)
Dividends and interest
from affiliates - - (29) 5
Other, net 2 - (142) 3
------ ------ ------ ------
Total other income
(deductions) 2 - (171) 8
------ ------ ------ ------
Fixed Charges
Interest on long-term debt - - - 98
Other interest 12 - (33) 44
Capitalized interest - - - (41)
Preferred dividends - - - 7
------ ------ ------ ------
Net fixed charges 12 - (33) 108
------ ------ ------ ------
Income (Loss) Before Income Taxes (19) 2 (138) 111
------ ------ ------ ------
Income Taxes (1) 1 - (13)
------ ------ ------ ------
Net Income (Loss) $ (18) $ 1 $ (138) $ 124
====== ====== ====== ======
</TABLE>
(3) Represents CMS Enterprises Company, CMS Capital Financial Services, Inc.,
Monarch Management Corporation, CMS Resource Development Company, CMS
Comercializadora de Energia S.A., CMS Energy Asia Private Limited, CMS
Energy South America Company and CMS Energy UK Limited consolidated with
CMS Oil and Gas Company, CMS Generation Company, CMS Land Company, CMS
Lake Muskegon Company, CMS Marketing, Services and Trading Company, CMS
Gas Transmission and Storage Company, CMS Electric and Gas Company and CMS
Capital Corporation included on the equity method of accounting.
<PAGE> 53
CMS OIL AND GAS COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CMS CMS CMS
CMS O&G Oil & Gas Terra Oil & Gas CMS NOMECO Oil & Gas
Oil and Gas Alba International Energy, Ecuador Venezuela Congo
Company(4) LDC Co. Consol. Ltd. LDC LDC Ltd.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Oil and gas exploration
and production $ 26 $ 2 $ 34 $ 14 $ 23 $ 15 $ 4
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total operating revenue 26 2 34 14 23 15 4
------ ------ ------ ------ ------ ------ ------
Operating Expenses
Other operation expense 36 - 15 3 8 5 1
Maintenance 1 - 1 - - - -
Depreciation, depletion
and amortization 17 1 6 6 6 4 1
General taxes 3 - - 1 - 1 -
------ ------ ------ ------ ------ ------ ------
Total operating expenses 57 1 22 10 14 10 2
------ ------ ------ ------ ------ ------ ------
Pretax Operating Income (Loss) (31) 1 12 4 9 5 2
------ ------ ------ ------ ------ ------ ------
Other Income (Deductions)
Interest from affiliates 1 - - 3 - - -
Other, net 37 1 - - - - -
------ ------ ------ ------ ------ ------ ------
Total other income
(deductions) 38 1 - 3 - - -
------ ------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt 11 1 - - - - -
Other interest 7 - - - - - -
Capitalized interest (2) - - - - - -
------ ------ ------ ------ ------ ------ ------
Net fixed charges 16 1 - - - - -
------ ------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes (9) 1 12 7 9 5 2
------ ------ ------ ------ ------ ------ ------
Income Taxes (27) - 3 - 4 2 -
------ ------ ------ ------ ------ ------ ------
Net Income (Loss) $ 18 $ 1 $ 9 $ 7 $ 5 $ 3 $ 2
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 54
CMS OIL AND GAS COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS Explota- CMS Inter- CMS
Oil & Gas ciones CMS Oil & Gas company Oil and Gas
E.G. Oil & Gas E.G. Elimina- Company
LDC Co. Ltd. tions Consol.
<S> <C> <C> <C> <C> <C>
Operating Revenue
Oil and gas exploration
and production $ 1 $ 4 $ 20 $ - $ 143
Other - - - - -
------ ------ ------ ------ ------
Total operating revenue 1 4 20 - 143
------ ------ ------ ------ ------
Operating Expenses
Other operation expense - 3 4 - 75
Maintenance - - - - 2
Depreciation, depletion
and amortization - 2 1 - 44
General taxes - - - - 5
------ ------ ------ ------ ------
Total operating expenses - 5 5 - 126
------ ------ ------ ------ ------
Pretax Operating Income (Loss) 1 (1) 15 - 17
------ ------ ------ ------ ------
Other Income (Deductions)
Interest from affiliates - - - (4) -
Other, net - - - (38) -
------ ------ ------ ------ ------
Total other income
(deductions) - - - (42) -
------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt - - - - 12
Other interest - - - (4) 3
Capitalized interest - - - - (2)
------ ------ ------ ------ ------
Net fixed charges - - - (4) 13
------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 1 (1) 15 (38) 4
------ ------ ------ ------ ------
Income Taxes - - 4 - (14)
------ ------ ------ ------ ------
Net Income (Loss) $ 1 $ (1) $ 11 $ (38) $ 18
====== ====== ====== ====== ======
</TABLE>
(4) Represents CMS Oil and Gas Company, NOMECO China Oil Co., CMS Oil and Gas
Pipeline Company, CMS OIl and Gas International Ltd. and CMS Oil and Gas
Holdings Ltd. consolidated with CMS Oil and Gas International Company
included on the equity method of accounting.
<PAGE> 55
CMS OIL AND GAS INTERNATIONAL COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CMS NOMECO CMS Oil & CMS Oil & Inter- CMS OIl &
Oil and Gas International Gas Cote Gas Int'l. Company Gas Inter.,
International Congo Hld., d'Ivoire Tunisia, Elimina- Inc.
Co.(5) Inc. Ltd. Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Operating Revenue
Oil and gas exploration
and production $ - $ 25 $ - $ 9 $ - $ 34
Other - - - - - -
------ ------ ------ ------ ------ ------
Total operating revenue - 25 - 9 - 34
------ ------ ------ ------ ------ ------
Operating Expenses
Other operation expense - 11 2 2 - 15
Maintenance - 1 - - - 1
Depreciation, depletion
and amortization - 4 - 2 - 6
General taxes - - - - - -
------ ------ ------ ------ ------ ------
Total operating expenses - 16 2 4 - 22
------ ------ ------ ------ ------ ------
Pretax Operating Income (Loss) - 9 (2) 5 - 12
------ ------ ------ ------ ------ ------
Other Income (Deductions) 7 - - - (7) -
------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt - - - - - -
Other interest - - - - - -
------ ------ ------ ------ ------ ------
Net fixed charges - - - - - -
------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 7 9 (2) 5 (7) 12
------ ------ ------ ------ ------ ------
Income Taxes (2) 3 - 2 - 3
------ ------ ------ ------ ------ ------
Net Income (Loss) $ 9 $ 6 $ (2) $ 3 $ (7) $ 9
====== ====== ====== ====== ====== ======
</TABLE>
(5) Represents CMS Oil and Gas International Company, CMS Oil and Gas Cameroon
Ltd. and CMS Oil and Gas International Transportation Company
consolidated.
<PAGE> 56
CMS GENERATION COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMSG CMSG HYDRA-CO CMSG
CMS Honey Filer Enter- Grayling CMSG Oxford
Generation Lake City prises, Holdings Operating CMS
Co.(6) Company Inc. Consol. Company Company Dev. LP
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent power production $ 26 $ 7 $ 4 $ 73 $ 2 $ 1 $ 1
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total operating revenue 26 7 4 73 2 1 1
------ ------ ------ ------ ------ ------ ------
Operating Expenses
Fuel for electric generation - - - 12 - - -
Purchased and interchange
power - - - - - - -
Other operation expense 30 1 - 10 - - -
Maintenance - - - 2 - - -
Depreciation, depletion
and amortization 5 - - 10 - - -
General taxes 1 - - 1 - - -
------ ------ ------ ------ ------ ------ ------
Total operating expenses 36 1 - 35 - - -
------ ------ ------ ------ ------ ------ ------
Pretax Operating Income (Loss) (10) 6 4 38 2 1 1
------ ------ ------ ------ ------ ------ ------
Other Income (Deductions)
Interest from affiliates 1 - - - - - -
Other, net 79 - - - - - -
------ ------ ------ ------ ------ ------ ------
Total other income
(deductions) 80 - - - - - -
------ ------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt - - - 17 - - -
Other interest 16 - - - - - -
Capitalized interest (31) - - - - - -
------ ------ ------ ------ ------ ------ ------
Fixed charges (15) - - 17 - - -
------ ------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 85 6 4 21 2 1 1
------ ------ ------ ------ ------ ------ ------
Income Taxes - 2 1 8 1 - -
------ ------ ------ ------ ------ ------ ------
Net Income (Loss) $ 85 $ 4 $ 3 $ 13 $ 1 $ 1 $ 1
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 57
CMS GENERATION COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Mid- CMSG CMS CMSG
CMSG CMS Michigan Inv. Co. Morocco Michigan
Holdings Generation CTM Recycling I/II Operating Power
Company S.A. Consol. L.L.C. Consol. Co. SCA LLC
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent power production $ 3 $ (3) $ 135 $ 4 $ 65 $ 7 $ 4
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total operating revenue 3 (3) 135 4 65 7 4
------ ------ ------ ------ ------ ------ ------
Operating Expenses
Fuel for electric generation - - 55 2 - - 1
Purchased and interchange
power - - 22 - - - -
Other operation expense - - 23 2 20 1 1
Maintenance - - 6 - - - 1
Depreciation, depletion
and amortization 2 - 15 - 1 - 1
General taxes - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total operating expenses 2 - 121 4 21 1 4
------ ------ ------ ------ ------ ------ ------
Pretax Operating Income (Loss) 1 (3) 14 - 44 6 -
------ ------ ------ ------ ------ ------ ------
Other Income (Deductions)
Interest from affiliates - - - - - - -
Other, net 1 - 2 - - - -
------ ------ ------ ------ ------ ------ ------
Total other income
(deductions) 1 - 2 - - - -
------ ------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt - - 6 - 8 - -
Other interest - - - - 2 - -
Capitalized interest - - - - - - -
------ ------ ------ ------ ------ ------ ------
Net fixed charges - - 6 - 10 - -
------ ------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 2 (3) 10 - 34 6 -
------ ------ ------ ------ ------ ------ ------
Income Taxes 1 - 5 - (5) 2 -
------ ------ ------ ------ ------ ------ ------
Net Income (Loss) $ 1 $ (3) $ 5 $ - $ 39 $ 4 $ -
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 58
CMS GENERATION COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Dearborn Dearborn Inter- CMS
CMSG CMSG Indust. Generation company Generation
Inv. Co. Altoona Generation Operating Elimina- Company
III Company LLC LLC tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent power production $ 4 $ - $ 10 $ 3 $ (6) $ 340
Other - - - - - -
------ ------ ------ ------ ------ ------
Total operating revenue 4 - 10 3 (6) 340
------ ------ ------ ------ ------ ------
Operating Expenses
Fuel for electric generation - - 2 - - 72
Purchased and interchange
power - - - - - 22
Other operation expense - - - 2 2 92
Maintenance - - 1 - - 10
Depreciation, depletion
and amortization - - - - - 34
General taxes - - - - - 2
------ ------ ------ ------ ------ ------
Total operating expenses - - 3 2 2 232
------ ------ ------ ------ ------ ------
Pretax Operating Income (Loss) 4 - 7 1 (8) 108
------ ------ ------ ------ ------ ------
Other Income (Deductions)
Interest from affiliates - 2 - - (2) 1
Other, net - - - - (78) 4
------ ------ ------ ------ ------ ------
- 2 - - (80) 5
------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt - - - - (6) 25
Other interest - - - - (2) 16
Capitalized Interest - - - - - (31)
------ ------ ------ ------ ------ ------
Net fixed charges - - - - (8) 10
------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 4 2 7 1 (80) 103
------ ------ ------ ------ ------ ------
Income Taxes 1 1 - - - 17
------ ------ ------ ------ ------ ------
Net Income (Loss) $ 3 $ 1 S 7 S 1 $ (80) $ 86
====== ====== ====== ====== ====== ======
</TABLE>
(6) Represents CMS Generation Company, CMSG Filer City Operating Company, CMSG
Grayling Company, CMSG Genesee Company, CMSG Recycling Company, CMSG
Lyonsdale Company, CMSG Chateaugay Company, CMSG Mon Valley Company, CMSG
Michigan Power LLC, CMSG Jorf Lasfar III LDC, Taweelah A2 Operating
Company and CMSG Montreal Company consolidated with HYDRA-CO Enterprises,
Inc., CMS Centrales Termicas S.A., CMSG Investment Company I and CMSG
Investment Company II included on the equity method of accounting.
<PAGE> 59
HYDRA-CO ENTERPRISES, INC.
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
HYDRA-CO CMS HCE Inter- HYDRO-CO
Enter- Generation HCE Rockport- Lakewood company Enter-
prises, Oper. Co. Hudson, Diesel, Cogen. Elimina- prises
Inc.(7) II Inc. Inc. L.P. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent power production $ 10 $ 2 $ 2 $ 2 $ 57 $ - $ 73
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total operating revenue 10 2 2 2 57 - 73
------ ------ ------ ------ ------ ------ ------
Operating Expenses
Fuel for electric generation - - - - 12 - 12
Other operation expense (2) 2 - 2 8 - 10
Maintenance (1) - - - 3 - 2
Depreciation, depletion
and amortization 1 - - - 9 - 10
General taxes - - - - 1 - 1
------ ------ ------ ------ ------ ------ ------
Total operating expenses (2) 2 - 2 33 - 35
------ ------ ------ ------ ------ ------ ------
Pretax Operating Income 12 - 2 - 24 - 38
------ ------ ------ ------ ------ ------ ------
Other Income (Deductions) 5 1 - - 1 (7) -
------ ------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt - - - - 17 - 17
Other interest - - - - - - -
Capitalized interest - - - - - - -
------ ------ ------ ------ ------ ------ ------
Net fixed charges - - - - 17 - 17
------ ------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 17 1 2 - 8 (7) 21
------ ------- ------ ------ ------ ------ ------
Income Taxes 7 - 1 - - - 8
------ ------ ------ ------ ------ ------ ------
Net Income (Loss) $ 10 $ 1 $ 1 $ - $ 8 $ (7) $ 13
====== ====== ====== ====== ====== ====== ======
</TABLE>
(7) Represents HYDRA-CO Enterprises, Inc., CMSG Stratton Company, HCE
Appomattox, Inc., HCE Biopower, Inc., HCE Jamaica Development, Inc., HCE
Lakewood, Inc., HCE Jamaica, Inc., HCE Imperial Valley, Inc. and New Bern
Energy Recovery, Inc. consolidated.
<PAGE> 60
CMS CENTRALES TERMICAS S.A.
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Centrales Inter-
CMS Cuyana Termicas CMS company
Operating S.A. de Mendoza Ensenada Elimina- CTM
S.A. Inversiones S.A. S.A. tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent power production $ 2 $ - $ 91 $ 44 $ (2) $ 135
Other - - - - - -
------ ------ ------ ------ ------ ------
Total operating revenue 2 - 91 44 (2) 135
------ ------ ------ ------ ------ ------
Operating Expenses
Fuel for electric generation - - 40 17 (2) 55
Purchased and interchange
power - - 21 1 - 22
Other operation expense 2 - 10 11 - 23
Maintenance - - 5 1 - 6
Depreciation, depletion
and amortization - - 10 5 - 15
General taxes - - - - - -
------ ------ ------ ------ ------ ------
Total operating expenses 2 - 86 35 (2) 121
------ ------ ------ ------ ------ ------
Pretax Operating Income - - 5 9 - 14
------ ------ ------ ------ ------ ------
Other Income (Deductions) 5 4 2 - (9) 2
------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt - - - 6 - 6
Other interest - - - - - -
Capitalized Interest - - - - - -
------ ------ ------ ------ ------ ------
Net fixed charges - - - 6 - 6
------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 5 4 7 3 (9) 10
------ ------ ------ ------ ------ ------
Income Taxes - - 3 2 - 5
------ ------ ------ ------ ------ ------
Net Income (Loss) $ 5 $ 4 $ 4 $ 1 $ (9) $ 5
====== ====== ====== ====== ====== ======
</TABLE>
<PAGE> 61
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Jeguru- CMSG CMSG CMSG
CMSG padu CMSG CMSG Loy Yang Loy Yang Jorf
Inv. Co. O&M Co. Pinamucan Cebu Holdings Holdings Lasfar
I/II(8) Mauritius LDC LDC 1 Ltd. 2 Ltd. I/II LDC
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent power production $ 2 $ 1 $ (1) $ 2 $ (2) $ 4 $ (2)
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total operating revenue 2 1 (1) 2 (2) 4 (2)
------ ------ ------ ------ ------ ------ ------
Operating Expenses
Fuel for electric generation - - - - - - -
Other operation expense (1) - 2 1 - 7 2
Depreciation, depletion
and amortization 1 1 - (1) - - -
General taxes - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total operating expenses - 1 2 - - 7 2
------ ------ ------ ------ ------ ------ ------
Pretax Operating Income (Loss) 2 - (3) 2 (2) (3) (4)
------ ------ ------ ------ ------ ------ ------
Other Income (Deductions)
Interest from affiliates 38 - - - - - -
Other, net 5 - - - - - -
------ ------ ------ ------ ------ ------ ------
Total other income
(deductions) 43 - - - - - -
------ ------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt - - - - - - -
Other interest 2 - - - 19 19 -
Capitalized interest - - - - - - -
------ ------ ------ ------ ------ ------ ------
Net fixed charges 2 - - - 19 19 -
------ ------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 43 - (3) 2 (21) (22) (4)
------ ------ ------ ------ ------ ------ ------
Income Taxes 4 - - - (4) (5) -
------ ------ ------ ------ ------ ------ ------
Net Income (Loss) $ 39 $ - $ (3) $ 2 $ (17) $ (17) $ (4)
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 62
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
National Jorf Jorf Inter- CMSG
Power Lasfar Jorf Lasfar company Investment
Supply Monetize Handels- Lasfar Power Elimina- Co. I/II
Co., Ltd. Limited bolag I HB Energy HB tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent power production $ 17 $ 5 $ 1 $ 19 $ 19 $ - $ 65
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total operating revenue 17 5 1 19 19 - 65
------ ------ ------ ------ ------ ------ ------
Operating Expenses
Fuel for electric generation - - - - - - -
Other operation expense 9 - - - - - 20
Depreciation, depletion
and amortization - - - - - - 1
General taxes - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total operating expenses 9 - - - - - 21
------ ------ ------ ------ ------ ------ ------
Pretax Operating Income (Loss) 8 5 1 19 19 - 44
------ ------ ------ ------ ------ ------ ------
Other Income (Deductions)
Interest from affiliates - - - - - (38) -
Other, net - - - - - (5) -
------ ------ ------ ------ ------ ------ ------
- - - - - (43) -
------ ------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt 8 - - - - - 8
Other interest - - - - - (38) 2
Capitalized Interest - - - - - - -
------ ------ ------ ------ ------ ------ ------
Net fixed charges 8 - - - - (38) 10
------ ------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes - 5 1 19 19 (5) 34
------ ------ ------ ------ ------ ------ ------
Income Taxes - - - - - - (5)
------ ------ ------ ------ ------ ------ ------
Net Income (Loss) $ - $ 5 $ 1 $ 19 $ 19 $ (5) $ 39
====== ====== ====== ====== ====== ====== ======
</TABLE>
(8) Represents CMSG Investment Company I, CMSG Investment Company II, CMSG Jorf
Lasfar I LDC, CMSG Jorf Lasfar II LDC and CMSG Taweelah Ltd. consolidated.
