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Previous: BABSON STEWART IVORY INTERNATIONAL FUND INC, NSAR-A, 1999-02-26 |
Next: NIPSCO INDUSTRIES INC, PRE 14A, 1999-02-26 |
<PAGE>
FORM U-3A-2
File No. 69-340
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.
Statement by Holding Company Claiming Exemption
Under Rule U-2 from Provisions of the Public Utility
Holding Company Act of 1935
To be filed annually prior to March 1
NIPSCO Industries, Inc.
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to Rule U-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:
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. Information below is as of December 31, 1998.
<TABLE>
<CAPTION>
State of
Name of Company Organization Location Nature of Business
====================== ============= ================= =====================
<S> <C> <C> <C>
NIPSCO Industries, Inc. Indiana Merrillville, Holding company
Indiana
NIPSCO Industries Indiana Merrillville, Management services
Management Services Indiana
Company
Hamilton Harbour Indiana Merrillville, Captive insurance
Insurance Services, Ltd. Indiana program
NI Telecomm, Inc.(7) Indiana Merrillville, Inactive
Indiana
Crossroads Pipeline Indiana Merrillville, Interstate gas
Company (7) Indiana transmission
NIPSCO Capital Markets, Indiana Hammond, Funding agent for
Inc. Indiana all subsidiaries
other than Northern
Indiana Public Service
Company
NEM Acquisition Indiana Merrillville, Holding company
Corporation (7) Indiana
IWC Resources Indiana Indianapolis, Holding company
Corporation Indiana
Indianapolis Water Indiana Indianapolis, Water company
Company (1) Indiana
Harbour Water Indiana Indianapolis, Water company
Corporation (1) Indiana
Liberty Water Indiana Indianapolis, Water company
Corporation (1) Indiana
Utility Data Indiana Indianapolis, Provides customer
Corporation (1) Indiana billing and data
processing services
IWC Services, Inc. Indiana Indianapolis, Majority partner
(1) Indiana in wastewater
treatment
facilities
White River Indiana Indianapolis, Operator of waste-
Environmental Indiana water treatment
Partnership (2) plants
Waterway Holdings, Inc. Indiana Indianapolis, Real-estate
(1) Indiana development
SM&P Utility Resources, Indiana Indianapolis, Provides utility
Inc. (1) Indiana locate and
marking services
Miller Pipeline Indiana Indianapolis, Pipeline
Corporation (1) Indiana construction
Primary Energy, Inc. Indiana Merrillville Arranges energy-
Indiana related projects
Harbor Coal Company (3) Indiana Merrillville Coal pulverization
Indiana project company
Lakeside Energy Indiana Merrillville, Electric generator
Corporation (3) Indiana project company
North Lake Energy Indiana Merrillville, Electric generation
Corporation (3) Indiana project company
Portside Energy Indiana Merrillville, Power generation
Corporation (3) Indiana project company
Cokenergy, Inc. (3) Indiana Merrillville, Power generation
Indiana project company
Ironside Energy Indiana Merrillville, Power generation
Corporation (3) Indiana project company
Oilside Energy Indiana Merrillville, Power generation
Corporation (3) Indiana project company
Northern Indiana Public Indiana Hammond, Electric and
Service Company Indiana gas utility
NIPSCO Exploration Indiana Hammond, Gas exploration
Company, Inc. (4) Indiana investment in
off-shore Gulf of
Mexico oil and
gas leases
Shore Line Shops, Indiana Hammond, Real estate
Inc. (4) Indiana purchase and sale
of transferred
employees
residences
NI Energy Services, Indiana Merrillville, Holding company for
Inc. Indiana energy-related
diversified
projects and
subsidiaries
Market Hub Partners, Delaware Wilmington, General partner of
Inc. (6) Delaware Market Hub Partners, L.P.
Market Hub Partners, Delaware Lansdowne, Natural gas
L.P. (5)(24) Virginia storage
Inventory Management and Texas Houston, Energy risk
Distribution Company, Texas management
L.L.C. (6) and gas storage
optimization
NIPSCO Fuel Company, Indiana Merrillville, Investments in
Inc. (7) Indiana gas and oil
ventures
Bristol Resources Delaware Tulsa, Oil and gas
Production Company, Oklahoma exploration
L.L.C. (8) and production
NFCO Acquisition Company Texas Dallas, Investment in
(9) Texas gas and oil
properties
NI-TEX, Inc. (7) Indiana Merrillville, Gas supply and
Indiana transportation
NI-TEX Gas Services, Delaware Dallas, Gas storage
Inc. (7) Texas
Laredo Nueces Pipeline Texas Dallas, Intrastate gas
Company (21) Texas pipeline company
Midtex Gas Storage Texas Matagorda Gas storage and
Company, L.L.P. (22) County, Texas intrastate pipeline
company
NESI Energy Marketing, Indiana Merrillville, Marketing of natural
L.L.C. (10) (11) Indiana gas energy and
energy services
Green Fuels, Inc. (7) Indiana Merrillville, Alternative
Indiana fuels
NI Energy Services Indiana Merrillville, Gas Pipeline
Transportation, Inc. (7) Indiana
NESI Power Marketing, Indiana Merrillville, Electric
Inc. (7) Indiana brokering
NESI Integrated Energy Indiana Merrillville, Retail gas
Resources, Inc. (7) Indiana marketing
NESI Solutions, Indiana Merrillville, Energy consulting
Inc. (7) Indiana commercial lighting
NIPSCO Energy Services Alberta Calgary, Holding company
Canada Ltd. (7) Alberta for subsidiaries
NESI Canadian Holdings, Indiana Merrillville, Holding company for
Inc. (7) Indiana energy-related
diversified projects
and subsidiaries
NI Canada ULC (23) Nova Scotia Calgary, Investment in gas
Alberta and oil properties
NI Energy Services Indiana Merrillville, Gas Pipeline
Development Corporation (7) Indiana
Portland Natural Gas Maine Portsmouth, Gas Pipeline
Transmission System (26) New Hampshire
Canor Energy Ltd. (25) Alberta Calgary, Development and
Alberta investment in gas
and oil properties
in western Canada
NESI Energy Marketing Alberta Calgary, Inactive
Canada, Ltd. (12) Alberta (In bankruptcy)
NIPSCO Development Indiana Merrillville, Holding company
Company, Inc. Indiana (including real
estate development
investments)
Analytic Systems Indiana Hobart, Fluid filtration
Laboratories, Inc. (13) Indiana systems
Protonics Research, Inc. Indiana Merrillville, Energy research
(13) Indiana and development
International Polymer Indiana Merrillville, Inactive
Corporation (14) Indiana
JOF Transportation Indiana Merrillville, Rail freight
Company (14) Indiana venture
KOGAF Enterprises, Inc. Indiana Kokomo, Real estate
(14) Indiana investments
Lake Erie Land Company Indiana Merrillville, Development
Inc. (14) Indiana of commercial
and residential
real estate
SCC Services, Inc. (15) Indiana Merrillville, Operation of
Indiana golf course
N Squared Aviation, Delaware Griffith, Aircraft
LLC (16) Indiana leasing
NDC Douglas Properties, Indiana Merrillville, Affordable
Inc. (14) Indiana housing projects
NIPSCO International Indiana Merrillville, Inactive
Power Systems Company (14) Indiana
NIPSCO Security Services, Indiana Merrillville, Security services
Inc. (7) Indiana
Customer Information Indiana Merrillville, Consulting services
Services, Inc. (14) Indiana for customer
information systems
Cardinal Property Indiana Merrillville, Building and
Management, Inc. (14) Indiana property
management
Progeni, Inc. Illinois Chicago, Energy product
(14) Illinois development
Sun Power California Sunnyvale, Silicon-based
Corporation (20) California semiconductor
products
Kokomo Gas and Fuel Indiana Kokomo, Gas utility
Company Indiana
KGF Trading Indiana Kokomo, Gas brokering
Company (19) Indiana
Northern Indiana Fuel and Indiana Auburn, Gas utility
Light Company, Inc. Indiana
Northern Indiana Trading Indiana Auburn, Gas brokering
Company (18) Indiana
<FN>
(1) Wholly-owned subsidiary of IWC Resources Corporation.
(2) Majority-owned interest of IWC Services, Inc.
(3) Wholly-owned subsidiary of Primary Energy, Inc.
(4) Wholly-owned subsidiary of Northern Indiana Public Service Company.
(5) Minority-owned partnership of NI Energy Services, Inc.
(6) Minority-owned interest of NI Energy Services, Inc.
(7) Wholly-owned subsidiary of NI Energy Services, Inc.
(8) Majority-owned interest of NIPSCO Fuel Company, Inc.
(9) Wholly-owned subsidiary of NIPSCO Fuel Company, Inc.
(10) Majority-owned interest of NI Energy Services, Inc.
(11) Minority-owned interest of NEM Acquisition Corporation.
(12) Majority-owned subsidiary of NIPSCO Energy Services Canada Ltd.
(13) Majority-owned subsidiary of NIPSCO Development Company, Inc.
(14) Wholly-owned subsidiary of NIPSCO Development Company, Inc.
(15) Wholly-owned subsidiary of Lake Erie Land Company.
(16) Minority-owned interest of NIPSCO Development Company, Inc.
(17) Wholly-owned subsidiary of Customer Information Services, Inc.
(18) Wholly-owned subsidiary of Northern Indiana Fuel and Light Company, Inc.
(19) Wholly-owned subsidiary of Kokomo Gas and Fuel Company.
(20) Minority-owned interest of NIPSCO Development Company, Inc.
(21) 50% owned interest of NI-TEX, Inc.
(22) Minority-owned interest of NI-TEX Gas Services, Inc.
(23) Wholly-owned subsidiary of NESI Canadian Holdings, Inc.
(24) Minority-owned interest of Market Hub Partners, Inc.
(25) Minority-owned interest of NI Canada ULC.
(26) Minority-owned interest of NI Energy Services Development Corporation.
</FN>
</TABLE>
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.
The claimant, NIPSCO Industries, Inc. (Industries), owns no physical properties.
All the physical properties of Northern Indiana Public Service Company (Northern
Indiana), Kokomo Gas and Fuel Company (Kokomo Gas) and Northern Indiana Fuel and
Light Company, Inc. (NIFL) are located in the State of Indiana. Crossroads
Pipeline Company (Crossroads) owns a 202-mile natural gas interstate pipeline
running from Northwest Indiana to Cygnet, Ohio.
Northern Indiana Public Service Company. Northern Indiana is a public utility
operating company engaged in supplying natural gas and electrical energy to the
public. It operates in 30 counties in the northern part of Indiana, serving an
area of about 12,000 square miles with a population of approximately 2.2
million. Northern Indiana, at December 31, 1998, served approximately 671,200
customers with gas and approximately 421,000 with electricity.
ELECTRIC. Northern Indiana owns and operates four electric generating stations
using fossil fuels with net capability of 3,179,000 kilowatts (kw), two
hydroelectric generating plants with rated net capabilities of 10,000 kw, four
gas fired combustion turbine generating units with net capabilities of 203,000
kw, for a total system capacity of 3,392,000 kw. All of Northern Indiana's
generating units are located in Northwest Indiana.
Northern Indiana has 291 substations with an aggregate transformer capacity of
23,131,300 KVA. Its transmission system with voltages from 34,500 to 345,000
consists of approximately 3,058 circuit miles of line. The electric distribution
system extends into 21 counties and consists of approximately 7,814 circuit
miles of overhead and approximately 1,497 cable miles of underground primary
distribution lines operating at various voltages from 2,400 to 12,500 volts.
GAS. In 1998, all of the gas supplied by Northern Indiana was transported by ANR
Pipeline Company (ANR), Crossroads, Midwestern Gas Transmission Company
(Midwestern), Natural Gas Pipeline Company of America (Natural), Panhandle
Eastern Pipe Line Company (Panhandle), Tennessee Gas Pipeline Company
(Tennessee), and Trunkline Gas Company (Trunkline). Approximately 84% of
Northern Indiana's 1998 gas supply was purchased on the spot market, generally
on less than 30-day agreements.
The transportation rates of Crossroads, and the transportation and storage rates
of ANR, Midwestern, Natural, Panhandle, Tennessee, and Trunkline to Northern
Indiana are subject to change in accordance with rate proceedings filed with the
Federal Energy Regulatory Commission (FERC).
Northern Indiana has in operation an underground gas storage field at Royal
Center, Indiana, which currently has a storage capacity of 6.75 billion cubic
foot (Bcf).
In addition, Northern Indiana has several gas storage service agreements which
make possible the withdrawal of substantial quantities of gas from other storage
facilities. All of the storage agreements have limitations on the daily
withdrawal volumes and the timing thereof.
Northern Indiana has a liquefied natural gas plant in La Porte County, Indiana,
which is designed for peak shaving and has the following capacities: maximum
storage of 4.0 Bcf; maximum liquefaction rate (gas to liquid), 20,000 Mcf per
day; maximum vaporization rate (output to distribution system), 300,000 Mcf per
day. Northern Indiana has approximately 13,586 miles of gas mains.
OTHER PROPERTIES. The physical properties of Northern Indiana are located in
the state of Indiana.
Kokomo Gas and Fuel Company. Kokomo Gas is a public utility operating company
which provides natural gas and natural gas transportation services to
approximately 33,800 customers at December 31, 1998. Kokomo's service
territories include all of Howard County, and parts of Carroll, Cass, Clinton,
Miami, and Tipton Counties in Indiana. Kokomo's service area has a population in
excess of 100,000 people and includes 23 cities, towns, and communities.
Kokomo Gas purchased gas on the spot market from NESI Energy Marketing L.L.C.,
subsidiary of NIPSCO Energy Services, Inc., to satisfy all of its system
requirements in 1998.
Kokomo Gas has a liquefied natural gas plant in Howard County which has the
following capacities: maximum storage of 400,000 Mcf; maximum liquefaction rate
(gas to liquid), 2,850 Mcf per day; maximum vaporization rate (output to
distribution system), 30,000 Mcf per day. Kokomo Gas also has a gas holder with
a storage capacity of 12,000 Mcf. Kokomo Gas has approximately 760 miles of gas
mains.
Northern Indiana Fuel and Light Company, Inc. NIFL is a public utility operating
company which provides natural gas and natural gas transportation services to
approximately 34,400 customers at December 31, 1998. NIFL's service territories
include all of DeKalb and Steuben, and parts of Allen, LaGrange, and Noble
Counties in Indiana. NIFL's service area has a population in excess of 66,700
people and includes 22 cities, towns, and communities.
NIFL purchased gas from NESI Energy Marketing L.L.C., to satisfy all of its
system requirements in 1998. NIFL has approximately 830 miles of gas mains.
Crossroads Pipeline Company. Crossroads Pipeline Company is a 20-inch
interstate, natural gas pipeline that extends from near the Illinois-Indiana
state line east 202 miles to Cygnet, Ohio.
3. The following information for the year 1998 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>
Total Electric Retail Gas
Sales Distributed
Company (kwh) (Mcf)
=============================== =============== =============
<S> <C> <C>
Northern Indiana Public Service
Company 17,061,977,350 288,579,855
Kokomo Gas and Fuel Company NONE 7,402,631
Northern Indiana Fuel and Light
Company, Inc. NONE 7,361,722
</TABLE>
(b) Number of kwh of electric energy and Mcf of natural or manufactured gas
distributed at retail outside the State in which each such company is
organized.
NONE.
(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.
<TABLE>
<CAPTION>
Electric Sales Gas Sales
Company (kwh) (Mcf)
=============================== ============== =============
<S> <C> <C>
Northern Indiana Public Service
Company 1,898,910,000 9,629,327
Kokomo Gas and Fuel Company NONE NONE
Northern Indiana Fuel and Light
Company, Inc. NONE NONE
</TABLE>
(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.
<TABLE>
<CAPTION>
Electric
Purchases Gas Purchases
Company (kwh) (Mcf)
=============================== =============== =============
<S> <C> <C>
Northern Indiana Public Service
Company 900,662,000 100,922,473
Kokomo Gas and Fuel Company NONE NONE
Northern Indiana Fuel and Light
Company, Inc. NONE NONE
</TABLE>
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.
Retyred 99 Ltd. ("Retyred") (formerly Elm Energy and Recycling (UK)Ltd.
