UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form U-3A-2
File No. . . . . .69-348
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
AGL RESOURCES INC.
and
ATLANTA GAS LIGHT COMPANY
(Name of Company)
hereby file with the Securities and Exchange Commission, pursuant to Rule 2,
their respective statements claiming exemption as holding companies from the
provisions of the Public Utility Holding Company Act of 1935, and submit the
following information:
AGL RESOURCES INC.
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.
AGL Resources Inc. (AGL Resources) is a Georgia corporation, which was
incorporated on November 27, 1995. Its principal executive offices are located
at 817 West Peachtree Street, N.W., Atlanta, Georgia 30308.
AGL Resources is the holding company for:
(a) Atlanta Gas Light Company ("AGLC") and its wholly-owned subsidiary,
Chattanooga Gas Company ("Chattanooga"), which are natural gas local
distribution utilities;
(b) AGL Energy Services, Inc. ("AGLE"), a gas supply services company; and
(c) Several non-utility subsidiaries.
<PAGE>
AGLC is a Georgia corporation. It is a regulated utility, which conducts its
primary business, the distribution of natural gas, in Georgia including the
Atlanta, Athens, Augusta, Brunswick, Macon, Rome, Savannah, and Valdosta areas.
AGLC has one regulated natural gas utility subsidiary, Chattanooga, a Tennessee
corporation. Chattanooga operates a natural gas distribution system in the
Chattanooga and Cleveland areas of Tennessee.
AGLE, a Georgia corporation, is a nonregulated company that bought and sold the
natural gas which was supplied to AGLC's customers during the deregulation
transition period to full competition in Georgia. Currently, AGLE buys and sells
natural gas for Chattanooga's customers. For financial reporting purposes, AGLE
is considered a subsidiary of AGLC. Therefore, AGLE will be reported as a
subsidiary of the claimant, AGLC, for this reporting period. AGLE has one
subsidiary, Georgia Gas Company, a Georgia corporation, which has minor
interests in natural gas production activities.
AGL Resources currently owns or has an interest in the following non-utility
businesses, each of which are Georgia Corporations:
(a) SouthStar Energy Services LLC ("SouthStar"), a joint venture among a
subsidiary of AGL Resources Inc. and subsidiaries of Dynegy Holdings,
Inc. and Piedmont Natural Gas Company. SouthStar markets natural gas
and related services to residential and small commercial customers in
Georgia and to industrial customers in the Southeast. SouthStar began
marketing natural gas to customers in Georgia during the quarter
beginning October 1, 1998, under the trade name "Georgia Natural Gas
Services;"
(b) AGL Investments, Inc., (AGLI) which currently manages certain
non-utility businesses. Each of AGLI's subsidiaries are Georgia
corporations:
(1) AGL Propane, Inc., which engages in the sale of propane and
related products and services in Georgia, Alabama, Tennessee and
North Carolina;
(2) Trustees Investments, Inc., which owns Trustees Gardens, a
residential and retail development located in Savannah, Georgia;
and
(3) Utilipro, Inc. ("Utilipro"), in which AGL Resources has an 85%
ownership interest and which engages in the sale of integrated
customer care solutions and billing services to energy marketers
in the United States and Canada;
(c) AGL Peaking Services, Inc., which owns a 50% interest in Etowah LNG
Company LLC, a joint venture with Southern Natural Gas Company. Etowah
was formed for the purpose of constructing, owning, and operating a
liquefied natural gas peaking facility.
2
<PAGE>
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.
AGL Resources' properties consist primarily of the utility properties
of AGLC. AGLC's properties consist primarily of natural gas distribution systems
and related facilities and local offices serving 237 cities and surrounding
areas in the State of Georgia. As of December 31, 1999, AGLC had approximately
30,000 miles of mains, 5,950,000 Mcf. of liquefied natural gas ("LNG") storage
capacity in three LNG plants located in Georgia and 96,000 gallons of liquefied
petroleum gas storage capacity in one peak shaving plant located in Georgia.
AGLC's wholly-owned subsidiary, Chattanooga, operates a natural gas distribution
system and related facilities and local offices in 13 cities and surrounding
areas in the State of Tennessee. As of December 31, 1999, Chattanooga had 1,420
miles of mains and 1,080,000 Mcf. of LNG storage capacity in its one LNG plant
located in Tennessee.
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.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
None 87,938,100 Mcf.
$531.3 million
Gas sold and transported by
AGLC and Chattanooga.
92,772,529 Mcf.
$334.7 million
Gas delivered to end-use
customers by AGLC on behalf of
certificated marketers.
3
<PAGE>
(b) Number of kwh. of electric energy and Mcf. of natural or manufactured
gas distributed at retail outside the State in which each company is
organized.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
NA NA
(c) Number of kwh. of electric energy and Mcf. of natural or manufactured
gas sold at wholesale outside the State in which each such company is
organized, or at the State line.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
NA NA
(d) Number of kwh. of electric energy and Mcf. of natural or manufactured
gas purchased outside the State in which each such company is organized
or at the State line.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
Purchased at State Line Purchased at State Line
or at City Gate or at City Gate
Metering Stations Metering Stations
in Georgia or Tennessee in Georgia or Tennessee
NA 3,407,663 Mcf.
Purchased outside the Purchased outside the
State of Georgia States of Georgia and
Tennessee
NA 87,033,685 Mcf.
4
<PAGE>
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.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
None None
(b) Name of each system company that holds an interest in foreign utility
company; and description of the interest held.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
None None
(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.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
None None
(d) Capitalization and earnings of the EWG or foreign utility company during the
reporting period.
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
None None
5
<PAGE>
(e) Identify any service, sales or construction contract(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).
Claimant Subsidiary
AGL Resources Inc. Atlanta Gas Light Company
(including Chattanooga)
None None
6
<PAGE>
ATLANTA GAS LIGHT COMPANY
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.
Atlanta Gas Light Company ("AGLC") is a Georgia corporation organized in 1856
and has its principal executive office at 1219 Caroline Street, Atlanta, Georgia
30307.
AGLC is a regulated utility, which conducts its primary business, the
distribution of natural gas, in Georgia including the Atlanta, Athens, Augusta,
Brunswick, Macon, Rome, Savannah, and Valdosta areas.