<PAGE> 63
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CMS CMS Panhandle CMS
CMS Gas CMS Marysville Gas Jackson Eastern Grand Lacs
Transmission Antrim Gas Liquids Argentina Pipeline Pipe Line Holding
Company(9) Company Company Company Company Co. Consol. Company
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Natural gas transmission,
storage and processing $ 2 $ 13 $ 4 $ 12 $ 2 $ 343 $ 6
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total operating revenue 2 13 4 12 2 343 6
------ ------ ------ ------ ------ ------ ------
Operating Expenses
Cost of gas sold - - - - - - -
Other operation expense 98 2 1 - - 128 1
Maintenance - 1 - - - 23 -
Depreciation, depletion
and amortization - 2 - 2 1 45 2
General taxes - 1 1 - - 22 -
------ ------ ------ ------ ------ ------ ------
Total operating expenses 98 6 2 2 1 218 3
------ ------ ------ ------ ------ ------ ------
Pretax Operating Income (Loss) (96) 7 2 10 1 125 3
------ ------ ------ ------ ------ ------ ------
Other Income (Deductions)
Interest from affiliates 3 - - - - 2 -
Other, net 90 - - - - - 2
------ ------ ------ ------ ------ ------ ------
Total other income
(deductions) 93 - - - - 2 2
------ ------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt - 3 - - - 58 -
Other interest 4 - - - - 1 -
Capitalized interest (8) - - - - - -
------ ------ ------ ------ ------ ------ ------
Net fixed charges (4) 3 - - - 59 -
------ ------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 1 4 2 10 1 68 5
------ ------ ------ ------ ------ ------ ------
Income Taxes (45) 1 1 - - 27 2
------ ------ ------ ------ ------ ------ ------
Net Income (Loss) $ 46 $ 3 $ 1 $ 10 $ 1 $ 41 $ 3
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 64
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS Golds- CMS Gas CMS Gas CMS Grand Inter- CMS Gas
field GT Trans. Trans. of Field Lacs Company Transmission
Aust. Pty. del Sur Australia Services, Limited Elimina- Company
Ltd. Company Trust Inc. Consol. Part. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Natural gas transmission,
storage and processing $ 10 $ (3) $ 8 $ 448 $ 9 $ - $ 854
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total operating revenue 10 (3) 8 448 9 - 854
------ ------ ------ ------ ------ ------ ------
Operating Expenses
Cost of gas sold - - - 387 - - 387
Other operation expense - - 3 18 5 - 256
Maintenance - - - 3 - - 27
Depreciation, depletion
and amortization - - 2 14 - - 68
General taxes - - 1 1 - - 26
------ ------ ------ ------ ------ ------ ------
Total operating expenses - - 6 423 5 - 764
------ ------ ------ ------ ------ ------ ------
Pretax Operating Income (Loss) 10 (3) 2 25 4 - 90
------ ------ ------ ------ ------ ------ ------
Other Income (Deductions)
Interest from affiliates - - - - - (1) 4
Other, net - 1 - - - (96) (3)
------ ------ ------ ------ ------ ------ ------
Total other income
(deductions) - 1 - - - (97) 1
------ ------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt - - - - - - 61
Other interest 2 - - 4 - (2) 9
Capitalized interest - - - - - - (8)
------ ------ ------ ------ ------ ------ ------
Net fixed charges 2 - - 4 - (2) 62
------ ------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 8 (2) 2 21 4 (95) 29
------ ------ ------ ------ ------ ------ ------
Income Taxes 1 - - (2) - - (15)
------ ------ ------ ------ ------ ------ ------
Net Income (Loss) $ 7 $ (2) $ 2 $ 23 $ 4 $ (95) $ 44
====== ====== ====== ====== ====== ====== ======
</TABLE>
(9) Represents CMS Gas Transmission and Storage Company, CMS Saginaw Bay
Company, CMS Saginaw Bay Lateral Company and Tristate Pipeline, LLC
consolidated with CMS Field Services, Inc. and Panhandle Eastern Pipe Line
Company included on the equity method of accounting.
<PAGE> 65
PANHANDLE EASTERN PIPE LINE COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Panhandle Inter- CMS Gas
Eastern Pipe Trunkline Trunkline Pan Gas Company Transmission
Line Co. Gas LNG Storage Elimina- Company
Consol. (10) Company Company Company tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Operating Revenue
Natural gas transmission,
storage and processing $ 250 $ 114 $ 13 $ 32 $ (66) $ 343
Other - - - - - -
------ ------ ------ ------ ------ ------
Total operating revenue 250 114 13 32 (66) 343
------ ------ ------ ------ ------ ------
Operating Expenses
Cost of gas sold - - - - - -
Other operation expense 103 48 5 4 (32) 128
Maintenance 11 10 1 1 - 23
Depreciation, depletion
and amortization 29 13 1 2 - 45
General taxes 14 6 1 1 - 22
------ ------ ------ ------ ------ ------
Total operating expenses 157 77 8 8 (32) 218
------ ------ ------ ------ ------ ------
Pretax Operating Income (Loss) 93 37 5 24 (34) 125
------ ------ ------ ------ ------ ------
Other Income (Deductions)
Interest from affiliates 14 (12) - - - 2
Other, net - - - - - -
------ ------ ------ ------ ------ ------
Total other income
(deductions) 14 (12) - - - 2
------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt 58 - - - - 58
Other interest 1 - - - - 1
Capitalized interest - - - - - -
------ ------ ------ ------ ------ ------
Net fixed charges 59 - - - - 59
------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 48 25 5 24 (34) 68
------ ------ ------ ------ ------ ------
Income Taxes 7 9 2 9 - 27
------ ------ ------ ------ ------ ------
Net Income (Loss) $ 41 $ 16 $ 3 $ 15 $ (34) $ 41
====== ====== ====== ====== ====== ======
</TABLE>
(10) Represents Pnahandle Eastern Pipe Line Company, CMS Panhandle Eastern
Resources, Inc., CMS Panhandle Storage Company, Trunkline Field Services
Company and CMS Trunkline Pipeline Holdings, Inc. consolidated.
<PAGE> 66
CMS FIELD SERVICES, INC.
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CNG/Taurus CNG CNG Cherokee
Field Holdings CNG Gas Laverne Nat. Gas Gas Bradshaw
Services, Company, Processing, Gas Proc., Gathering Processing Energy
Inc.(11) Inc. LLC LLC LLC LLC LLC
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Natural gas transmission,
storage and processing $ 321 $ 18 $ 54 $ 7 $ 4 $ 22 $ 2
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total operating revenue 321 18 54 7 4 22 2
------ ------ ------ ------ ------ ------ ------
Operating Expenses
Cost of gas sold 289 12 49 5 - 16 -
Other operation expense 8 2 1 1 1 2 1
Maintenance - 1 1 - 1 - -
Depreciation, depletion
and amortization 1 2 3 - 3 3 1
General taxes - 1 - - - - -
------ ------ ------ ------ ------ ------ ------
Total operating expenses 298 18 54 6 5 21 2
------ ------ ------ ------ ------ ------ ------
Pretax Operating Income (Loss) 23 - - 1 (1) 1 -
------ ------ ------ ------ ------ ------ ------
Other Income (Deductions)
Interest from affiliates - - - - - - -
Other, net - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total other income
(deductions) - - - - - - -
------ ------ ------ ------ ------ ------ ------
Fixed Charges
Interest on long-term debt - - - - - - -
Other interest 4 - - - - - -
Capitalized interest - - - - - - -
------ ------ ------ ------ ------ ------ ------
Net fixed charges 4 - - - - - -
------ ------ ------ ------ ------ ------ ------
Income (Loss) Before Income Taxes 19 - - 1 (1) 1 -
------ ------ ------ ------ ------ ------ ------
Income Taxes (2) - - - - - -
------ ------ ------ ------ ------ ------ ------
Net Income (Loss) $ 21 $ - $ - $ 1 $ (1) $ 1 $ -
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 67
CMS FIELD SERVICES, INC.
Consolidating Statement of Income
For the Year Ended December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Heritage Roaring Inter- CMS
Gas Creek Company Field
Gathering Gas Svcs. Elimina- Services,
LLC LLC tions Inc. Consol.
<S> <C> <C> <C> <C>
Operating Revenue
Natural gas transmission,
storage and processing $ 16 $ 4 $ - $ 448
Other - - - -
------ ------ ------ ------
Total operating revenue 16 4 - 448
------ ------ ------ ------
Operating Expenses
Cost of gas sold 13 3 - 387
Other operation expense 1 1 - 18
Maintenance - - - 3
Depreciation, depletion
and amortization 1 - - 14
General taxes - - - 1
------ ------ ------ ------
Total operating expenses 15 4 - 423
------ ------ ------ ------
Pretax Operating Income (Loss) 1 - - 25
------ ------ ------ ------
Other Income (Deductions)
Interest from affiliates - - - -
Other, net - - - -
------ ------ ------ ------
Total other income
(deductions) - - - -
------ ------ ------ ------
Fixed Charges
Interest on long-term debt - - - -
Other interest - - - 4
Capitalized interest - - - -
------ ------ ------ ------
Net fixed charges - - - 4
------ ------ ------ ------
Income (Loss) Before Income Taxes 1 - - 21
------ ------ ------ ------
Income Taxes - - - (2)
------ ------ ------ ------
Net Income (Loss) $ 1 $ - $ - $ 23
====== ====== ====== ======
</TABLE>
(11) Represents CMS Field Services, Inc., Continential Spearman Gas Processing,
LLC, Continential/Oklahoma Natural Gas Gathering LLC and Continential
Hydrocarbons, LLC consolidated.
<PAGE> 68
CMS ENERGY CORPORATION
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Consumers CMS Inter-
Energy Enterprises company CMS Energy
CMS Energy Company Company Elimina- Corporation
Corp.(1) Consol. Consol. tions Consol.
<S> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Electric $ - $6,981 $ - $ - $ 6,981
Gas - 2,461 - - 2,461
Natural gas transmission,
storage and processing - - 1,934 - 1,934
Oil and gas properties - - 817 - 817
Independent power production - - 974 - 974
International energy distribution - - 445 - 445
Other 12 25 25 - 62
------ ------ ------ ------- -------
12 9,467 4,195 - 13,674
Less accumulated depreciation,
depletion and amortization 7 5,643 507 - 6,157
------ ------ ------ ------- -------
5 3,824 3,688 - 7,517
Construction work-in-progress - 199 405 - 604
------ ------ ------ ------- -------
5 4,023 4,093 - 8,121
------ ------ ------ ------- -------
Investments
Associated companies 7,061 139 71 (7,271) -
Independent power production - - 950 - 950
Natural gas transmission, storage
and processing - - 369 - 369
International energy distribution - - 150 - 150
First Midland Limited
Partnership - 240 - - 240
Midland Cogeneration
Venture - 247 - - 247
Other - - 40 - 40
------ ------ ------ ------- -------
7,061 626 1,580 (7,271) 1,996
------ ------ ------ ------- -------
Current Assets
Cash and temporary cash
investments (23) 18 137 - 132
Accounts receivable 121 (37) 965 (292) 757
Accrued revenues - 202 - - 202
Inventories to average cost
Gas in underground storage - 216 9 - 225
Materials and supplies - 62 96 - 158
Generating plant fuel
stock - 46 1 - 47
Deferred income taxes 6 8 19 - 33
Prepayments and other 1 184 78 - 263
------ ------ ------ ------- -------
105 699 1,305 (292) 1,817
------ ------ ------ ------- -------
Non-current Assets
Goodwill, net - - 891 - 891
Nuclear decommissioning
trust funds - 602 - - 602
Unamortized nuclear costs - 519 - - 519
Postretirement benefits 2 341 5 - 348
Abandoned Midland project - 48 - - 48
Other 1,369 312 917 (1,478) 1,120
------ ------ ------ ------- -------
1,371 1,822 1,813 (1,478) 3,528
------ ------ ------ ------- -------
Total Assets $8,542 $7,170 $8,791 $(9,041) $15,462
====== ====== ====== ======= =======
</TABLE>
(1) Represents CMS Energy Corporation with Consumers Energy Company and CMS
Enterprises Company included on the equity method of accounting.
<PAGE> 69
CMS ENERGY CORPORATION
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Consumers CMS Inter-
Energy Enterprises company CMS Energy
CMS Energy Company Company Elimina- Corporation
Corp.(1) Consol. Consol. tions Consol.
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ 1 $ 841 $ - $ (841) $ 1
Other paid-in-capital 2,970 645 5,306 (6,172) 2,749
Currency translation (108) - (181) 181 (108)
Revaluation capital 3 37 19 (56) 3
Retained earnings (189) 485 (307) (178) (189)
------ ------ ------ ------- -------
2,677 2,008 4,837 (7,066) 2,456
Preferred stock 125 44 49 (174) 44
Company-obligated mandatorily
redeemable Trust
Preferred Securities of:
Consumers Power Company
Financing I (a) - 100 - - 100
Consumers Energy Company
Financing II (a) - 120 - - 120
Consumers Energy Company
Financing III (a) - 175 - - 175
Company-obligated convertible
Trust Preferred Securities of
CMS Energy Trust I (b) 173 - - - 173
CMS Energy Trust II (b) 301 - - - 301
Company-obligated Trust
Preferred Securities of
CMS RHINOS Trust (c) 250 - - - 250
Long-term debt 4,236 2,006 2,168 (1,423) 6,987
Non-current capital leases - 85 3 - 88
------ ------ ------ ------- -------
7,762 4,538 7,057 (8,663) 10,694
------ ------ ------ ------- -------
Current Liabilities
Current portion of long-term
debt 430 55 31 - 516
Current capital leases - 35 1 - 36
Notes payable 135 214 42 (161) 230
Accounts payable 7 224 542 2 775
Accounts payable - related
parties - 82 67 (88) 61
Power purchases - 47 - - 47
Accrued interest 83 37 47 (19) 148
Accrued taxes 78 232 20 (10) 320
Accrued refunds - 11 - - 11
Other 9 139 217 (2) 363
------ ------ ------ ------- -------
742 1,076 967 (278) 2,507
------ ------ ------ ------- -------
Non-current Liabilities
Deferred income taxes 11 700 70 (78) 703
Postretirement benefits 17 420 48 - 485
Deferred investment tax credit - 125 - - 125
Power purchases - 73 - - 73
Regulatory liabilities for
income taxes, net - 64 - - 64
Other 10 174 649 (22) 811
------ ------ ------ ------- -------
38 1,556 767 (100) 2,261
------ ------ ------ ------- -------
Total Stockholders' Equity
and Liabilities $8,542 $7,170 $8,791 $(9,041) $15,462
====== ====== ====== ======= =======
</TABLE>
(a) The primary asset of Consumers Power Company Financing I is $103 million
principal amount of 8.36 percent subordinated deferrable interest notes due 2015
from Consumers. The primary asset of Consumers Energy Company Financing II is
$124 million principal amount of 8.20 percent subordinated deferrable interest
notes due 2027 from Consumers. The primary asset of Consumers Energy Company
Financing III is $180 million principal amount of 9.25 percent subordinated
deferrable interest notes due 2029 from Consumers.
(b) The primary asset of CMS Energy Trust I is $178 million principal amount of
7.75 percent convertible subordinated debentures due 2027 from CMS Energy. The
primary asset of CMS Energy Trust II is $310 million principal amount of 8.625
percent convertible junior subordinated debentures due July 2004 from CMS
Energy.
(c) The primary asset of CMS RHINOS Trust is $258 million principal amount of
LIBOR plus 1.75 percent subordinated debentures due September 2001 from CMS
Energy.
(1) Represents CMS Energy Corporation and Consumers Energy Company and CMS
Enterprises Company included on the equity method of accounting.
<PAGE> 70
CONSUMERS ENERGY COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Michigan Huron CMS Inter- Consumers
Consumers Gas Hydro- Midland CMS company Energy
Energy Storage carbons Holdings Midland Elimina- Company
Company(2) Company Inc. Company Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Electric $6,981 $ - $ - $ - $ - $ - $6,981
Gas 2,346 115 - - - - 2,461
Other 25 - - - - - 25
------ ------ ------ ------ ------ ------ ------
9,352 115 - - - - 9,467
Less accumulated depreciation,
depletion and amortization 5,587 56 - - - - 5,643
------ ------ ------ ------ ------ ------ ------
3,765 59 - - - - 3,824
Construction work-in-progress 196 3 - - - - 199
------ ------ ------ ------ ------ ------ ------
3,961 62 - - - - 4,023
------ ------ ------ ------ ------ ------ ------
Investments
Associated companies 534 - - - - (395) 139
First Midland Limited
Partnership - - - 240 - - 240
Midland Cogeneration
Venture - - - - 247 - 247
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
534 - - 240 247 (395) 626
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments 5 2 9 1 1 - 18
Accounts receivable (31) 3 - - 10 (19) (37)
Accrued revenues 202 - - - - - 202
Inventories to average cost
Gas in underground storage 216 - - - - - 216
Materials and supplies 62 - - - - - 62
Generating plant fuel
stock 46 - - - - - 46
Deferred income taxes (5) - - 13 - - 8
Postretirement benefits 25 - - - - - 25
Prepayments and other 158 1 - - - - 159
------ ------ ------ ------ ------ ------ ------
678 6 9 14 11 (19) 699
------ ------ ------ ------ ------ ------- ------
Non-current Assets
Nuclear decommissioning
trust funds 602 - - - - - 602
Unamortized nuclear costs 519 - - - - - 519
Postretirement benefits 337 4 - - - - 341
Abandoned Midland project 48 - - - - - 48
Other 718 1 - - - (407) 312
------ ------ ------ ------ ------ ------ ------
2,224 5 - - - (407) 1,822
------ ------ ------ ------ ------ ------ ------
Total Assets $7,397 $ 73 $ 9 $ 254 $ 258 $ (821) $7,170
====== ====== ====== ====== ====== ====== ======
</TABLE>
(2) Represents Consumers Energy Company, CMS Engineering Company, ES Services
Company, Consumers EnergyGuard Services, Inc. and MEC Development
Corporation consolidated with Michigan Gas Storage Company, CMS Midland
Holdings Company, CMS Midland, Inc. and Huron Hydrocarbons, Inc. included
on the equity method of accounting.
