UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM U-3A-2
File No. 69-344
Statement by Holding Company
Claiming Exemption Under Rule U-3A-2
from the Provisions of the
Public Utility Holding Company Act of 1935
To Be Filed Annually Prior to March 1
EDISON INTERNATIONAL
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to Rule 2,
its statement claiming exemption as a holding company from the provisions of the
Public Utility Holding Company Act of 1935, and submits the following
information:
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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.
HOLDING COMPANY
00 EDISON INTERNATIONAL is a corporation organized under the laws of the
State of California and having its principal place of business at 2244
Walnut Grove Avenue (P.O. Box 999), Rosemead, California 91770. It was
organized principally to acquire and hold securities of other
corporations for investment purposes. Edison International has the
following subsidiaries:
UTILITY SUBSIDIARIES
01 SOUTHERN CALIFORNIA EDISON COMPANY ("SCE") is a California corporation
having its principal place of business at 2244 Walnut Grove Avenue (P.O.
Box 800), Rosemead, California 91770. SCE is a public utility primarily
engaged in the business of supplying electric energy to portions of
central and southern California, excluding the City of Los Angeles and
certain other cities. Its subsidiaries have the same principal place of
business as Southern California Edison Company:
02 CALIFORNIA ELECTRIC POWER COMPANY is an inactive California
corporation that remains from a 1964 merger with SCE.
02 CONSERVATION FINANCING CORPORATION is a California corporation
engaged in the remediation and mitigation of environmental
liabilities.
02 EDISON ESI is a California corporation engaged in the business of
marketing services, products, information, and copyrighted materials
to third parties on behalf of SCE.
02 EDISON MATERIAL SUPPLY LLC is a Delaware limited liability company
that provides procurement, inventory and warehousing services.
02 MONO POWER COMPANY is an inactive California corporation that has been
engaged in the business of exploring for and developing fuel
resources.
03 The Bear Creek Uranium Company is an inactive California
partnership between Mono Power Company (50%) and Union Pacific
Resources (50%) that has been engaged in reclamation of an
integrated uranium mining and milling complex in Wyoming.
02 SCE CAPITAL COMPANY is an inactive Delaware corporation that
acted as a financing vehicle for SCE.
02 SCE FUNDING LLC is a Delaware limited liability company that acts as a
financing vehicle for rate reduction bonds.
02 SCE UK SERVICES LTD is a United Kingdom private limited company having
its registered office at Lansdowne House, Berkeley Square, London,
England W1X 5DH, which provides auditing services for affiliated
companies.
02 SOUTHERN STATES REALTY is a California corporation engaged in
holding real estate assets for SCE.
NONUTILITY SUBSIDIARIES
01 EDISON DRIVES ELECTRIC is a California corporation having its
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principal place of business at 2244 Walnut Grove Avenue, Rosemead,
California 91770, which is engaged in administering a vehicle lease
program for Edison International employees.
01 EDISON INSURANCE SERVICES, INC., is a Hawaii corporation having its
principal executive office at 1099 Alakea Street, 22nd Floor, Honolulu,
Hawaii 96813, which provides domestic and foreign property damage and
business interruption insurance to Edison International and its
subsidiaries.
01 EDISON VENTURES is a California corporation having its principal place of
business at 2244 Walnut Grove Avenue, Rosemead, California 91770, which
owns the stock and coordinates the activities of its nonutility
subsidiaries. The subsidiaries of Edison Ventures are as follows:
02 EDISON TRANSENERGY is a California corporation having its principal
place of business at 2244 Walnut Grove Avenue, Rosemead, California
91770, which is engaged in pipeline development activities to
transport crude oil.
01 EDISON ENERGY (Inactive)
01 EDISON INTERNATIONAL POWER (Inactive)
01 EIX TRUST I is a Delaware business trust that acts as a financing
vehicle.
01 EIX TRUST II is a Delaware business trust that acts as a financing
vehicle.
01 EIX TRUST III is a Delaware business trust that acts as a financing
vehicle.
01 THE MISSION GROUP is a California corporation having its principal place
of business at 18101 Von Karman Avenue, Suite 1700, Irvine, California
92612-1046, which owns the stock and coordinates the activities of
nonutility companies. The subsidiaries of The Mission Group are as
follows:
02 EDISON O&M SERVICES is a California corporation that was organized to
provide generation operation and maintenance services.
02 EDISON TECHNOLOGY SOLUTIONS ("ETS") is a California corporation having
its principal place of business at 2244 Walnut Grove Avenue, Rosemead,
California 91770, which was organized to engage in technology
development and commercialization. The subsidiaries of Edison
Technology Solutions are as follows:
03 EDISON EV is a California corporation having its principal place
of business at 2244 Walnut Grove Avenue, Rosemead, California
91770, which was engaged in the business of providing electric
vehicle charging infrastructure.
03 FACILICHEM, INC., is a California corporation having its principal
place of business at 333 Ravenswood Avenue, Menlo Park, California
94025, which was organized to engage in the research, development
and commercialization of liquid membrane technologies for
application in specific industrial and chemical processes. ETS
has a 10% ownership interest with an option to increase that i
nterest to 16.66%
02 EDISON ENVIRONMENTAL SERVICES is a California corporation having its
principal place of business at 18101 Von Karman Avenue, Suite 1700,
Irvine, California 92612-1046, which was organized to provide nuclear
decommissioning services.
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02 EDISON ENTERPRISES is a California corporation having its principal
place of business at 955 Overland Court, San Dimas, California 91773,
which owns the stock and coordinates the activities of its nonutility
subsidiaries. The subsidiaries of Edison Enterprises are as follows:
03 EDISON SOURCE is a California corporation having its principal
place of business at 800 East Orangethorpe Avenue, Anaheim,
California 92801. It is engaged in the business of integrated
energy services.
04 G.H.V. REFRIGERATION, INC. is a California corporation having
its principal place of business at 800 E. Orangethorpe Avenue,
Anaheim, California 92801. It is engaged in the business of
providing refrigeration/HVAC operations, maintenance and
installations throughout Southern California and Arizona.
03 EDISON SELECT is a California corporation having its principal
place of business at 955 Overland Court, San Dimas, Califonia
91773. It is engaged in the business of providing consumer
products and services.
04 EDISON HOME PROTECTION COMPANY (Inactive)
04 SELECT HOME WARRANTY COMPANY is a California corporation having
its principal place of business at 955 Overland Court, San
Dimas, California 91773. It is engaged in the home protection
company business.
04 EDISON SECURITY CORP. [formerly WESTEC RESIDENTIAL SECURITY,
INC.] is a Delaware corporation having its principal place of
business at 955 Overland Court, San Dimas, California 91773.
It is engaged in the business of providing home security
services.
04 VALLEY BURGLAR & FIRE ALARM CO., INC. is a California
corporation having its principal place of business at 955
Overland Court, San Dimas, California 91773. It is engaged
in the business of providing home security services.
03 EDISON UTILITY SERVICES is a California corporation having its
principal place of business at 955 Overland Court, San Dimas,
California 91773. It is engaged in the business of providing
services including billing and transmission and distribution
outsourcing.
02 EDISON CAPITAL is a California corporation having its principal place
of business at 18101 Von Karman Avenue, Suite 800, Irvine, California
92612-1046. It is engaged in the business of leveraged- leasing
transactions and other project financings, either directly or through
subsidiaries. Edison Capital owns a group of subsidiaries and has
interests in various partnerships through its subsidiaries. The
subsidiaries and partnerships of Edison Capital are listed below.
Unless otherwise indicated, all entities are corporations, are
organized under the laws of the State of California, and have the same
principal place of business as Edison Capital.
03 BURLINGTON APARTMENTS, INC.
03 EDISON CAPITAL EUROPE LIMITED (UK corporation)
Address: Lansdowne House, Berkeley Square, London, England W1X 5DH
03 EDISON CAPITAL VENTURES
03 EDISON FUNDING COMPANY
[directly owns 0.08% of Edison Funding Omicron Incorporated; see
listing under Edison Housing Consolidation Company)
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04 EDISON CAPITAL HOUSING INVESTMENTS
[directly owns 0.35% of Edison Housing Consolidation Co.; see
listing under MHICAL 95 Company.]
[directly owns 35.52% of Edison Funding Omicron Incorporated; see
listing under Edison Housing Consolidation Co.]