AGLC has one wholly-owned subsidiary, Chattanooga Gas Company ("Chattanooga"), a
Tennessee corporation. Chattanooga operates a natural gas distribution system in
the Chattanooga and Cleveland areas of Tennessee.
AGLC also includes AGL Energy Services, Inc. ("AGLE") for financial reporting
purposes and for this filing even though AGLE is a wholly-owned subsidiary of
AGL Resources, not AGLC. AGLE, a Georgia corporation, is a nonregulated company
that bought and sold the natural gas which was supplied to AGLC's customers
during the deregulation transition period to full competition in Georgia.
Currently, AGLE buys and sells natural gas for Chattanooga's customers. AGLE has
one subsidiary, Georgia Gas Company, a Georgia corporation, which has minor
interests in natural gas production activities.
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) Description of properties of AGLC:
AGLC's properties consist primarily of natural gas distribution systems and
related facilities and local offices serving 237 cities and surrounding areas in
the State of Georgia. As of December 31, 1999, AGLC had approximately 30,000
miles of mains, 5,950,000 Mcf. of liquefied natural gas ("LNG") storage capacity
in three LNG plants located in Georgia and 96,000 gallons of liquefied petroleum
gas storage capacity in one peak shaving plant located in Georgia.
7
<PAGE>
(b) Description of properties of Chattanooga:
Chattanooga operates a natural gas distribution system and related facilities
and local offices serving 13 cities and surrounding areas in the State of
Tennessee. As of December 31, 1999, Chattanooga had 1,420 miles of mains and
1,080,000 Mcf. of LNG storage capacity in its one LNG plant located in
Tennessee.
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.
Claimant Subsidiary
AGLC Chattanooga
69,853,184 Mcf. 18,084,916 Mcf.
$459.0 million $72.3 million
Gas sold and transported
by AGLC.
92,772,529 Mcf.
$334.7 million
Gas delivered to end-use
customers by AGLC on
behalf of certificated
marketers.
(b) Number of kwh. of electric energy and Mcf. of natural or manufactured
gas distributed at retail outside the State in which each company is
organized.
Claimant Subsidiary
AGLC Chattanooga
NA NA
(c) Number of kwh. of electric energy and Mcf. of natural or manufactured
gas sold at wholesale outside the State in which each such company is
organized, or at the State line.
Claimant Subsidiary
AGLC Chattanooga
NA NA
8
<PAGE>
(d) Number of kwh. of electric energy and Mcf. of natural or manufactured
gas purchased outside the State in which each such company is organized
or at the State line.
Claimant Subsidiary
AGLC Chattanooga
Purchased at State Line Purchased at State Line
or at City Gate or at City Gate
Metering Stations Metering Stations
in Georgia in Tennessee
3,407,663 Mcf. None
Purchased outside the Purchased outside the
State of Georgia State of Tennessee
74,741,031 Mcf. 12,292,654 Mcf.
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.
Claimant Subsidiary
AGLC Chattanooga
None None
(b) Name of each system company that holds an interest in foreign utility
company; and description of the interest held.
Claimant Subsidiary
AGLC Chattanooga
None None
9
<PAGE>
(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.
Claimant Subsidiary
AGLC Chattanooga
None None
(d) Capitalization and earnings of the EWG or foreign utility company
during the reporting period.
Claimant Subsidiary
AGLC Chattanooga
None None
(e) Identify any service, sales or construction contract(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).
Claimant Subsidiary
AGLC Chattanooga
None None
10
<PAGE>
EXHIBIT A
A consolidating statement of income and surplus of the claimant and its
subsidiary companies for the last calendar year, together with a consolidating
balance sheet of claimant and its subsidiary companies as of the close of such
calendar year.
AGL RESOURCES INC.
The following financial statements of AGL Resources and its subsidiary
companies are attached hereto as Exhibit A1:
Condensed Consolidating Income Statements (Unaudited) for the Twelve
Months Ended December 31, 1999
Condensed Consolidating Statements of Earnings Reinvested (Unaudited)
for the Twelve Months Ended December 31, 1999
Condensed Consolidating Balance Sheets (Unaudited) as of December 31,
1999
The following financial statements of AGL Resources' subsidiary, AGL
Investments, Inc. are attached hereto as Exhibit A1-1:
Condensed Consolidating Income Statements (Unaudited) for the Twelve
Months Ended December 31, 1999
Condensed Consolidating Statements of Earnings Reinvested (Unaudited)
for the Twelve Months Ended December 31, 1999
Condensed Consolidating Balance Sheets (Unaudited) as of December 31,
1999
ATLANTA GAS LIGHT COMPANY
The following financial statements of AGLC and its subsidiary companies
are attached hereto as Exhibit A2:
Condensed Consolidating Income Statements (Unaudited) for the Twelve
Months Ended December 31, 1999
Condensed Consolidating Statements of Earnings Reinvested (Unaudited)
for the Twelve Months Ended December 31, 1999
Condensed Consolidating Balance Sheets (Unaudited) as of December 31,
1999
11
<PAGE>
EXHIBIT B. Financial Data Schedule
If, at the time a report on this form is filed, the registrant is
required to submit this report and any amendments thereto electronically via
EDGAR, the registrant shall furnish a Financial Data Schedule. The Schedule
shall set forth the financial and other data specified below that are applicable
to the registrant on a consolidated basis.
Item No. Caption Heading
1. Total Assets
2. Total Operating Revenues
3. Net Income
12
<PAGE>
EXHIBIT C
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding-company system.
None
<PAGE>
The above-named claimants have caused this statement to be duly
executed on their behalf by their authorized officer on this 1st day of March,
2000.
AGL RESOURCES INC.
and
ATLANTA GAS LIGHT COMPANY
(Name of Claimant)
By: /s/ Donald P. Weinstein
Donald P. Weinstein
Senior Vice President and
Chief Financial Officer
CORPORATE SEAL
Attest: /s/ Melanie M. Platt
Melanie M. Platt
Corporate Secretary
Name, title, and address of officer to whom notices and correspondence
concerning this statement should be addressed:
Donald P. Weinstein
Senior Vice President and Chief Financial Officer
P.O. Box 4569, Atlanta, Georgia 30302
14
<PAGE>
<PAGE>
Exhibit A1
<TABLE>
<CAPTION>
AGL RESOURCES INC.