<PAGE> 71
CONSUMERS ENERGY COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Michigan Huron CMS Inter- Consumers
Consumers Gas Hydro- Midland CMS company Energy
Energy Storage carbons Holdings Midland Elimina- Company
Company(2) Company Inc. Company Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ 841 $ 15 $ - $ - $ - $ (15) $ 841
Other paid-in-capital 658 - 3 34 166 (216) 645
Revaluation capital 37 - - - - - 37
Retained earnings 485 30 6 31 97 (164) 485
------ ------ ------ ------ ------ ------ ------
2,021 45 9 65 263 (395) 2,008
Preferred stock 44 - - - - - 44
Company-obligated mandatorily
redeemable Trust Preferred
Securities of:
Consumers Power Company
Financing I (a) 100 - - - - - 100
Consumers Energy Company
Financing II (a) 120 - - - - - 120
Consumers Energy Company
Financing III (a) 175 - - - - - 175
Long-term debt 2,413 - - - - (407) 2,006
Non-current capital leases 85 - - - - - 85
------ ------ ------ ------ ------ ------ ------
4,958 45 9 65 263 (802) 4,538
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt 55 - - - - - 55
Current capital leases 35 - - - - - 35
Notes payable 224 5 - - - (15) 214
Accounts payable 220 4 - - - - 224
Accounts payable - related
parties 84 1 - - - (3) 82
Power purchases 47 - - - - - 47
Accrued interest 36 1 - - 1 (1) 37
Accrued taxes 227 1 - 4 - - 232
Accrued refunds 3 8 - - - - 11
Other 138 1 - - - - 139
------ ------ ------ ------ ------ ------ ------
1,069 21 - 4 1 (19) 1,076
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Deferred income taxes 539 2 - 166 (7) - 700
Postretirement benefits 415 5 - - - - 420
Deferred investment tax credit 105 - - 19 1 - 125
Power purchases 73 - - - - - 73
Regulatory liabilities for
income taxes, net 64 - - - - - 64
Other 174 - - - - - 174
------ ------ ------ ------ ------ ------ ------
1,370 7 - 185 (6) - 1,556
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $7,397 $ 73 $ 9 $ 254 $ 258 $ (821) $7,170
====== ====== ====== ====== ====== ====== ======
</TABLE>
(a) The primary asset of Consumers Power Company Financing I is $103 million
principal amount of 8.36 percent subordinated deferrable interest notes due 2015
from Consumers. The primary asset of Consumers Energy Company Financing II is
$124 million principal amount of 8.20 percent subordinated deferrable interest
notes due 2027 from Consumers. The primary asset of Consumers Energy Company
Financing III is $180 million principal amount of 9.25 percent subordinated
deferrable interest notes due 2029 from Consumers.
(2) Represents Consumers Energy Company, CMS Engineering Company, ES Services
Company, Consumers EnergyGuard Services, Inc. and MEC Development
Corporation consolidated with Michigan Gas Storage Company, CMS Midland
Holdings Company, CMS Midland, Inc. and Huron Hydrocarbons, Inc. included
on the equity method of accounting.
<PAGE> 72
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CMS CMS CMS Gas
CMS Oil and Generation Resource CMS CMS Tran. & Stor.
Enterprises Gas Co. Co. Dev. Land MS & T Company
Company(3) Consol. Consol. Co. Company Company Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Oil and gas properties $ - $ 817 $ - $ - $ - $ - $ -
Natural gas transmission, storage
and processing - - - - - - 1,935
Independent power production - - 974 - - - -
International energy distribution - - - - - - -
Other 3 - - - 15 6 -
------ ------ ------ ------ ------ ------ ------
3 817 974 - 15 6 1,935
Less accumulated depreciation,
depletion and amortization 2 290 76 - - 2 98
------ ------ ------ ------ ------ ------ ------
1 527 898 - 15 4 1,837
Construction work-in-progress - - 290 - - - 92
------ ------ ------ ------ ------ ------ ------
1 527 1,188 - 15 4 1,929
------ ------ ------ ------ ------ ------ ------
Investments
Associated companies 4,922 - - - - - -
Independent power production - - 950 - - - -
Natural gas transmission, storage
and processing - - - - - - 429
International energy distribution - - - - - - -
Other 1 2 - - 10 27 -
------ ------ ------ ------ ------ ------ ------
4,923 2 950 - 10 27 429
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments 6 14 23 (4) - 47 25
Accounts receivable 58 81 279 4 - 306 425
Gas in underground storage - - - - - 7 2
Materials and supplies - 26 19 - - - 41
Generating plant fuel stock - - 1 - - - -
Deferred income taxes - 8 3 - - - 8
Prepayments and other 9 6 35 12 - 5 11
------ ------ ------ ------ ------ ------ ------
73 135 360 12 - 365 512
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Goodwill, net - - 14 - - 15 805
Postretirement benefits - - 5 - - - -
Other 16 23 175 1 - 334 76
------ ------ ------ ------ ------ ------ ------
16 23 194 1 - 349 881
------ ------ ------ ------ ------ ------ -----
Total Assets $5,013 $ 687 $2,692 $ 13 $ 25 $ 745 $3,751
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 73
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS CMS Inter- CMS
Electric CMS Lake company Enterprises
& Gas Capital Muskegon Elimina- Company
Company Corp. Company tions Consol.
<S> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Oil and gas properties $ - $ - $ - $ - $ 817
Natural gas transmission, storage
and processing - - - (1) 1,934
Independent power production - - - - 974
International energy distribution 445 - - - 445
Other - 1 - - 25
------ ------ ------- ------- ------
445 1 - (1) 4,195
Less accumulated depreciation,
depletion and amortization 39 - - - 507
------ ------ ------- ------- ------
406 1 - (1) 3,688
Construction work-in-progress 23 - - - 405
------ ------ ------- ------- ------
429 1 - (1) 4,093
------ ------ ------- ------- ------
Investments
Associated companies - - - (4,851) 71
Independent power production - - - - 950
Natural gas transmission, storage
and processing - - - (60) 369
International energy distribution 150 - - - 150
Other - - - - 40
------ ------ ------- ------- ------
150 - - (4,911) 1,580
------ ------ ------- ------- ------
Current Assets
Cash and temporary cash
investments 18 8 - - 137
Accounts receivable 75 290 2 (555) 965
Gas in underground storage - - - - 9
Materials and supplies 10 - - - 96
Generating plant fuel stock - - - - 1
Deferred income taxes - - - - 19
Prepayments and other - - - - 78
------ ------ ------- ------- ------
103 298 2 (555) 1,305
------ ------ ------- ------- ------
Non-current Assets
Goodwill, net 57 - - - 891
Postretirement benefits - - - - 5
Other 41 326 - (75) 917
------ ------ ------- ------- ------
98 326 - (75) 1,813
------ ------ ------- ------- ------
Total Assets $ 780 $ 625 $ 2 $(5,542) $8,791
====== ====== ======= ======= ======
</TABLE>
(3) Represents CMS Enterprises Company, CMS Capital Financial Services, Inc.,
Monarch Management Company, CMS Comercializadora de Energia S.A., CMS
Energy Asia Private Limited, CMS Energy South America Company and CMS
Energy UK Limited consolidated with CMS Oil and Gas Company, CMS
Generation Company, CMS Land Company, CMS Lake Muskegon Company, CMS
Capital Corporation, CMS Marketing, Services and Trading Company, CMS Gas
Transmission and Storage Company, CMS Resource Development Company and CMS
Electric and Gas Company included on the equity method of accounting.
<PAGE> 74
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CMS CMS CMS Gas
CMS Oil and Generation Resource CMS CMS Tran. & Stor.
Enterprises Gas Co. Co. Dev. Land MS & T Company
Company(3) Consol. Consol. Co. Company Company Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ 1 $ 173 $ - $ - $ - $ - $ -
Other paid-in-capital 5,314 93 2,004 7 21 132 2,087
Currency translation (182) - (93) - - - (5)
Revaluation capital 19 1 (7) - - - -
Retained earnings (302) 88 (117) 3 (1) 7 (36)
------ ------ ------ ------ ------ ------ ------
4,850 355 1,787 10 20 139 2,046
Preferred stock 49 - - - - - -
Long-term debt - 236 454 - - - 1,180
Non-current capital leases - - - - - - 3
------ ------ ------ ------ ------ ------ ------
4,899 591 2,241 10 20 139 3,229
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - 1 24 - - - 6
Current capital leases - - - - - - 1
Notes payable 3 4 119 - 2 26 17
Accounts payable 5 68 124 1 - 210 97
Accounts payable - related
parties 89 9 20 - - 18 28
Accrued interest - 4 6 - - - 30
Accrued taxes (7) (3) 28 - - 3 4
Other 8 6 24 1 - 2 138
------ ------ ------ ------ ------ ------ ------
98 89 345 2 2 259 321
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits 6 6 4 1 - 3 19
Deferred income taxes 9 (1) 25 - 3 - 33
Deferred investment tax credit - - - - - - -
Other 1 2 77 - - 344 149
------ ------ ------ ------ ------ ------ ------
16 7 106 1 3 347 201
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $5,013 $ 687 $2,692 $ 13 $ 25 $ 745 $3,751
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 75
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS CMS Inter- CMS
Electric Lake CMS company Enterprises
& Gas Muskegon Capital Elimina- Company
Company Company Corp. tions Consol.
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ (174) $ -
Other paid-in-capital 589 1 13 (4,955) 5,306
Currency translation (82) - - 181 (181)
Revaluation capital - - - 6 19
Retained earnings (33) 1 10 73 (307)
------ ------ ------ ------- ------
474 2 23 (4,869) 4,837
Preferred stock - - - - 49
Long-term debt 81 - 292 (75) 2,168
Non-current capital leases - - - - 3
------ ------ ------ ------- ------
555 2 315 (4,944) 7,057
------ ------ ------ ------- ------
Current Liabilities
Current portion of long-term
debt - - - - 31
Current capital leases - - - - 1
Notes payable 4 - 297 (430) 42
Accounts payable 35 - 5 (3) 542
Accounts payable - related
parties 6 - 1 (104) 67
Accrued interest - - 7 - 47
Accrued taxes (4) - - (1) 20
Other 38 - - - 217
------ ------ ------ ------- ------
79 - 310 (538) 967
------ ------ ------ ------- ------
Non-current Liabilities
Postretirement benefits 9 - - - 48
Deferred income taxes - - - 1 70
Deferred investment tax credit - - - - -
Other 137 - - (61) 649
------ ------ ------ ------- ------
146 - - (60) 767
------ ------ ------ ------- ------
Total Stockholders' Equity
and Liabilities $ 780 $ 2 $ 625 $(5,542) $8,791
====== ====== ====== ======= ======
</TABLE>
(3) Represents CMS Enterprises Company, CMS Capital Financial Services, Inc.,
Monarch Management Company, CMS Comercializadora de Energia S.A., CMS
Energy Asia Private Limited, CMS Energy South America Company and CMS
Energy UK Limited consolidated with CMS Oil and Gas Company, CMS
Generation Company, CMS Land Company, CMS Lake Muskegon Company, CMS
Capital Corporation, CMS Marketing, Services and Trading Company, CMS Gas
Transmission and Storage Company, CMS Resource Development Company and CMS
Electric and Gas Company included on the equity method of accounting.
<PAGE> 76
CMS OIL AND GAS COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS Explota- CMS Oil and CMS CMS CMS
CMS O&G ciones CMS Gas Inter- Oil & Gas NOMECO Oil & Gas
Oil and Gas Alba Oil & Gas national Ecuador Venezuela Interna.
Company(4) LDC Co. Ltd. LDC LDC Co. Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (Suc Efforts)
Oil and gas properties $ 293 $ 10 $ 33 $ - $ 95 $ 61 $ 122
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
293 10 33 - 95 61 122
Less accumulated depreciation,
depletion and amortization 138 1 21 - 67 19 18
------ ------ ------ ------ ------ ------ ------
155 9 12 - 28 42 104
Construction work-in-progress - - - - - - -
------ ------ ------ ------ ------ ------ ------
155 9 12 - 28 42 104
------ ------ ------ ------ ------ ------ ------
Investments
Associated companies 302 - - 196 - - -
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
302 - - 196 - - -
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments - - 1 - - - 6
Accounts receivable 101 - - 33 5 4 20
Materials and supplies - 1 2 - 2 - 16
Deferred income taxes 8 - - - - - -
Prepayments and other - - - - 1 - 1
------ ------ ------ ------ ------ ------ ------
109 1 3 33 8 4 43
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Postretirement benefits - - - - - - -
Other 3 2 - - - 1 6
------ ------ ------ ------ ------ ------ ------
3 2 - - - 1 6
------ ------ ------ ------ ------ ------ ------
Total Assets $ 569 $ 12 $ 15 $ 229 $ 36 $ 47 $ 153
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 77
CMS OIL AND GAS COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS CMS CMS Terra CMS CMS
Oil & Gas Oil & Gas NOMECO Energy OIl & Gas Oil & Gas
E.G. E.G. Congo Ltd., Pipeline Congo
LDC Ltd. LDC Consol. Company Ltd.
<S> <C> <C> <C> <C> <C> <C>
Plant and Property (Suc Efforts)
Oil and gas properties $ 7 $ 108 $ - $ 76 $ - $ 12
Other - - - - - -
------ ------ ------ ------ ------ ------
7 108 - 76 - 12
Less accumulated depreciation,
depletion and amortization 1 6 - 18 - 1
------ ------ ------ ------ ------ ------
6 102 - 58 - 11
Construction work-in-progress - - - - - -
------ ------ ------ ------ ------ ------
6 102 - 58 - 11
------ ------ ------ ------ ------ ------
Investments
Associated companies - - - - - -
Other - - - 2 - -
------ ------ ------ ------ ------ ------
- - - 2 - -
------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments - 5 - 1 - 1
Accounts receivable - 10 - 20 1 -
Materials and supplies 1 1 - 2 - 1
Deferred income taxes - - - - - -
Prepayments and other - 3 - 1 - -
------ ------ ------ ------ ------ ------
1 19 - 24 1 2
------ ------ ------ ------ ------ ------
Non-current Assets
Postretirement benefits - - - - - -
Other 1 4 - 6 - -
------ ------ ------ ------ ------ ------
1 4 - 6 - -
------ ------ ------ ------ ------ ------
Total Assets $ 8 $ 125 $ - $ 90 $ 1 $ 13
====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 78
CMS OIL AND GAS COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Inter- CMS
company Oil and Gas
Elimina- Company
tions Consol.
<S> <C> <C>
Plant and Property (Suc Efforts)
Oil and gas properties $ - $ 817
Other - -
------ ------
- 817
Less accumulated depreciation,
depletion and amortization - 290
------ ------
- 527
Construction work-in-progress - -
------ ------
- 527
------ ------
Investments
Associated companies (498) -
Other - 2
------ ------
(498) 2
------ ------
Current Assets
Cash and temporary cash
investments - 14
Accounts receivable (113) 81
Materials and supplies - 26
Deferred income taxes - 8
Prepayments and other - 6
------ ------
(113) 135
------ ------
Non-current Assets
Postretirement benefits - -
Other - 23
------ ------
- 23
------ ------
Total Assets $ (611) $ 687
====== ======
</TABLE>
(4) Represents CMS Oil and Gas Company and NOMECO China Oil Co. consolidated
with CMS Oil and Gas International Company and Terra Energy, Ltd. included
on the equity method of accounting.
<PAGE> 79
CMS OIL AND GAS COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS Explota- CMS Oil & CMS CMS CMS
CMS O&G ciones CMS Gas Inter- Oil & Gas NOMECO Oil & Gas
Oil and Gas Alba Oil and Gas national Ecuador Venezuela Interna.
Company(4) LDC Co. Ltd. LDC LDC Co. Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ 173 $ - $ - $ 1 $ - $ - $ -
Other paid-in-capital 93 9 51 190 71 43 26
Revaluation capital 1 - - - - - -
Retained earnings 88 2 (30) (14) (25) - 21
------ ------ ------ ------ ------ ------ ------
355 11 21 177 46 43 47
Preferred stock - - - - - - -
Long-term debt 234 - - - - - -
Non-current capital leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
589 11 21 177 46 43 47
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - - - - - - 1
Notes payable 4 - - 47 - - -
Accounts payable 15 - 2 - 3 2 22
Accounts payable - related
parties (50) - - - - - 78
Accrued interest 9 - - 5 - - -
Accrued taxes 2 - (1) - - 2 1
Other 3 - - - - - -
------ ------ ------ ------ ------ ------ ------
(17) - 1 52 3 4 102
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits 6 - - - - - -
Deferred income taxes (9) - (7) - (13) - 3
Deferred investment tax credit - - - - - - -
Other - 1 - - - - 1
------ ------ ------ ------ ------ ------ ------
(3) 1 (7) - (13) - 4
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $ 569 $ 12 $ 15 $ 229 $ 36 $ 47 $ 153
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 80
CMS OIL AND GAS COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS CMS Terra CMS CMS CMS
Oil & Gas Oil & Gas NOMECO Energy NOMECO Oil & Gas Oil & Gas
E.G. E.G. China Ltd., Congo Congo Pipeline
LDC Ltd. OIl Co. Consol. LDC Ltd. Co.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 6 63 2 26 - 8 (1)
Revaluation capital - - - - - - -
Retained earnings 2 14 (2) 32 - 2 1
------ ------ ------ ------ ------ ------ ------
8 77 - 58 - 10 -
Preferred stock - - - - - - -
Long-term debt - - - 2 - - -
Non-current capital leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
8 77 - 60 - 10 -
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - - - - - - -
Notes payable - 5 - - - - -
Accounts payable - 11 - 12 - - 1
Accounts payable - related
parties - 27 - 2 - 3 -
Accrued interest - - - - - - -
Accrued taxes - - - (1) - - -
Other - - - 3 - - -
------ ------ ------ ------ ------ ------ ------
- 43 - 16 - 3 1
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits - - - - - - -
Deferred income taxes - 5 - 14 - - -
Deferred investment tax credit - - - - - - -
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
- 5 - 14 - - -
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $ 8 $ 125 $ - $ 90 $ - $ 13 $ 1
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 81
CMS OIL AND GAS COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Inter- CMS
company Oil and Gas
Elimina- Company
tions Consol.