("Elm Energy")), was an exempt wholesale generator, it was a whole tires-to-
energy facility whose registered address is Retyred 99 Ltd., c/o Eileen
Parks, 22 Tyningham Avenue, Tettenhall, Wolverhampton WV69PW, England. The
facility incinerated waste tires, raised steam and generated electricity for
export to the grid. As of December 31, 1998, Retyred sold the facility.
(b) Name of each system company that holds an interest in such EWG or
foreign utility company; and description of the interest held.
Development holds a 79% equity ownership position in Retyred.
(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.
Industries invested $23,121,000 for Ordinary Shares of Retyred in-
directly through Development. Industries has provided no guarantees nor is
there any debt having recourse to Industries.
(d) Capitalization and earnings of the EWG or foreign utility company during
the reporting period.
<TABLE>
<CAPTION>
Retyred '99 Ltd.
1998 (In thousands)
===================================== ============
<S> <C>
Capitalization at December 31, 1998:
Shareholders' equity $ 2,247
Long-term debt 0
--------
Total $ 2,247
=======
Net (loss) $ 2,411
=======
</TABLE>
(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).
Pursuant to the Engineering Services Agreement dated June 22, 1994
between Retyred and Development, Development has agreed to provide personnel
to supervise the engineering operations and planning related to the Whole
Tyre Recycling Facility at Wolverhampton. Development is to be paid 250,000
pounds sterling yearly for these services with invoicing quarterly in
arrears. During 1998, Development earned $412,050 for these services. With
the sale of the facility in December 1998, the agreement was terminated.
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
This schedule contains summary financial information extracted from the
financial statements of NIPSCO Industries, Inc. for twelve months ended
December 31, 1998, and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 4,986,503
<TOTAL-OPERATING-REVENUES> 2,932,778
<NET-INCOME> 193,886
</TABLE>
<PAGE>
Exhibit 99.A
(EXHIBIT A)
December 31, 1998 ORGANIZATION CHART
A.1 NIPSCO Industries, Inc.
A.2 NIPSCO Industries Management Services Company
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.3 Hamilton Harbour Insurance Services, Ltd.
A.4 NI Telecomm, Inc.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.5 Crossroads Pipeline Company
A.6 NIPSCO Capital Markets, Inc.
A.7 NEM Acquisition Corporation
A.8 IWC Resources Corporation
A.9 Indianapolis Water Company
A.10 Harbour Water Corporation
A.11 Liberty Water Corporation
A.12 Utility Data Corporation
A.13 IWC Services, Inc.
A.14 White River Environmental Partnership
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.15 Waterway Holdings, Inc.
A.16 SM&P Utility Resources, Inc.
A.17 Miller Pipeline Corporation
A.18 Primary Energy, Inc.
A.19 Harbor Coal Company
A.20 Lakeside Energy Corporation
A.21 North Lake Energy Corporation
A.22 Portside Energy Corporation
A.23 Cokenergy, Inc.
A.24 Ironside Energy Corporation
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.25 Oilside Energy Corporation
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.26 Northern Indiana Public Service Company
A.27 NIPSCO Exploration Company, Inc.
A.28 Shore Line Shops, Incorporated
A.29 NI Energy Services, Inc.
A.30 Market Hub Partners, Inc.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.31 Market Hub Partners, L.P.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.32 Inventory Management and Distribution Company, L.L.C.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.33 NIPSCO Fuel Company, Inc.
A.34 Bristol Resources Production Company L.L.C.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.35 NFCO Acquisition Company
A.36 NI-TEX, Inc.
A.37 NI-TEX Gas Services, Inc.
A.38 Laredo Nueces Pipeline Company
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.39 Midtex Gas Storage Company, L.L.P.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.40 NESI Energy Marketing, L.L.C.
A.41 Green Fuels, Inc.
A.42 NI Energy Services Transportation, Inc.
A.43 NESI Power Marketing, Inc.
A.44 NESI Integrated Energy Resources, Inc.
A.45 NESI Solutions, Inc.
A.46 NIPSCO Energy Services Canada, Ltd.
A.47 NESI Canadian Holdings, Inc.
A.48 NI Canada ULC
A.49 NI Energy Services Development, Inc.
A.50 Portland Natural Gas Transmission System
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.51 Canor Energy, Ltd.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.52 NESI Energy Marketing Canada, Ltd.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.53 NIPSCO Development Company, Inc.
A.54 Analytic Systems Laboratories, Inc.
A.55 Protonics Research, Inc.
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.56 International Polymer Corporation
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.57 JOF Transportation Company
A.58 KOGAF Enterprises, Inc.
A.59 Lake Erie Land Company
A.60 SCC Services, Inc.
A.61 N Squared Aviation, LLC
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.62 NDC Douglas Properties, Inc.
A.63 NIPSCO International Power Systems Company
INCOME STATEMENT (No Activity)
A.64 NIPSCO Security Services, Inc.
A.65 Customer Information Services, Inc.
A.66 Cardinal Property Management, Inc.
A.67 Progeni, Inc.
A.68 Sun Power Corporation
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.69 Kokomo Gas and Fuel Company
A.70 KGF Trading Company
BALANCE SHEET (None - Zero Amounts)
INCOME STATEMENT (No Activity)
STATEMENT OF RETAINED EARNINGS (None - Zero Amounts)
A.71 Northern Indiana Fuel and Light Company, Inc.
A.72 Northern Indiana Trading Company
<TABLE>
<CAPTION>
A.1 NIPSCO INDUSTRIES, INC.
CONSOLIDATED BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant, At Original Cost
(including construction work in
progress of $197,112):
Electric $4,154,060
Gas 1,447,945
Water 663,355
Common 364,822
----------
6,630,182
Less-Accumulated provision for
depreciation and amortization 2,968,078
----------
Total Utility Plant 3,662,104
----------
Other property, at cost, less accumulated
provision for depreciation 86,565
----------
Total Property, Plant and Equipment 3,748,669
----------
Investments:
Investments, at equity 111,340
Investments, at cost 41,609
Other investments 28,702
----------
Total Investments 181,651
----------
Current Assets:
Cash and cash equivalents 60,848
Accounts receivable, less reserve of $8,984 261,971
Other receivables 31,780
Gas cost adjustment clause 45,738
Materials and supplies, at average cost 62,818
Electric production fuel, at average cost 32,402
Natural gas in storage 69,640
Prepayments and other 41,670
----------
Total Current Assets 606,867
----------
Other Assets:
Regulatory assets 209,059
Intangible assets, less accumulated provision
for amortization 65,039
Prepayments and other 175,218
----------
Total Other Assets 449,316
----------
TOTAL ASSETS $4,986,503
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shareholders' equity $1,149,708
Preferred stocks -
Northern Indiana Public Service Company:
Series without mandatory redemption provisions 81,116
Series with mandatory redemption provisions 56,435
Indianapolis Water Company:
Series without mandatory redemption provisions 4,497
Long-term debt, excluding amounts due within one year 1,667,965
----------
Total Capitalization 2,959,721
----------
Current Liabilities:
Current portion of long-term debt 6,790
Short-term borrowings 411,040
Accounts payable 251,399
Dividends declared on common and preferred stocks 31,072
Customer deposits 22,199
Taxes accrued 44,939
Interest accrued 21,202
Fuel adjustment clause 6,279
Accrued employment costs 52,121
Other 39,022
----------
Total Current Liabilities 886,063
----------
Other:
Deferred income taxes 667,167
Deferred investment tax credits, being
amortized over life of related property 98,177
Deferred credits 68,046
Customer advances and contributions in aid
of construction 118,778
Accrued liability for postretirement benefits 143,870
Other noncurrent liabilities 44,681
----------
Total Other 1,140,719
----------
TOTAL CAPITALIZATION AND LIABILITIES $4,986,503
==========
<CAPTION>
CONSOLIDATED STATEMENT OF CAPITALIZATION
<S> <C>
Common shareholders' equity $1,149,708
----------
Preferred Stocks, Which Are Redeemable Solely
At Option of Issuer:
Northern Indiana Public Service Company
Cumulative preferred stock - $100 par value
4-1/4% series - 209,118 shares outstanding 20,905
4-1/2% series - 79,996 shares outstanding 8,000
4.22% series - 106,198 shares outstanding 10,620
4.88% series - 100,000 shares outstanding 10,000
7.44% series - 41,890 shares outstanding 4,189
7.50% series - 34,842 shares outstanding 3,484
Premium on preferred stock 254
Cumulative preferred stock - no par value -
Adjustable Rate (6.00% at December 31, 1998) -
Series A (stated value - $50 per share),
473,285 shares outstanding 23,664
----------
81,116
----------
Redeemable Preferred Stocks, Subject to Mandatory
Redemption Requirements or Whose Redemption
Is Outside the Control of Issuer:
Northern Indiana Public Service Company -
Cumulative preferred stock - $100 par value -
8.85% series - 50,000 shares outstanding 5,000
7-3/4% series - 33,352 shares outstanding 3,335
8.35% series - 51,000 shares outstanding 5,100
Cumulative preferred stock - no par value -
6.50% series - 430,000 shares outstanding 43,000
Indianapolis Water Company -
Cumulative preferred stock - $100 par value -
Rates ranging from 4.005 to 5.00% -
44,966 shares outstanding 4,497
----------
60,932
----------
Long-term Debt 1,667,965
----------
TOTAL CAPITALIZATION $2,959,721
==========
<CAPTION>
CONSOLIDATED STATEMENT OF LONG-TERM DEBT
<S> <C>
Northern Indiana Public Service Company:
First mortgage bonds -
Series T, 7-1/2% - due April 1, 2002 39,000
Series NN, 7.10% - due July 1, 2017 55,000
----------
Total 94,000
----------
Pollution control notes and bonds -
Series A Note - City of Michigan City -
5.70% due October 1, 2003 16,500
Series 1988 Bonds - Jasper County -
Series A, B and C
3.05% weighted average at December 31, 1998,
due November 1, 2016 130,000
Series 1988 Bonds - Jasper County - Series D
3.13% weighted average at December 31, 1998,
due November 1, 2007 24,000
Series 1994 Bonds - Jasper County - Series A
5.15% at December 31, 1998, due August 1, 2010 10,000
Series 1994 Bonds - Jasper County - Series B
5.15% at December 31, 1998, due June 1, 2013 18,000
Series 1994 Bonds - Jasper County - Series C
5.15% at December 31, 1998, due April 1, 2019 41,000
----------
Total 239,500
----------
Medium-term Notes -
Issued at interest rates between 6.10% and
7.69%, with a weighted average interest
rate of 7.00% and various maturities
between March 20, 2000 and August 4, 2027 748,025
----------
Unamortized premium and discount on
long-term debt, net (3,567)
----------
Total Long-term Debt of
Northern Indiana Public Service Company 1,077,958
----------
Indianapolis Water Company:
First mortgage bonds -
Series 5.20% - due May 1, 2001 11,600
Series 8.00% - due December 15, 2001 3,000
Series 9.83% - due June 15, 2019 5,000
Series 6.10% - due December 1, 2022 5,000
Series 8.19% - due December 1, 2022 10,000
Series 5.85% - due September 1, 2025 18,000
Series 5.05% - due July 15, 2028 40,000
----------
Total Long-term Debt of
Indianapolis Water Company 92,600
----------
IWC Resources Corporation:
Senior Note Payable-6.31% due March 15, 2001 14,000
Variable Bank Loan-6.62% due August 2003 5,600
----------
Total Long-term Debt of
IWC Resources Corporation 19,600
----------
NIPSCO Capital Markets, Inc.:
Subordinated Debentures- Series A,
7.34%,due March 31, 2026 75,000
Senior Notes Payable-6.78%, due December 1, 2027 75,000
Medium-term Notes -
Issued at interest rates between 7.38% and
7.99%, with a weighted average interest
rate of 7.66% and various maturities
between April 1, 2004 and May 5, 2027 300,000
----------
Total Long-Term Debt of
NIPSCO Capital Markets, Inc. 450,000
----------
NIPSCO Development Company, Inc.:
Lake Erie Land Company - Notes Payable -
9.00%, due July 7, 2004 2,533
NDC Douglas Properties, Inc. - Notes Payable -
Interest rates between 6.72% and 8.38% with a
weighted average interest rate of 7.87% and
maturities through January 1, 2008 25,274
----------
Total Long-term Debt of
NIPSCO Development Company, Inc. 27,807
----------
TOTAL LONG-TERM DEBT,
EXCLUDING AMOUNTS DUE IN ONE YEAR $1,667,965
==========
</TABLE>
<TABLE>
<CAPTION>
A.1 NIPSCO INDUSTRIES, INC.
CONSOLIDATED INCOME STATEMENT
December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 637,098
Electric 1,429,986
Water 83,979
Products and Services 781,715
----------
2,932,778
----------
Cost of Sales:
Gas costs 357,939
Fuel for electric generation 250,649
Power purchased 412,949
Products and Services 670,830
----------
1,692,367
----------
Operating Margin 1,240,411
----------
Operating Expenses and Taxes (except income):
Operation 399,594
Maintenance 74,630
Depreciation and amortization 256,474
Taxes (except income) 88,207
----------
818,905
----------
Operating Income 421,506
----------
Other Income (Deductions) 10,584
----------
Interest and Other Charges:
Interest on long-term debt 111,420
Other interest 12,794
Amortization of premium, reacquisition
premium, discount and expense on debt, net 4,590
Dividend requirements on preferred stocks
of subsidiaries 8,538
----------
137,342
----------
Income Taxes 100,862
----------
Net Income 193,886
Dividend Requirements on Preferred Shares 0
----------
Balance Available for Common Shareholders $ 193,886
==========
Average Common Shares Outstanding-Basic 120,778,077
===========
Basic Earnings Per Average Common Share $ 1.60
==========
Diluted Earnings Per Average Common Share $ 1.59
==========
Dividends Declared Per Common Share $ 0.975
==========
</TABLE>
<TABLE>
<CAPTION>
CONSOLIDATED STATEMENT OF COMMON SHAREHOLDERS' EQUITY
December 31, 1998
(Dollars in Thousands)
--------------------------------------
Additional
Common Treasury Paid-In
Shares Shares Capital
============================== ========== ========== ==========
<S> <C> <C> <C>
Balance, December 31, 1997 $ 870,930 $ (363,943) $ 89,768
Comprehensive Income
Net income
Other comprehensive income,
net of tax:
Gain/loss on available
for sale securities:
Unrealized gain (net
of income tax of $873)
Realized gain (net of
income tax of $1,340)
Gain (loss) on foreign
currency translation:
Unrealized
Realized
Total Comprehensive Income
Dividends:
Preferred shares
Common shares
Treasury shares acquired (203,976) 2
Issued:
Employee stock purchase plan 341 889
Long-term incentive plan 8,551 575
Amortization of unearned
compensation
Other 2,947
---------- ---------- ----------
Balance, December 31, 1998 $ 870,930 $ (559,027) $ 94,181
========== ========== ==========
<CAPTION>
(Dollars in Thousands)
--------------------------------------
Accum.
Retained Other Comp.
Earnings Other Income
============================== ========== ========== ==========
<S> <C> <C> <C>
Balance, December 31, 1997 $ 667,790 $ (2,624) $ 2,867
Comprehensive Income
Net income 193,886
Other comprehensive income,
net of tax:
Gain/loss on available
for sale securities:
Unrealized gain (net
of income tax of $873) 1,429
Realized gain (net of
income tax of $1,340) (2,195)
Gain (loss) on foreign
currency translation:
Unrealized (1,157)
Realized 186
Total Comprehensive Income
Dividends:
Preferred shares
Common shares (116,596)
Treasury shares acquired
Issued:
Employee stock purchase plan
Long-term incentive plan (1,084)
Amortization of unearned
compensation 1,893
Other (771)
---------- ---------- ----------
Balance, December 31, 1998 $ 744,309 $ (1,815) $ 1,130
========== ========== ==========
<CAPTION>
(Dollars in Thousands)
------------------------
Comp.