Condensed Consolidating Income Statements (Unaudited)
For the Twelve Months Ended December 31, 1999
(In Millions)
Consolidated
AGL Georgia AGL Consolidated Atlanta Reclassi- Consolidated
Resources Natural Peaking AGL AGL Gas Light fications AGL
Holding Gas Services, Capital Investments, Utility and Resources
Company Services Inc. Trust Inc. Operations Eliminations Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Operating Revenues ............. -- $ 0.6 -- -- $ 39.3 $ 893.3 -- $ 933.2
Cost of Sales .................. -- 0.6 -- -- 14.0 403.3 -- 417.9
- ------------------------------------------------------------------------------------------------------------------------------------
Operating Margin ............ -- -- -- -- 25.3 490.0 -- 515.3
- ------------------------------------------------------------------------------------------------------------------------------------
Other Operating Expenses
Operation and maintenance
expenses ................. (10.8) 0.2 -- -- 25.7 256.1 -- 271.2
Depreciation and amortization 8.8 (0.3) -- -- 3.8 67.1 -- 79.4
Taxes other than income ..... 1.9 -- -- -- 1.2 21.2 -- 24.3
- ------------------------------------------------------------------------------------------------------------------------------------
Total other operating
expenses .............. (0.1) (0.1) -- -- 30.7 344.4 -- 374.9
- ------------------------------------------------------------------------------------------------------------------------------------
Operating Income ............... 0.1 0.1 -- -- (5.4) 145.6 -- 140.4
- ------------------------------------------------------------------------------------------------------------------------------------
Other Income (Loss) ............ (0.2) (7.7) -- 6.3 2.4 3.7 (7.4) (2.9)
- ------------------------------------------------------------------------------------------------------------------------------------
Gain on Sale of Joint Venture
Interests ................... -- -- -- -- 35.6 -- -- 35.6
- ------------------------------------------------------------------------------------------------------------------------------------
Income Before Interest and
Income Taxes ................ (0.1) (7.6) -- 6.3 32.6 149.3 (7.4) 173.1
- ------------------------------------------------------------------------------------------------------------------------------------
Interest Expense and Preferred
Stock Dividends
Interest expense ............ 8.7 1.4 0.1 -- 0.2 46.9 (6.4) 50.9
Dividends on preferred stock
of subsidiary ............ -- -- -- 6.3 -- -- (0.2) 6.1
- ------------------------------------------------------------------------------------------------------------------------------------
Total interest expense and
preferred stock dividends 8.7 1.4 0.1 6.3 0.2 46.9 (6.6) 57.0
- ------------------------------------------------------------------------------------------------------------------------------------
Income Before Income Taxes ..... (8.8) (9.0) (0.1) -- 32.4 102.4 (0.8) 116.1
- ------------------------------------------------------------------------------------------------------------------------------------
Income Taxes ................... (3.4) (3.5) -- -- 12.0 35.4 -- 40.5
- ------------------------------------------------------------------------------------------------------------------------------------
Net Income ..................... $ (5.4) $ (5.5) $ (0.1) -- $ 20.4 $ 67.0 $ (0.8) $ 75.6
====================================================================================================================================
</TABLE>
Page 1 of 4
<PAGE>
Exhibit A1
<TABLE>
<CAPTION>
AGL RESOURCES INC.
Condensed Consolidating Statements of Earnings Reinvested (Unaudited)
For the Twelve Months Ended December 31, 1999
(In Millions)
Consolidated
AGL Georgia AGL Consolidated Atlanta Reclassi- Consolidated
Resources Natural Peaking AGL AGL Gas Light fications AGL
Holding Gas Services, Capital Investments, Utility and Resources
Company Services Inc. Trust Inc. Operations Eliminations Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Earnings Reinvested at
Beginning of Period .... $ (75.3) $ (4.2) $ 0.3 -- $ (1.5) $ 251.0 $ 4.6 $ 174.9
Net Income ................ (5.4) (5.5) (0.1) -- 20.4 67.0 (0.8) 75.6
Dividends on Common Stock . (61.9) -- -- -- -- -- -- (61.9)
Adjustments - Reverse
Subsidiary Income ...... 4.0 -- -- -- -- -- (4.0) --
Adjustments - Rounding .... -- -- -- -- (0.1) -- 0.1 --
Loss on Issuance
of Treasury Stock ...... (0.1) -- -- -- -- -- -- (0.1)
- ------------------------------------------------------------------------------------------------------------------------------------
Earnings Reinvested at
End of Period .......... $ (138.7) $ (9.7) $ 0.2 -- $ 18.8 $ 318.0 $ (0.1) $ 188.5
====================================================================================================================================
</TABLE>
Page 2 of 4
<PAGE>
Exhibit A1
<TABLE>
<CAPTION>
AGL RESOURCES INC.