<S> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ (1) $ 173
Other paid-in-capital (494) 93
Revaluation capital - 1
Retained earnings (3) 88
------ ------
(498) 355
Preferred stock - -
Long-term debt - 236
Non-current capital leases - -
------ ------
(498) 591
------ ------
Current Liabilities
Current portion of long-term
debt - 1
Notes payable (52) 4
Accounts payable - 68
Accounts payable - related
parties (51) 9
Accrued interest (10) 4
Accrued taxes (6) (3)
Other - 6
------ ------
(119) 89
------ ------
Non-current Liabilities
Postretirement benefits - 6
Deferred income taxes 6 (1)
Deferred investment tax credit - -
Other - 2
------ ------
6 7
------ ------
Total Stockholders' Equity
and Liabilities $ (611) $ 687
====== ======
</TABLE>
(4) Represents CMS Oil and Gas Company consolidated with CMS Oil and Gas
International Company and Terra Energy, Ltd. included on the equity method
of accounting.
<PAGE> 82
CMS OIL AND GAS INTERNATIONAL COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CMS NOMECO CMS Oil & CMS Inter- CMS
Oil & Gas International Gas Int'l Oil & Gas company Oil & Gas
International Congo Hld., Tunisia, Cameroon, Elimina- Interna.
Co.(5) Inc. Inc. Ltd. tions Co. Consol.
<S> <C> <C> <C> <C> <C> <C>
Plant and Property (Suc Efforts)
Oil and gas properties $ 1 $ 83 $ 36 $ 2 $ - $ 122
Other - - - - - -
------ ------ ------ ------ ------ ------
1 83 36 2 - 122
Less accumulated depreciation,
depletion and amortization - 16 2 - - 18
------ ------ ------ ------ ------ ------
1 67 34 2 - 104
Construction work-in-progress - - - - - -
------ ------ ------ ------ ------ ------
1 67 34 2 - 104
------ ------ ------ ------ ------ ------
Investments
Associated companies 49 - - - (49) -
Other - - - - - -
------ ------ ------ ------ ------ ------
49 - - - (49) -
------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments - 4 1 1 - 6
Accounts receivable 69 17 6 - (72) 20
Materials and supplies - 14 2 - - 16
Prepayments and other - 1 - - - 1
------ ------ ------ ------ ------ ------
69 36 9 1 (72) 43
------ ------ ------ ------ ------ ------
Non-current Assets
Postretirement benefits - - - - - -
Other 1 2 2 1 - 6
------ ------ ------ ------ ------ ------
1 2 2 1 - 6
------ ------ ------ ------ ------ ------
Total Assets $ 120 $ 105 $ 45 $ 4 $ (121) $ 153
====== ====== ====== ====== ====== ======
</TABLE>
(5) Represents CMS Oil and Gas International Company, CMS Oil and Gas Cote
d'Ivoire Ltd. and CMS Oil and Gas International Transportation Company
consolidated.
<PAGE> 83
CMS OIL AND GAS INTERNATIONAL COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CMS NOMECO CMS Oil & CMS OIl & CMS Inter CMS
Oil & Gas International Gas Cote Gas Int'l Oil & Gas company Oil & Gas
International Congo Hld., d'Ivoire Tunisia, Cameroon, Elimina- Interna.
Co.(5) Inc. Ltd. Inc. Inc. tions Co. Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 26 19 6 8 - (33) 26
Retained earnings 21 18 (6) 4 - (16) 21
------ ------ ------ ------ ------ ------ ------
47 37 - 12 - (49) 47
Preferred stock - - - - - - -
Long-term debt - - - - - - -
Non-current capital leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
47 37 - 12 - (49) 47
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - 1 - - - - 1
Notes payable - - - - - - -
Accounts payable - 18 - 2 2 - 22
Accounts payable - related
parties 73 46 - 29 2 (72) 78
Accrued interest - - - - - - -
Accrued taxes - 1 - - - - 1
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
73 66 - 31 4 (72) 102
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits - - - - - - -
Deferred income taxes - 2 - 1 - - 3
Deferred investment tax credit - - - - - - -
Other - - - 1 - - 1
------ ------ ------ ------ ------ ------ ------
- 2 - 2 - - 4
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $ 120 $ 105 $ - $ 45 $ 4 $ (121) $ 153
====== ====== ====== ====== ====== ====== ======
</TABLE>
(5) Represents CMS Oil and Gas International Company and CMS Oil and Gas
International Transportation Company consolidated.
<PAGE> 84
TERRA ENERGY, LTD.
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Energy Inter-
Terra Terra Acquis. company Terra
Energy, Pipeline Kristen Oper. Elimina- Energy,
Ltd. Co. Corp. Co. tions Ltd. Consol.
<S> <C> <C> <C> <C> <C> <C>
Plant and Property (Suc Efforts)
Oil and gas properties $ 76 $ - $ - $ - $ - $ 76
Other - - - - - -
------ ------ ------ ------ ------ ------
76 - - - - 76
Less accumulated depreciation,
depletion and amortization 18 - - - - 18
------ ------ ------ ------ ------ ------
58 - - - - 58
Construction work-in-progress - - - - - -
------ ------ ------ ------ ------ ------
58 - - - - 58
------ ------ ------ ------ ------ ------
Investments
Associated companies 5 - - - (5) -
Other 2 - - - - 2
------ ------ ------ ------ ------ ------
7 - - - (5) 2
------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments 1 - - - - 1
Accounts receivable 21 1 3 1 (6) 20
Materials and supplies 2 - - - - 2
Prepayments and other 1 - - - - 1
------ ------ ------ ------ ------ ------
25 1 3 1 (6) 24
------ ------ ------ ------ ------ ------
Non-current Assets
Postretirement benefits - - - - - -
Other 6 - - - - 6
------ ------ ------ ------ ------ ------
6 - - - - 6
------ ------ ------ ------ ------ ------
Total Assets $ 96 $ 1 $ 3 $ 1 $ (11) $ 90
====== ====== ====== ====== ====== ======
</TABLE>
<PAGE> 85
TERRA ENERGY, LTD.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Energy Inter
Terra Terra Acquis. company Terra
Energy, Pipeline Kristen Oper. Elimina- Energy,
Ltd. Co. Corp. Co. tions Ltd. Consol.
<S> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ -
Other paid-in-capital 26 - 1 - (1) 26
Retained earnings 32 - 3 1 (4) 32
------ ------ ------ ------ ------ ------
58 - 4 1 (5) 58
Preferred stock - - - - - -
Long-term debt 2 - - - - 2
Non-current capital leases - - - - - -
------ ------ ------ ------ ------ ------
60 - 4 1 (5) 60
------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - - - - - -
Notes payable - - - - - -
Accounts payable 12 - - - - 12
Accounts payable - related
parties 8 1 (1) - (6) 2
Accrued interest - - - - - -
Accrued taxes (1) - - - - (1)
Other 3 - - - - 3
------ ------ ------ ------ ------ ------
22 1 (1) - (6) 16
------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits - - - - - -
Deferred income taxes 14 - - - - 14
Deferred investment tax credit - - - - - -
Other - - - - - -
------ ------ ------ ------ ------ ------
14 - - - - 14
------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $ 96 $ 1 $ 3 $ 1 $ (11) $ 90
====== ====== ====== ====== ====== ======
</TABLE>
<PAGE> 86
CMS GENERATION COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMSG CMSG CMSG CMSG
CMS Honey Filer CMSG Grayling CMSG Filer
Generation Lake City, Grayling Holdings Operating City Oper.
Co. (6) Company Inc. Company Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Independent power production $ 1 $ - $ - $ - $ - $ - $ -
Less accumulated depreciation,
depletion and amortization 1 - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
Construction work-in-progress 1 - - - - - -
------ ------ ------ ------ ------ ------ ------
1 - - - - - -
------ ------ ------ ------ ------ ------ ------
Investments
Associated companies 1,685 - - - - - -
Other 18 33 15 1 7 - -
------ ------ ------ ------ ------ ------ ------
1,703 33 15 1 7 - -
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments - - - - - - -
Accounts receivable 63 4 2 - - 12 4
Materials and supplies - - - - - - -
Generating plant fuel stock - - - - - - -
Deferred income taxes 3 - - - - - -
Prepayments and other 4 - - - - 5 -
------ ------ ------ ------ ------ ------ ------
70 4 2 - - 17 4
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Goodwill, net - - - - - - -
Postretirement benefits - - - - - - -
Other 131 - - - - - -
------ ------ ------ ------ ------ ------ ------
131 - - - - - -
------ ------ ------ ------ ------ ------ ------
Total Assets $1,905 $ 37 $ 17 $ 1 $ 7 $ 17 $ 4
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 87
CMS GENERATION COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Dearborn Mid- CMSG CMSG HYDRA-CO
Indust. CMS CMSG Michigan Invest. Michigan Enter-
Generation Generation Recycling Recycling Co. I/II Power prises
LLC S.A. Company L.L.C. Consol. LLC Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Independent power production $ - $ - $ - $ 3 $ 339 $ 73 $ 242
Less accumulated depreciation,
depletion and amortization - - - 1 - 1 33
------ ------ ------ ------ ------ ------ ------
- - - 2 339 72 209
Construction work-in-progress 221 - - - 66 - -
------ ------ ------ ------ ------ ------ ------
221 - - 2 405 72 209
------ ------ ------ ------ ------ ------ ------
Investments
Associated companies - - 2 - - - -
Other - 40 - - 711 - 82
------ ------ ------ ------ ------ ------ ------
- 40 2 - 711 - 82
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments (31) - - 2 15 - 1
Accounts receivable - 1 - 2 67 1 45
Materials and supplies - - - - 3 - -
Generating plant fuel stock - - - - - 1 -
Deferred income taxes - - - - - - -
Prepayments and other 17 - - - - 2 3
------ ------ ------ ------ ------ ------ ------
(14) 1 - 4 85 4 49
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Goodwill, net - - - - 14 - -
Postretirement benefits - - - - - - -
Other - - - - 20 - 23
------ ------ ------ ------ ------ ------ ------
- - - - 34 - 23
------ ------ ------ ------ ------ ------ ------
Total Assets $ 207 $ 41 $ 2 $ 6 $1,235 $ 76 $ 363
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 88
CMS GENERATION COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS Oxford/ CMSG Dearborn
CMSG CMSG Morocco CMS Invest. Generation
Holdings Altoona CTM Operating Development Company Operating
Company Company Consol. Co. SCA L.P. III LLC
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Independent power production $ - $ - $ 316 $ - $ - $ - $ -
Less accumulated depreciation,
depletion and amortization - - 40 - - - -
------ ------ ------ ------ ------ ------ ------
- - 276 - - - -
Construction work-in-progress - - 2 - - - -
------ ------ ------ ------ ------ ------ ------
- - 278 - - - -
------ ------ ------ ------ ------ ------ ------
Investments
Associated companies 1 - - - - - -
Other 5 - 9 - 9 20 -
------ ------ ------ ------ ------ ------ ------
6 - 9 - 9 20 -
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments - - 35 1 - - -
Accounts receivable 7 45 53 11 - 7 2
Materials and supplies - - 16 - - - -
Generating plant fuel stock - - - - - - -
Deferred income taxes - - - - - - -
Prepayments and other - - - 2 - 2 -
------ ------ ------ ------ ------ ------ ------
7 45 104 14 - 9 2
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Goodwill, net - - - - - - -
Postretirement benefits - - 5 - - - -
Other - - 1 - - - -
------ ------ ------ ------ ------ ------ ------
- - 6 - - - -
------ ------ ------ ------ ------ ------ ------
Total Assets $ 13 $ 45 $ 397 $ 14 $ 9 $ 29 $ 2
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 89
CMS GENERATION COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Inter- CMS
company Generation
Elimina- Company
tions Consol.
<S> <C> <C>
Plant and Property (At Cost)
Independent power production $ - $ 974
Less accumulated depreciation,
depletion and amortization - 76
------- ------
- 898
Construction work-in-progress - 290
------- ------
- 1,188
------- ------
Investments
Associated companies (1,688) -
Other - 950
------- ------
(1,688) 950
------- ------
Current Assets
Cash and temporary cash
investments - 23
Accounts receivable (47) 279
Materials and supplies - 19
Generating plant fuel stock - 1
Deferred income taxes - 3
Prepayments and other - 35
------- ------
(47) 360
------- ------
Non-current Assets
Goodwill, net - 14
Postretirement benefits - 5
Other - 175
------- ------
- 194
------- ------
Total Assets $(1,735) $2,692
======= ======
</TABLE>
(6) Represents CMS Generation Company, CMSG Mon Valley Company, CMSG Genesee
Company, CMSG Lyonsdale Company, CMSG Chateaugay Company, CMSG Montreal
Company, CMS Jorf Lasfar III LDC and Taweelah A2 Operating Company
consolidated with HYDRA-CO Enterprises, Inc., CMS Centrales Termicas S.A.,
CMSG Investment Company I and CMSG Investment Company II included on the
equity method of accounting.
<PAGE> 90
CMS GENERATION COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMSG CMSG CMSG CMSG
CMS Honey Filer CMSG Grayling CMSG Filer
Generation Lake City, Grayling Holdings Operating City Oper.
Co.(6) Company Inc. Company Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ 1 $ -
Other paid-in-capital 2,008 10 6 4 7 3 -
Currency translation (93) - - - - - -
Revaluation capital (7) - - - - - -
Retained earnings (119) 16 10 (4) (6) 1 -
------ ------ ------ ------ ------ ------ ------
1,789 26 16 - 1 5 -
Preferred stock - - - - - - -
Long-term debt 26 - - - - - -
Non-current capital leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
1,815 26 16 - 1 5 -
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - - - - - - -
Current capital leases - - - - - - -
Notes payable 46 1 - - - - 2
Accounts payable 9 - - 1 - - -
Accounts payable - related
parties 8 - - - - - -
Accrued interest - - - - - - -
Accrued taxes (6) 2 - - - 5 1
Other 4 - - - - 6 1
------ ------ ------ ------ ------ ------ ------
61 3 - 1 - 11 4
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits 3 - - - - 1 -
Deferred income taxes 25 8 1 - 6 - -
Deferred investment tax credit - - - - - - -
Other 1 - - - - - -
------ ------ ------ ------ ------ ------ ------
29 8 1 - 6 1 -
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $1,905 $ 37 $ 17 $ 1 $ 7 $ 17 $ 4
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 91
CMS GENERATION COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Dearborn Mid- CMSG CMSG HYDRA-CO
Indust. CMS CMSG Michigan Inv. Co. Michigan Enter-
Generation Generation Recycling Recycling I/II Power prises
LLC S.A. Company L.L.C. Consol. LLC Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 129 44 3 4 846 75 253
Currency translation - - - - (90) - -
Revaluation capital - - - - - - -
Retained earnings 7 (5) (1) - 108 - (117)
------ ------ ------ ------ ------ ------ ------
136 39 2 4 864 75 136
Preferred stock - - - - - - -
Long-term debt - - - - 194 - 175
Non-current capital leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
136 39 2 4 1,058 75 311
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - - - - 9 - 8
Current capital leases - - - - - - -
Notes payable 67 - - 1 41 - 2
Accounts payable 1 2 - 1 85 1 9
Accounts payable - related
parties 1 - - - 12 - 1
Accrued interest - - - - 8 - -
Accrued taxes - - - - 2 - 6
Other 2 - - - 3 - 1
------ ------ ------ ------ ------ ------ ------
71 2 - 2 160 1 27
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits - - - - - - -
Deferred income taxes - - - - (35) - 16
Deferred investment tax credit - - - - - - -
Other - - - - 52 - 9
------ ------ ------ ------ ------ ------ ------
- - - - 17 - 25
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $ 207 $ 41 $ 2 $ 6 $1,235 $ 76 $ 363
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 92
CMS GENERATION COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS Oxford/ CMSG Dearborn
CMSG CMSG Morocco CMS Invest. Generation
Holdings Altoona CTM Operating Development Company Operating
Company Company Consol. Co. SCA L.P. III LLC
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 12 39 281 2 41 24 -
Currency translation - - - - - (3) -
Revaluation capital - - - - - - -
Retained earnings (6) 4 5 6 (32) 5 1
------ ------ ------ ------ ------ ------ ------
6 43 286 8 9 26 1
Preferred stock - - - - - - -
Long-term debt - - 59 - - - -
Non-current capital leases - - - - - - -
------ ------ ------ ------ ------- ------ ------
6 43 345 8 9 26 1
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - - 7 - - - -
Current capital leases - - - - - - -
Notes payable - 1 - - - - (1)
Accounts payable - 1 12 3 - - 2
Accounts payable - related
parties - - - - - - -
Accrued interest - - 1 - - - -
Accrued taxes - - 14 3 - 3 -
Other - - 7 - - - -
------ ------ ------ ------ ------ ------ ------
- 2 41 6 - 3 1
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits - - - - - - -
Deferred income taxes 2 - - - - - -
Deferred investment tax credit - - - - - - -
Other 5 - 11 - - - -
------ ------ ------ ------ ------ ------ ------
7 - 11 - - - -
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $ 13 $ 45 $ 397 $ 14 $ 9 $ 29 $ 2
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 93
CMS GENERATION COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Inter- CMS
company Generation
Elimina- Company
tions Consol.
<S> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ (1) $ -
Other paid-in-capital (1,787) 2,004
Currency translation 93 (93)
Revaluation capital - (7)
Retained earnings 10 (117)
------- ------
(1,685) 1,787
Preferred stock - -
Long-term debt - 454
Non-current capital leases - -
------- ------
(1,685) 2,241
------- ------
Current Liabilities
Current portion of long-term
debt - 24
Current capital leases - -
Notes payable (41) 119
Accounts payable (3) 124
Accounts payable - related
parties (2) 20
Accrued interest (3) 6
Accrued taxes (2) 28
Other - 24
------- ------
(51) 345
------- ------
Non-current Liabilities
Postretirement benefits - 4
Deferred income taxes 2 25
Deferred investment tax credit - -
Other (1) 77
------- ------
1 106
------- ------
Total Stockholders' Equity
and Liabilities $(1,735) $2,692
======= ======
</TABLE>
(6) Represents CMS Generation Company, CMSG Mon Valley Company, CMSG Genesee
Company, CMSG Lyonsdale Company, CMSG Chateaugay Company, CMSG Montreal
Company, CMS Jorf Lasfar III LDC and Taweelah A2 Operating Company
consolidated with HYDRA-CO Enterprises, Inc., CMS Centrales Termicas S.A.,
CMSG Investment Company I and CMSG Investment Company II included on the
equity method of accounting.