05 1st Time Homebuyer Opportunities LP (Chester County Homes) 99%
05 1732 Champa LP (Buerger Brothers Lofts) 99%
05 18303 Kittridge Associates LP 99%
05 210 Washington Avenue Associates (Renaissance Plaza)
(Connecticut partnership) 99%
05 2400 Locust Associates LP (Locust on the Park) 99%
05 Abajo Del Sol LP 99.9%
05 Anglo Edison Pinecrest L.L.C. 99%
05 Apollo Development Associates LP (Apollo Hotel) 99.9%
05 Argyle Redevelopment Partnership, Ltd. (Colorado
partnership) 99%
05 Auburn Manor L.L.C. 50%
05 B.A.I. Anglo Edison Pinecrest, LLC (Pinecrest) 99%
05 Baldwin Village LP 99.9%
05 Bartlett Hill Associates LP 99%
05 Benton Green LP 99.9%
05 Bouquet Canyon Seniors LP 99%
05 Carson Terrace LP 99.9%
05 CCS/Bellingham LP (Washington Grocery Building) 99%
05 CCS/Mount Vernon Housing LP (La Venture) 99%
05 Cincinatti Ravenwood Apartments LP 99%
05 Conejo Valley Community Housing Associates (Community House
Apartments) 99%
05 Diamond Creek Apartments LP 99.9%
05 Don Avante Association I LP (Don de Dios) 99.9%
05 Don Avante Association II LP (Village Avante) 99.9%
05 EAST COAST CAPITAL, INC. (Massachusetts corporation)
Address: 240 Commercial Street, Boston, MA 02109-1336
05 EC ASSET SERVICES, INC. (Massachusetts corporation)
Address: 240 Commercial Street, Boston, MA 02109-1336
05 EC PROPERTIES, INC. (Massachusetts corporation)
Address: 240 Commercial Street, Boston, MA 02109-1336
06 Corporations for Affordable Housing LP 1%GP
07 Arbor Lane Associates Phase II LP (Timberwood) 99%
07 Arroyo Vista Associates LP 99%
07 Artloft Associates LP 35.6%
07 Caleb Affordable Housing Associates LP
(Ledges/Pinebrook) 99%
07 The Carlin LP 99%
07 Diamond Phase III Venture LP 99%
07 Fairmont Hotel Urban Renewal Associates LP 99%
07 Mackenzie Park Associates LP 99%
07 Parkside Associates LP (Parkside Garden) 99%
07 Pines Housing LP 99%
07 Pines Housing II, LP 99%
07 Smyrna Gardens Associates LP 99%
07 Tioga Gardens LP 99%
07 Walden Pond, LP (Hamlet) 99%
06 Corporations for Affordable Housing LP II 1%GP
07 2601 North Broad Street Associates LP (Station House) 99%
07 Artloft Associates LP 53.39%
07 Brookline Housing Associates LLC (Bridgewater) 99%
07 EDA LP (Eagle's Nest) 99%
07 Edgewood Manor Associates II LP 99%
07 Gateway Housing LP (Gateway Townhomes) 99%
07 Homestead Village Associates LP 99%
07 Junction City Apartments LP (Green Park) 99%
07 Liberty House Associates LP 99%
07 Maple Ridge Development Associates LP 99%
07 Parsonage Cottage Senior Residence LP 99%
07 Rittenhouse School LP 99%
07 Silver City Housing LP 99%
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07 South 55th Street, LP 99%
07 W. M. Housing Associates LP (Williamsport Manor) 99%
07 Winnsboro Apartments LP (Deer Wood) 99%
05 EC PROPERTIES III, INC. (Massachusetts corporation)
Address: 240 Commercial Street, Boston, MA 02109-1336
06 Corporations for Affordable Housing LP III 1%GP
07 Piedmont Housing Associates 99%
07 Pines Housing III 99%
07 Salem Lafayette Urban Renewal Associates, LP 99%
07 Spring Valley Commons LP 99%
07 Stevenson Housing Associates (Park Vista) 99%
05 EC-SLP, INC. (Massachusetts corporation)
Address: 240 Commercial Street, Boston, MA 02109-1336
05 ECHI-A COMPANY
05 ECHI-B COMPANY
05 ECHI Wyvernwood, Inc. [dead project]
05 ECH/HFC GP Partnership No. 1 34.9%GP
06 Edison Capital Housing Partners VII LP 19.4%GP
07 C-Court LP (Cawelti Court) 99%
07 Cottonwood Affordable Housing LP 99%
07 Fifth & Wilshire Apartments LP 99%
07 Flagstaff Affordable Housing II, LP (Forest View
Apts.) 99%
07 Huff Avenue Associates LP 99%
07 Mountain View Townhomes Associates LP 99%
07 Oak Forest Associates LP 99%
07 Paradise Road Partners LP (Gateway Village) 99%
07 Woodland Arms Apartments, Ltd. 99%
05 ECH/HFC GP Partnership No. 2 56.7%GP
06 Edison Capital Housing Partners VIII LP 18.54%GP
07 Catalonia Associates LP 99%
07 Ohlone Housing Associates LP 99%
05 EDISON CAPITAL AFFORDABLE HOUSING 97 V
05 EDISON CAPITAL AFFORDABLE HOUSING 97 VI
05 EDISON CAPITAL AFFORDABLE HOUSING 97 VII
05 EDISON CAPITAL AFFORDABLE HOUSING 97 VIII
05 EDISON CAPITAL AFFORDABLE HOUSING 99A COMPANY
05 Edison Capital Affordable Housing 99A G.P. 27.69%GP
06 Edison Capital Housing Partners IX LP 13.5533%GP
07 1010 SVN Associates LP 99%
07 2814 Fifth Street Associates LP (Land Park Woods) 99%
07 Alma Place Associates LP 99%
07 Knolls Community Associates LP 99%
07 Monterra Village Associates LP 99%
07 Pacific Terrace Associates LP 99%
07 PVA LP (Park Victoria) 99%
07 Sherman Glen, L.L.C. 99%
07 Strobridge Housing Associates LP 99%
07 Trolley Terrace Townhomes LP 99%
07 Walnut Avenue Partnership LP 99%
05 EDISON CAPITAL AFFORDABLE HOUSING 99B COMPANY 99.99%
05 Edison Capital Affordable Housing 99B G.P. 99.99%GP
06 Edison Capital Housing Partners X LP 19.3952%GP
07 Beacon Manor Associates LP 99%
07 Boulder Creek Apartments LP 99%
07 Burlington Senior Housing LLC 99.9%
07 CCS/Renton Housing LP (Renton) 99%
07 Coolidge Station Apartments L.L.C. 99%
07 Lark Ellen LP 99%
07 Mercy Housing California IX LP (Sycamore) 99%
07 Morgan Hill Ranch Housing LP 99%
07 Pacifica Community Associates LP (Villa Pacifica) 99%
07 Persimmon Associates LP 99%
07 Providence-Brown Street Housing LP (Brown Street) 99%
07 San Juan Commons 1996 LP 99%
07 Timber Sound, Ltd. 99%
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07 Timber Sound II, Ltd. 99%
07 Trinity Park Apartments LP 99%
07 Venbury Trail LP 99%
06 Edison Capital Housing Partners XI LP 18.62486%GP
07 1475 167th Avenue Associates LP (Bermuda Gardens) 99.9%
07 Auburn Manor Apartments LP 99%
07 Barnsdall Court LP (Villa Mariposa) 99%
07 Borregas Court LP 99%
07 Bryson Family Apartments LP 99.9%
07 Carson Housing LP 99%
07 Casa Rampart LP (Rampart Apartments) 98.9%
07 Davis MHA Twin Pines Community Associates LP (Northstar
Apartments) 99%
07 Eastwood Homes LP 98.99%
07 Electra Arms Senior Associates LP 99%
07 Grace Housing LP 99%
07 Stony Point Apartment Investors LP (Panas Place) 99.9%
07 Wall Street Palmer House LP 99%
07 Wilmington Housing Associates LP (New Harbor Vista) 99.9%
06 Edison Capital Housing Partners XII LP 13.73759%GP
07 Cedarshores Limited Dividend Housing Association LP 98.99%
07 Heritage Partners LP 99%
07 Osage Terrace LP 99.89%
07 West Oaks Apartments LP 99.9%
07 Yale Street LP 99.9%
06 Edison Capital Housing Partners XIII LP 17.03513%GP
07 Alhambra Apartments LP 99.9%
07 Chamber Apartments LP 99%
07 Park Land Senior Apartments Investors LP (Banducci) 99.9%
07 President John Adams Manor Apartments LP 99%
07 Riverwalk Apartments, Ltd. (Colorado) 99%
07 Rosecreek Senior Living LP 99.9%
07 Twin Ponds Apartments LP 99%
07 Woodleaf Village LP 98.99%
07 Women's Westlake LP (Dorothy Day) 99%
05 Edison Capital Contributions VI Partners 91.77%GP
06 ECH Investor Partners VI-A LP 15.39%GP
07 Edison Capital Housing Partners VI LP 61.82%GP
08 Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
08 Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn
Apts. Phase II) 99%
08 Altamont Hotel Associates LP 99%
08 Bradley Manor Senior Apartments LP 99%
08 Double X Associates 1995 LP (Terrace Manor) 99%
08 Hamilton Place Apartments LP (Larkin Place) 99%
08 Hamilton Place Senior Living LP 99%
08 Hearthstone Group 3 LP (Evergreen Court) 99%
08 KDF Malabar LP 99%
08 LINC-Bristol Associates I, LP (City Gardens) 99%
08 MAS-WT, LP (Washington Terrace) 99%
08 Northwood Manor Associates LP 99%
08 Silver Lake Properties LP 99%
08 University Park Properties LP 99%
08 Upland Senior Housing LP (Coy D. Estes) 99%
08 Vista Properties LLC (Vista View) 99%
08 Vista Verde Townhomes II LLC 99%
06 ECH Investor Partners VI-B LP 15.39%GP
07 Edison Capital Housing Partners VI LP 37.18%GP
08 Admiralty Heights Associates II 1995 LP (Kent Manor) 99%
08 Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn
Apts. Phase II) 99%
08 Altamont Hotel Associates LP 99%
08 Bradley Manor Senior Apartments LP 99%
08 Double X Associates 1995 LP (Terrace Manor) 99%
08 Hamilton Place Apartments LP (Larkin Place) 99%
08 Hamilton Place Senior Living LP 99%
08 Hearthstone Group 3 LP (Evergreen Court) 99%
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08 KDF Malabar LP 99%
08 LINC-Bristol Associates I, LP (City Gardens) 99%
08 MAS-WT, LP (Washington Terrace) 99%
08 Northwood Manor Associates LP 99%
08 Silver Lake Properties LP 99%
08 University Park Properties LP 99%
08 Upland Senior Housing LP (Coy D. Estes) 99%
08 Vista Properties LLC (Vista View) 99%
08 Vista Verde Townhomes II LLC 99%
05 EDISON CAPITAL HOUSING DELAWARE, INC.
06 B.A.I. Edison Ravenwood LP (Ravenwood) 90%GP
07 Cincinatti Ravenwood Apartments LP 0.95%GP
05 Edison Capital Housing Partners V LP 16.38%GP
06 AMCAL Santa Barbara Fund XXXVI LP (Positano) 99%
06 Bodega Hills Investors LP 99%
06 Mercy Housing California IV LP (Vista Grande) 99%
06 Park Place Terrace LP 99%
06 River Walk Apartments Homes LP 99%
06 San Diego Golden Villa Partners LP (Golden Villa) 99%
06 Santa Alicia Gardens Townhomes LP (The Gardens) 99%
06 St. Hedwig's Gardens LP 99%
06 Sunshine Terrace LP 99%
06 Union Meadows Associates LLC 99%
05 EDISON CAPITAL HOUSING FLORIDA
05 EDISON CAPITAL HOUSING MANAGEMENT
06 JOHN STEWART COMPANY
Address: 1388 Sutter Street, 11th Floor, San Francisco,
CA 94109
07 2814 Fifth Street Associates LP (Land Park Woods) 0.5%GP
07 381 Turk Street LP 1%GP
07 Community Investment LP (Oak Village Apartments) 1%GP
07 Crescent Manor Associates LP 2.85%GP
07 Del Norte Place LP 18%GP
07 Jackie Robinson Apartments LP 1.67%GP
07 Larkspur Isle LP 0.5%GP
07 Las Casitas LP 0.5%GP
07 Mason Street Enterprises LP 1%GP
07 Mountain View Apartments LP 0.26%GP
07 Piper Court G.P. 50%GP
07 Shiloh Arms LP 1%GP/9.8%LP
07 St. John's LP 1%GP/19.6%LP
07 The IBEX Group 10%GP
07 Village East Apartments LP 3%GP
07 Woodhaven Senior Residences LP 1%GP
05 EDISON CAPITAL HOUSING NEW JERSEY
[owns 6.16% of Edison Housing Consolidation Co.; see listing
under MHICAL 95 Company.]