Condensed Consolidating Balance Sheets (Unaudited)
as of December 31, 1999
(In Millions)
Consolidated
AGL Georgia AGL Consolidated Atlanta Reclassi- Consolidated
Resources Natural Peaking AGL AGL Gas Light fications AGL
Holding Gas Services, Capital Investments, Utility and Resources
Company Services Inc. Trust Inc. Operations Eliminations Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Current Assets
Cash ........................ -- $ (0.1) -- -- $ 4.5 $ (0.2) -- $ 4.2
Receivables ................. (0.3) 0.3 0.1 1.0 8.9 42.7 (1.3) 51.4
Intercompany receivables .... 363.2 (46.4) -- -- 69.0 613.7 (999.5) --
Inventories:
Natural gas stored
underground ............. -- -- -- -- -- 20.6 -- 20.6
LNG stored ................ -- -- -- -- -- 3.0 -- 3.0
Other ..................... -- 1.3 -- -- 2.2 7.9 -- 11.4
Deferred purchased gas
adjustments ............... -- -- -- -- -- 1.1 -- 1.1
Other current assets ........ 1.8 -- -- -- 0.5 1.6 -- 3.9
- ------------------------------------------------------------------------------------------------------------------------------------
Total current assets .... 364.7 (44.9) 0.1 1.0 85.1 690.4 (1,000.8) 95.6
- ------------------------------------------------------------------------------------------------------------------------------------
Investment and Equity in
Associated Companies ........ 406.5 -- -- 77.3 -- -- (483.8) --
- ------------------------------------------------------------------------------------------------------------------------------------
Property, Plant and Equipment
Utility plant ............... -- -- -- -- -- 2,300.4 -- 2,300.4
Less Accumulated Depreciation (0.2) -- -- -- -- 772.6 -- 772.4
- ------------------------------------------------------------------------------------------------------------------------------------
Utility plant - net ....... 0.2 -- -- -- -- 1,527.8 -- 1,528.0
- ------------------------------------------------------------------------------------------------------------------------------------
Non-utility property ........ 78.5 -- -- -- 36.2 3.4 -- 118.1
Less Accumulated Depreciation 26.3 -- -- -- 9.8 1.8 -- 37.9
- ------------------------------------------------------------------------------------------------------------------------------------
Non-utility property - net 52.2 -- -- -- 26.4 1.6 -- 80.2
- ------------------------------------------------------------------------------------------------------------------------------------
Total property, plant and
equipment ............. 52.4 -- -- -- 26.4 1,529.4 -- 1,608.2
- ------------------------------------------------------------------------------------------------------------------------------------
Deferred Debits and Other
Assets
Unrecovered environmental
response costs ............ -- -- -- -- -- 146.4 -- 146.4
Investments in joint ventures 2.7 38.5 2.9 -- -- 0.4 (2.7) 41.8
Unrecovered postretirement
benefits costs ............ -- -- -- -- -- 8.3 -- 8.3
Other ....................... 1.8 (0.1) -- -- 6.4 22.0 -- 30.1
- ------------------------------------------------------------------------------------------------------------------------------------
Total deferred debits and
other assets ............ 4.5 38.4 2.9 -- 6.4 177.1 (2.7) 226.6
- ------------------------------------------------------------------------------------------------------------------------------------
Total Assets .................. $ 828.1 $ (6.5) $ 3.0 $ 78.3 $ 117.9 $ 2,396.9 $ (1,487.3) $ 1,930.4
====================================================================================================================================
</TABLE>
Page 3 of 4
<PAGE>
Exhibit A1
<TABLE>
<CAPTION>
AGL RESOURCES INC.
Condensed Consolidating Balance Sheets (Unaudited)
as of December 31, 1999
(In Millions)
Consolidated
AGL Georgia AGL Consolidated Atlanta Reclassi- Consolidated
Resources Natural Peaking AGL AGL Gas Light fications AGL
Holding Gas Services, Capital Investments, Utility and Resources
Company Services Inc. Trust Inc. Operations Eliminations Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C>
LIABILITIES
Current Liabilities
Accounts payable - trade .... $ 2.5 -- -- -- $ 5.3 $ 26.8 -- $ 34.6
Intercompany payables ....... 339.3 3.5 0.2 1.0 43.5 612.0 (999.5) --
Short-term debt ............. 59.0 -- -- -- -- -- -- 59.0
Current portion of long-term
debt ...................... -- -- -- -- -- 10.0 -- 10.0
Gas cost credits ............ -- -- -- -- -- 2.0 -- 2.0
Customer deposits ........... -- -- -- -- -- 2.2 -- 2.2
Interest .................... 1.1 -- -- -- -- 12.5 (1.0) 12.6
Taxes ....................... 2.1 4.3 (0.2) -- 4.4 18.1 -- 28.7
Wages and salaries .......... 6.6 -- -- -- (0.3) 6.4 -- 12.7
Other accrued liabilities ... -- -- -- 0.7 -- (0.2) 0.5
Deferred purchased gas
adjustments ............... -- -- -- -- -- -- -- --
Other current liabilities ... 2.4 -- -- -- 0.7 11.9 -- 15.0
- ------------------------------------------------------------------------------------------------------------------------------------
Total current liabilities . 413.0 7.8 -- 1.7 53.6 701.9 (1,000.7) 177.3
- ------------------------------------------------------------------------------------------------------------------------------------
Accumulated deferred income tax 1.6 (4.7) 0.1 -- 4.5 214.6 -- 216.1
- ------------------------------------------------------------------------------------------------------------------------------------
Long-Term Liabilities
Accrued environmental
response costs ............ -- -- -- -- -- 102.4 -- 102.4
Accrued postretirement
benefits costs ............ 0.2 -- -- -- -- 32.7 -- 32.9
Accrued pension costs ....... 1.8 -- -- -- -- 4.2 -- 6.0
- ------------------------------------------------------------------------------------------------------------------------------------
Total long-term liabilities 2.0 -- -- -- -- 139.3 -- 141.3
- ------------------------------------------------------------------------------------------------------------------------------------
Minority Interest ............. -- -- -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Deferred credits
Unamortized investment tax
credit .................... -- -- -- -- -- 24.1 -- 24.1
Regulatory tax liability .... -- -- -- -- -- 16.2 -- 16.2
Other ....................... 1.6 -- -- -- 1.0 6.9 -- 9.5
- ------------------------------------------------------------------------------------------------------------------------------------
Total deferred credits .... 1.6 -- -- -- 1.0 47.2 -- 49.8
- ------------------------------------------------------------------------------------------------------------------------------------
Equity Investment from Parent . -- 0.1 2.7 2.3 40.5 363.6 (409.2) --
- ------------------------------------------------------------------------------------------------------------------------------------
Capitalization
Long-term debt .............. 77.3 -- -- -- -- 610.0 (77.3) 610.0
Subsidiary obligated
mandatorily redeemable
preferred securities ...... -- -- -- 74.3 -- -- -- 74.3
Common stockholders' equity
Common Stock .............. 289.1 -- -- -- -- -- -- 289.1
Premium on Capital Stock .. 198.2 -- -- -- (0.5) 2.3 -- 200.0
Earnings Reinvested ....... (138.7) (9.7) 0.2 -- 18.8 318.0 (0.1) 188.5
Treasury Stock ............ (16.0) -- -- -- -- -- (16.0)
- ------------------------------------------------------------------------------------------------------------------------------------
Total capitalization .... 409.9 (9.7) 0.2 74.3 18.3 930.3 (77.4) 1,345.9
- ------------------------------------------------------------------------------------------------------------------------------------
Total Liabilities ............. $ 828.1 $ (6.5) $ 3.0 $ 78.3 $ 117.9 $ 2,396.9 $ (1,487.3) $ 1,930.4
====================================================================================================================================
</TABLE>
Page 4 of 4
<PAGE>
Exhibit A1-1
<TABLE>
<CAPTION>
AGL INVESTMENTS, INC.