Total Income
============================== ========== ==========
<S> <C> <C>
Balance, December 31, 1997 $1,264,788
Comprehensive Income
Net income 193,886 $ 193,886
Other comprehensive income,
net of tax:
Gain/loss on available
for sale securities:
Unrealized gain (net
of income tax of $873) 1,429 1,429
Realized gain (net of
income tax of $1,340) (2,195) (2,195)
Gain (loss) on foreign
currency translation:
Unrealized (1,157) (1,157)
Realized 186 186
----------
Total Comprehensive Income $ 192,149
==========
Dividends:
Preferred shares
Common shares (116,596)
Treasury shares acquired (203,974)
Issued:
Employee stock purchase plan 1,230
Long-term incentive plan 8,042
Amortization of unearned
compensation 1,893
Other 2,176
----------
Balance, December 31, 1998 $1,149,708
==========
(Dollars in Thousands)
------------------------
Common Treasury
Shares Shares
============================== =========== ===========
<S> <C> <C>
Balance, December 31, 1997 147,784,218 (23,471,554)
Treasury shares acquired (7,309,906)
Issued:
Employee stock purchase plan 42,796
Long-term incentive plan 485,144
Amortization of unearned
compensation
Other
----------- -----------
Balance, December 31, 1998 147,784,218 (30,253,520)
=========== ===========
</TABLE>
<TABLE>
<CAPTION>
A.2 NIPSCO INDUSTRIES MANAGEMENT SERVICES COMPANY
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 648
Other receivables 23
Accounts receivable - associated companies 3,817
----------
Total Current Assets 4,488
----------
Other Property and Investments:
Other property at cost less depreciation 2,171
----------
Total Other Property and Investments 2,171
----------
Other Assets:
Deferred charges and other 36
----------
Total Other Assets 36
----------
$ 6,695
TOTAL ASSETS ==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common Shares without par value $ 1
----------
Total Capitalization 1
----------
Current Liabilities:
Total accounts payable 511
Taxes accrued (59)
Accrued employment costs 2,582
Notes payable to associated companies 3,400
Taxes withheld payables (288)
Miscellaneous accrued liabilities 1,244
----------
Total Current Liabilities 7,390
----------
Other:
Deferred income taxes (696)
----------
Total Other (696)
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 6,695
==========
</TABLE>
<TABLE>
<CAPTION>
A.2 NIPSCO INDUSTRIES MANAGEMENT SERVICES COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.2 NIPSCO INDUSTRIES MANAGEMENT SERVICES COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.3 HAMILTON HARBOUR INSURANCE SERVICES, LTD.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 26
---------
Total Current Assets 26
---------
TOTAL ASSETS $ 26
=========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (3)
----------
Total Capitalization (2)
----------
Current Liabilities:
Notes payable to associated companies 0
----------
Total Current Liabilities 0
----------
Noncurrent Liabilities:
Deferred credits 28
----------
Total Noncurrent Liabilities 28
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 26
==========
</TABLE>
<TABLE>
<CAPTION>
A.3 HAMILTON HARBOUR INSURANCE SERVICES, LTD.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Expenses:
Administrative and general $ 0
----------
Total Operating Expenses 0
----------
Income taxes (1)
----------
NET INCOME (LOSS) $ 1
==========
</TABLE>
<TABLE>
<CAPTION>
A.3 HAMILTON HARBOUR INSURANCE SERVICES, LTD.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at beginning of the year $ (3)
Net Income $ 1
----------
BALANCE AT END OF YEAR $ (2)
==========
</TABLE>
<TABLE>
<CAPTION>
A.4 NI TELECOMM, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.4 NI TELECOMM, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.4 NI TELECOMM, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.5 CROSSROADS PIPELINE COMPANY
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant:
Utility plant $ 34,819
Less-Accumulated provision for
depreciation and amortization (3,823)
----------
Total Utility Plant 30,996
----------
Current Assets:
Cash and cash equivalents 147
Accounts receivable, less reserve 1,158
Prepayments and other 8
----------
Total Current Assets 1,313
----------
TOTAL ASSETS $ 32,309
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (6,759)
----------
Total Capitalization (6,758)
----------
Current Liabilities:
Total accounts payable 1,063
Taxes accrued 263
Notes payable to associated companies 35,450
----------
Total Current Liabilities 36,776
----------
Noncurrent Liabilities:
Deferred income taxes 2,138
Deferred credits 153
----------
Total Noncurrent Liabilities 2,291
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 32,309
==========
</TABLE>
<TABLE>
<CAPTION>
A.5 CROSSROADS PIPELINE COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenue $ 5,149
----------
Cost of Sales:
Other gas operating expenses 70
----------
Total Cost of Sales 70
----------
Operating Margin 5,079
----------
Operating Expenses and Taxes:
Operating expense 1,010
Administrative and general expenses 1,177
Depreciation and amortization 996
Taxes other than income 847
----------
Total Operating Expenses and Taxes 4,031
----------
Other Income (Deductions) 9
----------
Interest and other charges 2,990
----------
Income tax expense (700)
----------
NET INCOME (LOSS) $ (1,232)
==========
</TABLE>
<TABLE>
<CAPTION>
A.5 CROSSROADS PIPELINE COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (5,527)
Net Income (1,232)
----------
BALANCE AT END OF YEAR $ (6,759)
==========
</TABLE>
<TABLE>
<CAPTION>
A.6 NIPSCO CAPITAL MARKETS, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 108
Accounts receivable - associated companies 16
Notes receivable - associated companies 659,428
Prepayments 731
----------
Total Current Assets 660,283
----------
Other Assets:
Deferred charges and other 5,271
----------
Total Other Assets 5,271
----------
TOTAL ASSETS $ 665,554
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1,000
Retained earnings 10,235
Long-term debt bonds 75,000
Long-term debt other 375,000
----------
Total Capitalization 461,235
----------
Current Liabilities:
Commercial paper 108,100
Notes payable 86,750
Total accounts payable (344)
Taxes accrued 2,139
Interest accrued 7,674
----------
Total Current Liabilities 204,319
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 665,554
==========
</TABLE>
<TABLE>
<CAPTION>
A.6 NIPSCO CAPITAL MARKETS, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 0
----------
Total Operating Revenues 0
----------
Operating Expenses and Taxes:
Administrative and general expenses 331
Taxes other than income 0
----------
Total Operating Expenses 331
----------
Other Income (Deductions):
Interest income 45,923
----------
Total Other Income (Deductions) 45,923
----------
Interest and other charges 39,950
----------
Income tax expense 2,141
----------
NET INCOME (LOSS) $ 3,501
==========
</TABLE>
<TABLE>
<CAPTION>
A.6 NIPSCO CAPITAL MARKETS, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 6,734
Net Income 3,501
----------
BALANCE AT END OF YEAR $ 10,235
==========
</TABLE>
<TABLE>
<CAPTION>
A.7 NEM ACQUISITION CORPORATION
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Accounts receivable - associated companies $ 170
----------
Total Current Assets 170
----------
Property and Investments:
Investments at equity 60
----------
Total Other Property and Investments 60
----------
Other Assets:
Deferred charges and other 5,214
----------
Total Other Assets 5,214
----------
TOTAL ASSETS $ 5,444
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (395)
----------
Total Capitalization (394)
----------
Current Liabilities:
Accounts payable 5,713
Taxes accrued 208
----------
Total Current Liabilities 5,921
----------
Noncurrent Liabilities
Deferred income taxes (83)
----------
Total Noncurrent Liabilities (83)
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 5,444
==========
</TABLE>
<TABLE>
<CAPTION>
A.7 NEM ACQUISITION CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 0
----------
Total Operating Revenues 0
----------
Operating Expenses and Taxes:
Depreciation and amortization 286
----------
Total Operating Expenses and Taxes 286
----------
Other Income (Deductions):
Investment income (loss) 547
----------
Total Other Income (Deductions) 547
----------
Income tax expense 219
----------
NET INCOME (LOSS) $ 42
==========
</TABLE>
<TABLE>
<CAPTION>
A.7 NEM ACQUISITION CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (437)
Net Income (Loss) 42
----------
BALANCE AT END OF YEAR $ (395)
==========
</TABLE>
<TABLE>
<CAPTION>
A.8 IWC RESOURCES CORPORATION
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant:
Utility plant $ 157,254
Less-Accumulated provision for
depreciation and amortization (6,837)
----------
Total Utility Plant 150,417
----------
Current Assets:
Cash and cash equivalents 531
Special funds 11
Other accounts receivable 148
Accounts receivable - associated companies 12,574
Prepayments (155)
----------
Total Current Assets 13,109
----------
Other Property and Investments:
Other property at cost less depreciation 90
Investments at equity 156,366
Other investments 28
----------
Total Other Property and Investments 156,484
----------
Other Assets:
Deferred charges and other 59,991
----------
Total Other Assets
59,991 ----------
TOTAL ASSETS $ 380,001
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 291,589
Retained earnings 19,458
Long-term debt other 19,600
----------
Total Capitalization 330,647
----------
Current Liabilities:
Obligations due within one year 1,000
Accounts payable 25,737
Taxes accrued (355)
Interest accrued 335
Accrued employment costs 2,202
Taxes withheld payables (35)
Miscellaneous accrued liabilities 39
----------
Total Current Liabilities 28,923
----------
Noncurrent Liabilities:
Deferred income taxes (570)
Deferred credits 20,976
Postretirement benefits accrued 25
----------
Total Noncurrent Liabilities 20,431
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 380,001
==========
</TABLE>
<TABLE>
<CAPTION>
A.8 IWC RESOURCES CORPORATION
INCOME STATEMENT
For the Year Ended December 31,1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 101
----------
Total Operating Revenues 101
----------
Operating Expenses and Taxes (except income):
Administrative and general expenses 4,909
Depreciation and amortization 6,856
Taxes other than income 79
----------
Total Operating Expenses and Taxes (except income) 11,844
----------
Other Income (Deductions):
Total other income & deductions (615)
Non-operating income 22
----------
Total Other Income (Deductions) (593)
----------
Interest and other charges 1,272
----------
Income tax expense (3,007)
----------
Net Income (Loss) before subsidiaries (10,601)
----------
Subsidiary gain (loss) 21,454
----------
NET INCOME (LOSS) $ 10,853
==========
</TABLE>
<TABLE>
<CAPTION>
A.8 IWC RESOURCES CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 8,605
Net Income 10,853
----------
BALANCE AT END OF YEAR $ 19,458
==========
</TABLE>
<TABLE>
<CAPTION>
A.9 INDIANAPOLIS WATER COMPANY
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant:
Utility plant $ 498,398
Less-Accumulated provision for
depreciation and amortization (100,196)
----------
Total Utility Plant 398,202
----------
Current Assets:
Cash and cash equivalents 1,608
Special funds 66
Customer accounts receivable 9,565
Other accounts receivable 59
Reserve - customer accounts (188)
Accounts receivable - associated companies 16,546
Material and supplies at average cost 6,824
Prepayments 355
----------
Total Current Assets 34,835
----------
Other Property and Investments:
Other property at cost 42
----------
Total Other Property and Investments 42
----------
Other Assets:
Deferred charges and other 20,565
----------
Total Other Assets 20,565
----------
TOTAL ASSETS $ 453,644
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 17,004
Additional paid-in-capital 37,913
Retained earnings 53,664
Preferred stock-without mandatory redemption 4,294
Long-term debt other 92,600
----------
Total Capitalization 205,475
----------
Current Liabilities:
Obligations due within one year 77,423
Total accounts payable 7,100
Dividends declared 0
Customer deposits 1,255
Taxes accrued 6,628
Interest accrued 1,751
Accrued employment costs 1,023
Other accruals 236
Taxes withheld payables (241)
Miscellaneous accrued liabilities 1,526
----------
Total Current Liabilities 96,701
----------
Noncurrent Liabilities:
Deferred income taxes 35,068
Deferred investment tax credits amortized 4,397
Deferred credits 56,878
Postretirement accrued benefits 10,640
Other non-current liabilities 44,485
----------
Total Noncurrent Liabilities 151,468
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 453,644
==========
</TABLE>
<TABLE>
<CAPTION>
A.9 INDIANAPOLIS WATER COMPANY
INCOME STATEMENT
For the Year Ended December 31,1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Water revenue $ 83,087
----------
Total Operating Revenues 83,087
----------
Cost of Sales:
Cost of goods sold 1
----------
Total Cost of Goods Sold 1
----------
Operating Margin 83,086
----------
Operating Expenses and Taxes (except income):
Operation 27,713
Administrative and general expenses 14,342
Depreciation and amortization 7,534
Taxes (except income) 7,051
----------
Total Operating Expenses and Taxes (except income) 56,640
----------
Other Income (Deductions):
Job work sales - net 96
Total other income & deductions (6)
Non-operating income 622
----------
Total Other Income (Deductions) 712
----------
Interest and other charges 7,288
----------
Income tax expense 7,249
----------
NET INCOME (LOSS) $ 12,621
==========
</TABLE>
<TABLE>
<CAPTION>
A.9 INDIANAPOLIS WATER COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 41,043
Net Income 12,621
----------
BALANCE AT END OF YEAR $ 53,664
==========
</TABLE>
<TABLE>
<CAPTION>
A.10 HARBOUR WATER CORPORATION
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant:
Utility plant $ 7,270
Less-Accumulated provision for
depreciation and amortization (1,338)
----------
Total Utility Plant 5,932
----------
Current Assets:
Cash and cash equivalents 0
Customer accounts receivable 100
Reserve - customer accounts 0
Accounts receivable-associated companies 317
----------
Total Current Assets 417
----------
Other Property and Investments:
Deferred charges and other 201
----------
Total Other Assets 201
----------
TOTAL ASSETS $ 6,550
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 400
Retained earnings 1,958
----------
Total Capitalization 2,358
----------
Current Liabilities:
Total accounts payable 383
Customer deposits 5
Taxes accrued 129
Interest accrued 1
Taxes withheld payables 4
----------
Total Current Liabilities 522
----------
Noncurrent Liabilities:
Deferred income taxes 277
Deferred investment tax credits 48
Deferred credits 2,245
Other non-current liabilities 1,100
----------
Total Noncurrent Liabilities 3,670
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 6,550
==========
</TABLE>
<TABLE>
<CAPTION>
A.10 HARBOUR WATER CORPORATION
INCOME STATEMENT
For the Year Ended December 31,1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Water revenue $ 986
----------
Total Operating Revenues 986
----------
Operating Expenses and Taxes (except income):
Operations 313
Administrative and general expenses 127
Depreciation and amortization 120
Taxes except income 90
----------
Total Operating Expenses and Taxes (except income) 650
----------
Income tax expense 142
----------
NET INCOME (LOSS) $ 194
==========
</TABLE>
<TABLE>
<CAPTION>
A.10 HARBOUR WATER CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 1,764
Net Income 194
----------
BALANCE AT END OF YEAR $ 1,958
==========
</TABLE>
<TABLE>
<CAPTION>
A.11 LIBERTY WATER CORPORATION
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant:
Utility plant $ 1,319
Less-Accumulated provision for
depreciation and amortization (35)
----------
Total Utility Plant 1,284
----------
Current Assets:
Cash and cash equivalents 5
Customer accounts receivable 21
----------
Total Current Assets 26
----------
Other Property and Investments:
Other property at cost less depreciations 91
----------
Total Other Property and Investments 91
----------
Other Assets:
Deferred charges and other 291
----------
Total Other Asset 291
----------
TOTAL ASSETS $ 1,692
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 233
Retained earnings (29)
----------
Total Capitalization 204
----------
Current Liabilities:
Total Obligations due in one year 1,157
Total accounts payable 186
Customer deposits 0
Taxes accrued (6)
Interest accrued 7
Taxes withheld payables 0
----------
Total Current Liabilities 1,344
----------
Noncurrent Liabilities:
Deferred credits 13
Other non-current liabilities 131
----------
Total Noncurrent Liabilities 144
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 1,692
==========
</TABLE>
<TABLE>
<CAPTION>
A.11 LIBERTY WATER CORPORATION
INCOME STATEMENT*
For the Year Ended December 31,1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Water revenue $ 24
----------
Total Operating Revenues 24
----------
Operating Expenses and Taxes (except income):
Operations 1
Administrative and general expenses 8
Depreciation and amortization 25
Taxes except income 0
----------
Total Operating Expenses and Taxes (except income) 34
----------
Other Income (Deductions):
Interest and other charges 34
----------
Income tax expense (15)
----------
NET INCOME (LOSS) $ (29)
==========
*Income statement reflects activity for September 1998 through December 1998.