05 EDISON CAPITAL HOUSING NEW YORK
06 WPA/Edison LLC (Pier A) 99%
05 EDISON CAPITAL HOUSING PENNSYLVANIA
[owns 5.26% of Edison Housing Consolidation Co.; see listing
under MHICAL 95 Company.]
05 EDISON HOUSING NORTH CAROLINA
06 Edison Capital Contributions VI Partners 4.03%
07 ECH Investor Partners VI-A LP 15.39%GP
08 Edison Capital Housing Partners VI LP 61.82%GP
09 Admiralty Heights Associates II 1995 LP(Kent Manor)99%
09 Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn
Apts. Phase II) 99%
09 Altamont Hotel Associates LP 99%
09 Bradley Manor Senior Apartments LP 99%
09 Double X Associates 1995 LP (Terrace Manor) 99%
09 Hamilton Place Apartments LP (Larkin Place) 99%
09 Hamilton Place Senior Living LP 99%
09 Hearthstone Group 3 LP (Evergreen Court) 99%
09 KDF Malabar LP 99%
09 LINC-Bristol Associates I, LP (City Gardens) 99%
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09 MAS-WT, LP (Washington Terrace) 99%
09 Northwood Manor Associates LP 99%
09 Silver Lake Properties LP 99%
09 University Park Properties LP 99%
09 Upland Senior Housing LP (Coy D. Estes) 99%
09 Vista Properties LLC (Vista View) 99%
09 Vista Verde Townhomes II LLC 99%
07 ECH Investor Partners VI-B LP 15.39%GP
08 Edison Capital Housing Partners VI LP 37.18%GP
09 Admiralty Heights Associates II 1995 LP(Kent Manor)99%
09 Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn
Apts. Phase II) 99%
09 Altamont Hotel Associates LP 99%
09 Bradley Manor Senior Apartments LP 99%
09 Double X Associates 1995 LP (Terrace Manor) 99%
09 Hamilton Place Apartments LP (Larkin Place) 99%
09 Hamilton Place Senior Living LP 99%
09 Hearthstone Group 3 LP (Evergreen Court) 99%
09 KDF Malabar LP 99%
09 LINC-Bristol Associates I, LP (City Gardens) 99%
09 MAS-WT, LP (Washington Terrace) 99%
09 Northwood Manor Associates LP 99%
09 Silver Lake Properties LP 99%
09 University Park Properties LP 99%
09 Upland Senior Housing LP (Coy D. Estes) 99%
09 Vista Properties LLC (Vista View) 99%
09 Vista Verde Townhomes II LLC 99%
05 EDISON HOUSING OREGON, INC.
05 EDISON HOUSING SOUTH CAROLINA
06 Edison Capital Contributions VI Partners 4.20%
07 ECH Investor Partners VI-A LP 15.39%GP
08 Edison Capital Housing Partners VI LP 61.82%GP
09 Admiralty Heights Associates II 1995 LP(Kent Manor)99%
09 Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn
Apts. Phase II) 99%
09 Altamont Hotel Associates LP 99%
09 Bradley Manor Senior Apartments LP 99%
09 Double X Associates 1995 LP (Terrace Manor) 99%
09 Hamilton Place Apartments LP (Larkin Place) 99%
09 Hamilton Place Senior Living LP 99%
09 Hearthstone Group 3 LP (Evergreen Court) 99%
09 KDF Malabar LP 99%
09 LINC-Bristol Associates I, LP (City Gardens) 99%
09 MAS-WT, LP (Washington Terrace) 99%
09 Northwood Manor Associates LP 99%
09 Silver Lake Properties LP 99%
09 University Park Properties LP 99%
09 Upland Senior Housing LP (Coy D. Estes) 99%
09 Vista Properties LLC (Vista View) 99%
09 Vista Verde Townhomes II LLC 99%
07 ECH Investor Partners VI-B LP 15.39%GP
08 Edison Capital Housing Partners VI LP 37.18%GP
09 Admiralty Heights Associates II 1995 LP(Kent Manor)99%
09 Affordable/Citrus Glenn Phase II, Ltd. (Citrus Glenn
Apts. Phase II) 99%
09 Altamont Hotel Associates LP 99%
09 Bradley Manor Senior Apartments LP 99%
09 Double X Associates 1995 LP (Terrace Manor) 99%
09 Hamilton Place Apartments LP (Larkin Place) 99%
09 Hamilton Place Senior Living LP 99%
09 Hearthstone Group 3 LP (Evergreen Court) 99%
09 KDF Malabar LP 99%
09 LINC-Bristol Associates I, LP (City Gardens) 99%
09 MAS-WT, LP (Washington Terrace) 99%
09 Northwood Manor Associates LP 99%
09 Silver Lake Properties LP 99%
09 University Park Properties LP 99%
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09 Upland Senior Housing LP (Coy D. Estes) 99%
09 Vista Properties LLC (Vista View) 99%
09 Vista Verde Townhomes II LLC 99%
05 EHI DEVELOPMENT COMPANY
05 EHI DEVELOPMENT FUND
05 Emmanuel Grant Company LLC (Capitol Heights) 99.9%
05 Florence Apartments LLC 99%
05 Grandy Lake 1996 LP (Grandy Lake Residences) 99%
05 Harry Clark Jr. Residential Center LLC 99%
05 Hercules Senior Housing Associates 99.9%
05 Highland Village Partners LP 99.9%
05 Hilltop Farms LP 99.9%
05 Hotel Elkhart L.L.C. (The Cornerstone) 99%
05 Josephinum Associates LP, The (Washington partnership) 99%
05 Karen Partners LP 99.9%
05 KDF Park Glenn LP (Park Glenn) 99%
05 KDF Park Glenn Seniors LP (Park Glenn II) 99.9%
05 KDF Santa Paula LP (Santa Paula) 99%
05 Kennedy Lofts Associates LP (Massachusetts partnership) 99%
05 King Road Associates LP 99.9%
05 LL Housing LP (Maryland partnership) (Laurel Lakes) 99%
05 LL Housing L.L.C. 24.5%
05 Madison/Mollison LP (Park Mollison) 99%
05 Marlton Residences Associates LP 99%
05 MH I LP 1%GP
06 California Park Apartments LP 99%
05 MH II LP 1%GP
06 5363 Dent Avenue Associates LP 99%
05 MH III LP 1%GP
06 DeRose Housing Associates LP 99%
05 MH IV LP 1%GP
06 MPT Apartments LP (MacArthur Park) 99%
05 MH V LP 1%GP
06 Centennial Place LP 99%
05 MHICAL 94 COMPANY
[owns 19.32% of Edison Housing Consolidation Co.; see
listing under MHICAL 95 Company.]
05 MHICAL 94 LP (Delaware partnership) 1%GP
06 Mayacamas Village Associates LP 99%
06 Rincon De Los Esteros Associates LP 99%
06 West Capital Courtyard LP 99%
06 Winfield Hill Associates LP 99%
05 MHICAL 95 LP (Delaware partnership) 1%GP
06 Abby Associates LP (Windmere) 99%
06 Antelope Associates LP 99%
06 Baker Park Associates LP 99%
06 Bracher Associates LP 99%
06 Colina Vista LP 99%
06 Florin Woods Associates LP 99%
06 Mercy Housing California VI LP (205 Jones) 99%
06 Pinmore Associates LP 99%
06 Sunset Creek Partners LP 99%
05 MHICAL 96 LP (Delaware partnership) 1%GP
06 Greenway Village Associates LP 99%
06 Kennedy Court Partners LP 99%
06 Klamath Associates LP 99%
06 Sky Parkway Housing Associates LP 99%
06 Westgate Townhomes Associates LP 99%
05 MHICAL 95 COMPANY
06 ECH/HFC GP Partnership No. 2 43.3%
07 Edison Capital Housing Partners VIII LP 18.54%GP
08 Catalonia Associates LP 99%
08 Ohlone Housing Associates LP 99%
06 EDISON HOUSING CONSOLIDATION CO. (formerly Edison Housing
Georgia) 29.90%
07 EDISON FUNDING OMICRON INCORPORATED (Delaware
corporation) (formerly Edison Funding Omicron GP) 44.40%
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[also owned 0.08% by Edison Funding Company, 35.52% by
Edison Capital Housing Investments and 20.00% by The Connell
Company, an outside entity]
08 16th & Church Street Associates LP 99%
08 1856 Wells Court Partners, LP (Wells Court) 99%
08 AE Associates LP (Avenida Espana) 99%
08 Agape Housing LP 99%
08 Anglo Edison LLC No. 1 (Las Brisas) 99%
08 Anglo Edison Ravenwood L.L.C. 99%
08 Brantwood II Associates LP 99%
08 Brooks School Associates LP 99%
08 Bryn Mawr - Belle Shore LP (The) 99%
08 Bush Hotel LP 99%
08 Centertown Associates LP (Ravenwood) 99%
08 Centro Partners LP (El Centro) 99%
08 Cochrane Village Apartments LP 99%
08 Coyote Springs Apartments Associates LP 99%
08 Cypress Cove Associates 99%
08 Del Carlo Court Associates LP 99%
08 Delta Plaza Apartments LP 99%
08 EAH Larkspur Creekside Associates LP 99%
08 East Cotati Avenue Partners LP 99%
08 EDISON FUNDING OLIVE COURT 100%
09 Olive Court Housing Associates LP 0.6%
08 Edmundson Associates LP (Willows) 99%
08 El Barrio Academy Urban Renewal Associates, LP
(Academy Street) 99%
08 Elizabeth West & East LP 99%
08 Farm (The) Associates LP 99%
08 Fremont Building LP (Crescent Arms) 99%
08 Gilroy Redwood Associates LP (Redwoods) 99%
08 Ginzton Associates LP 99%
08 Grossman Apartments Investors LP 99%
08 Heartland-Wisconsin Rapids Timber Trails LLC
(Timber Trails) 99%
08 Heather Glen Associates LP 99%
08 HMB-Atlanta I LP (Spring Branch) 99%
08 Holy Family Associates LP 99%
08 Lackawana Housing Associates LLC (Goodwill Neighborhood
Residences) 99%
08 Maplewood School Apartments LP 99%
08 Mar Associates LP (Frank Mar) 99%
08 McFarland Press Associates LP 99%
08 Mercantile Housing LLC (Mercantile Square) 99%
08 Merrill Road Associates LP 99%
08 MH I LP 99%
09 California Park Apartments LP 99%
08 MHICAL 94 LP (Delaware partnership) 99%LP
09 Mayacamas Village Associates LP 99%
09 Rincon De Los Esteros Associates LP 99%
09 West Capital Courtyard LP 99%
09 Winfield Hill Associates LP 99%
08 MHICAL 95 LP (Delaware partnership) 99%LP
09 Abby Associates LP (Windmere) 99%
09 Antelope Associates LP 99%
09 Baker Park Associates LP 99%
09 Bracher Associates LP 99%
09 Colina Vista LP 99%
09 Florin Woods Associates LP 99%
09 Mercy Housing California VI LP (205 Jones) 99%
09 Pinmore Associates LP 99%
09 Sunset Creek Partners LP 99%
08 MHICAL 96 LP (Delaware partnership) 99%LP
09 Greenway Village Associates LP 99%
09 Kennedy Court Partners LP 99%
09 Klamath Associates LP 99%
09 Sky Parkway Housing Associates LP 99%
11
<PAGE>
09 Westgate Townhomes Associates LP 99%
08 Mid-Peninsula Century Village Associates LP
(Century Village) 99%
08 Mission Capp LP 99%
08 Mission Housing Partnership 1996 LP (Delaware
partnership) 99%LP
09 La Terraza Associates LP (Carlsbad Villas at Camino
Real) 99%
08 Neary Lagoon Partners LP 99%
08 North Park Village LLC 99%
08 Oceanside Gardens LP 99%
08 Omaha Amber Ridge LP (Amber Ridge) 99%
08 Open Door Associates LP (West Valley) 99%
08 Palmer House LP 99%
08 Pellettieri Homes Urban Renewal Associates, LP 99%
08 Richmond City Center Associates LP 99%
08 Riverside/Liebrandt Partners LP (La Playa) 99%
08 Roebling Village Inn Urban Renewal LP 99%
08 Rosebloom Associates LP (Oakshade) 99%
08 San Pablo Senior Housing Associates LP 99%
08 San Pedro Gardens Associates LP 99%
08 Santa Paulan Senior Apartments Associates LP
(The Paulan) 99%
08 South Beach Housing Associates LP (Steamboat) 99%
08 South Winery Associates LP (The Winery Apartments) 99%
08 Stoney Creek Associates LP 99%
08 Studebaker Building LP 99%
08 Sultana Acres Associates LP 99%
08 Thomson Rental Housing, LP (Washington Place) 99%
08 Tuscany Associates LP (Tuscany Villa) 99%
08 Villa Maria Housing LP 99%
08 Washington Creek Associates LP 99%
08 Westport Village Homes Associates LP 99%
08 Wheeler Manor Associates LP 99%
08 YWCA Villa Nueva Partners LP 99%
05 MHICAL 96 COMPANY
[owns 8.96% of Edison Housing Consolidation Co.; see
listing under MHICAL 95 Company.]