Condensed Consolidating Income Statements (Unaudited)
For the Twelve Months Ended December 31, 1999
(In Millions)
Consoli-
AGL Reclassi- dated
Trustees Energy AGL AGL AGL fications AGL
AGL AGL Utili- Invest- Wise Consumer Power Gas Georgia and Invest-
Investments Propane, pro, ments, Services, Services Services Marketing Energy Elimi- ments,
Corporate Inc. Inc. Inc. Inc. Inc. Inc. Inc. Company nations Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Operating Revenues ............ -- $26.1 $13.1 $(0.1) -- $0.2 -- -- -- -- $39.3
Cost of Sales ................. -- 14.0 -- -- -- -- -- -- -- -- 14.0
- ------------------------------------------------------------------------------------------------------------------------------------
Operating Margin ............ -- 12.1 13.1 (0.1) -- 0.2 -- -- -- -- 25.3
- ------------------------------------------------------------------------------------------------------------------------------------
Other Operating Expenses
Operation and maintenance
expenses .................. 1.3 7.1 16.8 0.3 -- 0.2 (0.7) (2.6) -- 3.3 25.7
Depreciation and amortization (0.3) 2.2 0.9 -- -- -- (0.1) 0.3 -- 0.8 3.8
Taxes other than income ..... -- 0.5 0.6 -- -- -- -- 0.1 -- -- 1.2
- ------------------------------------------------------------------------------------------------------------------------------------
Total other operating
expenses .................. 1.0 9.8 18.3 0.3 -- 0.2 (0.8) (2.2) -- 4.1 30.7
- ------------------------------------------------------------------------------------------------------------------------------------
Operating Income .............. (1.0) 2.3 (5.2) (0.4) -- -- 0.8 2.2 -- (4.1) (5.4)
- ------------------------------------------------------------------------------------------------------------------------------------
Other Income (Loss) ........... 6.2 0.3 0.6 0.6 -- -- 2.1 (5.0) -- (2.4) 2.4
- ------------------------------------------------------------------------------------------------------------------------------------
Gain on Sale of Joint
Venture Interests ............. -- -- -- -- -- -- 21.3 14.3 -- -- 35.6
- ------------------------------------------------------------------------------------------------------------------------------------
Income Before Interest and
Income Taxes .................. 5.2 2.6 (4.6) 0.2 -- -- 24.2 11.5 -- (6.5) 32.6
- ------------------------------------------------------------------------------------------------------------------------------------
Interest Expense and Preferred
Stock Dividends
Interest expense ............ 0.1 -- 0.2 -- -- -- -- -- -- (0.1) 0.2
Dividends on preferred stock
of subsidiary -- -- -- -- -- -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Total interest expense and
preferred stock dividends 0.1 -- 0.2 -- -- -- -- -- -- (0.1) 0.2
- ------------------------------------------------------------------------------------------------------------------------------------
Income Before Income Taxes .... 5.1 2.6 (4.8) 0.2 -- -- 24.2 11.5 -- (6.4) 32.4
- ------------------------------------------------------------------------------------------------------------------------------------
Income Taxes .................. 2.1 1.0 (2.0) 0.1 -- -- 9.0 4.4 -- (2.6) 12.0
- ------------------------------------------------------------------------------------------------------------------------------------
Net Income .................... $3.0 $1.6 $(2.8) $0.1 -- -- $15.2 $7.1 -- $(3.8) $20.4
====================================================================================================================================
</TABLE>
Page 1 of 4
<PAGE>
Exhibit A1-1
<TABLE>
<CAPTION>
AGL INVESTMENTS, INC.
Condensed Consolidating Statements of Earnings Reinvested (Unaudited)
For the Twelve Months Ended December 31, 1999
(In Millions)
Consoli-
AGL Reclassi- dated
Trustees Energy AGL AGL AGL fications AGL
AGL AGL Utili- Invest- Wise Consumer Power Gas Georgia and Invest-
Investments Propane, pro, ments, Services, Services Services Marketing Energy Elimi- ments,
Corporate Inc. Inc. Inc. Inc. Inc. Inc. Inc. Company nations Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Earnings Reinvested
at Beginning of Period $(1.7) $3.2 $(0.8) $0.2 $(0.5) $0.1 $(0.7) $1.8 $(0.6) $(2.5) $(1.5)
Net Income .............. 3.0 1.6 (2.8) 0.1 -- -- 15.2 7.1 -- (3.8) 20.4
Dividends on Common Stock -- -- -- -- -- -- -- -- -- -- --
Adjustments - reverse
subsidiary income ..... (7.1) 0.7 -- -- -- -- -- -- -- 6.4 --
Adjustments - rounding .. -- -- -- -- -- -- -- -- -- (0.1) (0.1)
Loss on issuance of
treasury Stock ........ -- -- -- -- -- -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Earnings Reinvested
at End of Period ...... $(5.8) $5.5 $(3.6) $0.3 $(0.5) $0.1 $14.5 $8.9 $(0.6) $(0.0) $18.8
====================================================================================================================================
</TABLE>
Page 2 of 4
<PAGE>
Exhibit A1-1
<TABLE>
<CAPTION>
AGL INVESTMENTS, INC.