</TABLE>
<TABLE>
<CAPTION>
A.11 LIBERTY WATER CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 0
Net Income* $ (29)
----------
BALANCE AT END OF YEAR $ (29)
==========
*Net income is for September 1998 through December 1998.
</TABLE>
<TABLE>
<CAPTION>
A.12 UTILITY DATA CORPORATION
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 38
Customer accounts receivable 271
Other accounts receivable 2
Accounts receivable - associated companies 9,563
Prepayments 293
----------
Total Current Assets 10,167
----------
Other Property and Investments:
Other property at cost less depreciation 398
----------
Total Other Property and Investments 398
----------
TOTAL ASSETS $ 10,565
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 154
Retained earnings 7,734
----------
Total Capitalization 7,888
----------
Current Liabilities:
Total accounts payable 1,001
Taxes accrued 68
Accrued employment costs 817
Taxes withheld payables 0
Miscellaneous accrued liabilities 188
----------
Total Current Liabilities 2,074
----------
Noncurrent Liabilities:
Deferred income taxes (723)
Deferred credits 259
Postretirement benefits accrued 1,067
----------
Total Noncurrent Liabilities 603
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 10,565
==========
</TABLE>
<TABLE>
<CAPTION>
A.12 UTILITY DATA CORPORATION
INCOME STATEMENT
For the Year Ended December 31,1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 7,882
----------
Total Operating Revenues 7,882
----------
Operating Expenses and Taxes (except income):
Operation 198
Administrative and general expenses 5,390
Depreciation and amortization 150
Taxes (except income) 241
----------
Total Operating Expenses and Taxes (except income) 5,978
----------
Interest and other charges 11
----------
Income tax expense 717
----------
NET INCOME (LOSS) $ 1,176
==========
</TABLE>
<TABLE>
<CAPTION>
A.12 UTILITY DATA CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 6,558
Net Income 1,176
----------
BALANCE AT END OF YEAR $ 7,734
==========
</TABLE>
<TABLE>
<CAPTION>
A.13 IWC SERVICES, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Customer accounts receivable $ 11
Accounts receivable - associated companies 250
----------
Total Current Assets 261
----------
Other Assets:
Deferred charges and other 4,173
----------
Total Other Assets 4,173
----------
TOTAL ASSETS $ 4,434
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 50
Retained earnings 3,135
----------
Total Capitalization 3,185
----------
Current Liabilities:
Total accounts payable 671
Taxes accrued 59
----------
Total Current Liabilities 730
----------
Noncurrent Liabilities:
Deferred income taxes 283
Deferred credits 236
----------
Total Noncurrent Liabilities 519
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 4,434
==========
</TABLE>
<TABLE>
<CAPTION>
A.13 IWC SERVICES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 149
----------
Total Operating Revenues 149
----------
Cost of Sales:
Cost of goods sold 149
----------
Total Cost of Sales 149
----------
Operating Expenses and Taxes (except income):
Administrative and general expenses 19
Taxes other than income 21
----------
Total Operating Expenses and Taxes (except income) 40
----------
Other Income (Deductions):
Investment income (loss) 1,573
Income tax expense 582
----------
NET INCOME (LOSS) $ 951
==========
</TABLE>
<TABLE>
<CAPTION>
A.13 IWC SERVICES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 2,135
Net Income 951
----------
BALANCE AT END OF YEAR $ 3,135
==========
</TABLE>
<TABLE>
<CAPTION>
A.14 WHITE RIVER ENVIRONMENTAL PARTNERSHIP
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.14 WHITE RIVER ENVIRONMENTAL PARTNERSHIP
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.14 WHITE RIVER ENVIRONMENTAL PARTNERSHIP
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.15 WATERWAY HOLDINGS, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Special funds $ 9,892
Other accounts receivable 1,328
Accounts receivable - associated companies 135
----------
Total Current Assets 11,355
----------
TOTAL ASSETS $ 11,355
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 4,750
Retained earnings 2,833
----------
Total Capitalization 7,583
----------
Current Liabilities:
Total accounts payable 3,068
Taxes accrued 14
----------
Total Current Liabilities 3,082
----------
Noncurrent Liabilities:
Deferred income taxes 190
Deferred credits 500
----------
Total Noncurrent Liabilities 690
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 11,355
==========
</TABLE>
<TABLE>
<CAPTION>
A.15 WATERWAY HOLDINGS, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 2,885
----------
Total Operating Revenues 2,885
----------
Cost of Sales:
Cost of land sales 961
----------
Total Cost of Sales 961
----------
Operating Margin 1,924
----------
Operating Expenses and Taxes (except income):
Administrative and general expenses 2
Taxes except income 60
----------
Total Operating Expenses and Taxes (except income) 62
----------
Other Income (Deductions) 110
----------
Total Other Income (Deductions) 110
----------
Interest and other charges 17
----------
Income tax expense 744
----------
NET INCOME (LOSS) $ 1,211
==========
</TABLE>
<TABLE>
<CAPTION>
A.15 WATERWAY HOLDINGS, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 1,622
Net Income 1,211
----------
BALANCE AT END OF YEAR $ 2,833
==========
</TABLE>
<TABLE>
<CAPTION>
A.16 SM&P UTILITY RESOURCES, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 3
Customer accounts receivable 8,698
Other accounts receivable 103
Prepayments 179
----------
Total Current Assets 8,983
----------
Other Property and Investments:
Other property at cost less depreciation 5,329
----------
Total Other Property and Investments 5,329
----------
Other Assets:
Deferred charges and other 18
----------
Total Other Assets 18
----------
TOTAL ASSETS $ 14,330
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 4,636
----------
Total Capitalization 4,637
----------
Current Liabilities:
Obligation due with one year 775
Total accounts payable 4,730
Taxes accrued 211
Other accruals 3,838
Taxes withheld payables 39
Miscellaneous accrued liabilities 815
----------
Total Current Liabilities 10,408
----------
Noncurrent Liabilities:
Deferred income taxes (715)
----------
Total Noncurrent Liabilities (715)
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 14,330
==========
</TABLE>
<TABLE>
<CAPTION>
A.16 SM&P UTILITY RESOURCES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
Dollars in Thousands)
<S> <C>
Operating Revenues:
Locate revenue $ 65,717
----------
Total Operating Revenues 65,717
----------
Cost of Sales:
Cost of sales 43,536
----------
Total Cost of Sales 43,536
----------
Operating Margin 22,181
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 15,350
Depreciation and amortization 2,160
Taxes (except income) 990
----------
Total Operating Expenses and Taxes (Except Income) 18,500
----------
Other Income (Deductions) 39
----------
Interest and other charges 220
----------
Income tax expense 1,479
----------
NET INCOME (LOSS) $ 2,021
==========
</TABLE>
<TABLE>
<CAPTION>
A.16 SM&P UTILITY RESOURCES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 2,615
Net Income 2,021
----------
BALANCE AT END OF YEAR $ 4,636
==========
</TABLE>
<TABLE>
<CAPTION>
A.17 MILLER PIPELINE CORPORATION
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 105
Customer accounts receivable 10,110
Other accounts receivable 506
Reserve-customer accounts (75)
Material and supplies at average cost 998
Prepayments 181
Job work in progress 2,402
----------
Total Current Assets 14,227
----------
Other Property and Investments:
Other property at cost less depreciation 22,639
----------
Total Other Property and Investments 22,639
----------
TOTAL ASSETS $ 36,866
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Additional paid-in-capital $ 10,939
Retained earnings 11,194
----------
Total Capitalization 22,133
----------
Current Liabilities:
Obligations due within one year 3,696
Total accounts payable 5,035
Taxes accrued (22)
Accrued employment costs 1,289
Other accruals 369
Taxes withheld payables 112
----------
Total Current Liabilities 10,479
----------
Noncurrent Liabilities:
Deferred income taxes 4,254
----------
Total Noncurrent Liabilities 4,254
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 36,866
==========
</TABLE>
<TABLE>
<CAPTION>
A.17 MILLER PIPELINE CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Pipeline construction revenue $ 61,578
----------
Total Operating Revenues 61,578
----------
Cost of Sales:
Pipeline construction expense 48,678
----------
Total Cost of Sales 48,678
----------
Operating Margin 12,900
----------
Operating Expenses and Taxes (Except Income):
Operation 856
Administrative and general expenses 3,473
Depreciation and amortization 2,821
Taxes (except income) 787
----------
Total Operating Expenses and Taxes (Except Income) 7,937
----------
Other Income (Deductions) 912
----------
Interest and other charges 99
----------
Income tax expense 2,264
----------
NET INCOME (LOSS) $ 3,512
==========
</TABLE>
<TABLE>
<CAPTION>
A.17 MILLER PIPELINE CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 7,682
Net Income 3,512
----------
BALANCE AT END OF YEAR $ 11,194
==========
</TABLE>
<TABLE>
<CAPTION>
A.18 PRIMARY ENERGY, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 37
Other accounts receivable 4,576
Accounts receivable - associated companies 74
Notes receivable - associated companies 10,951
----------
Total Current Assets 15,638
----------
Other Property and Investments:
Other property at cost less depreciation 51
Investments at equity 6,220
Investments at cost 3,000
----------
Total Other Property and Investments 9,271
----------
Other Assets:
Deferred charges and other 234
----------
Total Other Assets 234
----------
TOTAL ASSETS $ 25,143
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 22,248
----------
Total Capitalization 22,249
----------
Current Liabilities:
Total accounts payable 144
Taxes accrued 376
Accrued employment costs 1,127
Taxes withheld payables (62)
----------
Total Current Liabilities 1,585
----------
Noncurrent Liabilities:
Deferred income taxes 1,309
Deferred credits 0
----------
Total Noncurrent Liabilities 1,309
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 25,143
==========
</TABLE>
<TABLE>
<CAPTION>
A.18 PRIMARY ENERGY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 4,659
----------
Total Operating Revenue 4,659
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 3,731
Depreciation and amortization 22
Taxes (except income) 125
----------
Total Operating Expenses and Taxes (Except Income) 3,878
----------
Other Income (Deductions) 182
----------
Interest and other charges 105
----------
Income tax expense 329
----------
Income (Loss) before subsidiaries 529
----------
Subsidiary gain (loss) 10,684
----------
NET INCOME (LOSS) $ 11,213
==========
</TABLE>
<TABLE>
<CAPTION>
A.18 PRIMARY ENERGY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at beginning of year $ 11,035
Net Income 11,213
----------
BALANCE AT END OF YEAR $ 22,248
==========
</TABLE>
<TABLE>
<CAPTION>
A.19 HARBOR COAL COMPANY
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 52
Accounts receivable - associated companies 490
Prepayments 21
----------
Total Current Assets 563
----------
Other Property and Investments:
Investments at equity (2,172)
----------
Total Other Property and Investments (2,172)
----------
TOTAL ASSETS $ (1,609)
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 3,008
Dividends: common shares (3,724)
----------
Total Capitalization (715)
----------
Current Liabilities:
Total accounts payable 491
Taxes accrued 774
Notes payable to associated companies 1,559
----------
Total Current Liabilities 2,824
----------
Noncurrent Liabilities:
Deferred income taxes (3,718)
----------
Total Noncurrent Liabilities (3,718)
----------
TOTAL CAPITALIZATION AND LIABILITIES $ (1,609)
==========
</TABLE>
<TABLE>
<CAPTION>
A.19 HARBOR COAL COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 0
----------
Total Operating Revenues 0
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 108
Taxes (except income) 26
----------
Total Operating Expenses and Taxes (Except Income) 134
----------
Other Income (Deductions) 2,116
----------
Interest and other charges 3
----------
Income tax expense 739
----------
NET INCOME (LOSS) $ 1,240
==========
</TABLE>
<TABLE>
<CAPTION>
A.19 HARBOR COAL COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 1,768
Net Income 1,240
Dividends declared common (3,724)
----------
BALANCE AT END OF YEAR $ (716)
==========
</TABLE>
<TABLE>
<CAPTION>
A.20 LAKESIDE ENERGY CORPORATION
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
ASSETS
Current Assets:
Cash and cash equivalents $ 13
Other accounts receivable 3,289
Accounts receivable-associated companies 2
Prepayments 54
----------
Total Current Assets 3,358
----------
Other Assets:
Deferred charges and other 13,386
----------
Total Other Assets 13,386
----------
TOTAL ASSETS $ 16,744
==========
CAPITALIZATION AND LIABILITIES
Capitalization:
Common shares without par value $ 1
Retained earnings 3,732
----------
Total Capitalization 3,733
----------
Current Liabilities:
Total accounts payable 3
Taxes accrued (1,082)
Notes payable to associated companies 10,252
----------
Total Current Liabilities 9,173
----------
Noncurrent Liabilities:
Deferred income taxes 3,838
----------
Total Noncurrent Liabilities 3,838
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 16,744
==========
</TABLE>
<TABLE>
<CAPTION>
A.20 LAKESIDE ENERGY CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 12,664
----------
Total Operating Revenues 12,664
----------
Operating Expenses and Taxes (Except Income):
Lease expense 8,363
Administrative and general expenses 745
Taxes (except income) 105
----------
Total Operating Expenses and Taxes (Except Income) 9,213
----------
Other Income (Deductions) 156
----------
Interest and other charges 862
----------
Income tax expense 1,040
----------
NET INCOME (LOSS) $ 1,705
==========
</TABLE>
<TABLE>
<CAPTION>
A.20 LAKESIDE ENERGY CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 2,027
Net Income 1,705
----------
BALANCE AT END OF YEAR $ 3,732
==========
</TABLE>
<TABLE>
<CAPTION>
A.21 NORTH LAKE ENERGY CORPORATION
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 11
Other accounts receivable 1,380
Accounts receivable - associated companies 727
Notes receivable - associated companies 293
Prepayments 31
----------
Total Current Assets 2,442
----------
TOTAL ASSETS $ 2,442
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 6,751
Dividends: common shares (9,535)
----------
Total Capitalization (2,783)
----------
Current Liabilities:
Total accounts payable 822
Taxes accrued (147)
----------
Total Current Liabilities 675
----------
Noncurrent Liabilities:
Deferred income taxes 4,550
----------
Total Noncurrent Liabilities 4,550
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 2,442
==========
</TABLE>
<TABLE>
<CAPTION>
A.21 NORTH LAKE ENERGY CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 7,920
---------
Total Operating Revenue 7,920
---------
Operating Expenses and Taxes (Except Income):
Lease expense 2,543
Administrative and general expenses 587
Taxes (except income) 753
---------
Total Operating Expenses and Taxes (except income) 3,883
---------
Other Income (Deductions) 488
---------
Income tax expense 1,715
---------
NET INCOME (LOSS) $ 2,810
=========
</TABLE>
<TABLE>
<CAPTION>
A.21 NORTH LAKE ENERGY CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance beginning of year $ 3,941
Net Income 2,810
Dividends declared common (9,535)
---------
BALANCE AT END OF YEAR $ (2,784)
=========
</TABLE>
<TABLE>
<CAPTION>
A.22 PORTSIDE ENERGY CORPORATION
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 552
Other accounts receivable 1,127
Accounts receivable-associated companies 2
Material and supplies at average cost 41
Notes receivable - associated companies 1,102
Prepayments 50
----------
Total Current Assets 2,874
----------
Other Property and Investments:
Other property at cost less depreciation 8
----------
Total Other Property and Investments 8
----------
Other Assets:
Deferred charges and other 2,117
----------
Total Other Assets 2,117
----------
TOTAL ASSETS $ 4,999
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common Shares without par value $ 2
Retained earnings 2,709
----------
Total Capitalization 2,711
----------
Current Liabilities:
Total accounts payable 11
Taxes accrued (1,168)
----------
Total Current Liabilities (1,157)
----------
Noncurrent Liabilities:
Deferred income taxes 3,445
----------
Total Noncurrent Liabilities 3,445
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 4,999
==========
</TABLE>
<TABLE>
<CAPTION>
A.22 PORTSIDE ENERGY CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 10,405
---------
Total Operating Revenue 10,405
---------
Operating Expenses and Taxes (Except Income):
Lease expense 5,373
Administrative and general expenses 2,175
Depreciation and amortization 2
Taxes (except income) 235
---------
Total Operating Expenses and Taxes (except income) 7,785
---------
Other Income (Deductions) 14
---------
Interest and other charges 43
---------
Income tax expense 935
---------
NET INCOME (LOSS) $ 1,656
=========
</TABLE>
<TABLE>
<CAPTION>
A.22 PORTSIDE ENERGY CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance beginning of year $ 1,053
Net Income 1,656
---------
BALANCE AT END OF YEAR $ 2,709
=========
</TABLE>
<TABLE>
<CAPTION>
A.23 COKENERGY, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 10
Other receivables 3,215
Other receivables 31,780
Notes receivable-associated companies 3,420
Prepayments 83
----------
Total Current Assets 38,508
----------
$ 38,508
TOTAL ASSETS ==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common Shares without par value $ 1
Retained earnings 3,273
----------
Total Capitalization 3,274
----------
Current Liabilities:
Total accounts payable 2,457
Customer deposits 30,691
Taxes accrued 790
----------
Total Current Liabilities 33,938
----------
Noncurrent Liabilities:
Deferred income taxes 1,296
----------
Total Noncurrent Liabilities 1,296
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 38,508
==========
</TABLE>
<TABLE>
<CAPTION>
A.23 COKENERGY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 7,280
---------
Total Operating Revenue 7,280
---------
Operating Expenses and Taxes (Except Income):
Lease expense 938
Administrative and general expenses 166
Taxes (except income) 88
---------
Total Operating Expenses and Taxes (except income) 1,192
---------
Other Income (Deductions) 0
---------
Interest and other charges 816
---------
Income tax expense 1,999
---------
NET INCOME (LOSS) $ 3,273
=========
</TABLE>
<TABLE>
<CAPTION>
A.23 COKENERGY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance beginning of year $ 0
Net Income 3,273
---------