06 ECH/HFC GP Partnership No. 1 50.4%
07 Edison Capital Housing Partners VII LP 19.4%GP
08 C-Court LP (Cawelti Court) 99%
08 Cottonwood Affordable Housing LP 99%
08 Fifth & Wilshire Apartments LP 99%
08 Flagstaff Affordable Housing II, LP (Forest View
Apts.) 99%
08 Huff Avenue Associates LP 99%
08 Mountain View Townhomes Associates LP 99%
08 Oak Forest Associates LP 99%
08 Paradise Road Partners LP (Gateway Village) 99%
08 Woodland Arms Apartments, Ltd. 99%
06 Edison Capital Affordable Housing 99A G.P. 36.47%
07 Edison Capital Housing Partners IX LP 13.5533%GP
08 1010 SVN Associates LP 99%
08 2814 Fifth Street Associates LP (Land Park Woods) 99%
08 Alma Place Associates LP 99%
08 Knolls Community Associates LP 99%
08 Monterra Village Associates LP 99%
08 Pacific Terrace Associates LP 99%
08 PVA LP (Park Victoria) 99%
08 Sherman Glen, L.L.C. 99%
08 Strobridge Housing Associates LP 99%
08 Trolley Terrace Townhomes LP 99%
08 Walnut Avenue Partnership LP 99%
05 MHICAL 97 COMPANY
06 ECH/HFC GP Partnership No. 1 14.7%
07 Edison Capital Housing Partners VII LP 19.4%GP
08 C-Court LP (Cawelti Court) 99%
12
<PAGE>
08 Cottonwood Affordable Housing LP 99%
08 Fifth & Wilshire Apartments LP 99%
08 Flagstaff Affordable Housing II, LP (Forest View
Apts.) 99%
08 Huff Avenue Associates LP 99%
08 Mountain View Townhomes Associates LP 99%
08 Oak Forest Associates LP 99%
08 Paradise Road Partners LP (Gateway Village) 99%
08 Woodland Arms Apartments, Ltd. 99%
06 Edison Capital Affordable Housing 99A G.P. 33.05%
07 Edison Capital Housing Partners IX LP 13.5533%GP
08 1010 SVN Associates LP 99%
08 2814 Fifth Street Associates LP (Land Park Woods) 99%
08 Alma Place Associates LP 99%
08 Knolls Community Associates LP 99%
08 Monterra Village Associates LP 99%
08 Pacific Terrace Associates LP 99%
08 PVA LP (Park Victoria) 99%
08 Sherman Glen, L.L.C. 99%
08 Strobridge Housing Associates LP 99%
08 Trolley Terrace Townhomes LP 99%
08 Walnut Avenue Partnership LP 99%
06 MHICAL 97 LP 99%LP
07 Garnet Housing Associates LP 99%
05 MHICAL 97 LP 1%GP
06 Garnet Housing Associates LP 99%
05 MHIFED 94 COMPANY
05 MHIFED 94 LP (Delaware partnership) 1%GP; 99%LP to Bell
Atlantic
06 Berry Avenue Associates LP 99%
06 Carlton Way Apartments LP 99%
06 CDR Senior Housing Associates (Casa del Rio) 99%
06 Corona Ely/Ranch Associates LP 99%
06 Fairview Village Associates LP 99%
06 Fell Street Housing Associates LP 99%
06 Hope West Apartments LP 99%
06 Morrone Gardens Associates LP 99%
06 Pajaro Court Associates LP 99%
06 Tierra Linda Associates LP 99%
06 Tlaquepaque Housing Associates LP 99%
05 MHIFED 95 COMPANY
05 MHIFED 95 LP (Delaware partnership) 1%GP; 99%LP to Bell
Atlantic
06 1101 Howard Street Associates LP 99%
06 Avalon Courtyard LP (Carson Senior Housing) 99%
06 Hollywood El Centro LP 99%
06 La Brea/Franklin LP 99%
06 Larkin Pine LP 99%
06 Mercy Housing California III LP (3rd & Reed) 99%
06 Pinole Grove Associates LP 99%
06 Second Street Center LP (Santa Monica) 99%
06 Solinas Village Partners LP 99%
06 Three Oaks Housing LP 99%
05 MHIFED 96 COMPANY
05 MHIFED 96 LP (Delaware partnership) 5%GP; 95%LP to Cargill
06 Lavell Village Associates LP 99%
06 North Town Housing Partners LP (Villa del Norte Village)
99%
06 Poco Way Associates LP 99%
06 Seasons Affordable Senior Housing LP 99%
05 MHIFED 96A COMPANY
05 MHIFED 96A LP (Delaware partnership) 1%GP; 99%LP to Bell Atlantic
06 Good Samaritan Associates LP 99%
06 Metro Senior Associates LP 99%
06 Oxnard Housing Associates LP 99%
06 Reseda Village LP 99%
13
<PAGE>
06 Round Walk Village Apartments LP 99%
06 Santa Alicia Family Housing Associates 99%
06 Vine Street Court LP 99%
06 Vine Street Court LP II 99%
05 MHIFED 97 COMPANY
06 MHIFED 97 LP 99%LP
05 MHIFED 97 LP 1%GP
05 Mid-Peninsula Sharmon Palms Associates LP (Sharmon Palms) 99%
05 MISSION HOUSING ALPHA
06 Lee Park Investors LP (Pennsylvania partnership) 99%
05 MISSION HOUSING BETA
[owns 2.58% of Edison Housing Consolidation Co.; see listing
under MHICAL 95 Company.]
05 MISSION HOUSING DELTA
[owns 1.07% of Edison Housing Consolidation Co.; see listing
under MHICAL 95 Company.]
06 MH II LP 99%
07 5363 Dent Avenue Associates LP 99%
06 MH III LP 99%
07 DeRose Housing Associates LP 99%
06 MH IV LP 99%
07 MPT Apartments LP (MacArthur Park) 99%
06 MH V LP 99%
07 Centennial Place LP 99%
05 MISSION HOUSING DENVER
[owns 5.67% of Edison Housing Consolidation Co.; see listing
under MHICAL 95 Company.]
05 MISSION HOUSING EPSILON
[owns 0.54% of Edison Housing Consolidation Co.; see listing
under MHICAL 95 Company.]
06 Edison Capital Affordable Housing 99A G.P. 2.78%
07 Edison Capital Housing Partners IX LP 13.5533%GP
08 1010 SVN Associates LP 99%
08 2814 Fifth Street Associates LP (Land Park Woods) 99%
08 Alma Place Associates LP 99%
08 Knolls Community Associates LP 99%
08 Monterra Village Associates LP 99%
08 Pacific Terrace Associates LP 99%
08 PVA LP (Park Victoria) 99%
08 Sherman Glen, L.L.C. 99%
08 Strobridge Housing Associates LP 99%
08 Trolley Terrace Townhomes LP 99%
08 Walnut Avenue Partnership LP 99%
05 MISSION HOUSING GAMMA
[owns 1.73% of Edison Housing Consolidation Co.; see
listing under MHICAL 95 Company.]
05 MISSION HOUSING HOLDINGS
[owns 13.10% of Edison Housing Consolidation Co.; see
listing under MHICAL 95 Company.]
05 Mission Housing Partnership 1996 LP (Delaware partnership)
1%GP
06 La Terraza Associates LP (Carlsbad Villas at Camino Real)
99%
05 MISSION HOUSING THETA
06 MISSION FUNDING THETA
[owns 0.01% of Edison Housing Consolidation Co.; see
listing under MHICAL 95 Company.]