Condensed Consolidating Balance Sheets (Unaudited)
For the Twelve Months Ended December 31, 1999
(In Millions)
Consoli-
AGL Reclassi- dated
Trustees Energy AGL AGL AGL fications AGL
AGL AGL Utili- Invest- Wise Consumer Power Gas Georgia and Invest-
Investments Propane, pro, ments, Services, Services Services Marketing Energy Elimi- ments,
Corporate Inc. Inc. Inc. Inc. Inc. Inc. Inc. Company nations Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Current Assets
Cash ........................ $1.7 $2.5 $0.2 -- $0.1 -- -- -- -- -- $4.5
Receivables ................. 0.1 2.9 5.8 0.1 -- 0.1 -- -- -- (0.1) 8.9
Intercompany receivables .... 69.3 0.1 -- 3.5 0.3 5.9 27.4 41.2 0.3 (79.0) 69.0
Inventories:
Natural gas stored
underground ............. -- -- -- -- -- -- -- -- -- -- --
LNG stored ................ -- -- -- -- -- -- -- -- -- -- --
Other ..................... -- 2.2 -- -- -- -- -- -- -- -- 2.2
Deferred purchased gas
adjustments ............... -- -- -- -- -- -- -- -- -- -- --
Other current assets ........ -- 0.1 0.4 -- -- -- -- -- -- -- 0.5
- ------------------------------------------------------------------------------------------------------------------------------------
Total current assets .... 71.1 7.8 6.4 3.6 0.4 6.0 27.4 41.2 0.3 (79.1) 85.1
- ------------------------------------------------------------------------------------------------------------------------------------
Investment and Equity in
Associated Companies ........ 58.8 -- -- -- -- -- -- -- -- (58.8) --
- ------------------------------------------------------------------------------------------------------------------------------------
Property, Plant and Equipment
Utility plant ............... -- -- -- -- -- -- -- -- -- -- --
Less Accumulated Depreciation -- -- -- -- -- -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Utility plant - net ....... -- -- -- -- -- -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Non-utility property ........ -- 29.6 2.4 3.8 0.1 -- -- -- 0.3 -- 36.2
Less Accumulated Depreciation -- 6.2 0.6 2.8 -- -- -- -- 0.2 -- 9.8
- ------------------------------------------------------------------------------------------------------------------------------------
Non-utility property - net -- 23.4 1.8 1.0 0.1 -- -- -- 0.1 -- 26.4
- ------------------------------------------------------------------------------------------------------------------------------------
Total property, plant and
equipment ............. -- 23.4 1.8 1.0 0.1 -- -- -- 0.1 -- 26.4
- ------------------------------------------------------------------------------------------------------------------------------------
Deferred Debits and Other Assets
Unrecovered environmental
response costs ............ -- -- -- -- -- -- -- -- -- -- --
Investments in joint ventures -- -- -- -- -- -- -- -- -- -- --
Unrecovered postretirement
benefits costs ............ -- -- -- -- -- -- -- -- -- -- --
Other ....................... -- 6.0 0.3 -- 0.1 -- -- -- -- -- 6.4
- ------------------------------------------------------------------------------------------------------------------------------------
Total deferred debits and
other assets ............ -- 6.0 0.3 -- 0.1 -- -- -- -- -- 6.4
- ------------------------------------------------------------------------------------------------------------------------------------
Total Assets .................. $129.9 $37.2 $8.5 $4.6 $0.6 $6.0 $27.4 $41.2 $0.4 $(137.9) $117.9
====================================================================================================================================
</TABLE>
Page 3 of 4
<PAGE>
Exhibit A1-1
<TABLE>
<CAPTION>
AGL INVESTMENTS, INC.
Condensed Consolidating Balance Sheets (Unaudited)
For the Twelve Months Ended December 31, 1999
(In Millions)
Consoli-
AGL Reclassi- dated
Trustees Energy AGL AGL AGL fications AGL
AGL AGL Utili- Invest- Wise Consumer Power Gas Georgia and Invest-
Investments Propane, pro, ments, Services, Services Services Marketing Energy Elimi- ments,
Corporate Inc. Inc. Inc. Inc. Inc. Inc. Inc. Company nations Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
LIABILITIES
Current Liabilities
Accounts payable - trade .... $ 0.5 $1.3 $3.2 -- -- $0.3 -- -- -- -- $5.3
Intercompany payables ....... 95.8 0.5 5.9 1.7 0.7 5.6 5.7 6.4 0.2 (79.0) 43.5
Short-term debt ............. -- -- -- -- -- -- -- -- -- -- --
Current portion of long-term
debt ...................... -- -- -- -- -- -- -- -- -- -- --
Gas cost credits ............ -- -- -- -- -- -- -- -- -- -- --
Customer deposits ........... -- -- -- -- -- -- -- -- -- -- --
Interest .................... -- -- 0.1 -- -- -- -- -- -- (0.1) --
Taxes ....................... -- 1.0 (0.7) 0.3 -- -- 2.5 1.3 -- -- 4.4
Wages and salaries .......... (0.6) 0.1 0.1 0.1 -- -- -- -- -- -- (0.3)
Other accrued liabilities ... -- -- -- -- -- -- -- -- -- -- --
Deferred purchased gas
adjustments ............... -- -- -- -- -- -- -- -- -- -- --
Other current liabilities ... 0.1 0.2 -- -- 0.2 -- -- -- 0.2 -- 0.7
- ------------------------------------------------------------------------------------------------------------------------------------
Total current liabilities . 95.8 3.1 8.6 2.1 0.9 5.9 8.2 7.7 0.4 (79.1) 53.6
- ------------------------------------------------------------------------------------------------------------------------------------
Accumulated deferred income tax (0.1) 5.1 (1.0) -- -- -- 1.1 (0.6) -- -- 4.5
- ------------------------------------------------------------------------------------------------------------------------------------
Long-Term Liabilities
Accrued environmental
response costs ............ -- -- -- -- -- -- -- -- -- -- --
Accrued postretirement
benefits costs ............ -- -- -- -- -- -- -- -- -- -- --
Accrued pension costs ....... -- -- -- -- -- -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Total long-term liabilities -- -- -- -- -- -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Minority Interest ............. -- -- -- -- -- -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Deferred credits
Unamortized investment
tax credit ................ -- -- -- -- -- -- -- -- -- -- --
Regulatory tax liability .... -- -- -- -- -- -- -- -- -- -- --
Other ....................... -- -- 0.8 -- -- -- -- 0.2 -- -- 1.0
- ------------------------------------------------------------------------------------------------------------------------------------
Total deferred credits .... -- -- 0.8 -- -- -- -- 0.2 -- -- 1.0
- ------------------------------------------------------------------------------------------------------------------------------------
Equity Investment from Parent . 40.5 23.5 3.0 2.2 0.2 -- 3.6 25.0 0.6 (58.1) 40.5
- ------------------------------------------------------------------------------------------------------------------------------------
Capitalization
Long-term debt .............. -- -- -- -- -- -- -- -- -- -- --
Subsidiary obligated
mandatorily redeemable