BALANCE AT END OF YEAR $ 3,273
=========
</TABLE>
<TABLE>
<CAPTION>
A.24 IRONSIDE ENERGY CORPORATION
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.24 IRONSIDE ENERGY CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.24 IRONSIDE ENERGY CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.25 OILSIDE ENERGY CORPORATION
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.25 OILSIDE ENERGY CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.25 OILSIDE ENERGY CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.26 NORTHERN INDIANA PUBLIC SERVICE COMPANY
CONSOLIDATED BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant, At Original Cost (Including
Construction Work in Progress of $149,426:
Electric $4,154,060
Gas 1,272,482
Common 364,823
---------
5,791,365
Less-Accumulated provision for
depreciation and amortization 2,804,720
----------
Total Utility Plant 2,986,645
----------
Other Property and Investments 519
----------
Current Assets:
Cash and cash equivalents 19,541
Accounts receivable, less reserve of $4,458 104,445
Gas cost adjustment clause 44,044
Materials and supplies at average cost 51,554
Electric production fuel, at average cost 32,402
Natural gas in storage, at last-in, first-out cost 50,859
Prepayments and other 31,056
----------
Total Current Assets 333,901
----------
Other Assets:
Regulatory assets 203,722
Prepayments and other 127,162
----------
Total Other Assets 330,884
----------
TOTAL ASSETS $3,651,949
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shareholder's equity $1,018,150
Preferred stocks -
Series without mandatory redemption provisions 81,116
Series with mandatory redemption provisions 56,435
Long-term debt 1,077,959
----------
Total Capitalization 2,233,660
----------
Current Liabilities:
Current portion of long-term debt 2,000
Short-term borrowings 126,100
Accounts payable 142,414
Dividends declared on common and preferred stocks 63,101
Customer deposits 20,178
Taxes accrued 88,401
Interest accrued 9,118
Fuel adjustment clause 6,279
Accrued employment costs 44,223
Other accruals 28,546
----------
Total Current Liabilities 530,360
----------
Other:
Deferred income taxes 608,935
Deferred investment tax credits, being
amortized over life of related property 92,693
Deferred credits 48,084
Accrued liability for postretirement benefits 127,115
Other noncurrent liabilities 11,102
----------
Total Other 887,929
----------
TOTAL CAPITALIZATION AND LIABILITIES $3,651,949
==========
<CAPTION>
CONSOLIDATED STATEMENT OF CAPITALIZATION
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Common Shareholder's Equity:
Common shares - without par value - authorized
75,000,000 shares - issued and outstanding
73,282,258 shares $ 859,488
Additional paid-in capital 12,524
Retained earnings 146,138
----------
Total Common Shareholder's Equity 1,018,150
----------
Preferred Stocks, Which Are Redeemable
Solely at Option of Northern Indiana
Public Service Company:
Cumulative preferred stock - $100 par value -
4-1/4% series - 209,051 shares outstanding 20,905
4-1/2% series - 79,996 shares outstanding 8,000
4.22% series - 106,198 shares outstanding 10,620
4.88% series - 100,000 shares outstanding 10,000
7.44% series - 41,890 shares outstanding 4,189
7.50% series - 34,842 shares outstanding 3,484
Premium on preferred stock 254
Cumulative preferred stock - no par value
Adjustable Rate (6.00% at December 31, 1998) -
Series A (stated value - $50 per share),
473,285 shares outstanding 23,664
----------
81,116
----------
Redeemable Preferred Stocks, Subject to
Mandatory Redemption Requirements or
Whose Redemption Is Outside the Control of
Northern Indiana Public Service Company:
Cumulative preferred stock - $100 par value -
8.85% series - 50,000 shares outstanding 5,000
7-3/4% series - 33,352 shares outstanding 3,335
8.35% series - 51,000 shares outstanding 5,100
Cumulative preferred stock - no par value -
6.50% series - 430,000 shares outstanding 43,000
----------
56,435
----------
Long-term Debt, excluding amounts due within one year 1,077,959
----------
TOTAL CAPITALIZATION $2,233,660
==========
<CAPTION>
CONSOLIDATED STATEMENT OF LONG-TERM DEBT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
First Mortgage Bonds -
Series T, 7-1/2% - due April 1, 2002 $ 39,000
Series NN, 7.10% - due July 1, 2017 55,000
----------
94,000
----------
Pollution Control Notes and Bonds -
Series A Note - City of Michigan City -
5.70% due October 1, 2003 16,500
Series 1988 Bonds - Jasper County -
Series A, B, and C,
3.05% weighted average at December 31, 1998,
due November 1, 2016 130,000
Series 1988 Bonds - Jasper County - Series D,
3.13% weighted average at December 31, 1998,
due November 1, 2007 24,000
Series 1994 Bonds - Jasper County - Series A,
5.15% at December 31, 1998, due August 1, 2010 10,000
Series 1994 Bonds - Jasper County - Series B,
5.15% at December 31, 1998, due June 1, 2013 18,000
Series 1994 Bonds - Jasper County - Series C,
5.15% at December 31, 1997, due April 1, 2019 41,000
----------
239,500
----------
Medium-term Notes -
Interest rates between 6.10% and 7.69%, with a
weighted average interest rate of 7.00% with
various maturities between March 20, 2000 and
August 4, 2027 748,025
----------
Unamortized premium and discount on long-term
debt, net (3,566)
----------
TOTAL LONG-TERM DEBT, EXCLUDING
AMOUNTS DUE WITHIN ONE YEAR $1,077,959
==========
</TABLE>
<TABLE>
<CAPTION>
A.26 NORTHERN INDIANA PUBLIC SERVICE COMPANY
CONSOLIDATED STATEMENT OF INCOME
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 572,485
Electric 1,076,118
----------
1,648,603
----------
Cost of Energy:
Gas costs 321,033
Fuel for electric generation 250,649
Power purchased 41,990
----------
613,672
----------
Operating Margin 1,034,931
----------
Operating Expenses and Taxes (except income):
Operation 245,920
Maintenance 65,302
Depreciation and amortization 228,547
Taxes (except income) 72,227
----------
611,996
----------
Operating Income Before Utility Income Taxes 422,935
----------
Utility Income Taxes 120,786
----------
Operating Income 302,149
----------
Other Income (Deductions) (3,589)
----------
Interest:
Interest on long-term debt 69,672
Other interest 5,087
Allowance for borrowed funds used during
construction and carrying charges (563)
Amortization of premium, reacquisition
premium, discount, and expense on debt, net 4,184
----------
78,380
----------
Net Income 220,180
Dividend Requirements on Preferred Stocks 8,335
----------
Balance Available for Common Shares $ 211,845
==========
Common Dividends Declared $ 212,000
==========
</TABLE>
<TABLE>
<CAPTION>
A.26 NORTHERN INDIANA PUBLIC SERVICE COMPANY
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 146,293
Net Income 220,180
Dividends on cumulative preferred stock (8,335)
Common shares dividends (212,000)
----------
Balance at End of Year $ 146,138
==========
</TABLE>
<TABLE>
<CAPTION>
A.27 NIPSCO EXPLORATION COMPANY, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 268
Accounts receivable - associated companies 2,304
----------
Total Current Assets 2,572
----------
TOTAL ASSETS $ 2,572
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1,400
Retained earnings 974
----------
Total Capitalization 2,374
----------
Current Liabilities:
Total accounts payable 61
Taxes accrued 20
Notes payable to associated companies 133
----------
Total Current Liabilities 214
----------
Noncurrent Liabilities:
Deferred income taxes (16)
----------
Total Noncurrent Liabilities (16)
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 2,572
==========
</TABLE>
<TABLE>
<CAPTION>
A.27 NIPSCO EXPLORATION COMPANY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 64
----------
Total Revenues 64
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 13
----------
Total Operating Expenses and Taxes (Except Income) 13
----------
Other Income (Deductions) 12
----------
Interest and other charges 10
----------
Income tax expense 21
----------
NET INCOME (LOSS) $ 32
==========
</TABLE>
<TABLE>
<CAPTION>
A.27 NIPSCO EXPLORATION COMPANY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 942
Net Income 32
----------
BALANCE AT END OF YEAR $ 974
==========
</TABLE>
<TABLE>
<CAPTION>
A.28 SHORE LINE SHOPS, INCORPORATED
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 101
Accounts receivable - associated companies 568
----------
Total Current Assets 669
----------
Other Property and Investments:
Other property at cost less depreciation 16
Investments at cost 182
----------
Total Other Property and Investments 198
----------
TOTAL ASSETS $ 867
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 73
Retained earnings (2,539)
----------
Total Capitalization (2,466)
----------
Current Liabilities:
Total accounts payable 2,370
Taxes accrued (82)
Notes payable to associated companies 1,003
----------
Total Current Liabilities 3,291
----------
Noncurrent Liabilities:
Deferred income taxes 42
----------
Total Noncurrent Liabilities 42
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 867
==========
</TABLE>
<TABLE>
<CAPTION>
A.28 SHORE LINE SHOPS, INCORPORATED
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 6
----------
Total Revenues 6
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 27
Taxes (except income) 22
----------
Total Operating Expenses and Taxes (Except Income) 49
----------
Interest and other charges 108
----------
Income tax expense (12)
----------
NET INCOME (LOSS) $ (139)
==========
</TABLE>
<TABLE>
<CAPTION>
A.28 SHORE LINE SHOPS, INCORPORATED
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (2,400)
Net Income (139)
----------
BALANCE AT END OF YEAR $ (2,539)
==========
</TABLE>
<TABLE>
<CAPTION>
A.29 NI ENERGY SERVICES, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ (403)
Other accounts receivable (1,960)
Reserve-customer accounts (626)
Accounts receivable - associated companies 1,970
Notes receivable - associated companies 3,620
----------
Total Current Assets 2,601
----------
Other Property and Investments:
Other property at cost less depreciation 1,98/
Investments at equity (18,179)
----------
Total Other Property and Investments (16,191)
----------
Other Assets:
Deferred charges and other 1,929
----------
Total Other Assets 1,929
----------
TOTAL ASSETS $ (11,661)
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 2,887
Foreign currency translation adjustment (1,744)
Retained earnings (27,721)
----------
Total Capitalization (26,578)
----------
Current Liabilities:
Total accounts payable 989
Taxes accrued (2,496)
Notes payable to associated companies 15,366
Taxes withheld payables (251)
----------
Total Current Liabilities 13,608
----------
Noncurrent Liabilities:
Deferred income taxes 670
Deferred credits 639
----------
Total Noncurrent Liabilities 1,309
----------
TOTAL CAPITALIZATION AND LIABILITIES $ (11,661)
==========
</TABLE>
<TABLE>
<CAPTION>
A.29 NI ENERGY SERVICES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 3,360
----------
Total Revenues 3,360
----------
Operating Expenses and Taxes (Except Income):
Operating expenses 7
Administrative and general expenses 8,260
Depreciation and amortization 68
Taxes (except income) 52
----------
Total Operating Expenses and Taxes (Except Income) 8,387
----------
Other Income (Deductions):
Investment income (loss) (1,348)
Total Other income & deductions 670
Other non-operating income (328)
----------
Total Other Income (Deductions) (1,006)
----------
Interest and other charges 1,677
----------
Income tax expense (2,362)
----------
Income (Loss) Before Subsidiaries (5,348)
----------
Subsidiary Gain (Loss) (28,876)
----------
NET INCOME (LOSS) $ (34,224)
==========
</TABLE>
<TABLE>
<CAPTION>
A.29 NI ENERGY SERVICES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 6,503
Net Income (34,224)
----------
BALANCE AT END OF YEAR $ (27,721)
==========
</TABLE>
<TABLE>
<CAPTION>
A.30 MARKET HUB PARTNERS, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.30 MARKET HUB PARTNERS, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.30 MARKET HUB PARTNERS, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.31 MARKET HUB PARTNERS, L.P.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.31 MARKET HUB PARTNERS, L.P.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.31 MARKET HUB PARTNERS, L.P.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.32 INVENTORY MANAGEMENT AND DISTRIBUTION COMPANY, L.L.C.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.32 INVENTORY MANAGEMENT AND DISTRIBUTION COMPANY, L.L.C.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.32 INVENTORY MANAGEMENT AND DISTRIBUTION COMPANY, L.L.C.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.33 NIPSCO FUEL COMPANY, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 15
Other accounts receivable (19)
Accounts receivable - associated companies 5,265
----------
Total Current Assets 5,261
----------
Other Property and Investments:
Other property at cost less depreciation 3
Investments at equity 19,253
----------
Total Other Property and Investments 19,256
----------
Other Assets:
Deferred charges and other 5,151
----------
Total Other Assets 5,151
----------
TOTAL ASSETS $ 29,668
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (19,450)
----------
Total Capitalization (19,449)
----------
Current Liabilities:
Total accounts payable 3,097
Taxes accrued 3,163
Notes payable to associated companies 36,581
----------
Total Current Liabilities 42,841
----------
Noncurrent Liabilities:
Deferred income taxes 4,315
Deferred credits 1,961
----------
Total Noncurrent Liabilities 6,276
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 29,668
==========
</TABLE>
<TABLE>
<CAPTION>
A.33 NIPSCO FUEL COMPANY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 0
----------
Total Operating Revenue 0
----------
Cost of Sales:
Cost of Sales (77)
----------
Total Cost of Sales (77)
----------
Operating Margin 77
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 234
Depreciation and amortization 2
Taxes (except income) (20)
----------
Total Operating Expenses and Taxes (Except Income) 216
----------
Other Income (Deductions) 534
----------
Interest and other charges 2,481
----------
Income tax expense (1,522)
----------
Income (Loss) Before Subsidiaries (564)
----------
Subsidiary Gain (Loss) 14
----------
NET INCOME (LOSS) $ (550)
==========
</TABLE>
<TABLE>
<CAPTION>
A.33 NIPSCO FUEL COMPANY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (18,900)
Net Income (550)
----------
BALANCE AT END OF YEAR $ (19,450)
==========
</TABLE>
<TABLE>
<CAPTION>
A.34 BRISTOL RESOURCES PRODUCTION COMPANY L.L.C.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.34 BRISTOL RESOURCES PRODUCTION COMPANY L.L.C.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.34 BRISTOL RESOURCES PRODUCTION COMPANY L.L.C.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.35 NFCO ACQUISITION COMPANY
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 1
Accounts receivable - associated companies 27
----------
Total Current Assets 28
----------
Other Assets:
Deferred charges and other 567
----------
Total Other Assets 567
----------
TOTAL ASSETS $ 595
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in-capital 287
Retained earnings 14
----------
Total Capitalization 302
----------
Current Liabilities:
Total accounts payable 24
Taxes accrued 73
Notes payable to associated companies 26
----------
Total Current Liabilities 123
----------
Noncurrent Liabilities:
Deferred income taxes (37)
Deferred credits 207
----------
Total Noncurrent Liabilities 170
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 595
==========
</TABLE>
<TABLE>
<CAPTION>
A.35 NFCO ACQUISITION COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 0
----------
Total Operating Revenue 0
----------
Cost of Sales:
Cost of Sales 1
----------
Total Cost of Sales 1
----------
Operating Margin (1)
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expense 14
----------
Total Operating Expenses and Taxes (Except Income) (15)
----------
Other Income (Deductions) 22
----------
Income tax expense (7)
----------
NET INCOME (LOSS) $ 14
==========
</TABLE>
<TABLE>
<CAPTION>
A.35 NFCO ACQUISITION COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 247
Net Income 14
Dividends declared common (247)
----------
BALANCE AT END OF YEAR $ 14
==========
</TABLE>
<TABLE>
<CAPTION>
A.36 NI-TEX, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 99
Other accounts receivable 243
Accounts receivable - associated companies (282)
----------
Total Current Assets 60
----------
Other Property and Investments:
Investments at equity 1,832
----------
Total Other Property and Investments 1,832
----------
TOTAL ASSETS $ 1,892
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 2
Retained earnings (295)
----------
Total Capitalization (293)
----------
Current Liabilities:
Total accounts payable 678
Taxes accrued (7)
Notes payable to associated companies 1,082
----------
Total Current Liabilities 1,753
----------
Noncurrent Liabilities:
Deferred income taxes 432
----------
Total Noncurrent Liabilities 432
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 1,892
==========
</TABLE>
<TABLE>
<CAPTION>
A.36 NI-TEX, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas sales $ 32
----------
Total Operating Revenue 32
----------
Cost of Sales:
Gas purchases 36
Intercompany gas purchases 0
----------
Total Cost of Sales 36
----------
Operating Margin (4)
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 23
Taxes (except income) 1
----------
Total Operating Expenses and Taxes (Except Income) 24
----------
Other Income (Deductions):
Investment income (loss) (25)
Other non-operating income (3,166)
----------
Total Other Income (Deductions) (3,191)
----------
Interest and other charges 1
----------
Income tax expense (288)
----------
NET INCOME (LOSS) $ (2,932)
==========
</TABLE>
<TABLE>
<CAPTION>
A.36 NI-TEX, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 2,637
Net Income (2,932)
----------
BALANCE AT END OF YEAR $ (295)
==========
</TABLE>
<TABLE>
<CAPTION>
A.37 NI-TEX Gas Services, Inc.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 189
Accounts receivable - associated companies 967
Prepayments 3
----------
Total Current Assets 1 159
----------
Other Property and Investments:
Investments at equity 4,816
----------
Total Other Property and Investments 4,816
----------
Other Assets:
Deferred charges and other 12
----------
Total Other Asset 12
----------
TOTAL ASSETS $ 5,987
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 2
Additional paid-in-capital 5,872
Retained earnings (1,097)
----------
Total Capitalization 4,777
----------
Current Liabilities:
Total accounts payable 95
Taxes accrued 550
----------
Total Current Liabilities 645
----------
Noncurrent Liabilities:
Deferred income taxes 565
----------
Total Noncurrent Liabilities 565
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 5,987
==========
</TABLE>
<TABLE>
<CAPTION>
A.37 NI-TEX Gas Services, Inc.