07 Cedarshores Limited Dividend Housing Association LP
0.01%
07 Eastwood Homes LP 0.01%
07 Edison Capital Affordable Housing 99A G.P. 0.01%
08 Edison Capital Housing Partners IX LP 13.5533%GP
09 1010 SVN Associates LP 99%
09 2814 Fifth Street Associates LP (Land Park Woods)99%
14
<PAGE>
09 Alma Place Associates LP 99%
09 Knolls Community Associates LP 99%
09 Monterra Village Associates LP 99%
09 Pacific Terrace Associates LP 99%
09 PVA LP (Park Victoria) 99%
09 Sherman Glen, L.L.C. 99%
09 Strobridge Housing Associates LP 99%
09 Trolley Terrace Townhomes LP 99%
09 Walnut Avenue Partnership LP 99%
07 Edison Capital Affordable Housing 99B G.P. 0.01%
08 Edison Capital Housing Partners X LP 19.3952%GP
09 Beacon Manor Associates LP 99%
09 Boulder Creek Apartments LP 99%
09 Burlington Senior Housing LLC 99%
09 CCS/Renton Housing LP (Renton) 99%
09 Coolidge Station Apartments L.L.C. 99%
09 Lark Ellen LP 99%
09 Mercy Housing California IX LP (Sycamore) 99%
09 Morgan Hill Ranch Housing LP 99%
09 Pacifica Community Associates LP (Villa Pacifica)
99%
09 Persimmon Associates LP 99%
09 Providence-Brown Street Housing LP (Brown Street)
99%
09 San Juan Commons 1996 LP 99%
09 Timber Sound, Ltd. 99%
09 Timber Sound II, Ltd. 99%
09 Trinity Park Apartments LP 99%
09 Venbury Trail LP 99%
07 Oakdale Terrace Leased Housing Associates LP 0.01%
07 Westfield Condominium Investment LP 0.01%
07 Woodleaf Village LP 0.01%
06 Mission Housing Investors Partnership 5%GP; 95%LP to
GECC
07 1028 Howard Street Associates LP 99%
07 Forest Winds Associates LP 99%
07 Glen Eden Associates LP (A Street) 99%
07 Gray's Meadows Investors LP 99%
07 Prince Bozzuto LP (Fairground Commons) (Maryland
partnership) 99%
07 Rancho Park Associates LP 99%
07 Rustic Gardens Associates LP 99%
07 Sea Ranch Apartments LP 99%
07 Springdale Kresson Associates LP (Jewish Federation)
(New Jersey partnership) 99%
05 MISSION HOUSING ZETA
[owns 5.35% of Edison Housing Consolidation Co.; see
listing under MHICAL 95 Company.]
05 MISSION SA COMPANY
05 National Boston Lofts Associates LLLP (Boston Lofts) 99%
05 Oakdale Terrace Leased Housing Associates LP 98.99%
05 OL Hope LP (Olympic Hope) 99.9%
05 Olive Court Apartments LP 98.9%
05 Ontario Senior Housing LP (Ontario Plaza) 99%
05 Park Place 1998, LLC 99.9%
05 Park Williams Partners LP 99.9%
05 Parkview Apartments Associates LP (Parkview/Sunburst)
99.9%
05 Pecan Court Associates LP 99%
05 Pilot Grove LP (Massachusetts partnership) 99%
05 Pinewood on Wisconsin Apartments 99%
05 Post Office Plaza LP (Ohio partnership) 99%
05 Preservation Properties I 99.9%
05 Preservation Properties II 99.9%
05 Preservation Properties III 99.9%
05 Preservation Properties IV 99.9%
05 Preservation Properties V 99.9%
15
<PAGE>
05 Project Home I LLC 99.99%
05 Red Lake LP #1 99%
05 San Martin de Porres LP 99.9%
05 Saratoga Vacaville LP (Saratoga Senior) 99.9%
05 Schoolhouse Court Housing Associates LP 99%
05 Serena Sunbow LP (Villa Serena) 99.9%
05 Southern Hotel LP 99.9%
05 Springdale Preservation LP (Springdale West) 99.9%
05 Tabor Grand LP (Colorado partnership) 99%
05 Terra Cotta Housing Associates LP 99.9%
05 Vista Sonoma Senior Living LP 99.9%
05 WGA INVESTORS COMPANY [dead project]
05 West Valley Hart LP (Hart & Alabama) 99.9%
05 Westfair LLC (Cedar Ridge)
05 Westfield Condominium Investment LP 98.99%
05 White Mountain Apache LP 99%
05 Wingate LLC (Regency Park) 99.9%
04 EDISON INTEGRATED ENERGY SERVICES
04 MISSION FIRST ASSET INVESTMENT
04 MISSION FUNDING BETA
04 MISSION FUNDING EPSILON
05 EDISON CAPITAL (BERMUDA) INVESTMENTS, LTD. (Bermuda
corporation)
Address: Clarendon House, 2 Church Street, Hamilton HM CX,
Bermuda
06 Edison Capital LAI (Bermuda) Ltd. (Bermuda corporation)
Address: Clarendon House, 2 Church Street, P.O. Box
HM666, Hamilton HM CX, Bermuda
07 Trinidad and Tobago Methanol Company Limited (equity)
1.0%
06 Edison Capital Latin American Investments (Bermuda) Ltd.
(Bermuda corporation) 33.3%
Address: Clarendon House, 2 Church Street, P.O. Box
HM666, Hamilton HM CX, Bermuda
07 AIG Asian Infrastructure Fund II LP 5.8%
07 AIG-GE Capital Latin American Infrastructure Fund LP 8%
07 AIG Emerging Europe Infrastructure Fund LP 18.05%
07 AIG Emerging Europe Infrastructure Management LP 23.6%GP
05 EDISON CAPITAL INTERNATIONAL (BERMUDA) LTD.
Address: Clarendon House, 2 Church Street, P.O. Box HM666,
Hamilton HM CX, Bermuda
06 Edison Capital Latin American Investments (Bermuda) Ltd.
(Bermuda corporation) 33.3%
07 AIG Asian Infrastructure Fund II LP 5.8%
07 AIG-GE Capital Latin American Infrastructure Fund LP 8%
07 AIG Emerging Europe Infrastructure Fund LP 18.05%
07 AIG Emerging Europe Infrastructure Management LP 23.6%GP
06 Electricidad de La Paz S.A. (Electropaz) (equity) 10%
06 Lyonnaise Latin America Water Corporation Ltd. (equity)
25.8%
06 Olmeca Cable Investments Ltd. (Mandeville Mexico, S.A.)
21.7%
05 Edison Capital Latin American Investments Holding Company
(Delaware corporation)
06 Edison Capital Latin American Investments (Bermuda) Ltd.
(Bermuda corporation) 33.3%
07 AIG Asian Infrastructure Fund II LP 5.8%
07 AIG-GE Capital Latin American Infrastructure Fund LP 8%
07 AIG Emerging Europe Infrastructure Fund LP 18.05%
07 AIG Emerging Europe Infrastructure Management LP 23.6%GP
05 EDISON CAPITAL (NETHERLANDS) HOLDINGS B.V.
Address: Aert van Nesstraat 45, 3012 CA Rotterdm, The
Netherlands
06 EDISON CAPITAL (NETHERLANDS) INVESTMENTS B.V.
Address: Aert van Nesstraat 45, 3012 CA Rotterdm, The
Netherlands
16
<PAGE>
07 HpC King's College Hospital (Holdings) Limited 20%
07 Summit Holdings (Law) Limited (Law Hospital) 20%
05 GEM Energy Company (New York partnership) 50%GP
05 MISSION FUNDING ALPHA
06 MISSION FUNDING MU
07 EPZ Mission Funding Mu Trust (equity interest in foreign
utility company) [see 4.01]
05 MISSION FUNDING DELTA
06 MISSION FUNDING NU
07 EPZ Mission Funding Nu Trust (equity interest in foreign
utility company) [see 4.02]
05 MISSION INVESTMENTS, INC. (U.S. Virgin Islands corporation)
Address: ABN Trustcompany, Guardian Building, Havensight,
2nd Floor, St. Thomas, U.S. Virgin Islands
05 MISSION (BERMUDA) INVESTMENTS, LTD. (Bermuda corporation)
Address: Clarendon House, 2 Church Street,
Hamilton HM CX, Bermuda
04 MISSION FUNDING GAMMA
04 MISSION FUNDING KAPPA
05 ABB Funding Partners, LP 14.27%
04 MISSION FUNDING ZETA
05 Huntington LP (New York partnership) 50%
05 Lakota Ridge LLC 75%
05 Shaokatan Hills LLC 75%
05 Woodstock Hills LLC 75%
04 MISSION IOWA WIND COMPANY
05 Storm Lake Power Partners I LLC (99%)
03 EDISON MORTGAGE COMPANY
03 MISSION BARTLETT HILL COMPANY
03 MISSION INTERNATIONAL CAPITAL, INC.
03 RENEWABLE ENERGY CAPITAL COMPANY
02 MISSION LAND COMPANY is a California corporation having its principal
place of business at 18101 Von Karman Avenue, Suite 800, Irvine,
California 92612-1046. It is engaged, directly and through its
subsidiaries, in the business of owning, managing and selling
industrial parks and other real property investments. The subsidiaries
and partnerships of Mission Land Company are listed below. Unless
otherwise indicated, all entities are corporations, are organized
under the laws of the State of California, and have the same principal
place of business as Mission Land Company.
03 ASSOCIATED SOUTHERN INVESTMENT COMPANY
03 CALABASAS PALATINO, INC. (Inactive)
03 Carol Stream Developers G.P. (Illinois partnership) 60%GP
03 Centrelake Partners, LP (limited partnership) 98%GP
03 IRWINDALE LAND COMPANY (Inactive)
03 MISSION AIRPORT PARK DEVELOPMENT CO.
04 Carol Stream Developers G.P. (Illinois partnership) 40%GP
04 Centrelake Partners, LP (limited partnership) 2%LP
04 Mission Vacaville LP (limited partnership) 1%GP
03 MISSION INDUSTRIAL CONSTRUCTORS, INC. (Inactive)
03 Mission-Oceangate 75%GP
03 MISSION/ONTARIO, INC. (Inactive)
03 MISSION SOUTH BAY COMPANY (Inactive)
04 Mission-Oceangate 25%GP
03 MISSION TEXAS PROPERTY HOLDINGS, INC. (Inactive)
03 Mission Vacaville LP (limited partnership) 99%LP
02 MISSION POWER ENGINEERING COMPANY is a California corporation having
its principal place of business at 18101 Von Karman Avenue, Suite
1700, Irvine, California 92612-1046. It is currently an inactive
company. The subsidiaries of Mission Power Engineering Company are
listed below. Unless otherwise indicated, all entities are
corporations, are organized under
17
<PAGE>
the laws of the State of California, and have the same principal place
of business as Mission Power Engineering Company.