<PAGE> 94
HYDRA-CO ENTERPRISES, INC.
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
HYDRO-CO CMS New HCE
Enter- Generation HCE Bern HCE Rockfort HCE
prises Oper. Co. Appomatox Energy Hudson, Diesel, Lakewood
Inc.(7) II Inc. Rec. Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Independent power production $ - $ 3 $ - $ - $ - $ - $ -
Less accumulated depreciation,
depletion and amortization (6) - - - - - -
------ ------ ------ ------ ------ ------ ------
6 3 - - - - -
Construction work-in-progress - - - - - - -
------ ------ ------ ------ ------ ------ ------
6 3 - - - - -
------ ------ ------ ------ ------ ------ ------
Investments
Associated companies 77 - - - - - 1
Other 46 - 1 2 11 21 -
------ ------ ------ ------ ------ ------ ------
123 - 1 2 11 21 1
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments - 1 - - - - -
Accounts receivable 23 9 1 - 1 2 1
Materials and supplies - - - - - - -
Prepayments and other - - - - 2 - -
------ ------ ------ ------ ------ ------ ------
23 10 1 - 3 2 1
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Postretirement benefits - - - - - - -
Other 3 - - - - - -
------ ------ ------ ------ ------ ------ ------
3 - - - - - -
------ ------ ------ ------ ------ ------ ------
Total Assets $ 155 $ 13 $ 2 $ 2 $ 14 $ 23 $ 2
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 95
HYDRA-CO ENTERPRISES, INC.
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
HCE Inter- HYDRA-CO
Lakewood Imperial CMSG company Enter-
Cogen. Valley, Stratton Elimina- prises
L.P. Inc. Co. tions Consol.
<S> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Independent power production $ 239 $ - $ - $ - $ 242
Less accumulated depreciation,
depletion and amortization 39 - - - 33
------ ------ ------ ------ ------
200 - - - 209
Construction work-in-progress - - - - -
------ ------ ------ ------ ------
200 - - - 209
------ ------ ------ ------ ------
Investments
Associated companies - - - (78) -
Other - 1 - - 82
------ ------ ------ ------ ------
- 1 - (78) 82
------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments - - - - 1
Accounts receivable 8 - 5 (5) 45
Materials and supplies - - - - -
Prepayments and other 1 - - - 3
------ ------ ------ ------ ------
9 - 5 (5) 49
------ ------ ------ ------ ------
Non-current Assets
Postretirement benefits - - - - -
Other 18 - 2 - 23
------ ------ ------ ------ ------
18 - 2 - 23
------ ------ ------ ------ ------
Total Assets $ 227 $ 1 $ 7 $ (83) $ 363
====== ====== ====== ====== ======
</TABLE>
(7) Represents HYDRA-CO Enterprises, Inc. and HCE Jamaica Development, Inc.
consolidated.
<PAGE> 96
HYDRO-CO ENTERPRISES, INC.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
HYDRO-CO CMS New HCE
Enter- Generation HCE Bern HCE Rockfort HCE
prises Oper. Co. Appomatox Energy Hudson, Diesel, Lakewood
Inc.(7) II Inc. Rec. Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 253 4 2 1 9 19 1
Currency translation - - - - - - -
Revaluation capital - - - - - - -
Retained earnings (121) - - 1 4 - -
------ ------ ------ ------ ------ ------ ------
132 4 2 2 13 19 1
Preferred stock - - - - - - -
Long-term debt - - - - - 1 -
Non-current capital leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
132 4 2 2 13 20 1
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - - - - - - -
Current capital leases - - - - - - -
Notes payable 1 - - - - - 1
Accounts payable 4 6 - - - - -
Accounts payable - related
parties 2 1 - - - - -
Accrued interest - - - - - - -
Accrued taxes 4 1 - - - - -
Other (1) 1 - - - - -
------ ------ ------ ------ ------ ------ ------
10 9 - - - - 1
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits - - - - - - -
Deferred income taxes 13 - - - 1 3 -
Deferred investment tax credit - - - - - - -
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
13 - - - 1 3 -
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $ 155 $ 13 $ 2 $ 2 $ 14 $ 23 $ 2
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 97
HYDRO-CO ENTERPRISES, INC.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
HCE Inter- HYDRA-CO
Lakewood Imperial CMSG company Enter-
Cogen. Valley, Stratton Elimina- prises
L.P. Inc. Co. tions Consol.
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ -
Other paid-in-capital 35 2 20 (93) 253
Currency translation - - - - -
Revaluation capital - - - - -
Retained earnings 8 - (15) 6 (117)
------ ------ ------ ------ ------
43 2 5 (87) 136
Preferred stock - - - - -
Long-term debt 174 - - - 175
Non-current capital leases - - - - -
------ ------ ------ ------ ------
217 2 5 (87) 311
------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt 8 - - - 8
Current capital leases - - - - -
Notes payable - - - - 2
Accounts payable 2 - - (3) 9
Accounts payable - related
parties - - - (2) 1
Accrued interest - - - - -
Accrued taxes - - 1 - 6
Other - - 1 - 1
------ ------ ------ ------ ------
10 - 2 (5) 27
------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits - - - - -
Deferred income taxes - (1) - - 16
Deferred investment tax credit - - - - -
Other - - - 9 9
------ ------ ------ ------ ------
- (1) - 9 25
------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $ 227 $ 1 $ 7 $ (83) $ 363
====== ====== ====== ====== ======
</TABLE>
(7) Represents HYDRA-CO Enterprises, Inc. and HCE Jamaica Development, Inc.
consolidated.
<PAGE> 98
CMS CENTRALES TERMICAS S.A
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Centrales Inter-
CMS Cuyana Termicas CMS company
Operating S.A. de Mendoza Ensenada Elimina- CTM
S.A. Inversiones S.A. S.A. tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Independent power production $ 4 $ - $ 218 $ 94 $ - $ 316
Less accumulated depreciation,
depletion and amortization - - 29 11 - 40
------ ------ ------ ------ ------- ------
4 - 189 83 - 276
Construction work-in-progress - - 2 - - 2
------ ------ ------ ------ ------- ------
4 - 191 83 - 278
------ ------ ------ ------ ------- ------
Investments
Associated companies 271 236 - - (507) -
Other 9 - - - - 9
------ ------ ------ ------ ------- ------
280 236 - - (507) 9
------ ------ ------ ------ ------- ------
Current Assets
Cash and temporary cash
investments 1 - 25 9 - 35
Accounts receivable 2 - 31 21 (1) 53
Materials and supplies - - 16 - - 16
Deferred income taxes - - - - - -
Prepayments and other - - - - - -
------ ------ ------ ------ ------- ------
3 - 72 30 (1) 104
------ ------ ------ ------ ------- ------
Non-current Assets
Postretirement benefits - - 5 - - 5
Other - - - 1 - 1
------ ------ ------ ------ ------- ------
- - 5 1 - 6
------ ------ ------ ------ ------- ------
Total Assets $ 287 $ 236 $ 268 $ 114 $ (508) $ 397
====== ====== ====== ====== ======= ======
</TABLE>
<PAGE> 99
CMS CENTRALES TERMICAS S.A
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Centrales Inter-
CMS Cuyana Termicas CMS company
Operating S.A. de Mendoza Ensenada Elimina- CTM
S.A. Inversiones S.A. S.A. tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ -
Other paid-in-capital 278 236 229 39 (501) 281
Currency translation - - - - - -
Revaluation capital - - - - - -
Retained earnings 5 - 7 (1) (6) 5
------ ------ ------ ------ ------- ------
283 236 236 38 (507) 286
Preferred stock - - - - - -
Long-term debt - - - 59 - 59
Non-current capital leases - - - - - -
------ ------ ------ ------ ------- ------
283 236 236 97 (507) 345
------ ------ ------ ------ ------- ------
Current Liabilities
Current portion of long-term
debt - - - 7 - 7
Current capital leases - - - - - -
Notes payable - - - - - -
Accounts payable 2 - 5 5 - 12
Accounts payable - related
parties 1 - - - (1) -
Accrued interest - - - 1 - 1
Accrued taxes 1 - 10 3 - 14
Other - - 6 1 - 7
------ ------ ------ ------ ------- ------
4 - 21 17 (1) 41
------ ------ ------ ------ ------- ------
Non-current Liabilities
Postretirement benefits - - - - - -
Deferred income taxes - - - - - -
Deferred investment tax credit - - - - - -
Other - - 11 - - 11
------ ------ ------ ------ ------- ------
- - 11 - - 11
------ ------ ------ ------ ------- ------
Total Stockholders' Equity
and Liabilities $ 287 $ 236 $ 268 $ 114 $ (508) $ 397
====== ====== ====== ====== ======= ======
</TABLE>
<PAGE> 100
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Jeguru- CMSG CMSG CMSG
CMSG padu CMSG CMSG Loy Yang Loy Yang Jorf
Inv. Co. O&M Co. Pinamucan Cebu Holdings Holdings Lasfar
I/II(8) Mauritius LDC LDC 1 Ltd. 2 Ltd. I LDC
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Independent power production $ - $ - $ - $ - $ - $ - $ -
Less accumulated depreciation,
depletion and amortization - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
Construction work-in-progress - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
------ ------ ------ ------ ------ ------ ------
Investments
Associated companies 477 - - - - - -
Other 90 1 - 16 203 207 (1)
------ ------ ------ ------ ------ ------ ------
567 1 - 16 203 207 (1)
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments - 1 3 3 2 2 -
Accounts receivable 348 - 6 (2) - 7 -
Materials and supplies - - - - - - -
Deferred income taxes - - - - - - -
Prepayments and other - - - - - - -
------ ------ ------ ------ ------ ------ ------
348 1 9 1 2 9 -
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Goodwill, net 14 - - - - - -
Postretirement benefits - - - - - - -
Other - 7 - - - - -
------ ------ ------ ------ ------ ------ ------
14 7 - - - - -
------ ------ ------ ------ ------ ------ ------
Total Assets $ 929 $ 9 $ 9 $ 17 $ 205 $ 216 $ (1)
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 101
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMSG Jorf Jorf National
Jorf Lasfar Jorf Lasfar CMSG Takoradi Power
Lasfar Handels- Lasfar Power Taweelah Int'l Supply
II Ltd. bolag I HB Energy HB Ltd. Company Co., Ltd.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Independent power production $ - $ - $ - $ - $ - $ - $ 339
Less accumulated depreciation,
depletion and amortization - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - 339
Construction work-in-progress - - - - - 66 -
------ ------ ------ ------ ------ ------ ------
- - - - - 66 339
------ ------ ------ ------ ------ ------ ------
Investments
Associated companies - - - - - - -
Other (1) 4 44 41 74 - -
------ ------ ------ ------ ------ ------ ------
(1) 4 44 41 74 - -
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments - - - - - - 4
Accounts receivable - - - - - 6 26
Materials and supplies - - - - - - 3
Deferred income taxes - - - - - - -
Prepayments and other - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - 6 33
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Goodwill, net - - - - - - -
Postretirement benefits - - - - - - -
Other - - - - - 1 12
------ ------ ------ ------ ------ ------ ------
- - - - - 1 12
------ ------ ------ ------ ------ ------ ------
Total Assets $ (1) $ 4 $ 44 $ 41 $ 74 $ 73 $ 384
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following page)
<PAGE> 102
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Inter- CMSG
company Investment
Monetize Elimina- Co. I/II
Limited tions Consol.
<S> <C> <C> <C>
Plant and Property (At Cost)
Independent power production $ - $ - $ 339
Less accumulated depreciation,
depletion and amortization - - -
------ ------ ------
- - 339
Construction work-in-progress - - 66
------ ------ ------
- - 405
------ ------ ------
Investments
Associated companies - (477) -
Other 33 - 711
------ ------ ------
33 (477) 711
------ ------ ------
Current Assets
Cash and temporary cash
investments - - 15
Accounts receivable - (324) 67
Materials and supplies - - 3
Deferred income taxes - - -
Prepayments and other - - -
------ ------ ------
- (324) 85
------ ------ ------
Non-current Assets
Goodwill, net - - 14
Postretirement benefits - - -
Other - - 20
------ ------ ------
- - 34
------ ------ ------
Total Assets $ 33 $ (801) $1,235
====== ====== ======
</TABLE>
(8) Represents CMSG Investment Company I and CMSG Investment Company II
consolidated.
<PAGE> 103
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Jeguru- CMSG CMSG CMSG
CMSG padu CMSG CMSG Loy Yang Loy Yang Jorf
Inv. Co. O&M Co. Pinamucan Cebu Holdings Holdings Lasfar
I/II(8) Mauritius LDC LDC 1 Ltd. 2 Ltd. I LDC
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 848 - - 16 141 143 -
Currency translation (91) - - (5) (39) (43) -
Revaluation capital - - - - - - -
Retained earnings 106 - (5) 5 (40) (37) (2)
------ ------ ------ ------ ------ ------ ------
863 - (5) 16 62 63 (2)
Preferred stock - - - - - - -
Long-term debt - - - - - - -
Non-current capital leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
863 - (5) 16 62 63 (2)
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - - - - - - -
Current capital leases - - - - - - -
Notes payable 41 9 - - 157 158 -
Accounts payable 10 - 14 1 2 10 1
Accounts payable - related
parties 12 - - - - - -
Accrued interest 4 - - - - - -
Accrued taxes (1) - - - 1 2 -
Other 1 - - - - - -
------ ------ ------ ------ ------ ------ ------
67 9 14 1 160 170 1
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits - - - - - - -
Deferred income taxes (1) - - - (17) (17) -
Deferred investment tax credit - - - - - - -
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
(1) - - - (17) (17) -
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $ 929 $ 9 $ 9 $ 17 $ 205 $ 216 $ (1)
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 104
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMSG Jorf Jorf National
Jorf Lasfar Jorf Lasfar CMSG Takoradi Power
Lasfar Handels- Lasfar Power Taweelah Int'l Supply
II Ltd. bolag I HB Energy HB Ltd. Company Co., Ltd.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital - 1 6 4 74 65 134
Currency translation - - - - - - -
Revaluation capital - - - - - - -
Retained earnings (2) 3 38 37 - - -
------ ------ ------ ------ ------ ------ ------
(2) 4 44 41 74 65 134
Preferred stock - - - - - - -
Long-term debt - - - - - - 194
Non-current capital leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
(2) 4 44 41 74 65 328
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - - - - - - 9
Current capital leases - - - - - - -
Notes payable - - - - - - -
Accounts payable 1 - - - - - 43
Accounts payable - related
parties - - - - - - -
Accrued interest - - - - - - 4
Accrued taxes - - - - - - -
Other - - - - - 2 -
------ ------ ------ ------ ------ ------ ------
1 - - - - 2 56
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits - - - - - - -
Deferred income taxes - - - - - - -
Deferred investment tax credit - - - - - - -
Other - - - - - 6 -
------ ------ ------ ------ ------ ------ ------
- - - - - 6 -
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $ (1) $ 4 $ 44 $ 41 $ 74 $ 73 $ 384
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 105
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Inter- CMSG
company Investment
Monetize Elimina- Co. I/II
Limited tions Consol.
<S> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ -
Other paid-in-capital 29 (615) 846
Currency translation (1) 89 (90)
Revaluation capital - - -
Retained earnings 5 - 108
------ ------ ------
33 (526) 864
Preferred stock - - -
Long-term debt - - 194
Non-current capital leases - - -
------ ------ ------
33 (526) 1,058
------ ------ ------
Current Liabilities
Current portion of long-term
debt - - 9
Current capital leases - - -
Notes payable - (324) 41
Accounts payable - 3 85
Accounts payable - related
parties - - 12
Accrued interest - - 8
Accrued taxes - - 2
Other - - 3
------ ------ ------
- (321) 160
------ ------ ------
Non-current Liabilities
Postretirement benefits - - -
Deferred income taxes - - (35)
Deferred investment tax credit - - -
Other - 46 52
------ ------ ------
- 46 17
------ ------ ------
Total Stockholders' Equity
and Liabilities $ 33 $ (801) $1,235
====== ====== ======
</TABLE>
(8) Represents CMSG Investment Company I and CMSG Investment Company II
consolidated.
<PAGE> 106
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS Gas CMS CMS CMS Gas CMS CMS
Transmission CMS Saginaw Saginaw Transmission Gas Jackson
& Storage Antrim Bay Bay Lat. del Sur Argentina Pipeline
Company(9) Company Company Company Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Natural gas transmission,
storage and processing $ - $ 53 $ - $ - $ - $ - $ 10
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
- 53 - - - - 10
Less accumulated depreciation,
depletion and amortization - 12 - - - - 2
------ ------ ------ ------ ------ ------ ------
- 41 - - - - 8
Construction work-in-progress 2 - - - - - -
------ ------ ------ ------ ------ ------ ------
2 41 - - - - 8
------ ------ ------ ------ ------ ------ ------
Investments
Associated companies 1,874 - - - - - -
Other 21 - 5 - 152 160 -
------ ------ ------ ------ ------ ------ ------
1,895 - 5 - 152 160 -
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments 1 - - - - - 1
Accounts receivable 144 5 - - 11 - -
Gas in underground storage 2 - - - - - -
Materials and supplies - 1 - - - - -
Deferred income taxes - - - - - - -
Prepayments and other 1 1 - - - - -
------ ------ ------ ------ ------ ------ ------
148 7 - - 11 - 1
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Goodwill, net - - 6 2 - 43 -
Postretirement benefits - - - - - - -
Other 51 - - - 1 - -
------ ------ ------ ------ ------ ------ ------
51 - 6 2 1 43 -
------ ------ ------ ------ ------ ------ ------
Total Assets $2,096 $ 48 $ 11 $ 2 $ 164 $ 203 $ 9
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 107
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS Panhandle CMS CMS Gas CMS Gold- CMS
Marysville Eastern Field Tristate Trans. of fields GT Grand Lacs
Gas Liquids Pipe Line Services Pipeline Australia Aust. Pty. Holding
Company Co. Consol. Co. Consol. LLC Trust Ltd. Company
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Natural gas transmission,
storage and processing $ 3 $1,529 $ 265 $ - $ 46 $ - $ 29
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
3 1,529 265 - 46 - 29
Less accumulated depreciation,
depletion and amortization - 56 16 - 6 - 6
------ ------ ------ ------ ------ ------ ------
3 1,473 249 - 40 - 23
Construction work-in-progress - 45 36 6 3 - -
------ ------ ------ ------ ------ ------ ------
3 1,518 285 6 43 - 23
------ ------ ------ ------ ------ ------ ------
Investments
Associated companies - - - - - - 2
Other 16 2 2 - - 71 -
------ ------ ------ ------ ------ ------ ------
16 2 2 - - 71 2
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments (2) - 1 - 19 4 -
Accounts receivable 9 206 55 - 2 2 2
Gas in underground storage - - - - - - -
Materials and supplies - 34 6 - - - -
Deferred income taxes - 8 - - - - -
Prepayments and other 1 8 - - - - -
------ ------ ------ ------ ------ ------ ------
8 256 62 - 21 6 2
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Goodwill, net - 754 - - - - -
Postretirement benefits - - - - - - -
Other 12 12 - - - - -
------ ------ ------ ------ ------ ------ ------
12 766 - - - - -
------ ------ ------ ------ ------ ------ ------
Total Assets $ 39 $2,542 $ 349 $ 6 $ 64 $ 77 $ 27
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 108
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Grand Inter- CMS Gas
Lacs company Tran. & Stor.