INCOME STATEMENT*
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas sales $ 0
----------
Total Operating Revenue 0
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 12
Taxes (except income) 3
----------
Total Operating Expenses and Taxes (Except Income) 15
----------
Other Income (Deductions):
Investment income (loss) 1,998
Other non-operating income 3,213
----------
Total Other Income (Deductions) 5,211
----------
Income tax expense 542
----------
NET INCOME (LOSS) $ 4,654
==========
*Income statement reflects activity for November 1998 through December 1998.
</TABLE>
<TABLE>
<CAPTION>
A.37 NI-TEX Gas Services, Inc.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (5,751)
Net Income* 4,654
----------
BALANCE AT END OF YEAR $ (1,097)
==========
*Net income is for November 1998 through December 1998.
</TABLE>
<TABLE>
<CAPTION>
A.38 LAREDO NUECES PIPELINE COMPANY
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.38 LAREDO NUECES PIPELINE COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.38 LAREDO NUECES PIPELINE COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.39 MIDTEX GAS STORAGE COMPANY, L.L.P.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.39 MIDTEX GAS STORAGE COMPANY, L.L.P.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.39 MIDTEX GAS STORAGE COMPANY, L.L.P.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.40 NESI ENERGY MARKETING, L.L.C.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 18,665
Other accounts receivable 65,198
Reserve - customer accounts (106)
Accounts receivable - associated companies 5,712
Natural gas in storage, weighted average 13,522
Prepayments 6
----------
Total Current Assets 102,997
----------
Other Property and Investments:
Other property at cost less depreciation 567
----------
Total Other Property and Investments 567
----------
Other Assets:
Deferred charges and other 3
----------
Total Other Assets 3
----------
TOTAL ASSETS $ 103,567
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Additional paid-in-capital $ (1,065)
Retained earnings 1,367
----------
Total Capitalization 302
----------
Current Liabilities:
Total accounts payable 75,753
Taxes accrued (2,168)
Notes payable to associated companies 33,567
Taxes withheld payables (107)
----------
Total Current Liabilities 107,045
----------
Noncurrent Liabilities:
Deferred credits (3,780)
----------
Total Noncurrent Liabilities (3,780)
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 103,567
==========
</TABLE>
<TABLE>
<CAPTION>
A.40 NESI ENERGY MARKETING, L.L.C.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Operating revenue $ 568,510
Intercompany operating revenue 61,627
----------
Total Operating Revenue 630,137
----------
Cost of Sales:
Cost of sales 610,707
Intercompany cost of sales 13,240
----------
Total Cost of Sales 623,947
----------
Operating Margin 6,190
----------
Operating Expenses and Taxes (Except Income):
Operating expenses 212
Administrative and general expenses 3,101
Depreciation and amortization 133
Taxes (except income) 104
----------
Total Operating Expenses and Taxes (Except Income) 3,550
----------
Other Income (Deductions) (3)
----------
Interest and other charges 1,242
----------
Income tax expense 28
----------
NET INCOME (LOSS) $ 1,367
==========
</TABLE>
<TABLE>
<CAPTION>
A.40 NESI ENERGY MARKETING, L.L.C.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance beginning of year $ 0
Net Income 1,367
----------
BALANCE AT END OF YEAR $ 1,367
==========
</TABLE>
<TABLE>
<CAPTION>
A.41 GREEN FUELS, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Notes receivable $ 233
Other accounts receivable 320
Accounts receivable - associated companies 51
Material and supplies at average cost 390
Prepayments 4
----------
Total Current Assets 998
----------
Other Property and Investments:
Other property at cost less depreciation 1,060
----------
Total Other Property and Investments 1,060
----------
TOTAL ASSETS $ 2,058
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (2,673)
----------
Total Capitalization (2,672)
----------
Current Liabilities:
Total accounts payable 95
Taxes accrued (1,025)
Notes payable to associated companies 4,137
Taxes withheld payables (15)
----------
Total Current Liabilities 3,192
----------
Noncurrent Liabilities:
Deferred income taxes 9
Deferred credits 1,529
----------
Total Noncurrent Liabilities 1,538
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 2,058
==========
</TABLE>
<TABLE>
<CAPTION>
A.41 GREEN FUELS, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Operating revenue $ 387
---------
Total Operating Revenue 387
---------
Cost of Sales:
Cost of sales 296
---------
Total Cost of Sales 296
---------
Operating Margin 91
----------
Operating Expenses and Taxes (Except Income):
Operating expenses 249
Administrative and general expenses 719
Depreciation and amortization 185
Taxes (except income) 54
---------
Total Operating Expenses and Taxes (Except Income) 1,207
---------
Other Income (Deductions) (1,275)
---------
Interest and other charges 316
---------
Income tax expense (1,027)
----------
NET INCOME (LOSS) $ (1,680)
==========
</TABLE>
<TABLE>
<CAPTION>
A.41 GREEN FUELS, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at beginning of year $ (993)
Net Income (1,680)
----------
BALANCE AT END OF YEAR $ (2,673)
==========
</TABLE>
<TABLE>
<CAPTION>
A.42 NESI TRANSPORTATION, INC.
BALANCE SHEET
For the Year Ended December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 2
Other accounts receivable 1,785
Accounts receivable - associated companies (6)
-----------
Total Current Assets 1,781
-----------
TOTAL ASSETS $ 1,781
===========
<CAPTION>
CAPITALIZATION AND LIABILITIES:
<S> <C>
Capitalization:
Retained earnings 273
----------
Total Capitalization 273
----------
Current Liabilities:
Total accounts payable 56
Taxes accrued 167
Notes payable to associated companies 1,285
----------
Total Current Liabilities 1,508
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 1,781
==========
</TABLE>
<TABLE>
A.42 NESI TRANSPORTATION, INC.
INCOME STATEMENT*
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 1,757
----------
Total Operating Revenue 1,757
----------
Cost of Sales:
Cost of Sales 1,323
----------
Total Cost of Sales 1,323
----------
Operating Margin 434
----------
Operating Expense and Taxes (Except Income):
Administrative and general expenses 0
----------
Total Operating Expenses and Taxes (Except Income) 0
----------
Other Income (Deductions) 18
----------
Interest and other charges 13
----------
Income tax expense 166
----------
NET INCOME (LOSS) $ 273
==========
*Income statement reflects activity for September 1998 through December 1998.
</TABLE>
<TABLE>
<CAPTION>
A.42 NESI TRANSPORTATION, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at beginning of year $ 0
Net income* (loss) 273
----------
BALANCE AT END OF YEAR $ 273
==========
*Net income is for September 1998 through December 1998.
</TABLE>
<TABLE>
<CAPTION>
A.43 NESI POWER MARKETING, INC.
BALANCE SHEET
For the Year Ended December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 611
Other accounts receivable 32,080
Reserve-customer accounts (4,716)
Accounts receivable - associated companies 25
-----------
Total Current Assets 28,000
-----------
Other Property and Investments:
Other property at cost less depreciation 2,227
-----------
Total Other Property and Investments 2,227
-----------
Other Assets:
Deferred charges and other 998
-----------
Total other assets 998
-----------
TOTAL ASSETS $ 31,225
===========
<CAPTION>
CAPITALIZATION AND LIABILITIES:
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (15,855)
----------
Total Capitalization (15,854)
----------
Current Liabilities:
Total accounts payable 27,304
Taxes accrued (9,554)
Notes payable to associated companies 29,338
----------
Total Current Liabilities 47,088
----------
Noncurrent Liabilities:
Deferred income taxes (9)
----------
Total Noncurrent Liabilities (9)
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 31,225
==========
</TABLE>
<TABLE>
A.43 NESI POWER MARKETING, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 353,868
----------
Total Operating Revenue 353,868
----------
Cost of Sales:
Cost of sales 370,960
----------
Total Cost of Sales 370,960
----------
Operating Margin (17,091)
----------
Operating Expense and Taxes (Except Income):
Operating expenses 4,692
Administrative and general expenses 1,721
Depreciation and amortization 4
Taxes (except income) 580
----------
Total Operating Expense and Taxes (Except Income) 6,997
----------
Other Income (Deductions) 4
----------
Interest and other charges 1,110
----------
Income tax expense (9,549)
----------
NET INCOME (LOSS) $ (15,645)
==========
</TABLE>
<TABLE>
<CAPTION>
A.43 NESI POWER MARKETING, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at beginning of year $ (210)
Net income (loss) (15,645)
----------
BALANCE AT END OF YEAR $ (15,855)
==========
</TABLE>
<TABLE>
<CAPTION>
A.44 NESI INTEGRATED ENERGY RESOURCES, INC.
BALANCE SHEET
For the Year Ended December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 2,728
Other accounts receivable 2,566
Accounts receivable - associated companies (1)
Material and supplies at average cost 3
Natural gas in storage - weighted average 1,184
Prepayments 68
-----------
Total Current Assets 6,548
-----------
Other Property and Investments:
Other property at cost less depreciation 29
-----------
Total Other Property and Investments 29
-----------
TOTAL ASSETS $ 6,577
===========
<CAPTION>
CAPITALIZATION AND LIABILITIES:
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (547)
----------
Total Capitalization (546)
----------
Current Liabilities:
Total accounts payable 1,511
Customer deposits 0
Taxes accrued (91)
Notes payable to associated companies 6,483
Taxes withheld payables (5)
----------
Total Current Liabilities 7,898
----------
Noncurrent Liabilities:
Deferred income taxes 0
Deferred credits (775)
----------
Total Noncurrent Liabilities (775)
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 6,577
==========
</TABLE>
<TABLE>
A.44 NESI INTEGRATED ENERGY RESOURCES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 6,259
---------
Total Operating Revenue 6,259
---------
Cost of Sales:
Cost of Sales 5,528
---------
Total Cost of Sales 5,528
---------
Operating Margin 731
---------
Operating Expense and Taxes (Except Income)
Operating expenses 176
Administrative and general expenses 754
Depreciation and amortization 1
Taxes (except income) 24
---------
Total Operating Expense and Taxes (Except Income) (224)
---------
Interest and other charges 165
---------
Income tax expense (128)
---------
NET INCOME (LOSS) $ (262)
=========
</TABLE>
<TABLE>
<CAPTION>
A.44 NESI INTEGRATED ENERGY RESOURCES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at beginning of year $ (285)
Net income (loss) (262)
---------
BALANCE AT END OF YEAR $ (547)
=========
</TABLE>
<TABLE>
<CAPTION>
A.45 NESI SOLUTIONS, INC.
BALANCE SHEET
For the Year Ended December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 721
Other accounts receivable 2,434
Reserve - customer accounts (528)
Accounts receivable - associated companies 63
Material and supplies at average cost 376
Prepayments 3
-----------
Total Current Assets 3,070
-----------
Other Property and Investments:
Other property at cost less depreciations 443
Less-Accumulated provision for
depreciation and amortization (123)
-----------
Total Other Property and Investments 319
-----------
Other Assets:
Deferred charges and other 559
-----------
Total Other Asset 559
-----------
TOTAL ASSETS $ 3,948
===========
<CAPTION>
CAPITALIZATION AND LIABILITIES:
<S> <C>
Capitalization:
Common shares without par value $ 301
Retained earnings (4,994)
----------
Total Capitalization (4,693)
----------
Current Liabilities:
Total accounts payable 1,263
Customer deposits 27
Taxes accrued (1,718)
Notes payable to associated companies 8,796
Other accruals 21
Taxes withheld payable (123)
Miscellaneous accrued liabilities 255
----------
Total Current Liabilities 8,521
----------
Noncurrent Liabilities:
Deferred income taxes 18
Deferred credits 102
----------
Total Noncurrent Liabilities 120
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 3,948
==========
</TABLE>
<TABLE>
A.45 NESI SOLUTIONS, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 6,184
---------
Total Operating Revenue 6,184
---------
Cost of Sales:
Cost of Sales 4,504
---------
Total Cost of Sales 4,504
---------
Operating Margin 1,680
---------
Operating Expense and Taxes (Except Income)
Operating expenses 1,029
Administrative and general expenses 4,732
Depreciation and amortization 172
Taxes (except income) 230
---------
Total Operating Expense and Taxes (Except Income) 6,163
---------
Other Income (Deductions) 64
---------
Interest and other charges 557
---------
Income tax expense (1,835)
---------
NET INCOME (LOSS) $ (3,141)
=========
</TABLE>
<TABLE>
<CAPTION>
A.45 NESI SOLUTIONS, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at beginning of year $ (1,853)
Net income (loss) (3,141)
----------
BALANCE AT END OF YEAR $ (4,994)
=========
</TABLE>
<TABLE>
<CAPTION>
A.46 NIPSCO ENERGY SERVICES CANADA, LTD.