03 ASSOCIATED SOUTHERN ENGINEERING COMPANY (Inactive)
02 EDISON MISSION ENERGY is a California corporation having its principal
place of business at 18101 Von Karman Avenue, Suite 1700, Irvine,
California 92612-1046. Edison Mission Energy owns the stock of a group
of corporations which, primarily through partnerships with
non-affiliated entities, are engaged in the business of developing,
owning, leasing and/or operating cogeneration, geothermal and other
energy or energy-related projects pursuant to the Public Utility
Regulatory Policies Act of 1978. Edison Mission Energy, through wholly
owned subsidiaries, also has ownership interests in a number of
independent power projects in operation or under development that
either have been reviewed by the Commission's staff for compliance
with the Act or are or will be exempt wholesale generators or foreign
utility companies under the Energy Policy Act of 1992. In addition,
some Edison Mission Energy subsidiaries have made fuel-related
investments and a limited number of non- energy related investments.
The subsidiaries and partnerships of Edison Mission Energy are listed
below. Unless otherwise indicated, all entities are corporations, are
organized under the laws of the State of California and have the same
principal place of business as Edison Mission Energy.
EDISON MISSION ENERGY DOMESTIC COMPANIES:
03 AGUILA ENERGY COMPANY (LP)
04 American Bituminous Power Partners, LP (Delaware limited
partnership) 49.5%; 50% with Pleasant Valley
05 American Kiln Partners, LP (Delaware limited partnership)
49.5% of 53%
03 ANACAPA ENERGY COMPANY (GP)
04 Salinas River Cogeneration Company 50%
03 ARROWHEAD ENERGY COMPANY (Inactive)
03 BALBOA ENERGY COMPANY (GP)
04 Smithtown Cogeneration, LP (Delaware partnership) 50%; 100%
w/Kingspark
03 BERGEN POINT ENERGY COMPANY (GP)
04 TEVCO/Mission Bayonne Partnership (Delaware G.P.) 50%
05 Cogen Technologies NJ Ventures (Delaware G.P.) 0.75%
04 Cogen Technologies NJ Ventures (Delaware G.P.) 0.375%
03 BLUE RIDGE ENERGY COMPANY (GP)
04 Bretton Woods Cogeneration, LP (Delaware limited partnership)
50%; 100% w/Bretton Woods
03 BRETTON WOODS ENERGY COMPANY (GP & LP)
04 Bretton Woods Cogeneration, LP (Delaware LP) 50%; 100%
w/Blue Ridge
03 CAMINO ENERGY COMPANY (GP)
04 Watson Cogeneration Company (general partnership) 49%
03 CAPISTRANO COGENERATION COMPANY (GP)
04 James River Cogeneration Company (North Carolina partnership) 50%
03 CENTERPORT ENERGY COMPANY (GP & LP)
04 Riverhead Cogeneration I, LP (Delaware partnership) 50%; 100%
w/Ridgecrest
03 CHESAPEAKE BAY ENERGY COMPANY (GP)
04 Delaware Clean Energy Project (Delaware general partnership) 50%
03 CHESTER ENERGY COMPANY (no partners; option Chesapeake,VA)
03 CLAYVILLE ENERGY COMPANY
04 Oconee Energy, LP (Delaware LP) 50%; 100% w/Coronado
03 COLONIAL ENERGY COMPANY (Inactive)
03 CORONADO ENERGY COMPANY
04 Oconee Energy, LP (Delaware LP) 50%; 100% w/Clayville
03 DEL MAR ENERGY COMPANY (GP)
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<PAGE>
04 Mid-Set Cogeneration Company 50%
03 DELAWARE ENERGY CONSERVERS, INC. (Delaware corporation) (Inactive)
03 DESERT SUNRISE ENERGY COMPANY (Nevada corporation) (Inactive)
03 DEVEREAUX ENERGY COMPANY (LP)
04 Auburndale Power Partners, LP (Delaware LP) 49%LP; 50% w/El
Dorado [see 4.03]
03 EASTERN SIERRA ENERGY COMPANY (GP & LP)
04 Saguaro Power Company, LP 50%
03 EAST MAINE ENERGY COMPANY (Inactive) [dissolving]
03 EDISON ALABAMA GENERATING COMPANY
03 EDISON MISSION ENERGY FUEL
04 EDISON MISSION ENERGY OIL AND GAS
05 Four Star Oil & Gas Company 50.1% (owns Lost Hills
Cogeneration Facility)
04 EDISON MISSION ENERGY PETROLEUM (Gas contracts w/ Tex. Gas Mktg)
04 POCONO FUELS COMPANY (Inactive)
04 SOUTHERN SIERRA GAS COMPANY
05 TM Star Fuel Company (general partnership) 50%
03 EDISON MISSION ENERGY FUEL SERVICES, INC. [PowerGen project]
03 EDISON MISSION ENERGY FUNDING CORP. (Delaware corporation) 1%
03 EDISON MISSION ENERGY GLOBAL MANAGEMENT, INC. (Delaware corporation)
04 MAJESTIC ENERGY LIMITED (UK private limited company)
Address: Lansdowne House, Berkeley Square, London W1X 5DH
England
05 EME ROYALE (New Zealand private limited company)
Address: Lansdowne House, Berkeley Square, London W1X 5DH
England
06 EDISON MISSION ENERGY TAUPO LIMITED (New Zealand company)
100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
07 CONTACT ENERGY LIMITED (New Zealand company) (equity)
40% [see 4.11]
Address: Level 1, Harbor City Tower, 29 Brandon Street,
Wellington, New Zealand
03 Edison Mission Energy Interface Ltd. (British Columbia company)
Address: 2 Sheppard Ave. E. #200, North York, Ontario, Canada
04 The Mission Interface Partnership (Province of Ontario G.P.) 50%
03 EDISON MISSION FUEL TRANSPORTATION, INC.
03 EDISON MISSION FUEL RESOURCES, INC.
03 EDISON MISSION FINANCIAL MARKETING & TRADING CO.
04 EDISON MISSION MARKETING & TRADING, INC.
03 EDISON MISSION HOLDINGS CO. (formerly EME Homer City Holdings Co.)
04 CHESTNUT RIDGE ENERGY COMPANY 100%
05 EME Homer City Generation LP (Pennsylvania) 99%LP [see 4.08]
04 EDISON MISSION FINANCE CO. 100%
04 HOMER CITY PROPERTY HOLDINGS, INC. 100%
04 MISSION ENERGY WESTSIDE, INC. 100%
05 EME Homer City Generation LP (Pennsylvania) 1%GP [see 4.08]
03 EDISON MISSION OPERATION & MAINTENANCE, INC. (no partnership)
04 Mission Operations de Mexico, S.A. de C.V. 99%
03 EDISON MISSION PROJECT CO. (formerly EME UK International, Inc.)
(Delaware corp) 100%
03 EL DORADO ENERGY COMPANY (GP)
04 Auburndale Power Partners, LP (Delaware LP) 1%GP; 50% w/
Devereaux [see 4.03]
03 EMP, INC. (Oregon corporation) (GP & LP) (Inactive)
03 FOUR COUNTIES GAS COMPANY (Inactive)
03 GLOBAL POWER INVESTORS, INC.
03 HANOVER ENERGY COMPANY
04 Chickahominy River Energy Corp. (Virginia corporation) (GP & LP)
05 Commonwealth Atlantic LP (Delaware partnership) [see 4.05]
50%
03 HOLTSVILLE ENERGY COMPANY (GP & LP)
04 Brookhaven Cogeneration, LP (Delaware partnership) 50%; 100% w/Madera
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<PAGE>
03 INDIAN BAY ENERGY COMPANY (GP & LP)
04 Riverhead Cogeneration III, LP (Delaware partnership) 50%; 100%
w/Santa Ana
03 JEFFERSON ENERGY COMPANY (GP & LP) (Inactive)
03 KINGS CANYON ENERGY COMPANY (Inactive)
03 KINGSPARK ENERGY COMPANY (GP & LP)
04 Smithtown Cogeneration, LP (Delaware partnership) 50%; 100%
w/Balboa
03 LAGUNA ENERGY COMPANY (Inactive) (former interest in Ambit)
03 LA JOLLA ENERGY COMPANY (Inactive) (used for Belridge)
03 LAKEVIEW ENERGY COMPANY
04 Georgia Peaker, LP (Delaware LP) 50%; 100% w/Silver Springs
03 LEHIGH RIVER ENERGY COMPANY (Inactive)
03 LONGVIEW COGENERATION COMPANY (held for Weyerhauser)
03 MADERA ENERGY COMPANY (GP)
04 Brookhaven Cogeneration, LP (Delaware partnership) 50%; 100%
w/Holtsville
03 MADISON ENERGY COMPANY (LP)
04 Gordonsville Energy, LP (Delaware partnership) 49%;
50% w/Rapidan [see 4.06]
03 MIDWEST GENERATION EME, LLC (Delaware LLC) 100%
Address: One Financial Place, 400 South LaSalle Street, Suite
3410, Chicago, Illinois 60605
04 COLLINS HOLDINGS EME, LLC
Address: One Financial Place, 400 South LaSalle Street, Suite
3410, Chicago, Illinois 60605
04 EDISON MISSION MIDWEST HOLDINGS CO. 100%
Address: One Financial Place, 400 South LaSalle Street, Suite
3410, Chicago, Illinois 60605
05 EDISON MISSION OVERSEAS CO. (Com Ed project) 100%
Address: One Financial Place, 400 South LaSalle Street, Suite
3410, Chicago, Illinois 60605
06 EDISON MISSION OVERSEAS LTD. (Com Ed project) 100%
Address: One Financial Place, 400 South LaSalle Street,
Suite 3410, Chicago, Illinois 60605
05 MIDWEST GENERATION, LLC (Com Ed project) 100% [see 4.09]
Address: One Financial Place, 400 South LaSalle Street, Suite
3410, Chicago, Illinois 60605
03 Mission Capital, LP (Delaware LP) 3%; MIPS partnership
03 MISSION/EAGLE ENERGY COMPANY (Inactive)
03 MISSION ENERGY CONSTRUCTION SERVICES, INC. (Provides construction
services for Paiton Project)
03 MISSION ENERGY GENERATION, INC. (Inactive)
03 MISSION ENERGY HOLDINGS, INC.
04 Mission Capital, LP (Delaware LP) 97%; MIPS partnership
03 MISSION ENERGY HOLDINGS INTERNATIONAL, INC. [holds 100% of the
issued and outstanding Class A stock of MEC International B.V.
(99.99%)--see INTERNATIONAL section]
04 EME UK INTERNATIONAL LLC (Delaware LLC) 100% [holds 100% of the issued
and outstanding Class B stock of MEC International B.V.