Limited Elimina- Company
Part. tions Consol.
<S> <C> <C> <C>
Plant and Property (At Cost)
Natural gas transmission,
storage and processing $ - $ - $1,935
Other - - -
------ ------- ------
- - 1,935
Less accumulated depreciation,
depletion and amortization - - 98
------ ------- ------
- - 1,837
Construction work-in-progress - - 92
------ ------- ------
- - 1,929
------ ------- ------
Investments
Associated companies - (1,876) -
Other - - 429
------ ------- ------
- (1,876) 429
------ ------- ------
Current Assets
Cash and temporary cash
investments 1 - 25
Accounts receivable 3 (14) 425
Gas in underground storage - - 2
Materials and supplies - - 41
Deferred income taxes - - 8
Prepayments and other - - 11
------ ------- ------
4 (14) 512
------ ------- ------
Non-current Assets
Goodwill, net - - 805
Postretirement benefits - - -
Other - - 76
------ ------- ------
- - 881
------ ------- ------
Total Assets $ 4 $(1,890) $3,751
====== ======= ======
</TABLE>
(9) Represents CMS Gas Transmission and Storage Company consolidated with CMS
Field Services, Inc. and Panhandle Eastern Pipe Line Company included on
the equity method of accounting.
<PAGE> 109
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS Gas CMS CMS CMS Gas CMS CMS
Transmission CMS Saginaw Saginaw Transmission Gas Jackson
& Storage Antrim Bay Bay Lat. del Sur Argentina Pipeline
Company(9) Company Company Company Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 2,111 - 10 3 94 168 2
Currency translation (5) - - - - - -
Retained earnings (36) - (1) (1) (2) 35 -
------ ------ ------ ------ ------ ------ ------
2,070 - 9 2 92 203 2
Preferred stock - - - - - - -
Long-term debt - 33 - - - - 4
Non-current capital leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
2,070 33 9 2 92 203 6
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - 6 - - - - -
Current capital leases - - - - - - -
Notes payable 15 - - - - - -
Accounts payable - 1 - - - - -
Accounts payable - related
parties 16 - - - 11 - -
Accrued interest - - - - - - -
Accrued taxes (4) 1 - - - - 1
Other 20 - - - - - -
------ ------ ------ ------ ------ ------ ------
47 8 - - 11 - 1
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits 2 - - - - - -
Deferred income taxes (26) 7 2 - - - 1
Deferred investment tax credit - - - - - - -
Other 3 - - - 61 - 1
------ ------ ------ ------ ------ ------ ------
(21) 7 2 - 61 - 2
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $2,096 $ 48 $ 11 $ 2 $ 164 $ 203 $ 9
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 110
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS Panhandle CMS CMS Gas CMS Gold- CMS
Marysville Eastern Field Tristate Trans. of fields GT Grand Lacs
Gas Liquids Pipe Line Services Pipeline Australia Aust. Pty. Holding
Company Co. Consol. Co. Consol. LLC Trust Ltd. Company
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ 1 $ - $ - $ - $ - $ -
Other paid-in-capital 31 1,127 179 6 67 66 28
Currency translation - - - - (8) 3 -
Retained earnings 2 - 32 - 1 7 (2)
------ ------ ------ ------ ------ ------ ------
33 1,128 211 6 60 76 26
Preferred stock - - - - - - -
Long-term debt - 1,094 49 - - - -
Non-current capital leases - - 3 - - - -
------ ------ ------ ------ ------ ------ ------
33 2,222 263 6 60 76 26
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - - - - - - -
Current capital leases - - 1 - - - -
Notes payable 2 - - - - - -
Accounts payable 1 38 56 - 1 - -
Accounts payable - related
parties 1 14 - - - - -
Accrued interest - 30 - - - - -
Accrued taxes 1 1 - - 3 1 -
Other 1 115 2 - - - -
------ ------ ------ ------ ------ ------ ------
6 198 59 - 4 1 -
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits - 17 - - - - -
Deferred income taxes - 36 12 - - - 1
Deferred investment tax credit - - - - - - -
Other - 69 15 - - - -
------ ------ ------ ------ ------ ------ ------
- 122 27 - - - 1
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $ 39 $2,542 $ 349 $ 6 $ 64 $ 77 $ 27
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 111
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Grand Inter- CMS Gas
Lacs company Tran. & Stor.
Limited Elimina- Company
Part. tions Consol.
<S> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ (1) $ -
Other paid-in-capital - (1,805) 2,087
Currency translation - 5 (5)
Retained earnings 4 (75) (36)
------ ------- ------
4 (1,876) 2,046
Preferred stock - - -
Long-term debt - - 1,180
Non-current capital leases - - 3
------ ------- ------
4 (1,876) 3,229
------ ------- ------
Current Liabilities
Current portion of long-term
debt - - 6
Current capital leases - - 1
Notes payable - - 17
Accounts payable - - 97
Accounts payable - related
parties - (14) 28
Accrued interest - - 30
Accrued taxes - - 4
Other - - 138
------ ------- ------
- (14) 321
------ ------- ------
Non-current Liabilities
Postretirement benefits - - 19
Deferred income taxes - - 33
Deferred investment tax credit - - -
Other - - 149
------ ------- ------
- - 201
------ ------- ------
Total Stockholders' Equity
and Liabilities $ 4 $(1,890) $3,751
====== ======= ======
</TABLE>
(9) Represents CMS Gas Transmission and Storage Company consolidated with CMS
Field Services, Inc and Panhandle Eastern Pipe Line Company included on the
equity method of accounting.
<PAGE> 112
PANHANDLE EASTERN PIPE LINE COMPANY
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Panhandle Inter- Panhandle
Eastern Pipe Trunkline Trunkline Pan Gas company Eastern
Line Co. Gas LNG Storage Elimina- Pipe Line
Consol. (10) Company Company Company tions Co. Cons.
<S> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Natural gas transmission,
storage and processing $ 684 $ 629 $ 28 $ 188 $ - $1,529
Other - - - - - -
------ ------ ------ ------ ------- ------
684 629 28 188 - 1,529
Less accumulated depreciation,
depletion and amortization 32 21 1 2 - 56
------ ------ ------ ------ ------- ------
652 608 27 186 - 1,473
Construction work-in-progress 29 16 - - - 45
------ ------ ------ ------ ------- ------
681 624 27 186 - 1,518
------ ------ ------ ------ ------- ------
Investments
Associated companies 739 - - - (739) -
Other 2 - - - - 2
------ ------ ------ ------ ------- ------
741 - - - (739) 2
------ ------ ------ ------ ------- ------
Current Assets
Cash and temporary cash
investments - - - - - -
Accounts receivable 273 121 7 69 (264) 206
Gas in underground storage - - - - - -
Materials and supplies 13 17 4 - - 34
Deferred income taxes 8 - - - - 8
Prepayments and other 1 6 - 1 - 8
------ ------ ------ ------ ------- ------
295 144 11 70 (264) 256
------ ------ ------ ------ ------- ------
Non-current Assets
Goodwill, net 754 - - - - 754
Postretirement benefits - - - - - -
Other 111 1 - - (100) 12
------ ------ ------ ------ ------- ------
865 1 - - (100) 766
------ ------ ------ ------ ------- ------
Total Assets $2,582 $ 769 $ 38 $ 256 $(1,103) $2,542
====== ====== ====== ====== ======= ======
</TABLE>
(10) Represents Panhandle Eastern Pipe Line Company, CMS Panhandle Eastern
Resources, Inc., CMS Panhandle Storage Company, Trunkline Field Services
Company and CMS Trunkline Pipeline Holdings, Inc. consolidated.
<PAGE> 113
PANHANDLE EASTERN PIPE LINE COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Panhandle Inter- Panhandle
Eastern Pipe Trunkline Trunkline Pan Gas company Eastern
Line Co. Gas LNG Storage Elimina- Pipe Line
Consol. (10) Company Company Company tions Co. Cons.
<S> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ 1 $ 27 $ - $ - $ (27) $ 1
Other paid-in-capital 1,128 468 29 230 (728) 1,127
Currency translation - - - - - -
Retained earnings - (34) 3 15 16 -
------ ------ ------ ------ ------- ------
1,129 461 32 245 (739) 1,128
Preferred stock - - - - - -
Long-term debt 1,094 100 - - (100) 1,094
Non-current capital leases - - - - - -
------ ------ ------ ------ ------- ------
2,223 561 32 245 (839) 2,222
------ ------ ------ ------ ------- ------
Current Liabilities
Current portion of long-term
debt - - - - - -
Current capital leases - - - - - -
Notes payable - 100 - - (100) -
Accounts payable 183 7 - - (152) 38
Accounts payable - related
parties 18 - - - (4) 14
Accrued interest 30 - - - - 30
Accrued taxes 2 (2) 2 7 (8) 1
Other 68 43 2 2 - 115
------ ------ ------ ------ ------- ------
301 148 4 9 (264) 198
------ ------ ------ ------ ------- ------
Non-current Liabilities
Postretirement benefits 17 - - - - 17
Deferred income taxes 18 14 2 2 - 36
Deferred investment tax credit - - - - - -
Other 23 46 - - - 69
------ ------ ------ ------ ------- ------
58 60 2 2 - 122
------ ------ ------ ------ ------- ------
Total Stockholders' Equity
and Liabilities $2,582 $ 769 $ 38 $ 256 $(1,103) $2,542
====== ====== ====== ====== ======= ======
</TABLE>
(10) Represents Panhandle Eastern Pipe Line Company, CMS Panhandle Eastern
Resources, Inc., CMS Panhandle Storage Company, Trunkline Field Services
Company and CMS Trunkline Pipeline Holdings, Inc. consolidated.
<PAGE> 114
CMS FIELD SERVICES, INC.
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CNG/Okla CNG/Taurus CNG CNG CNG CNG
Field Nat. Gas Holdings Gas Gas Laverne Nat. Gas
Services, Gathering Company, Gathering Processing Gas Proc., Gathering
Inc.(11) LLC Inc. LLC LLC LLC LLC
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Natural gas transmission,
storage and processing $ 5 $ 3 $ 48 $ - $ 50 $ 2 $ 72
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
5 3 48 - 50 2 72
Less accumulated depreciation,
depletion and amortization - - 3 - 3 - 4
------ ------ ------ ------ ------ ------ ------
5 3 45 - 47 2 68
Construction work-in-progress 2 - - 31 1 - -
------ ------ ------ ------ ------ ------ ------
7 3 45 31 48 2 68
------ ------ ------ ------ ------ ------ ------
Investments
Associated companies 262 - - - - - -
Other 2 - - - - - -
------ ------ ------ ------ ------ ------ ------
264 - - - - - -
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments (5) 1 1 1 (3) (2) 4
Accounts receivable 41 - 4 - - 1 2
Gas in underground storage - - - - - - -
Materials and supplies 4 - - 2 - - -
Deferred income taxes - - - - - - -
Prepayments and other - - - - - - -
------ ------ ------ ------ ------ ------ ------
40 1 5 3 (3) (1) 6
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Goodwill, net - - - - - - -
Postretirement benefits - - - - - - -
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
------ ------ ------ ------ ------ ------ ------
Total Assets $ 311 $ 4 $ 50 $ 34 $ 45 $ 1 $ 74
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 115
CMS FIELD SERVICES, INC.
Consolidating Balance Sheet - Assets
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Cherokee Heritage Roaring CNG Inter- CMS
Gas Bradshaw Gas Creek Hydro- company Field
Processing Energy Gathering Gas Svcs. carbons Elimina- Services,
LLC LLC LLC LLC LLC tions Inc. Cons.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Natural gas transmission,
storage and processing $ 45 $ 10 $ 22 $ 4 $ 4 $ - $ 265
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
45 10 22 4 4 - 265
Less accumulated depreciation,
depletion and amortization 3 1 2 - - - 16
------ ------ ------ ------ ------ ------ ------
42 9 20 4 4 - 249
Construction work-in-progress 1 - 1 - - - 36
------ ------ ------ ------ ------ ------ ------
43 9 21 4 4 - 285
------ ------ ------ ------ ------ ------ ------
Investments
Associated companies - - - - - (262) -
Other - - - - - - 2
------ ------ ------ ------ ------ ------ ------
- - - - - (262) 2
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and temporary cash
investments 2 1 1 - - - 1
Accounts receivable 4 - 2 1 - - 55
Gas in underground storage - - - - - - -
Materials and supplies - - - - - - 6
Deferred income taxes - - - - - - -
Prepayments and other - - - - - - -
------ ------ ------ ------ ------ ------ ------
6 1 3 1 - - 62
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Goodwill, net - - - - - - -
Postretirement benefits - - - - - - -
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
------ ------ ------ ------ ------ ------ ------
Total Assets $ 49 $ 10 $ 24 $ 5 $ 4 $ (262) $ 349
====== ====== ====== ====== ====== ====== ======
</TABLE>
(11) Represents CMS Field Services, Inc. and Continential Spearman Gas
Processing, LLC consolidated.
<PAGE> 116
CMS FIELD SERVICES, INC.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CNG/Okla. CNG/Taurus CNG CNG CNG CNG
Field Nat. Gas Holdings Gas Gas Laverne Nat. Gas
Services, Gathering Company, Gathering Processing Gas Proc. Gathering
Inc.(11) LLC Inc. LLC LLC LLC LLC
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 179 3 49 17 44 1 74
Currency translation - - - - - - -
Retained earnings 22 - - - (1) - (1)
------ ------ ------ ------ ------ ------ ------
201 3 49 17 43 1 73
Preferred stock - - - - - - -
Long-term debt 49 - - - - - -
Non-current capital leases 3 - - - - - -
------ ------ ------ ------ ------ ------ ------
253 3 49 17 43 1 73
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - - - - - - -
Current capital leases 1 - - - - - -
Notes payable - - - - - - -
Accounts payable 44 - 1 2 2 - 1
Accounts payable - related
parties - - - - - - -
Accrued interest - - - - - - -
Accrued taxes - - - - - - -
Other 1 1 - - - - -
------ ------ ------ ------ ------ ------ ------
46 1 1 2 2 - 1
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits - - - - - - -
Deferred income taxes 12 - - - - - -
Deferred investment tax credit - - - - - - -
Other - - - 15 - - -
------ ------ ------ ------ ------ ------ ------
12 - - 15 - - -
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $ 311 $ 4 $ 50 $ 34 $ 45 $ 1 $ 74
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 117
CMS FIELD SERVICES, INC.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Cherokee Heritage Roaring CNG Inter- CMS
Gas Bradshaw Gas Creek Hydro- company Field
Processing Energy Gathering Gas Svcs. carbons Elimina- Services
LLC LLC LLC LLC LLC tions Inc. Cons.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 34 10 21 5 4 (262) 179
Currency translation - - - - - - -
Retained earnings 11 - 1 - - - 32
------ ------ ------ ------ ------ ------ ------
45 10 22 5 4 (262) 211
Preferred stock - - - - - - -
Long-term debt - - - - - - 49
Non-current capital leases - - - - - - 3
------ ------ ------ ------ ------ ------ ------
45 10 22 5 4 (262) 263
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current portion of long-term
debt - - - - - - -
Current capital leases - - - - - - 1
Notes payable - - - - - - -
Accounts payable 4 - 2 - - - 56
Accounts payable - related
parties - - - - - - -
Accrued interest - - - - - - -
Accrued taxes - - - - - - -
Other - - - - - - 2
------ ------ ------ ------ ------ ------ ------
4 - 2 - - - 59
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postretirement benefits - - - - - - -
Deferred income taxes - - - - - - 12
Deferred investment tax credit - - - - - - -
Other - - - - - - 15
------ ------ ------ ------ ------ ------ ------
- - - - - - 27
------ ------ ------ ------ ------ ------ ------
Total Stockholders' Equity
and Liabilities $ 49 $ 10 $ 24 $ 5 $ 4 $ (262) $ 349
====== ====== ====== ====== ====== ====== ======
</TABLE>
(11) Represents CMS Field Services, Inc. and Continential Spearman Gas
Processing, LLC consolidated.
<PAGE> 118
CMS ENERGY CORPORATION
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Consumers CMS Inter-
Energy Enterprises company CMS Energy
CMS Energy Company Company Elimina- Corporation
Corp.(1) Consol. Consol. tions Consol.
<S> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ (234) $ 434 $ (315) $ (119) $ (234)
Consolidated Net Income (Loss) 319 340 131 (451) 339
Redemption of Class G Common Stock (69) - - - (69)
Less Dividends Paid
Common Stock - CMS Energy 154 - - - 154
Class G 9 - - 9
Preferred Stock - 6 7 (7) 6
Preferred Securities Distribution 35 21 - - 56
Associated Companies 7 262 116 (385) -
------ ------ ------ ------ ------
205 289 123 (392) 225
------ ------ ------ ------ ------
Balance at December 31, 1999 $ (189) $ 485 $ (307) $ (178) $ (189)
====== ====== ====== ====== ======
</TABLE>
(1) Represents CMS Energy Corporation with Consumers Energy Company and CMS
Enterprises Company included on the equity method of accounting.