BALANCE SHEET
For the Year Ended December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 24
Other accounts receivable 4
Accounts receivable - associated companies 4
-----------
Total Current Assets 32
-----------
TOTAL ASSETS $ 32
===========
<CAPTION>
CAPITALIZATION AND LIABILITIES:
<S> <C>
Capitalization:
Common shares without par value $ 984
Foreign currency translation adjustment 444
Retained earnings (1,866)
----------
Total Capitalization (438)
----------
Current Liabilities:
Total accounts payable 431
Notes payable to associated companies 39
----------
Total Current Liabilities 470
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 32
==========
</TABLE>
<TABLE>
A.46 NIPSCO ENERGY SERVICES CANADA, LTD.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Expense and Taxes (Except Income)
Administrative and general expenses $ 242
----------
Total Operating Expense and Taxes (Except Income) 242
----------
Other Income (Deductions) 940
----------
Interest and other charges 152
----------
NET INCOME (LOSS) $ 546
==========
</TABLE>
<TABLE>
<CAPTION>
A.46 NIPSCO ENERGY SERVICES CANADA, LTD.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance - beginning of year $ (2,412)
Net income (loss) 546
----------
BALANCE AT END OF YEAR $ (1,866)
==========
</TABLE>
<TABLE>
<CAPTION>
A.47 NESI CANADIAN HOLDINGS, INC.
BALANCE SHEET
For the Year Ended December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Notes receivable - associated companies $ 9,181
-----------
Total Current Assets 9,181
-----------
Other Property and Investments:
Investments at equity 4,590
-----------
Total Other Property and Investments 4,590
-----------
TOTAL ASSETS $ 13,771
===========
<CAPTION>
CAPITALIZATION AND LIABILITIES:
<S> <C>
Capitalization:
Additional paid-in capital $ 15,521
Foreign currency translation adjustment (1,197)
Retained earnings (553)
----------
Total Capitalization 13,771
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 13,771
==========
</TABLE>
<TABLE>
A.47 NESI CANADIAN HOLDINGS, INC.
INCOME STATEMENT*
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Expense and Taxes (Except Income)
Administrative and general expenses $ 0
----------
Total Operating Expense and Taxes (Except Income) 0
----------
Other Income (Deductions)
0
----------
Income (loss) before subsidiaries 0
----------
Subsidiary gain (loss) (553)
----------
NET INCOME (LOSS) $ (553)
==========
*Income statement reflects activity for September 1998 through December 1998.
</TABLE>
<TABLE>
<CAPTION>
A.47 NESI CANADIAN HOLDINGS, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance - beginning of year $ 0
Net income* (loss) (553)
----------
BALANCE AT END OF YEAR $ (553)
==========
*Net income is for October 1998 through December 1998.
</TABLE>
<TABLE>
<CAPTION>
A.48 NI CANADA ULC
BALANCE SHEET
For the Year Ended December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 86
Notes receivable-associated companies 39
-----------
Total Current Assets 125
-----------
Other Property and Investments:
Investments at equity 19,697
-----------
Total Other Property and Investments 19,697
-----------
Other Assets:
Deferred charges and other 1
-----------
Total Other Asset 1
-----------
TOTAL ASSETS $ 19,823
===========
<CAPTION>
CAPITALIZATION AND LIABILITIES:
<S> <C>
Capitalization:
Common shares without par value $ 5,147
Foreign currency translation adjustment (4)
Retained earnings (553)
----------
Total Capitalization 4,590
----------
Current Liabilities:
Total obligations due in one year 6,039
Total accounts payable 13
Notes payable to associated companies 9,181
----------
Total Current Liabilities 15,233
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 19,823
==========
</TABLE>
<TABLE>
A.48 NI CANADA ULC
INCOME STATEMENT*
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Expense and Taxes (Except Income)
Administrative and general expenses $ 32
----------
Total Operating Expense and Taxes (Except Income) 32
----------
Other Income (Deductions):
Investment income (loss) (524)
Non-operating income 98
----------
Total Other Income (Deductions) (426)
----------
Interest and other charges 95
----------
NET INCOME (LOSS) $ (553)
==========
*Income statement reflects activity for September 1998 through December 1998.
</TABLE>
<TABLE>
<CAPTION>
A.48 NI CANADA ULC
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance - beginning of year $ 0
Net income* (loss) (553)
----------
BALANCE AT END OF YEAR $ (553)
==========
*Net income is for September 1998 through December 1998.
</TABLE>
<TABLE>
<CAPTION>
A.49 NI ENERGY SERVICES DEVELOPMENT, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 7
----------
Total Current Assets 7
----------
Other Property and Investments:
Investments at equity 10,865
----------
Total Other Property and Investments 10,865
----------
TOTAL ASSETS $ 10,872
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Retained earnings $ 923
----------
Total Capitalization 923
----------
Current Liabilities:
Taxes accrued (54)
Notes payable to associated companies 10,004
----------
Total Current Liabilities 9,949
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 10,872
==========
</TABLE>
<TABLE>
<CAPTION>
A.49 NI ENERGY SERVICES DEVELOPMENT, INC.
INCOME STATEMENT*
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 0
----------
Total Operating Revenue 0
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 15
----------
Total Operating Expenses and Taxes (Except Income) 15
----------
Other Income (Deductions):
Investment income (loss) 1,012
Non-operating income 71
----------
Total Other Income (Deductions) 1,083
Interest and other charges 199
----------
Income tax expense (54)
----------
NET INCOME (LOSS) $ 923
==========
*Income statement reflects activity for May 1998 through December 1998.
</TABLE>
<TABLE>
<CAPTION>
A.49 NI ENERGY SERVICES DEVELOPMENT, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 0
Net Income* 923
----------
BALANCE AT END OF YEAR $ 923
==========
*Net income is for May 1998 through December 1998.
</TABLE>
<TABLE>
<CAPTION>
A.50 PORTLAND NATURAL GAS TRANSMISSION SYSTEM
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.50 PORTLAND NATURAL GAS TRANSMISSION SYSTEM
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.50 PORTLAND NATURAL GAS TRANSMISSION SYSTEM
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.51 CANOR ENERGY, LTD.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.51 CANOR ENERGY, LTD.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.51 CANOR ENERGY, LTD.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.52 NESI ENERGY MARKETING CANADA, LTD.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.52 NESI ENERGY MARKETING CANADA, LTD.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.52 NESI ENERGY MARKETING CANADA, LTD.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.53 NIPSCO DEVELOPMENT COMPANY, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 330
Notes receivable 592
Other accounts receivable 433
Accounts receivable - associated companies 3,397
Notes receivable - associated companies 2,965
Prepayments 281
----------
Total Current Assets 7,998
----------
Other Property and Investments:
Other property at cost less depreciation 10,647
Investments at equity 58,136
Investments at cost 4,634
----------
Total Other Property and Investments 73,417
----------
Other Assets:
Deferred charges and other (613)
----------
Total Other Assets (613)
----------
TOTAL ASSETS $ 80,802
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Foreign currency translation adjustment (795)
Retained earnings (50,438)
----------
Total Capitalization (51,232)
----------
Current Liabilities:
Total accounts payable (119)
Taxes accrued (4,990)
Accrued employment costs 9
Notes payable to associated companies 140,845
Taxes withheld payables (142)
----------
Total Current Liabilities 135,603
----------
Noncurrent Liabilities:
Deferred income taxes (3,569)
----------
Total Noncurrent Liabilities (3,569)
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 80,802
==========
</TABLE>
<TABLE>
<CAPTION>
A.53 NIPSCO DEVELOPMENT COMPANY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 7,465
----------
Total Revenue 7,465
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 5,002
Depreciation and amortization 535
Taxes (except income) 786
----------
Total Operating Expenses and Taxes (Except Income) 6,322
----------
Other Income (Deductions):
Investment income (loss) 124
Non-operating income 3,434
----------
Total Other Income (Deductions) 3,558
----------
Interest and other charges 10,607
----------
Income tax expense (2,213)
----------
Income (Loss) Before Subsidiaries (3,693)
----------
Subsidiary Gain (Loss) 2,255
----------
NET INCOME (LOSS) $ (1,438)
==========
</TABLE>
<TABLE>
<CAPTION>
A.53 NIPSCO DEVELOPMENT COMPANY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (49,000)
Net Income (1,438)
----------
BALANCE AT END OF YEAR $ (50,438)
==========
</TABLE>
<TABLE>
<CAPTION>
A.54 ANALYTIC SYSTEMS LABORATORIES, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 186
Other accounts receivable 213
Material and supplies at average cost 509
Prepayments 19
----------
Total Current Assets 927
----------
Other Property and Investments:
Other property at cost less depreciation 468
----------
Total Other Property and Investments 468
----------
Other Assets:
Deferred charges and other 63
----------
Total Other Assets 63
----------
TOTAL ASSETS $ 1,458
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 561
Retained earnings (4,400)
----------
Total Capitalization (3,839)
----------
Current Liabilities:
Total accounts payable 2,331
Notes payable to associated companies 2,966
----------
Total Current Liabilities 5,297
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 1,458
==========
</TABLE>
<TABLE>
<CAPTION>
A.54 ANALYTIC SYSTEMS LABORATORIES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 2,037
----------
Total Operating Revenue 2,037
----------
Cost of Sales:
Cost of Sales 867
----------
Total Cost of Sales 867
----------
Operating Margin 1,170
----------
Operating Expenses and Taxes (Except Income):
Operating expenses 110
Administrative and general expenses 1,306
Depreciation and amortization 112
Taxes (except income) 63
----------
Total Operating Expenses and Taxes (Except Income) 1,591
----------
Other Income (Deductions) (242)
----------
Income tax expense 1
----------
NET INCOME (LOSS) $ (664)
==========
</TABLE>
<TABLE>
<CAPTION>
A.54 ANALYTIC SYSTEMS LABORATORIES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (3,736)
Net Income (664)
----------
BALANCE AT END OF YEAR $ (4,400)
==========
</TABLE>
<TABLE>
<CAPTION>
A.55 PROTONICS RESEARCH, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.55 PROTONICS RESEARCH, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.55 PROTONICS RESEARCH, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.56 INTERNATIONAL POLYMER CORPORATION
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.56 INTERNATIONAL POLYMER CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.56 INTERNATIONAL POLYMER CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.57 JOF TRANSPORTATION COMPANY
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 643
Accounts receivable - associated companies 70
----------
Total Current Assets 713
----------
Other Property and Investments:
Investments at equity 5,920
----------
Total Other Property and Investments 5,920
----------
TOTAL ASSETS $ 6,633
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 5,633
Dividends: Common shares (1,000)
----------
Total Capitalization 4,634
----------
Current Liabilities:
Total accounts payable (3)
Taxes accrued 765
Notes payable to associated companies 684
----------
Total Current Liabilities 1,446
----------
Noncurrent Liabilities:
Deferred income taxes 553
----------
Noncurrent Liabilities: 553
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 6,633
==========
</TABLE>
<TABLE>
<CAPTION>
A.57 JOF TRANSPORTATION COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 23
Taxes (except income) 1
----------
Total Operating Expenses and Taxes (Except Income) 24
----------
Other Income (Deductions):
Investment income (loss) 1,985
Non-operating income 151
----------
Total Other Income (Deductions) 2,136
----------
Income tax expense 772
----------
NET INCOME (LOSS) $ 1,340
==========
</TABLE>
<TABLE>
<CAPTION>
A.57 JOF TRANSPORTATION COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 4,293
Net Income 1,340
Dividends declared common (1,000)
----------
BALANCE AT END OF YEAR $ 4,633
==========
</TABLE>
<TABLE>
<CAPTION>
A.58 KOGAF ENTERPRISES, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 10
Notes receivable - associated companies 2,117
----------
Total Current Assets 2,127
----------
Other Property and Investments:
Investments at equity 130
----------
Total Other Property and Investments 130
----------
TOTAL ASSETS $ 2,257
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 2,103
Retained earnings 134
----------
Total Capitalization 2,237
----------
Current Liabilities:
Total accounts payable 59
----------
Total Current Liabilities 59
----------
Noncurrent Liabilities:
Deferred income taxes (39)
----------
Noncurrent Liabilities (39)
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 2,257
==========
</TABLE>
<TABLE>
<CAPTION>
A.58 KOGAF Enterprises, Inc.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 140
----------
Total Operating Revenue 140
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 2
----------
Total Operating Expenses and Taxes (Except Income) 2
----------
Income tax expense 36
----------
NET INCOME (LOSS) $ 102
==========
</TABLE>
<TABLE>
<CAPTION>
A.58 KOGAF ENTERPRISES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 32
Net Income 102
----------
BALANCE AT END OF YEAR $ 134
==========
</TABLE>
<TABLE>
<CAPTION>
A.59 LAKE ERIE LAND COMPANY
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 243
Notes receivable 2,583
Other accounts receivable 22
Accounts receivable - associated companies 2,488
Prepayments 700
----------
Total Current Assets 6,036
----------
Other Property and Investments:
Other property at cost less depreciation 21,750
Investments at equity (1,030)
Investments at cost 33,534
----------
Total Other Property and Investments 54,254
----------
Other Assets:
Deferred charges and other 114
----------
Total Other Assets 114
----------
TOTAL ASSETS $ 60,404
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in capital 60,500
Retained earnings (12,164)
Long term debt excluding amounts due within one year 2,532
----------
Total Capitalization 50,869
----------
Current Liabilities:
Short term note payable 103
Total accounts payable 4,615
Customer deposits 39
Taxes accrued (1,926)
Accrued interest 19
Notes payable to associated companies 6,685
----------
Total Current Liabilities 9,535
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 60,404
==========
</TABLE>
<TABLE>
<CAPTION>
A.59 LAKE ERIE LAND COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 3,963
----------
Total Operating Revenue 3,963
----------
Cost of Sales:
Cost of sales 3,238
----------
Total Cost of Sales 3,238
----------
Operating Margin 725
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 3,865
Depreciation and amortization 1,476
Taxes (except income) 310
----------
Total Operating Expenses and Taxes (Except Income) 5,651
----------
Other Income (Deductions) 3
----------
Interest and other charges 807
----------
Income tax expense (2,070)
----------
Income (Loss) Before Subsidiaries (3,660)
----------
Subsidiary Gain (Loss) (485)
----------
NET INCOME (LOSS) $ (4,145)
==========
</TABLE>
<TABLE>
<CAPTION>
A.59 LAKE ERIE LAND COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (8,019)
Net Income (4,145)
----------
BALANCE AT END OF YEAR $ (12,164)
==========
</TABLE>
<TABLE>
<CAPTION>
A.60 SCC SERVICES, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 553
Other accounts receivable 331
Material and supplies at average cost 280
----------
Total Current Assets 1,164
----------
Other Assets:
Deferred charges and other 38
----------
Total Other Assets 38
----------
TOTAL ASSETS $ 1,202
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in-capital 57
Retained earnings (1,088)
----------
Total Capitalization (1,030)
----------
Current Liabilities:
Total accounts payable 2,441
Taxes accrued (266)
----------
Total Current Liabilities 2,175
----------
Noncurrent Liabilities:
Deferred credits 57
----------
Noncurrent Liabilities 57
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 1,202
==========
</TABLE>
<TABLE>
<CAPTION>
A.60 SCC SERVICES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 4,761
----------
Total Operating Revenues 4,761
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 5,277
Taxes (except income) 245
----------
Total Operating Expenses and Taxes (Except Income) 5,522
----------
Other Income (Deductions) 10
----------
Income tax expense (267)
----------
NET INCOME (LOSS) $ (484)
==========
</TABLE>
<TABLE>
<CAPTION>
A.60 SCC SERVICES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (604)
Net Income (484)
----------
BALANCE AT END OF YEAR $ (1,088)
==========
</TABLE>
<TABLE>
<CAPTION>
A.61 N SQUARED AVIATION, LLC
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.61 N SQUARED AVIATION, LLC
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.61 N SQUARED AVIATION, LLC