(0.01%)--see INTERNATIONAL section]
03 MISSION ENERGY INDONESIA (Inactive)
03 MISSION ENERGY MEXICO (Inactive) formerly the branch office in
Mexico (no partnership)
03 MISSION ENERGY NEW YORK, INC. (GP & LP)
04 Brooklyn Navy Yard Cogeneration Partners, LP (Delaware
partnership) 50% [see 4.04]
Address: Flushing Avenue, Cumberland Street, Building 41,
Brooklyn, New York 11205
03 MISSION ENERGY WALES COMPANY
04 Mission Hydro Limited Partnership 30%
Address: Lansdowne House, Berkeley Square, London W1X 5DH
England
05 EME Generation Holdings Limited (UK company) 100%
20
<PAGE>
Address: Lansdowne House, Berkeley Square, London W1X 5DH
England
06 Loyvic Pty Ltd. (Australia company) 100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
07 Energy Capital Partnership (Australia partnership) 1%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
08 Enerloy Pty Ltd. (Australia company) 100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
06 EME Victoria Generation Limited (UK company) 100%
Address: Lansdowne House, Berkeley Square, London W1X 5DH
England
07 Energy Capital Partnership (Australia partnership 98%
08 Enerloy Pty Ltd. (Australia company) 100%
07 Mission Energy Development Australia Pty Ltd. 100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
08 Gippsland Power Pty Ltd 100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
09 Loy Yang B Joint Venture 49% [see 4.13]
Address: Bartons Lane, Loy Yang, Victoria, Australia
06 Energy Capital Partnership (Australia partnership) 1%LP
07 Enerloy Pty Ltd. (Australia company) 100%
06 First Hydro Holdings Company (Australia partnership) 99%
Address: Lansdowne House, Berkeley Square, London W1X 5DH
England
07 First Hydro Company 99% [see 4.16]
Address: Bala House, St. David's Park, Ewloe, Dlwyd,
Wales CH5 3XJ
07 First Hydro Finance plc 100%
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
08 First Hydro Company 1% [see 4.16]
Address: Bala House, St. David's Park
Ewloe, Dlwyd, Wales CH5 3XJ
03 Mission Operations de Mexico, S.A. de C.V. 1%
03 MISSION TRIPLE CYCLE SYSTEMS COMPANY (GP)
04 Triple Cycle Partnership (Texas G.P.) 50%
03 NORTH JACKSON ENERGY COMPANY (Inactive) [held for Akso Salt Proj]
03 NORTHERN SIERRA ENERGY COMPANY (GP)
04 Sobel Cogeneration Company (general partnership) 50%
03 ORTEGA ENERGY COMPANY (Mid-County Cogen gas contracts)
03 PANTHER TIMBER COMPANY (GP)
04 American Kiln Partners, LP (Delaware limited partnership) 2%
03 PARADISE ENERGY COMPANY (Inactive)
03 PLEASANT VALLEY ENERGY COMPANY (GP)
04 American Bituminous Power Partners, LP (Delaware limited
partnership) 0.5%; 50% w/Aguila
05 American Kiln Partners, LP (Delaware Limited Partnership)
0.5% of 53%
03 PRINCE GEORGE ENERGY COMPANY (LP)
04 Hopewell Cogeneration Limited Partnership (Delaware limited
partnership) 24.75%
04 Hopewell Cogeneration Inc. (Delaware corporation) 25%
05 Hopewell Cogeneration Limited Partnership (Delaware limited
partnership) 1%
03 QUARTZ PEAK ENERGY COMPANY (LP)
04 Nevada Sun-Peak LP (Nevada partnership) 50% [see 4.10]
03 RAPIDAN ENERGY COMPANY (GP)
04 Gordonsville Energy, LP (Delaware partnership) 1%;
50% w/Madison [see 4.06]
03 REEVES BAY ENERGY COMPANY (GP & LP)
21
<PAGE>
04 North Shore Energy LP (Delaware partnership) 50%; 100% w/Santa
Clara
05 Northville Energy Corporation (New York corporation) 100%
03 RIDGECREST ENERGY COMPANY (GP)
04 Riverhead Cogeneration I, LP (Delaware partnership) 50%; 100%
w/Centerport
03 RIO ESCONDIDO ENERGY COMPANY
03 RIVERPORT ENERGY COMPANY (GP & LP)
04 Riverhead Cogeneration II, LP (Delaware partnership) 50%; 100%
w/San Pedro
03 SAN GABRIEL ENERGY COMPANY (Inactive) (McKenzie gas contracts)
03 SAN JOAQUIN ENERGY COMPANY (GP)
04 Midway-Sunset Cogeneration Company, LP 50%
03 SAN JUAN ENERGY COMPANY (GP)
04 March Point Cogeneration Company 50%
03 SAN PEDRO ENERGY COMPANY (GP)
04 Riverhead Cogeneration II, LP (Delaware partnership) 50%; 100%
w/Riverport
03 SANTA ANA ENERGY COMPANY (GP)
04 Riverhead Cogeneration III, LP (Delaware partnership) 50%; 100%
w/Indian Bay
03 SANTA CLARA ENERGY COMPANY (GP)
04 North Shore Energy, LP (Delaware partnership) 50%; 100%
w/Reeves Bay
05 Northville Energy Corporation (New York corporation) 100%
03 SILVERADO ENERGY COMPANY (GP)
04 Coalinga Cogeneration Company 50%
03 SILVER SPRINGS ENERGY COMPANY
04 Georgia Peaker, LP (Delaware limited partnership) 50%; 100%
w/Lakeview
03 SONOMA GEOTHERMAL COMPANY (GP & LP)
04 Geothermal Energy Partners Ltd. (Aidlin) 5%LP
03 SOUTH COAST ENERGY COMPANY (GP)
04 Harbor Cogeneration Company 30% [see 4.07]
03 SOUTHERN SIERRA ENERGY COMPANY (GP)
04 Kern River Cogeneration Company (general partnership) 50%
03 THOROFARE ENERGY COMPANY (Inactive)
03 VIEJO ENERGY COMPANY (GP)
04 Sargent Canyon Cogeneration Company 50%
03 VISTA ENERGY COMPANY (New Jersey corporation) (Inactive)
03 WESTERN SIERRA ENERGY COMPANY (GP)
04 Sycamore Cogeneration Company (general partnership) 50%
EDISON MISSION ENERGY INTERNATIONAL COMPANIES:
04 MEC International B.V. (Netherlands corporation) (Holding
Company 99.99% owned by Mission Energy Holdings International,
Inc., a California corp. (owns 100% of Class A Shares) and
0.01% by EME UK International LLC, a Delaware LLC (owns 100%
of Class B shares)
Address: Apollolaan 15, 1077 AB Amsterdam, The Netherlands
05 Adelaide Ventures Ltd. (Cayman Island company) 100%
Address: Walker House, Mary Street, P.O. Box 265GT, George
Town, Grand Cayman, Cayman Islands
05 Beheer-en Beleggingsmaatschappij Botara B.V. (LYB Peakers
Project) 100%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Valley Power Pty Ltd. (proprietary limited Australia
company; LYB Peakers Project)
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
05 Edison Mission Energy Asia Pte Ltd. (Singapore private
company limited by shares) 100% (EME's Regional Asia
Pacific Headquarters)