<PAGE> 119
CONSUMERS ENERGY COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Michigan Huron CMS Inter- Consumers
Consumers Gas Hydro- Midland CMS company Power
Energy Storage carbons Holdings Midland Elimina- Company
Company(2) Company Inc. Company Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ 434 $ 26 $ 5 $ 22 $ 72 $ (125) $ 434
Net Income (Loss) 340 4 1 9 25 (39) 340
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock 6 - - - - - 6
Preferred Securities Distribution 21 - - - - - 21
Associated Companies 262 - - - - - 262
------ ------ ------ ------ ------ ------ ------
289 - - - - - 289
------ ------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ 485 $ 30 $ 6 $ 31 $ 97 $ (164) $ 485
====== ====== ====== ====== ====== ====== ======
</TABLE>
(2) Represents Consumers Energy Company, CMS Engineering Company, Consumers
EnergyGuard Services, Inc. and ES Services Company consolidated with
Michigan Gas Storage Company, CMS Midland Holdings Company, CMS Midland,
Inc. and Huron Hydrocarbons, Inc. included on the equity method of
accounting.
<PAGE> 120
CMS ENTERPRISES COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CMS CMS CMS CMS Gas
CMS Oil and Generation Resource Electric CMS Tran. & Stor.
Enterprises Gas Co. Company Dev. & Gas MS & T Company
Company(3) Consol. Consol. Co. Company Company Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ (308) $ 70 $ (179) $ 3 $ (15) $ 5 $ 8
Net Income (Loss) 129 18 86 - (18) 2 44
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock 7 - - - - - -
Associated Companies 116 - 24 - - - 88
------ ------ ------ ------ ------ ------ ------
123 - 24 - - - 88
------ ------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ (302) $ 88 $ (117) $ 3 $ (33) $ 7 $ (36)
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 121
CMS ENTERPRISES COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS Inter- CMS
CMS Lake CMS company Enterprises
Land Muskegon Capital Elimina- Company
Company Company Corp. tions Consol.
<S> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ - $ - $ 6 $ 95 $ (315)
Net Income (Loss) 3 1 4 (138) 131
Less Dividends Paid
Common Stock - - - - -
Preferred Stock - - - - 7
Associated Companies 4 - - (116) 116
------ ------ ------ ------ ------
4 - - (116) 123
------ ------ ------ ------ ------
Balance at December 31, 1999 $ (1) S 1 $ 10 $ 73 $ (307)
====== ====== ====== ====== ======
</TABLE>
(3) Represents CMS Enterprises Company, CMS Capital Financial Services, Inc.,
Monarch Management Company, CMS Comercializadora de Energia S.A., CMS
Energy Asia Private Limited, CMS Energy South America Company and CMS
Energy UK Limited consolidated with CMS Oil and Gas Company, CMS Generation
Company, CMS Land Company, CMS Lake Muskegon Company, CMS Capital
Corporation, CMS Marketing, Services and Trading Company, CMS Gas
Transmission and Storage Company, CMS Resource Development Company and CMS
Electric and Gas Company included on the equity method of accounting.
<PAGE> 122
CMS OIL AND GAS COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CMS Oil & CMS CMS CMS CMS
CMS Oil & Gas Gas Inter- Oil & Gas Oil & Gas NOMECO Oil & Gas
Oil and Gas Congo national Ecuador Pipeline Congo E.G.
Company(4) Ltd. Ltd. LDC Co. LDC LDC
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ 70 $ - $ (14) $ (30) $ 1 $ - $ 1
Net Income (Loss) 18 2 - 5 - - 1
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated Companies - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
------ ------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ 88 $ 2 $ (14) $ (25) $ 1 $ - $ 2
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 123
CMS OIL AND GAS COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS Explota- Terra CMS CMS
Oil & Gas NOMECO ciones CMS Energy, Oil & Gas CMS NOMECO O&G
E.G. China Oil Oil & Gas Ltd. Interna. Venezuela Alba
Ltd. Company Co. Consol. Co. Consol. LDC LDC
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ 3 $ (2) $ (29) $ 25 $ 12 $ (3) $ 1
Net Income (Loss) 11 - (1) 7 9 3 1
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated Companies - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
------ ------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ 14 $ (2) $ (30) $ 32 $ 21 $ - $ 2
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 124
CMS OIL AND GAS COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Inter- CMS
company Oil and Gas
Elimina- Company
tions Consol.
<S> <C> <C>
Balance at January 1, 1999 $ 35 $ 70
Net Income (Loss) (38) 18
Less Dividends Paid
Common Stock - -
Preferred Stock - -
Associated Companies - -
------ ------
- -
------ ------
Balance at December 31, 1999 $ (3) $ 88
====== ======
</TABLE>
(4) Represents CMS Oil and Gas Company consolidated with CMS Oil and Gas
International Company and Terra Energy, Ltd. included on the equity method
of accounting.
<PAGE> 125
CMS OIL AND GAS INTERNATIONAL COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CMS NOMECO CMS Oil & CMS Oil & CMS Inter- CMS
Oil & Gas International Gas Cote Gas Int'l Gas & Oil company Oil & Gas
International Congo Hld., d'Ivoire Tunisia, Cameroon, Elimina- Interna.
Co.(5) Inc. Ltd. Inc. Inc. tions Co. Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ 12 $ 12 $ (4) $ 1 $ - $ (9) $ 12
Net Income (Loss) 9 6 (2) 3 - (7) 9
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated Companies - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
------ ------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ 21 $ 18 $ (6) $ 4 $ - $ (16) $ 21
====== ====== ====== ====== ====== ====== ======
</TABLE>
(5) Represents CMS Oil and Gas International Company and CMS OIl and Gas
International Transportation Company consolidated.
<PAGE> 126
TERRA ENERGY, LTD.
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Energy Inter-
Terra Terra Acquis. company Terra
Energy, Pipeline Kristen Oper. Elimina- Energy,
Ltd. Co. Corp. Co. tions Ltd. Consol.
<S> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ 25 $ - $ 3 $ 1 $ (4) $ 25
Net Income 7 - - - - 7
Less Dividends Paid
Common Stock - - - - - -
Preferred Stock - - - - - -
Associated Companies - - - - - -
------ ------ ------ ------ ------ ------
- - - - - -
------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ 32 $ - $ 3 $ 1 $ (4) $ 32
====== ====== ====== ====== ====== ======
</TABLE>
<PAGE> 127
CMS GENERATION COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMSG CMSG CMSG Dearborn
CMS Honey Filer CMSG Grayling CMSG Generation
Generation Lake City Grayling Holdings Operating Operating
Co.(6) Company Inc. Company Company Company LLC
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ (179) $ 20 $ 11 $ 1 $ 3 $ - $ -
Net Income (Loss) 85 4 3 - 1 1 1
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated Companies 25 8 4 5 10 - -
------ ------ ------ ------ ------ ------ ------
25 8 4 5 10 - -
------ ------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ (119) $ 16 $ 10 $ (4) $ (6) $ 1 $ 1
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 128
CMS GENERATION COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Dearborn CMS CMSG CMSG HYDRA-CO
Indust. CMS CMSG Morocco Inv Co. Michigan Enter-
Generation Generation Recycling Operating I/II Power prises
LLC S.A. Company Co. SCA Consol. LLC Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ - $ (2) $ (1) $ 2 $ 69 $ - $ (114)
Net Income (Loss) 7 (3) - 4 39 - 13
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated Companies - - - - - - 16
------ ------ ------ ------ ------ ------ ------
- - - - - - 16
------ ------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ 7 $ (5) $ (1) $ 6 $ 108 $ - $ (117)
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 129
CMS GENERATION COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS Oxford Inter- CMS
CMSG CMSG Generation CMS company Generation
Holdings Altoona Inv. Co. CTM Development Elimina- Company
Company Company III Consol. L.P. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ (7) $ 3 $ 2 $ - $ (33) $ 46 $ (179)
Net Income (Loss) 1 1 3 5 1 (80) 86
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated Companies - - - - - (44) 24
------ ------ ------ ------ ------ ------ ------
- - - - - (44) 24
------ ------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ (6) $ 4 $ 5 $ 5 $ (32) $ 10 $ (117)
====== ====== ====== ====== ====== ====== ======
</TABLE>
(6) Represents CMS Generation Company, CMSG Filer City Operating Company, CMSG
Mon Valley Company, CMSG Genesee Company, CMSG Lyonsdale Company, CMSG
Chateaugay Company, Mid-Michigan Recycling L.L.C., CMSG Montreal Company
and CMS Jorf Lasfar III LDC consolidated with HYDRA-CO Enterprises, Inc.,
CMS Centrales Termicas S.A., CMSG Investment Company I and CMSG Investment
Company II included on the equity method of accounting.
<PAGE> 130
HYDRA-CO ENTERPRISES, INC.
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
HYDRA-CO CMS New Inter-
Enter- HCE Generation Bern Lakewood CMSG company
prises, Hudson, Oper. Co. Project Cogen. Stratton Elimina-
Inc.(7) Inc. II Mgt. Inc. L.P. Co. tions
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ (115) $ 4 $ (1) $ 1 $ - $ (15) $ 12
Net Income (Loss) 10 1 1 - 8 - (7)
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated Companies 16 1 - - - - (1)
------ ------ ------ ------ ------ ------ ------
16 1 - - - - (1)
------ ------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ (121) $ 4 $ - $ 1 $ 8 $ (15) $ 6
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 131
HYDRA-CO ENTERPRISES, INC.
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
HYDRO-CO
Enterprises
Consol.
<S> <C>
Balance at January 1, 1999 $ (114)
Net Income (Loss) 13
Less Dividends Paid
Common Stock -
Preferred Stock -
Associated Companies 16
------
16
------
Balance at December 31, 1999 $ (117)
======
</TABLE>
(7) Represents HYDRA-CO Enterprises, Inc., HCE Appomattox, Inc., HCE Jamaica
Development, Inc., HCE Lakewood, Inc., HCE Rockfort Diesel, Inc. and HCE
Imperial Valley, Inc. consolidated.
<PAGE> 132
CMS CENTRALES TERMICAS S.A.
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Centrales Inter-
CMS Cuyana Termicas CMS company
Operating S.A. de Mendoza Ensenada Elimina- CTM
S.A. Inversiones S.A. S.A. tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ - $ (4) $ 3 $ (2) $ 3 $ -
Net Income 5 4 4 1 (9) 5
Less Dividends Paid
Common Stock - - - - - -
Preferred Stock - - - - - -
Associated Companies - - - - - -
------ ------ ------ ------ ------ ------
- - - - - -
------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ 5 $ - $ 7 $ (1) $ (6) $ 5
====== ====== ====== ====== ====== ======
</TABLE>
<PAGE> 133
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMSG CMSG CMSG CMSG
CMSG CMSG CMSG Loy Yang Loy Yang Jorf Jorf
Inv. Co. Pinamucan Cebu Holdings Holdings Lasfar Lasfar
I/II(8) LDC LDC 1 Ltd. 2 Ltd. I LDC II LDC
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ 67 $ (2) $ 3 $ (23) $ (20) $ - $ -
Net Income (Loss) 39 (3) 2 (17) (17) (2) (2)
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated Companies - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
------ ------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ 106 $ (5) $ 5 $ (40) $ (37) $ (2) $ (2)
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 134
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Jorf Jorf Inter- CMSG
Lasfar Jorf Lasfar company Investment
Handels- Lasfar Power Monetize Elimina- Co. I/II
bolag I HB Energy HB Limited tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ 2 $ 19 $ 18 $ - $ 5 $ 69
Net Income (Loss) 1 19 19 5 (5) 39
Less Dividends Paid
Common Stock - - - - - -
Preferred Stock - - - - - -
Associated Companies - - - - - -
------ ------ ------ ------ ------ ------
- - - - - -
------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ 3 $ 38 $ 37 $ 5 $ - $ 108
====== ====== ====== ====== ====== ======
</TABLE>
(8) Represents CMSG Investment Company I, CMSG Investment Company II,
Jegurupadu O&M Company Mauritius, National Power Supply Co., Ltd. and CMSG
Taweelah Ltd. consolidated.
<PAGE> 135
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS Gas CMS CMS CMS CMS Grand
Transmission CMS Saginaw Gas Saginaw Jackson Lacs
& Storage Antrim Bay Argentina Bay Lat. Pipeline Limited
Company Company Company Company Company Company Part.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ 6 $ 1 $ (1) $ 25 $ (1) $ - $ -
Net Income (Loss) 46 3 - 10 - 1 4
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated Companies 88 4 - - - 1 -
------ ------ ------ ------ ------ ------ ------
88 4 - - - 1 -
------ ------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ (36) $ - $ (1) $ 35 $ (1) $ - $ 4
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on Following Page)
<PAGE> 136
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
CMS CMS CMS Gas Panhandle CMS CMS Gas CMS Gold-
Marysville Field Trans. of Eastern Grand Lacs Transmission fields GT
Gas Liquids Services, Australia Pipe Line Holding del Sur Aust. Pty.
Company Inc. Consol. Trust Co. Consol. Company Company Ltd.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ 1 S 9 $ (1) $ - $ (1) $ - $ -
Net Income (Loss) 1 23 2 41 3 (2) 7
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated Companies - - - 41 4 - -
------ ------ ------ ------ ------ ------ ------
- - - 41 4 - -
------ ------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ 2 $ 32 $ 1 $ - $ (2) $ (2) $ 7
====== ====== ====== ====== ====== ====== ======
</TABLE>
(Continued on following Page)
<PAGE> 137
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Inter- CMS Gas
Company Tran. & Stor.
Elimina- Company
tions Consol.
<S> <C> <C>
Balance at January 1, 1999 $ (30) $ 8
Net Income (Loss) (95) 44
Less Dividends Paid
Common Stock - -
Preferred Stock - -
Associated Companies (50) 88
------ ------
(50) 88
------ ------
Balance at December 31, 1999 $ (75) $ (36)
====== ======
</TABLE>
<PAGE> 138
PANHANDLE EASTERN PIPE LINE COMPANY
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
Panhandle Inter- Panhandle
Eastern Pipe Trunkline Trunkline Pan Gas company Eastern
Line Co. Gas LNG Storage Elimina- Pipe Line
Consol. (9) Company Company Company tions Co. Cons.
<S> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ - $ - $ - $ - $ - $ -
Net Income (Loss) 41 16 3 15 (34) 41
Less Dividends Paid
Common Stock - - - - - -
Preferred Stock - - - - - -
Associated Companies 41 50 - - (50) 41
------ ------ ------ ------ ------ ------
41 50 - - (50) 41
------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ - $ (34) $ 3 $ 15 $ 16 $ -
====== ====== ====== ====== ====== ======
</TABLE>
(9) Represents Panhandle Eastern Pipe Line Company, CMS Panhandle Eastern
Resources, Inc., CMS Panhandle Storage Company, Trunkline Field Services
Company and CMS Trunkline Pipeline Holdings, Inc. consolidated.
<PAGE> 139
CMS FIELD SERVICES, INC.
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
<TABLE>
<CAPTION>
CMS CNG CNG CNG Cherokee Heritage
Field Gas Laverne Nat. Gas Gas Gas
Services, Processing Gas Proc. Gathering Processing Gathering
Inc. (10) LLC LLC LLC LLC LLC
<S> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1999 $ 1 S (1) $ (1) $ - $ 10 $ -
Net Income (Loss) 21 - 1 (1) 1 1
Less Dividends Paid
Common Stock - - - - - -
Preferred Stock - - - - - -
Associated Companies - - - - - -
------ ------ ------ ------ ------ ------
- - - - - -
------ ------ ------ ------ ------ ------
Balance at December 31, 1999 $ 22 $ (1) $ - $ (1) $ 11 $ 1
====== ====== ====== ====== ====== ======
</TABLE>
(Continued on following Page)
<PAGE> 140
CMS FIELD SERVICES, INC.
Consolidating Statement of Retained Earnings
December 31, 1999
(In Millions)
(Continued from Previous Page)
<TABLE>
<CAPTION>
Inter- CMS
Company Field
Elimina- Services
tions Inc. Cons.
<S> <C> <C>
Balance at January 1, 1999 $ - $ 9
Net Income (Loss) - 23
Less Dividends Paid
Common Stock - -
Preferred Stock - -
Associated Companies - -
------ ------
- -
------ ------
Balance at December 31, 1999 $ - $ 32
====== ======
</TABLE>
(10)Represents CMS Field Services, Inc., Continential/Oklahoma Natural Gas
Gathering LLC, Continential/Taurus Holdings Company, LLC, Continential Gas
Gathering LLC, Continential Spearman Gas Processing, LLC, Bradshaw Energy
LLC,Roaring Creek Services LLC and Continential Hydrocarbons, LLC
consolidated.
<PAGE> 141
EXHIBIT B
Exhibit B - Financial Data Schedule
CMS Energy Corporation
Consolidated Year Ended December 31, 1999
(Millions of Dollars)
<TABLE>
<S> <C>
Total Assets $15,462
Total Operating Revenue $ 6,103
Net Income $ 277
</TABLE>
<PAGE> 142
1
EXHIBIT C
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
CENTRALES TERMICAS SAN NICOLAS, S.A.
(CTSN)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
* 0.1%
CMS Generation San Nicolas Company
*
*
* 0.1%
Inversora de San Nicolas, S.A.
*
*
* 88%
Centrales Termicas San Nicolas, S.A.
CMS Generation San Nicolas Company, owned 0.1% by CMS Generation Co., owns 0.1%
of Inversora de San Nicolas, which in turn owns 88% of Centrales Termicas San
Nicolas, S.A., the EWG.
<PAGE> 143
2
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
CMS ENSENADA S.A.
(Ensenada)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
* *
* *
* CMS Generation Company
* *
* *
* CMS Generation Holdings Company
* *
* 99% * 1%
CMS Operating S.A.
| *
Operator | * 99%
| *
--------------- CMS Ensenada S.A.
*
*
* 99%
*
Cuyana S.A. de Inversiones
*
* 92.6%
Centrales Termicas Mendoza, S.A.
CMS Operating S.A., which is 99% owned by CMS Enterprises Company, and 1 % by
CMS Generation Holdings Company, owns 99% of CMS Ensenada S.A., the EWG.
<PAGE> 144
3
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
CMS GENERATION CEBU LIMITED DURATION COMPANY
(Cebu)
and
CMS GENERATION CEBU OPERATING LIMITED DURATION COMPANY
(Cebu Operating)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
**CMS Generation Co.
* *
* *
* *
CMS Generation CMS Generation
Investment Co. I Investment Co. II
* 99% *99% * 1% * 1%
* * * *
* * * *
* * * *
* * * *
CMS Generation Cebu Limited CMS Generation Cebu
Duration Company * Operating Limited
* * Duration Company
* * |
* * | Operator
* 40% * 47.5% |
Toledo Holdings Corp. Toledo Power Company*
CMS Generation Investment Company I and CMS Generation Investment Company II,
each owned 100% by CMS Generation Co., own 99% and 1%, respectively, of CMS
Generation Cebu Limited Duration Company, the EWG.