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.62 NDC DOUGLAS PROPERTIES, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 474
Accounts receivable - associated companies (180)
----------
Total Current Assets 294
----------
Other Property and Investments:
Investments at equity 34,004
----------
Total Other Property and Investments 34,004
----------
TOTAL ASSETS $ 34,298
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 2,088
Long term debt excluding amounts due 25,274
----------
Total Capitalization 27,363
----------
Current Liabilities:
Obligations due in one year 4,687
Total accounts payable 26
Taxes accrued (6,018)
Interest accrued 2,174
Notes payable to associated companies 3,861
----------
Total Current Liabilities 4,730
----------
Noncurrent Liabilities:
Deferred income taxes 2,205
----------
Noncurrent Liabilities 2,205
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 34,298
==========
</TABLE>
<TABLE>
<CAPTION>
A.62 NDC DOUGLAS PROPERTIES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 81
----------
Total Operating Revenue 81
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 134
Taxes (except income) 2
----------
Total Operating Expenses and Taxes (Except Income) 136
----------
Other Income (Deductions):
Investment income (loss) (2,613)
Non-operating income 7
----------
Total Other Income (Deductions) (2,606)
----------
Interest and other charges 3,083
----------
Income tax expense (6,562)
----------
NET INCOME (LOSS) $ 818
==========
</TABLE>
<TABLE>
<CAPTION>
A.62 NDC DOUGLAS PROPERTIES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 1,270
Net Income 818
----------
BALANCE AT END OF YEAR $ 2,088
==========
</TABLE>
<TABLE>
<CAPTION>
A.63 NIPSCO INTERNATIONAL POWER SYSTEMS COMPANY
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 1
----------
Total Current Assets 1
----------
TOTAL ASSETS $ 1
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (3)
----------
Total Capitalization (2)
----------
Current Liabilities:
Notes payable to associated companies 3
----------
Total Current Liabilities 3
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 1
==========
</TABLE>
<TABLE>
<CAPTION>
A.63 NIPSCO INTERNATIONAL POWER SYSTEMS COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.63 NIPSCO INTERNATIONAL POWER SYSTEMS COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (3)
Net Income 0
----------
BALANCE AT END OF YEAR $ (3)
==========
</TABLE>
<TABLE>
<CAPTION>
A.64 NIPSCO SECURITY SERVICES, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ (133)
Other accounts receivable 387
Reserve - customer accounts (60)
Accounts receivable - associated companies 26
Material and supplies at average cost 992
Prepayments 1
----------
Total Current Assets 1,213
----------
Other Property and Investments:
Other property at cost less depreciation 230
----------
Total Other Property and Investments 230
----------
Other Assets:
Deferred charges and other 18
----------
Total Other Assets 18
----------
TOTAL ASSETS $ 1,461
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Additional paid-in-capital 54
Retained earnings (4,174)
----------
Total Capitalization (4,119)
----------
Current Liabilities:
Total accounts payable 128
Customer deposits 119
Taxes accrued (594)
Notes payable to associated companies 5,945
Taxes withheld payables (37)
----------
Total Current Liabilities 5,561
----------
Noncurrent Liabilities:
Deferred income taxes (4)
Deferred credits 23
----------
Total Noncurrent Liabilities 19
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 1,461
==========
</TABLE>
<TABLE>
<CAPTION>
A.64 NIPSCO SECURITY SERVICES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 2,825
----------
Total Operating Revenue 2,825
----------
Cost of Sales:
Cost of Sales 1,261
----------
Total Cost of Sales 1,261
----------
Operating Margin 1,564
----------
Operating Expenses and Taxes (Except Income):
Operating expenses 239
Administrative and general expenses 2,201
Depreciation and amortization 84
Taxes (except income) 113
----------
Total Operating Expenses and Taxes (Except Income) 2,637
----------
Interest and other charges 484
----------
Income tax expense (584)
----------
NET INCOME (LOSS) $ (973)
==========
</TABLE>
<TABLE>
<CAPTION>
A.64 NIPSCO SECURITY SERVICES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (3,201)
Net Income (973)
----------
BALANCE AT END OF YEAR $ (4,174)
==========
</TABLE>
<TABLE>
<CAPTION>
A.65 CUSTOMER INFORMATION SERVICES, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 22
Other accounts receivable 1,653
Accounts receivable - associated companies 1
----------
Total Current Assets 1,676
----------
Other Property and Investments:
Other property at cost less depreciation 28
----------
Total Other Property and Investments 28
----------
TOTAL ASSETS $ 1,704
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 399
Dividends: common shares (1)
----------
Total Capitalization 399
----------
Current Liabilities:
Total accounts payable 24
Taxes accrued 47
Accrued employment costs 50
Notes payable to associated companies 1,116
Taxes withheld payables (10)
----------
Total Current Liabilities 1,227
----------
Noncurrent Liabilities:
Deferred income taxes 61
Deferred credits 17
----------
Noncurrent Liabilities 78
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 1,704
==========
</TABLE>
<TABLE>
<CAPTION>
A.65 CUSTOMER INFORMATION SERVICES, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Operating revenue $ 1,398
----------
Total Operating Revenue 1,398
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 1,203
Depreciation and amortization 5
Taxes (except income) 23
----------
Total Operating Expenses and Taxes (Except Income) 1,231
----------
Other Income (Deductions) 1
----------
Interest and other charges 27
----------
Income tax expense 141
----------
Income (Loss) Before Subsidiaries 35
----------
Subsidiary Gain (Loss) (355)
----------
NET INCOME (LOSS) $ (320)
==========
</TABLE>
<TABLE>
<CAPTION>
A.65 CUSTOMER INFORMATION SERVICES, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 719
Net Income (320)
Dividends declared common (1)
----------
BALANCE AT END OF YEAR $ 398
==========
</TABLE>
<TABLE>
<CAPTION>
A.66 CARDINAL PROPERTY MANAGEMENT, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 19
Accounts receivable - associated companies 6
Notes receivable - associated companies 75
----------
Total Current Assets 100
----------
Other Property and Investments:
Other property at cost less depreciation 32
----------
Total Other Property and Investments 32
----------
TOTAL ASSETS $ 132
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 364
Dividends: common shares (284)
----------
Total Capitalization 81
----------
Current Liabilities:
Total accounts payable 43
Taxes accrued 5
----------
Total Current Liabilities 48
----------
Noncurrent Liabilities:
Deferred income taxes 3
----------
Noncurrent Liabilities 3
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 132
==========
</TABLE>
<TABLE>
<CAPTION>
A.66 CARDINAL PROPERTY MANAGEMENT, INC.
INCOME STATEMENT For the Year Ended
December 31, 1998 (Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 17
----------
Total Operating Revenue 17
----------
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 7
Depreciation and amortization 8
Taxes (except income) 3
----------
Total Operating Expenses and Taxes (Except Income) 18
----------
Other Income (Deductions) 15
----------
Income tax expense 5
----------
NET INCOME (LOSS) $ 9
==========
</TABLE>
<TABLE>
<CAPTION>
A.66 CARDINAL PROPERTY MANAGEMENT, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 355
Net Income 9
Dividends declared common (284)
----------
BALANCE AT END OF YEAR $ 80
==========
</TABLE>
<TABLE>
<CAPTION>
A.67 PROGENI, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Other accounts receivable $ 0
Prepayments 27
----------
Total Current Assets 27
----------
Other Property and Investments:
Other property at cost less depreciation 1,009
----------
Total Other Property and Investments 1,009
----------
Deferred charges other 316
----------
Total Other Assets 316
----------
TOTAL ASSETS $ 1,352
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings (1,531)
----------
Total Capitalization (1,530)
----------
Current Liabilities:
Total accounts payable 203
Taxes accrued (793)
Accrued employment costs 133
Notes payable to associated companies 3,272
Taxes withheld payables (9)
----------
Total Current Liabilities 2,806
----------
Noncurrent Liabilities:
Deferred income taxes 2
Deferred credits 74
----------
Total Noncurrent Liabilities 76
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 1,352
==========
</TABLE>
<TABLE>
<CAPTION>
A.67 PROGENI, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Expenses and Taxes (Except Income):
Administrative and general expenses 1,894
Depreciation and amortization 5
Taxes (except income) 46
----------
Total Operating Expenses and Taxes (Except Income) 1,945
----------
Interest and other charges 135
----------
Income tax expense (789)
----------
NET INCOME (LOSS) $ (1,291)
==========
</TABLE>
<TABLE>
<CAPTION>
A.67 PROGENI, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (240)
Net Income (1,291)
----------
BALANCE AT END OF YEAR $ (1,531)
==========
</TABLE>
<TABLE>
<CAPTION>
A.68 SUN POWER CORPORATION
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.68 SUN POWER CORPORATION
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.68 SUN POWER CORPORATION
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.69 KOKOMO GAS AND FUEL COMPANY
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant:
Utility Plant $ 73,872
Less-Accumulated provision for
depreciation and amortization (31,094)
----------
Total Utility Plant 42,778
----------
Other Property and Investments:
Investments at cost 5
----------
Total Other Property and Investments 5
----------
Current Assets:
Cash and cash equivalents 1,537
Accounts receivable, less reserve 3,722
Gas cost adjustment clause 282
Material and supplies at average cost 409
Natural gas in storage, weighted average 887
Prepayments and other 7,590
----------
Total Current Assets 14,427
----------
Other Assets:
Deferred charges and other 68
----------
Total Other Assets 68
----------
TOTAL ASSETS $ 57,278
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 46,170
Retained earnings 1,224
Dividends: Common Shares (2,400)
----------
Total Capitalization 44,994
----------
Current Liabilities:
Total accounts payable 4,197
Customer deposits 424
Taxes accrued 661
Interest accrued 94
Other accruals 1,133
----------
Total Current Liabilities 6,509
----------
Noncurrent Liabilities:
Deferred income taxes 3,110
Deferred income tax credits amortized 609
Deferred credits 10
Postretirement accrued benefits 169
Regulatory income tax liability 1,477
Other non-current liabilities 400
----------
Noncurrent Liabilities 5,775
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 57,278
==========
</TABLE>
<TABLE>
<CAPTION>
A.69 KOKOMO GAS AND FUEL COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 37,895
----------
Total Operating Revenue 37,895
----------
Cost of Sales:
Purchased gas 26,528
----------
Operating Margin 11,367
----------
Operating Expenses and Taxes (Except Income):
Operation expenses 3,081
Administrative and general expenses 2,151
Depreciation and amortization 1,556
Taxes (except income) 939
----------
Total Operating Expenses and Taxes (Except Income) 7,727
----------
Other Income (Deductions) (4)
----------
Interest and other charges 15
----------
Income tax expense 1,524
----------
NET INCOME (LOSS) $ 2,097
==========
</TABLE>
<TABLE>
<CAPTION>
A.69 KOKOMO GAS AND FUEL COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ (873)
Net Income 2,097
Dividends declared common (2,400)
----------
BALANCE AT END OF YEAR $ (1,176)
==========
</TABLE>
<TABLE>
<CAPTION>
A.70 KGF TRADING COMPANY
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.70 KGF TRADING COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(No Activity) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.70 KGF TRADING COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
(None - Zero Amounts) $ 0
==========
</TABLE>
<TABLE>
<CAPTION>
A.71 NORTHERN INDIANA FUEL AND LIGHT COMPANY, INC.
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Utility Plant:
Utility Plant $ 66,771
Less-Accumulated provision for
depreciation and amortization (20,229)
----------
Total Utility Plant 46,542
----------
Other Property and Investments:
Investments at equity 2,084
Investments at cost 3
----------
Total Other Property and Investments 2,087
----------
Current Assets:
Cash and cash equivalents 174
Accounts receivable, less reserve 4,507
Gas adjustment clause 1,413
Material and supplies at average cost 443
Natural gas in storage, weighted average 3,190
Prepayments and other 6,712
----------
Total Current Assets 16,439
----------
Other Assets:
Regulatory assets 271
Deferred charges and other 9
----------
Total Other Assets 280
----------
TOTAL ASSETS $ 65,348
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 30,674
Additional paid-in-capital 7,295
Retained earnings 12,486
----------
Total Capitalization 50,455
----------
Current Liabilities:
Total accounts payable 4,374
Customer deposits 153
Taxes accrued 535
Interest accrued 28
Other accruals 1,479
----------
Total Current Liabilities 6,569
----------
Noncurrent Liabilities:
Deferred income taxes 3,318
Deferred income tax credits amortized 430
Deferred credits 2,455
Regulatory income tax liability 2,121
----------
Noncurrent Liabilities 8,324
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 65,348
==========
</TABLE>
<TABLE>
<CAPTION>
A.71 NORTHERN INDIANA FUEL AND LIGHT COMPANY, INC.
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Gas $ 31,052
----------
Total Operating Revenue 31,052
----------
Cost of Sales:
Purchased gas 19,861
----------
Total Cost of Sales 19,861
----------
Operating Margin 11,191
----------
Operating Expenses and Taxes (Except Income):
Operation expenses 3,549
Administrative and general expenses 2,844
Depreciation and amortization 1,287
Taxes (except income) 740
----------
Total Operating Expenses and Taxes (Except Income) 8,420
----------
Other Income (Deductions) 319
----------
Interest and other charges 60
----------
Income tax expense 1,304
----------
Income before subsidiaries 1,726
----------
Subsidiary Gain (Loss) 426
----------
NET INCOME (LOSS) $ 2,152
==========
</TABLE>
<TABLE>
<CAPTION>
A.71 NORTHERN INDIANA FUEL AND LIGHT COMPANY, INC.
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 10,334
Net Income 2,152
----------
BALANCE AT END OF YEAR $ 12,486
==========
</TABLE>
<TABLE>
<CAPTION>
A.72 NORTHERN INDIANA TRADING COMPANY
BALANCE SHEET
December 31, 1998
(Dollars in Thousands)
ASSETS
<S> <C>
Current Assets:
Cash and cash equivalents $ 104
Other accounts receivable 1,614
Accounts receivable - associated companies 1,011
----------
Total Current Assets 2,729
----------
Other Property and Investments:
Other property at cost less depreciation 825
----------
Total Other Property and Investments 825
----------
Other Assets:
Deferred charges and other (3)
----------
Total Other Property and Investments 825
----------
TOTAL ASSETS $ 3,551
==========
<CAPTION>
CAPITALIZATION AND LIABILITIES
<S> <C>
Capitalization:
Common shares without par value $ 1
Retained earnings 2,083
----------
Total Capitalization 2,084
----------
Current Liabilities:
Total accounts payable 1,057
Taxes accrued 327
Refunds due customers within one year 13
Other accruals 2
Taxes withheld payables 2
----------
Total Current Liabilities 1,401
----------
Noncurrent Liabilities:
Deferred income taxes 66
----------
Noncurrent Liabilities 66
----------
TOTAL CAPITALIZATION AND LIABILITIES $ 3,551
==========
</TABLE>
<TABLE>
<CAPTION>
A.72 NORTHERN INDIANA TRADING COMPANY
INCOME STATEMENT
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Operating Revenues:
Total operating revenue $ 11,781
----------
Total Operating Revenue 11,781
----------
Cost of Sales:
Cost of Sales 10,587
----------
Total Cost of Sales 10,587
----------
Operating Margin 1,194
----------
Operating Expenses and Taxes (Except Income):
Operating expenses 295
Depreciation and amortization 198
Taxes (except income) 14
----------
Total Operating Expenses and Taxes (Except Income) 507
----------
Other Income (Deductions) 0
----------
Income tax expense 260
----------
NET INCOME (LOSS) $ 427
==========
</TABLE>
<TABLE>
<CAPTION>
A.72 NORTHERN INDIANA TRADING COMPANY
STATEMENT OF RETAINED EARNINGS
For the Year Ended December 31, 1998
(Dollars in Thousands)
<S> <C>
Balance at Beginning of Year $ 1,656
Net Income 427
----------
BALANCE AT END OF YEAR $ 2,083
==========
</TABLE>
EXHIBIT-99.B
NIPSCO Industries, Inc.
The above-named claimant has caused this statement to be duly executed
on its behalf by its authorized officer on the 26th day of February, 1999.
NIPSCO Industries, Inc.
By /S/ NINA M. RAUSCH
----------------------------
Corporate Seal Nina M. Rausch
Attest: Secretary
Nina M. Rausch
Secretary
Name, title and address of officer to whom notices and correspondence concerning
this statement should be addressed:
Stephen P. Adik
Executive Vice President and
Chief Financial Officer and Treasurer
NIPSCO Industries, Inc.
801 E. 86th Avenue
Merrillville, Indiana 46410
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