preferred securities ...... -- -- 0.7 -- -- -- -- -- -- (0.7) --
Common stockholders' equity
Common Stock .............. -- -- -- -- -- -- -- -- -- -- --
Premium on Capital Stock .. (0.5) -- -- -- -- -- -- -- -- -- (0.5)
Earnings Reinvested ....... (5.8) 5.5 (3.6) 0.3 (0.5) 0.1 14.5 8.9 (0.6) -- 18.8
Treasury Stock ............ -- -- -- -- -- - - -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Total capitalization .... (6.3) 5.5 (2.9) 0.3 (0.5) 0.1 14.5 8.9 (0.6) (0.7) 18.3
- ------------------------------------------------------------------------------------------------------------------------------------
Total Liabilities ............. $129.9 $37.2 $8.5 $4.6 $0.6 $6.0 $27.4 $41.2 $0.4 $(137.9) $117.9
====================================================================================================================================
</TABLE>
Page 4 of 4
<PAGE>
Exhibit A2
<TABLE>
<CAPTION>
ATLANTA GAS LIGHT UTILITY OPERATIONS
Condensed Consolidating Income Statements (Unaudited)
For the Twelve Months Ended December 31, 1999
(In Millions)
AGL Consolidated
Atlanta Energy Georgia Atlanta Gas
Gas Light Chattanooga Services, Gas Reclassifications Light Utility
Company Gas Company Inc. Company and Eliminations Operations
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues ............................ $450.7 $72.2 $370.4 -- -- $ 893.3
Cost of Sales ................................. 0.7 42.5 360.1 -- -- 403.3
- ------------------------------------------------------------------------------------------------------------------------------------
Operating Margin ......................... 450.0 29.7 10.3 -- -- 490.0
- ------------------------------------------------------------------------------------------------------------------------------------
Other Operating Expenses
Operation and maintenance expenses ....... 242.0 14.1 -- -- -- 256.1
Depreciation and amortization ............ 61.8 5.3 -- -- -- 67.1
Taxes other than income .................. 17.8 3.3 0.1 -- -- 21.2
- ------------------------------------------------------------------------------------------------------------------------------------
Total other operating expenses ........ 321.6 22.7 0.1 -- -- 344.4
- ------------------------------------------------------------------------------------------------------------------------------------
Operating Income .............................. 128.4 7.0 10.2 -- -- 145.6
- ------------------------------------------------------------------------------------------------------------------------------------
Other Income (Loss) ........................... 1.4 0.1 -- -- 2.2 3.7
- ------------------------------------------------------------------------------------------------------------------------------------
Gain on Sale of Joint Venture Interests ....... -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Income Before Interest and Income Taxes ....... 129.8 7.1 10.2 -- 2.2 149.3
- ------------------------------------------------------------------------------------------------------------------------------------
Interest Expense and Preferred Stock Dividends
Interest expense ......................... 46.3 0.1 0.4 -- 0.1 46.9
Dividends on preferred stock of subsidiary
- ------------------------------------------------------------------------------------------------------------------------------------
Total interest expense and preferred
stock dividends ....................... 46.3 0.1 0.4 -- 0.1 46.9
- ------------------------------------------------------------------------------------------------------------------------------------
Income Before Income Taxes .................... 83.5 7.0 9.8 -- 2.1 102.4
- ------------------------------------------------------------------------------------------------------------------------------------
Income Taxes .................................. 28.9 2.7 3.8 -- -- 35.4
- ------------------------------------------------------------------------------------------------------------------------------------
Net Income .................................... $ 54.6 $ 4.3 $ 6.0 -- $ 2.1 $ 67.0
====================================================================================================================================
</TABLE>
Page 1 of 4
<PAGE>
Exhibit A2
<TABLE>
<CAPTION>
ATLANTA GAS LIGHT UTILITY OPERATIONS
Condensed Consolidating Statements of Earnings Reinvested (Unaudited)
For the Twelve Months Ended December 31, 1999
(In Millions)
AGL Consolidated
Atlanta Energy Georgia Atlanta Gas
Gas Light Chattanooga Services, Gas Reclassifications Light Utility
Company Gas Company Inc. Company and Eliminations Operations
<S> <C> <C> <C> <C> <C> <C>
Earnings Reinvested at Beginning of Period $ 244.7 $ 42.6 $ 6.3 $ 3.5 $ (46.1) $ 251.0
Net Income 54.6 4.3 6.0 -- 2.1 67.0
Dividends on Common Stock -- -- -- -- -- --
Adjustments - reverse subsidiary income (40.5) -- (3.5) -- 44.0 --
Adjustments - rounding -- -- -- -- -- --
Loss on issuance of treasury Stock -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Earnings Reinvested at End of Period $ 258.8 $ 46.9 $ 8.8 $ 3.5 -- $ 318.0
====================================================================================================================================
</TABLE>
Page 2 of 4
<PAGE>
Exhibit A2
<TABLE>
<CAPTION>
ATLANTA GAS LIGHT UTILITY OPERATIONS
Condensed Consolidating Balance Sheets (Unaudited)
For the Twelve Months Ended December 31, 1999
(In Millions)
AGL Consolidated
Atlanta Energy Georgia Atlanta Gas
Gas Light Chattanooga Services, Gas Reclassifications Light Utility
Company Gas Company Inc. Company and Eliminations Operations
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Current Assets
Cash ...................................... -- $(0.1) $ (0.1) -- -- $ (0.2)
Receivables ............................... 23.6 17.8 1.3 -- -- 42.7
Intercompany receivables .................. 1,414.3 38.2 693.9 2.7 (1,535.4) 613.7
Inventories:
Natural gas stored underground .......... 14.4 6.2 -- -- -- 20.6
LNG stored .............................. 0.8 2.2 -- -- -- 3.0
Other ................................... 7.7 0.2 -- -- -- 7.9
Deferred purchased gas adjustments ........ -- 1.1 -- -- -- 1.1
Other current assets ...................... 1.6 -- -- -- -- 1.6
- ------------------------------------------------------------------------------------------------------------------------------------
Total current assets .................. 1,462.4 65.6 695.1 2.7 (1,535.4) 690.4
- ------------------------------------------------------------------------------------------------------------------------------------
Investment and Equity in Associated Companies 38.9 -- -- -- (38.9) --
- ------------------------------------------------------------------------------------------------------------------------------------
Property, Plant and Equipment
Utility plant ............................. 2,143.8 156.6 -- -- -- 2,300.4
Less Accumulated Depreciation ............. 716.4 56.2 -- -- -- 772.6