CMS Generation Investment Company I and CMS Generation Investment Company II,
each owned 100% by CMS Generation Co., own 99% and 1%, respectively, of CMS
Generation Cebu Operating Limited Duration Company, the EWG.
<PAGE> 145
4
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
CMS GENERATION HORIZON ENERGY HOLDINGS LIMITED
(CMSG Horizon)
and
HORIZON ENERGY HOLDINGS LIMITED
(Horizon Energy)
CMS Energy Corporation
*
*
CMS Enterprises Company
*
*
CMS Generation Co.
*
*
CMS Generation Investment Co. I
* *
* *
* *
CMS Generation Loy Yang CMS Generation Loy Yang
Holdings 1 Ltd. Holdings 2 Ltd.
* *
* *
* *
Horizon Energy Holdings Ltd. CMS Generation Horizon
* * * Energy Holdings Ltd.
* * * * * *
* * * 24.63% * 25% * *
* * Loy Yang Power Partners (1) * *
* * * *
* * 24.63% * 25% *
* *** Loy Yang Power Projects Pty. Ltd.*** *
* *
* 24.63% * 25%
*********Loy Yang Power Management Pty. Ltd. **************
CMS Generation Investment Company I owns 100% of CMS Generation Loy Yang
Holdings 1 Ltd. which owns 100% of Horizon Energy Holdings Limited, the foreign
utility company.
CMS Generation Investment Company I owns 100% of CMS Generation Loy Yang
Holdings 2 Ltd. which owns 100% of CMS Generation Horizon Energy Holdings Ltd.,
the foreign utility company.
(1) Horizon Energy Partners, which has foreign utility company authorization,
has changed its name to Loy Yang Power Partners.
<PAGE> 146
5
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
CMS GENERATION MICHIGAN POWER LLC
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Michigan Power LLC
CMS Generation Co., a wholly owned subsidiary of CMS Enterprises, owns 100% of
CMS Generation Michigan Power LLC, the EWG.
<PAGE> 147
6
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
CMS GENERATION OPERATING COMPANY
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Operating Company
CMS Generation Co., a wholly owned subsidiary of CMS Enterprises, owns 100% of
CMS Generation Operating Company, the EWG.
<PAGE> 148
7
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
LAKEWOOD COGENERATION, LP
(Lakewood)
and
CMS GENERATION OPERATING COMPANY II, INC.
(CMSG Operating Company II)
CMS Energy Corporation
*
*
CMS Enterprises Company
*
*
CMS Generation Co.
*
*
**********HYDRA-CO Enterprises, Inc.****************
* * *
* * *
CMS Generation Operating * *
Company II, Inc. * *
(Operator) * *
| * *
| * *
| HCE-Lakewood, Inc. * *
| * * *
| * * *
| * * *
| CMS Generation * *
| Lakewood Company * *
| * * *
| * * *
| * 1% * 1% * 78%
-----------------Lakewood Cogeneration, LP**********
HYDRA-CO Enterprises, Inc., the wholly owned subsidiary of CMS Generation Co.,
owns 100% of HCE-Lakewood Inc., which in turn owns 1% of Lakewood Cogeneration,
LP, the EWG. CMS Generation Lakewood Company, owned 100% by HCE-Lakewood Inc.,
owns 1 % of Lakewood Cogeneration, LP, the EWG. Additionally, HYDRA-CO
Enterprises, Inc., directly owns 78% of Lakewood Cogeneration, LP, the EWG.
HYDRA-CO Enterprises, Inc. owns 100% of CMS Generation Operating Company II,
Inc., the EWG.
<PAGE> 149
8
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
CMS GENERATION PINAMUCAN LIMITED DURATION COMPANY
(Pinamucan)
and
CMS GENERATION PINAMUCAN OPERATING LIMITED DURATION COMPANY
(Pinamucan Operating)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
* *
* *
* *
CMS Generation Investment Co. I CMS Generation Investment Co. II
* 99% * 99% * 1% * 1%
* * * *
* * *
* * * *
CMS Generation Pinamucan CMS Generation Pinamucan Operating
Limited Duration Company Limited Duration Company
CMS Generation Investment Company I and CMS Generation Investment Company II,
each owned 100% by CMS Generation Co., own 99% and 1%, respectively, of CMS
Generation Pinamucan Limited Duration Company, the EWG.
CMS Generation Investment Company I and CMS Generation Investment Company II,
each owned 100% by CMS Generation Co., own 99% and 1%, respectively, of CMS
Generation Pinamucan Operating Limited Duration Company, the EWG.
<PAGE> 150
9
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
CMS MOROCCO OPERATING COMPANY SCA
(CMS Morocco)
and
CMS INTERNATIONAL OPERATING COMPANY
CMS Energy Corporation
*
*
CMS Enterprises Company
*
*
CMS Generation Co.
* *
* *
* *
* * CMS International Operating Company CMS Generation Investment Company I
* * * * *
* * * * *
* * * 50% * 50% *
* * CMS Generation Jorf Lasfar III *
* * Limited Duration Company * *
* * * * *
* * * * *
* * 99% * 1% * *
* Jorf Lasfar Operations * *
* Handelesbolag * *
* * * *
* * * *
* 0.1% * 99.7% * 0.1% * 0.1%
* * * * * * * * * * * * CMS Morocco Operating Company SCA* * * * * * *
CMS International Operating Company, the EWG, is 100% owned by CMS Generation
Co.
Jorf Lasfar Operations Handelesbolag, owned 99% by CMS International Operating
Company, and 1% by CMS Generation Jorf Lasfar III Limited Duration Company, owns
99.7% of CMS Morocco Operating Company SCA ("CMS Morocco"), the EWG. CMS
International Operating Company and CMS Generation Investment Company I, each
owned 100% by CMS Generation Co., each own 0.1% of CMS Morocco, the EWG. CMS
Generation Jorf Lasfar III Limited Duration Company, owned 50% by CMS
International Operating Company and 50% by CMS Investment Company I, owns 0.1%
of CMS Morocco, the EWG.
<PAGE> 151
10
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
CMS OPERATING S.A.
CMS Energy Corporation
*
*
***********CMS Enterprises Company
* *
* *
* *CMS Generation Co.*
* * *
* * *
* CMS Generation *
* Holdings Company *
* * * *
* 99% * 1% * 1% * 99%
CMS Operating S.A. CMS Centrales Termicas S.A.
Operating & | * | | * *
Maintenance- | * | | * *
Agreement | *99% | | * 99% * 1%
| * | | Cuyana S.A. de Inversiones
CMS Ensenada S.A. | | *
| |--Consulting *
| | Agreement * 92.6%
Consulting | | *
Agreement------ | |-----Centrales Termicas Mendoza, S.A.
(Jan-May 1997) | |
| |
Empresa Distribuidora de Electricidad de Entre Rios S.A. (EDEER)
CMS Enterprises Company. and CMS Generation Holdings Company own 99% and 1%,
respectively, of CMS Operating S.A., the EWG.
<PAGE> 152
11
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
COMPANIA FORCA E LUZ CATAGUAZES - LEOPOLDINA
(Cataguazes)
and
EMPRESA ENERGETICA DE SERGIPE S.A.
(Energipe)
CMS Energy Corporation
*
*
CMS Enterprises Company
* *
* *
* CMS Electric and Gas Company
* *
* 1% * 99%
Financial Joint Venture, L.L.C.
*
*
International Investments, Inc.****
* *
* *
* *
CMS Brazil Energia Ltda.***** CMS Distribuidora Ltda.
* * * *
* 0.41% * * *
Itacatu, SA * * *
* * * * *
* *50.1% * 49.9% * *
* * GIPAR, S.A. * *
* * * *
* * * *
* 9.18% * 51% * 21.56% *
*********Cataguazes********** *
* * 87.24% * 4.92%
* Energisa S.A.**********
* *
*12.18% * 84%
**********Energipe
Financial Joint Venture, L.L.C is owned 99% by CMS Electric and Gas Company, and
1% by CMS Enterprises Company. Financial Joint Venture, L.L.C. owns 100% of
International Investments, Inc., which owns 100% of CMS Brazil Energia Ltda. CMS
Brazil Energia Ltda owns 0.41% of Itacatu, S.A. which owns 9.18% of Cataguazes,
the foreign utility company. CMS Brazil Energia Ltda. and Itacatu own 49.9% and
50.1%, respectively, of GIPAR S.A., which owns 51% of Cataguazes, the foreign
utility company. CMS Brazil Energia Ltda owns 21.56% of Cataguazes, the foreign
utility company.
<PAGE> 153
12
(Organization Chart of Cataguazes and Energipe continued)
ENERGISA S.A., 87.2% owned by Cataguazes and 4.92% owned by CMS Distribuidora
Ltda., own 84% of Energipe, the foreign utility company. Cataguazes owns 12.18%
of Energipe, the foreign utility company.
<PAGE> 154
13
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
COMPANHIA PAULISTA DE ENERGIA ELECTRICA S.A.
(CPEE)
and
COMPANHIA SUL PAULISTA DE ENERGIA S.A.
(Paulista)
and
COPMANHIA JAGUARI DE ENERGIA S.A.
(Jaguari)
and
COMPANHIA LUZ E FORCA DE MOCOCA S.A.
(Mococa)
CMS Energy Corporation
*
*
*******CMS Enterprises Company**
* *
* *
CMS Electric and Gas Company *
* *
* 99% * 1%
Financial Joint Venture, L.L.C.*
*
*
International Investments, Inc.
*
*
CMS Brasil Energia Ltda.
*
* 95.83%
CPEE ************************
* * *
* 87.27% * *
Paulista * *
* * *
* 79.99% * 19.99% *
*****Jaguari *
* *
* 22.71% * 76.47%
****Mococa***
CPEE, the foreign utility company, is owned 95.83% by CMS Brasil Energia, Ltd, a
wholly owned subsidiary of International Investments, Inc.
Paulista, the foreign utility company, is owned 87.27% by CPEE.
<PAGE> 155
14
(Organization Chart of CPEE, Paulista, Jaguari and Mococa continued)
Jaguari, the foreign utility company, is owned 79.99% by CPEE and 19.99% by
Paulista.
Mococa, the foreign utility company, is owned 76.47% by CPEE and 22.71% by
Jaguari.
<PAGE> 156
15
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
DEARBORN GENERATION OPERATING L.L.C.
and
DEARBORN INDUSTRIAL GENERATION, L.L.C.
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
*********CMS Generation Co.*********
* *
* *
* *
Dearborn Generation Dearborn Industrial
Operating L.L.C. Energy, L.L.C.
*
*
Dearborn Industrial
Generation, L.L.C.
Dearborn Generation Operating L.L.C., the EWG, is 100% owned by CMS Generation
Co.
Dearborn Industrial Generation, the EWG, is 100% owned by Dearborn Industrial
Energy, L.L.C., which is a wholly owned subsidiary of CMS Generation Company.
<PAGE> 157
16
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system
EMPRESA DISTRIBUIDORA DE ELECTRICIDAD DE ENTRE RIOS S.A.
(EDEER)
CMS Energy Corporation
*
*
*
*
CMS Enterprises Company
*
*
*
*
------------CMS Electric and Gas Company
| *
| *
| Compania de Inversiones en Energia Electrica S.A.
| *
| * 53.5%
Consulting| Inversora en Distribucion de Entre Rios S.A.
Agreement | *
| *
| * 90%
| *
| *
|--------Empresa Distribuidora de Electricidad de Entre Rios S.A.
CMS Electric and Gas Company, which is 100% owned by CMS Enterprises
Company, owns 100% of Compania de Inversiones en Energia Electrica,
S.A.(CIEESA). CIEESA owns 53.5% of Inversora en Distribucion de Entre Rios
S.A., which owns 90% of Empresa Distribuidora de Electricidad de Entre Rios
S.A., the foreign utility company.
<PAGE> 158
17
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
GMR VASAVI POWER CORPORATION PRIVATE LIMITED
(GMR Vasavi)
CMS Energy Corporation
*
*
*
*
CMS Enterprises Company
*
*
*
*
CMS Generation Co.
*
*
*
*
CMS Generation Investment Co. I
*
*
*
*
Monetize Limited
*
* 49%
*
*
GMR Vasavi Power Corporation Private Limited
Monetize Limited, a wholly owned subsidiary of CMS Generation Investment Company
I, owns 49% of GMR Vasavi Power Corporation Private Limited, the EWG.
<PAGE> 159
18
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
GVK INDUSTRIES LIMITED
(GVK)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Investment Company III
*
*
*
Jegurupadu CMS Generation Company Ltd.
*
* 18.75%
*
GVK Industries Ltd.
Jegurupadu CMS Generation Company Ltd., a wholly owned subsidiary of CMS
Generation Investment Company III, owns 18.75% of GVK Industries Ltd., the EWG.
<PAGE> 160
19
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
HIDROELECTRICA EL CHOCON, S.A.
(Hidroelectrica)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
*CMS Generation Co.*
* *
* *
* *
* CMS Generation Holdings Company
* *
*99.9% * 0.1%
* *
CMS Generation, S.A.
* *
* *
* * 25%
* Hidroinvest, S.A.
* *
* *
* 2.48% * 59%
Hidroelectrica El Chocon, S.A.
CMS Generation, S.A., owned 99.9% by CMS Generation Co. and 0.1% by CMS
Generation Holdings Company, owns 25% of Hidroinvest which in turn owns 59% of
Hidroelectrica El Chocon, S.A., the EWG. CMS Generation, S.A. directly owns
2.48% of Hidroelectrica El Chocon, S.A., the EWG.
<PAGE> 161
20
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
JAMAICA PRIVATE POWER COMPANY LIMITED
(Jamaica Private Power)
and
PRIVATE POWER OPERATORS LIMITED
(Private Power Operators)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
HYDRA-CO ENTERPRISES, INC.
* *
* *
* *
CMS Generation Operating Company II, Inc. HCE-Rockfort Diesel, Inc.
* *
* * 43.93%
* *
HCO-Jamaica, Inc. Jamaica Private Power
* Company Limited
* 50%
*
Private Power Operators Limited
(Operator)
HCE-Rockfort Diesel, Inc., owned 100% by HYDRA-CO Enterprises, Inc., owns 43.93%
of Jamaica Private Power Company Limited, the EWG.
HCO-Jamaica, Inc., owned 100% by CMS Generation Operating Company II, Inc., owns
50% of Private Power Operators Limited, the EWG.
<PAGE> 162
21
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
JEGURUPADU OPERATING AND MAINTENANCE COMPANY
(Jegurupadu Operating)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
* *
* *
* *
CMS Generation Investment Co. I CMS Generation Investment Co. II
* 99% 99% * * 1% * 1%
* * * *
* * * *
* * * *
CMS Generation Jegurupadu I CMS Generation Jegurupadu II
Limited Duration Company Limited Duration Company
* *
50% * * 50%
Jegurupadu O&M Company Mauritius
*
* 60%
*
Jegurupadu Operating and Maintenance Company
| (Operator)
|
|
GVK Industries Ltd.
Jegurupadu O&M Company Mauritius, owned 50% by CMS Generation Jegurupadu I
Limited Duration Company and 50% by CMS Generation Jegurupadu II Limited
Duration Company, owns 60% of Jegurupadu Operating and Maintenance Company, the
EWG.
<PAGE> 163
22
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
JORF LASFAR ENERGY COMPANY SCA
(Jorf Lasfar)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.************************
* * *
* * CMS International
* * Operating Company-----
* * |
CMS Generation Investment Company I CMS Generation Investment Company II|
* 99% * 99% * 1% * 1% |
* * * * |
* * * |
* * |
* * * * |
CMS Generation Jorf Lasfar I Limited CMS Generation Jorf Lasfar II Limited
Duration Company * * * Duration Company |
* 50% * * * * 50% |
* * * * * |
* * *50% * * *50% * |
* * * * * |
* * * 50% * 50% * * |
Jorf Lasfar Handelsbolag Jorf Lasfar I HB Jorf Lasfar Power Energy HB |
*2% * 25% * 23% |
* * * Operator |
* * * |
****************Jorf Lasfar Energy Company SCA--------------------|
Jorf Lasfar Handelsbolag, Jorf Lasfar I HB and Jorf Lasfar Power Energy HB, each
owned 50% by CMS Generation Jorf Lasfar I Limited Duration Company and each
owned 50% by CMS Generation Jorf Lasfar II Limited Duration Company, owns 2%,
25% and 23%, respectively, of Jorf Lasfar Energy Company SCA, the EWG.
<PAGE> 164
23
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
NATIONAL POWER SUPPLY CO. LTD.
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Investment Co. I
*
*
* 66.24%
National Power Supply
CMS Generation Co. owns 100% of CMS Generation Investment Co. I, which owns
66.24% of National Power Supply Co. Ltd., the EWG.
<PAGE> 165
24
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
PANENERGY LAKE CHARLES GENERATION, INC.
CMS Energy Corporation
*
*
CMS Enterprises Company
*
*
CMS Gas Transmission and Storage Company
*
*
Panhandle Eastern Pipe Line Company
*
*
Trunkline Field Services Company
*
*
PanEnergy Lake Charles Generation, Inc.
CMS Gas Transmission and Storage Company owns 100% of Panhandle Eastern Pipe
Line Company, which owns 100 % of Trunkline Field Services Company, which owns
100% of PanEnergy Lake Charles Generation, Inc., the EWG.
<PAGE> 166
25
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
SISTEMA ELECTRICO NUEVA ESPARTA C.A.
(Seneca)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Electric and Gas Company
* *
* *
* CMS Venezuela
* 90% |
* | Consulting Agreement
ENELMAR, S.A. | dated Nov. 25, 1998
* |(Effective Jan. 1, 1999)
* 70% |
* |
SENECA--------|
CMS Electric and Gas, owns 90% of ENELMAR, S.A., which owns 70% of SENECA, the
foreign utility company.
<PAGE> 167
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
TAKORADI INTERNATIONAL COMPANY
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
*******CMS Generation Co.*****
* *
* *
* *
CMS International CMS Generation
Operating Company Investment Co. I
| *
| *
| *
| CMS Takoradi Investment Company
| *
|Operator *
| *
| CMS Takoradi Investment
| Company II
| *
| * 90%
| *
Takoradi International Company
CMS Generation Co. owns 100% of CMS Generation Investment Co. I, which owns 100%
of CMS Takoradi Investment Company, which owns 100% of CMS Takoradi Investment
Company II, which owns 90% of Takoradi International Company, the EWG.
|
|