- ------------------------------------------------------------------------------------------------------------------------------------
Utility plant - net ..................... 1,427.4 100.4 -- -- -- 1,527.8
- ------------------------------------------------------------------------------------------------------------------------------------
Non-utility property ...................... 1.1 -- 0.4 1.9 -- 3.4
Less Accumulated Depreciation ............. -- -- 0.1 1.7 -- 1.8
- ------------------------------------------------------------------------------------------------------------------------------------
Non-utility property - net .............. 1.1 -- 0.3 0.2 -- 1.6
- ------------------------------------------------------------------------------------------------------------------------------------
Total property, plant and equipment ... 1,428.5 100.4 0.3 0.2 -- 1,529.4
- ------------------------------------------------------------------------------------------------------------------------------------
Deferred Debits and Other Assets
Unrecovered environmental response costs .. 146.4 -- -- -- -- 146.4
Investments in joint ventures ............. -- -- -- 0.4 -- 0.4
Unrecovered postretirement benefits costs . 8.3 -- -- -- -- 8.3
Other ..................................... 21.6 0.2 -- 0.2 -- 22.0
- ------------------------------------------------------------------------------------------------------------------------------------
Total deferred debits and other assets .. 176.3 0.2 -- 0.6 -- 177.1
- ------------------------------------------------------------------------------------------------------------------------------------
Total Assets ................................ $3,106.1 $166.2 $695.4 $ 3.5 $(1,574.3) $ 2,396.9
====================================================================================================================================
</TABLE>
Page 3 of 4
<PAGE>
Exhibit A2
<TABLE>
<CAPTION>
ATLANTA GAS LIGHT UTILITY OPERATIONS
Condensed Consolidating Balance Sheets (Unaudited)
For the Twelve Months Ended December 31, 1999
(In Millions)
AGL Consolidated
Atlanta Energy Georgia Atlanta Gas
Gas Light Chattanooga Services, Gas Reclassifications Light Utility
Company Gas Company Inc. Company and Eliminations Operations
<S> <C> <C> <C> <C> <C> <C>
LIABILITIES
Current Liabilities
Accounts payable - trade ............ $ 22.0 $ 5.1 $ (0.3) -- -- $ 26.8
Intercompany payables ............... 1,403.1 62.0 682.2 0.1 (1,535.4) 612.0
Short-term debt ..................... -- -- -- -- -- --
Current portion of long-term debt ... 10.0 -- -- -- -- 10.0
Gas cost credits .................... 2.0 -- -- -- -- 2.0
Customer deposits ................... 0.4 1.8 -- -- -- 2.2
Interest ............................ 11.9 0.6 -- -- -- 12.5
Taxes ............................... 10.0 7.4 0.8 (0.1) -- 18.1
Wages and salaries .................. 5.7 0.4 0.3 -- -- 6.4
Other accrued liabilities ........... -- -- -- -- -- --
Deferred purchased gas adjustments .. -- -- -- -- -- --
Other current liabilities ........... 11.2 0.7 -- -- -- 11.9
- ------------------------------------------------------------------------------------------------------------------------------------
Total current liabilities ....... 1,476.3 78.0 683.0 -- (1,535.4) 701.9
- ------------------------------------------------------------------------------------------------------------------------------------
Accumulated deferred income tax ....... 210.1 4.5 -- -- -- 214.6
- ------------------------------------------------------------------------------------------------------------------------------------
Long-Term Liabilities
Accrued environmental response costs 102.4 -- -- -- -- 102.4
Accrued postretirement benefits costs 31.1 1.6 -- -- -- 32.7
Accrued pension costs ............... 4.6 (0.4) -- -- -- 4.2
- ------------------------------------------------------------------------------------------------------------------------------------
Total long-term liabilities ..... 138.1 1.2 -- -- -- 139.3
- ------------------------------------------------------------------------------------------------------------------------------------
Minority Interest ..................... -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Deferred credits
Unamortized investment tax credit ... 24.1 -- -- -- -- 24.1
Regulatory tax liability ............ 16.2 -- -- -- -- 16.2
Other ............................... 6.6 0.3 -- -- -- 6.9
- ------------------------------------------------------------------------------------------------------------------------------------
Total deferred credits .......... 46.9 0.3 -- -- -- 47.2
- ------------------------------------------------------------------------------------------------------------------------------------
Equity Investment from Parent ......... 363.6 35.3 3.6 -- (38.9) 363.6
- ------------------------------------------------------------------------------------------------------------------------------------
Capitalization
Long-term debt ...................... 610.0 -- -- -- -- 610.0
Subsidiary obligated
mandatorily redeemable
preferred securities .............. -- -- -- -- -- --
Common stockholders' equity
Common Stock ...................... -- -- -- -- -- --
Premium on Capital Stock .......... 2.3 -- -- -- -- 2.3
Earnings Reinvested ............... 258.8 46.9 8.8 3.5 -- 318.0
Treasury Stock .................... -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Total capitalization ............ 871.1 46.9 8.8 3.5 -- 930.3
- ------------------------------------------------------------------------------------------------------------------------------------
Total Liabilities ..................... $ 3,106.1 $166.2 $ 695.4 $ 3.5 $ (1,574.3) $ 2,396.9
====================================================================================================================================
</TABLE>
Page 4 of 4
<PAGE>
[ARTICLE] OPUR3
[LEGEND]
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM INTERNAL COMPANY FINANCIAL STATEMENTS FOR THE TWELVE MONTH
PERIOD ENDED DECEMBER 31, 1999 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS
[CIK] 0001004155
[NAME] AGL RESOURCES INC.
<TABLE>
<S> <C>
[MULTIPLIER] 1,000,000
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] SEP-30-2000
[PERIOD-START] JAN-01-1999
[PERIOD-END] DEC-31-1999
[BOOK-VALUE] PER-BOOK
[TOTAL-ASSETS] 1930
[TOTAL-OPERATING-REVENUES] 933
[NET-INCOME] 76
</TABLE>
<PAGE>
[ARTICLE] OPUR3
[LEGEND]
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM INTERNAL COMPANY FINANCIAL STATEMENTS FOR THE TWELVE MONTH
PERIOD ENDED DECEMBER 31, 1999 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS
[CIK] 0000008154
[NAME] ATLANTA GAS LIGHT COMPANY
<TABLE>
<S> <C>
[MULTIPLIER] 1,000,000
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] SEP-30-2000
[PERIOD-START] JAN-01-1999
[PERIOD-END] DEC-31-1999
[BOOK-VALUE] PER-BOOK
[TOTAL-ASSETS] 2397
[TOTAL-OPERATING-REVENUES] 893
[NET-INCOME] 67
</TABLE>