Address: 391-B Orchard Road, Ngee Ann City, Tower B,
14th Floor, #14-08/10, Singapore 238874
06 Edison Mission Energy Asia Pacific Pte Ltd. (Singapore
22
<PAGE>
corporation) 100%
Address: 391-B Orchard Road, Ngee Ann City, Tower B,
14th Floor, #14-08/10, Singapore 238874
06 Edison Mission Energy Fuel Company Pte Ltd. (Singapore
corporation) 100%
Address: 391-B Orchard Road, Ngee Ann City, Tower B,
14th Floor, #14-08/10, Singapore 238874
06 Edison Mission Operation & Maintenance Services Pte Ltd
100%
Address: 391-B Orchard Road, Ngee Ann City, Tower B,
14th Floor, #14-08/10, Singapore 238874
06 P.T. Edison Mission Operation and Maintenance Indonesia
(Indonesian company) 99%
Address: Jl. Gen. A Yani No. 54
Probolinggo, East Java, Indonesia
05 Edison Mission Energy International B.V. (Netherlands
company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
05 Edison Mission Energy Services B.V. (Netherlands company)
100%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
05 Edison Mission Operation & Maintenance Services B.V.
(Netherlands company) 100%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Edison Mission Operation & Maintenance (Thailand) Company
Limited 100%
Address: 7th Fl. Bubhajit Bldg., 20 North Sathorn Road,
Kwaeng Silom, Khet Bangrak, Bangkok
06 EME Philippines O&M Corporation (Philippines company) 100%
Address: Unit 1105, Tower One, Ayala Triangle, Ayala
Avenue, Makati City, Philippines
05 EME Caliraya B.V. (formerly Beheer-en Beleggingsmaatschappij
Trepo B.V. 100%
Address: Apollolaan 15, 1077 AB Amsterdam, The Netherlands
05 EME Kayalaan B.V. (formerly Beheer-en Beleggingsmaatschappij
Hagra B.V. 100%
Address: Apollolaan 15, 1077 AB Amsterdam, The Netherlands
05 EME Tri Gen B.V. 100%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Tri Energy Company Limited (Thai limited liability
company)
(Tri Energy Project) (equity) 25% [see 4.22]
Address: 16th Floor, Grant Amarin Tower, New Petchburi
Road, Ratchathewi, Bangkok 10320 Thailand
05 EME Victoria B.V. 100% (Inactive)
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
05 Global Generation B.V. 100%
Address: Apollolaan 15, 1077 AB Amsterdam, The Netherlands
06 Caresale Services Limited
Address: Lansdowne House, Berkeley Square, London W1X
5DH England
06 Edison First Power Holdings I 100% [PowerGen project]
Address: Lansdowne House, Berkeley Square, London W1X
5DH England
07 Edison Mission Marketing and Services Limited (UK
company) 100%
Address: Lansdowne House, Berkeley Square, London W1X
5DH England
07 EME Finance UK Limited 100%
Address: Lansdowne House, Berkeley Square, London W1X
5DH England
07 Energy Generation Finance PLC 100%
Address: Lansdowne House, Berkeley Square, London W1X
5DH England
07 Maplekey Holdings Limited 100%
Address: Lansdowne House, Berkeley Square, London W1X
23
<PAGE>
5DH England
08 Maplekey UK Finance Limited (UK company) 100%
Address: Lansdowne House, Berkeley Square, London
W1X 5DH England
09 Maplekey UK Limited (UK company) 100%
Address: Lansdowne House, Berkeley Square, London
W1X 5DH England
10 Edison First Power Limited (Guernsey company)
100% [see 4.17]
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
07 South Australia Holdings Ltd. 100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria,
Australia
08 Edison Mission Ausone Pty Ltd. (Australian company)
100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria,
Australia
08 EME Adelaide Energy Ltd. (UK company) 100%
Address: Lansdowne House, Berkeley Square, London
W1X 5DH England
08 EME Monet Ltd. (UK company) 100%
Address: Lansdowne House, Berkeley Square, London
W1X 5DH England
09 Edison Mission De Laide Pty Ltd. (Australian
company) 100%
Address: Southgate Complex, Level 20, HWT
Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
09 Edison Mission Vendesi Pty Ltd. (Australian
company) 100%
Address: Southgate Complex, Level 20, HWT
Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
09 Edison Mission Utilities Pty. Ltd. (Australian
company) 100%
Address: Southgate Complex, Level 20, HWT
Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
06 Redbill Contracts Limited 100%
Address: Lansdowne House, Berkeley Square, London
W1X 5DH England
05 Hydro Energy B.V. (Netherlands limited liability company) 10%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Iberica de Energias, S.L. (Spain corp) 96.65% [see 4.18]
Address: Paseo de Gracia 18, Planta 4, 08007,
Barcelona, Spain
07 Electrometalurgica del Ebro, S.L. ("EMESA") (Spain
corporation) 91.32% [see 4.19]
Address: Paseo de Gracia 18, Planta 4, 08007,
Barcelona, Spain
08 Monasterio de Rueda, S.L. (Spain) 100%
Address: Paseo de Gracia 18, Planta 4, 08007,
Barcelona, Spain
05 Iberian Hy-Power Amsterdam B.V. (Netherlands limited
liability company) 100%
Address: Strawinskylaan 1725, Amsterdam, NOORD-HOLL
1077 XX
06 EME Desarrello Espana S.L. 100%
Address: Paseo de Gracia 18, 4o. Piso, 08007
Barcelona, Spain
06 Hydro Energy B.V. (Netherlands company) 90%
07 Iberica de Energias, S.L. (Spain corporation)
96.65% [see 4.18]
24
<PAGE>
08 Electrometalurgica del Ebro, S.L. ("EMESA") (Spain
corporation) 91.32% [see 4.19]
09 Monasterio de Rueda, S.L. (Spain) 100%
06 Iberica de Energias, S.L. (Spain corporation) 3.35%
[see 4.18]
07 Electrometalurgica del Ebro, S.L. ("EMESA") (Spain
corporation) 91.32% [see 4.19]
08 Monasterio de Rueda, S.L. (Spain) 100%
06 Saltos del Porma S.A.
Address: Paseo de Gracia 18, 4o. Piso, 08007 Barcelona,
Spain
05 Latrobe Power Pty. Ltd. (Australian corporation) 99%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
06 Mission Victoria Partnership (Australian partnership)
52.31% (100% w/ Traralgon PPL 46.69% and MEVALP 1%)
07 Latrobe Power Partnership (Australian partnership) 99%
08 Loy Yang B Joint Venture 51% [see 4.13]
Address: Bartons Lane, Loy Yang, Victoria, Australia
05 Loy Yang Holdings Pty Ltd (Australia corporation) 100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
06 Edison Mission Energy Holdings Pty Ltd (Australian corp.)
100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
07 Edison Mission Energy Australia Ltd. (Australian public
company) 100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
08 Latrobe Power Partnership (Australian partnership) 1%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
09 Loy Yang B Joint Venture 51% [see 4.13]
07 Edison Mission Energy Australia Pilbara Power Pty Ltd.
(Australia company) 100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
07 Edison Mission Operation & Maintenance Kwinana Pty Ltd.
(Australia) 100% (Operator of Kwinana Project)
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
07 Edison Mission Operation & Maintenance Loy Yang Pty Ltd.
(Australian corporation) 100%
Address: P.O. Box 1792, Traralgon, Victoria 3844,Australia
07 Mission Energy Holdings Superannuation Fund Pty Ltd.
(retirement fund required by Australia law) 100%
07 Mission Energy (Kwinana) Pty Ltd. (Australia) 100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
08 Kwinana Power Partnership (Australian G.P.) (equity) 1%
[see 4.12]
Address: Level 23, St. Martins Tower
44 St George's Terrace, Perth WA 6000
06 Latrobe Power Pty. Ltd. (Australian corporation) 1%
07 Mission Victoria Partnership (Australian partnership) 52.31%
08 Latrobe Power Partnership (Australian partnership) 99%
09 Loy Yang B Joint Venture 51% [see 4.13]
06 Mission Energy Ventures Australia Pty. Ltd. (Australian
company) 100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
07 Mission Victoria Partnership (Australian partnership) 1%
08 Latrobe Power Partnership (Australian partnership) 99%
09 Loy Yang B Joint Venture 51% [see 4.13]
25
<PAGE>
06 Traralgon Power Pty. Ltd. (Australian corporation) 1%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
07 Mission Victoria Partnership (Australian partnership)
46.69%
08 Latrobe Power Partnership (Australian partnership) 99%
09 Loy Yang B Joint Venture 51% [see 4.13]
05 MEC Esenyurt B.V. (Netherlands company) (Doga Project) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Doga Enerji Uretim Sanayi ve Ticaret L.S. (Turkish
corporation) (Project company) 80%
Address: Merkez Man, Mahallesi Caddesi 11/8,
Esenyurt, Istanbul, Turkey
06 Doga Isi Satis Hizmetleri ve Ticaret L.S. (Turkish
corporation) (Heat company) 80%
Address: Merkez Man, Mahallesi Caddesi 11/8,
Esenyurt, Istanbul, Turkey
06 Doga Isletme ve Bakim Ticaret L.S. (Turkish corporation)
(O&M company) 80%
Address: Merkez Man, Mahallesi Caddesi 11/8,
Esenyurt, Istanbul, Turkey
05 MEC IES B.V. (Netherlands company) (ISAB Project) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 ISAB Energy Services s.r.l. 49% (services co ISAB
Project)
Address: Ex S.S. 114km 146, 96100 Priolo G (SR), Sicily,
Italy
05 MEC India B.V. (Netherlands company) (Jojobera Project) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Edison Mission Energy Power (Mauritius corporation)
(Branch office in India)
Address: Louis Leconte Street, Curepipe, Mauritius
05 MEC Indo Coal B.V. (Netherlands company) (Adaro Project) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 P. T. Adaro Indonesia (equity) 10%
Address: Suite 704, World Trade Centre, Jl. Jend.
Sudirman Kav. 31, Jakarta 12920 Indonesia
05 MEC Indonesia B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 P. T. Paiton Energy (Indonesia company) (equity)
(Paiton Project) 40% [see 4.14]
Address: Menara Batavia, 8th Floor, Jl. K. H.
Mas Mansyur Kav. 126, Jakarta 10220 Indonesia
05 MEC International Holdings B.V. (Netherlands corp) 100%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Edison Mission Energy International B.V. (Netherlands
company) 1%
06 MEC Esenyurt B.V. (Netherlands company) (Doga Project) 1%
07 Doga Enerji Uretim Sanayi ve Ticaret L.S. (Turkish
corporation) (Project company) 80%
07 Doga Isi Satis Hizmetleri ve Ticaret L.S. (Turkish
corporation) (Heat company) 80%
07 Doga Isletme Bakim Ticaret L.S. (Turkish corporation)
(O&M company) 80%
06 MEC IES B.V. (Netherlands company) (ISAB Project) 1%
07 ISAB Energy Services s.r.l. 49%
06 MEC India B.V. (Netherlands company) 1%
07 Edison Mission Energy Power (Mauritius corporation)
06 MEC Indo Coal B.V. (Netherlands company) (Adaro Project) 1%
07 P. T. Adaro Indonesia (equity) 10%
06 MEC Indonesia B.V. (Netherlands company) 1%
07 P. T. Paiton Energy (Indonesia company) (equity)
(Paiton Project) 40% [see 4.14]
06 MEC Laguna Power B.V. (Netherlands company) (Thailand
Project) 1%
26
<PAGE>
07 Gulf Power Generation Co. Ltd. (Bangkok corporation) 40%
06 MEC Perth B.V. (Netherlands company) (Kwinana Project) 1%
07 Kwinana Power Partnership (Australian G.P.) (equity)
[see 4.12]
06 MEC Priolo B.V. (Netherlands company) (ISAB Project) 1%
07 ISAB Energy, s.r.l. (Italian J.V. company) (equity)
1% of 49% (quota, not shares) [see 4.23]
06 MEC San Pascual B.V. (Netherlands company) 1%
07 San Pascual Cogeneration Company International B.V. 50%
08 San Pascual Cogeneration Company (Philippines) Ltd.
(San Pascual Project) (equity) 1%GP and 74%LP
07 Morningstar Holdings B.V. (formerly Beheer-en
Beleggingsmaatschappij Vestra B.V.) 50%
06 MEC Sidi Krir B.V. (Netherlands company) 1%
06 MEC Sumatra B.V. (Netherlands company) 1%
06 MEC Wales B.V. (Netherlands Company) 1%
07 Mission Hydro Limited Partnership (UK limited
partnership)
08 EME Generation Holdings Limited (UK company) 100%
09 Loyvic Pty Ltd. (Australia company) 100%
10 Energy Capital Partnership (Australia
partnership) 1%
11 Enerloy Pty Ltd. (Australia company) 100%
09 EME Victoria Generation Limited (UK company) 100%
10 Energy Capital Partnership (Australia partnership
98%
11 Enerloy Pty Ltd. (Australia company) 100%
10 Mission Energy Development Australia Pty Ltd.
11 Gippsland Power Pty Ltd 100%
12 Loy Yang B Joint Venture 49% [see 4.13]
09 Energy Capital Partnership (Australia partnership)
1%LP
10 Enerloy Pty Ltd. (Australia company) 100%
09 First Hydro Holdings Company (Australia partnership)
99%
10 First Hydro Company 99% [see 4.16]
10 First Hydro Finance plc
11 First Hydro Company 1% [see 4.16]
06 Mission Energy Italia s.r.l. 10% (Office in Italy)
Address: via Mar della Cina, 304, 00144 Rome, Italy
06 P.T. Edison Mission Operation and Maintenance Indonesia
(Indonesian company) 1%
Address: Jl. Raya Surabaya Situbondo Km 141, P.O. Box 78,
Paiton 67291, Probolinggo, East Java, Indonesia
05 MEC Laguna Power B.V. (Netherlands co) (Malaya Project) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Gulf Power Generation Co. Ltd. (Bangkok corporation) 40%
Address: 888/101 Mahatun Plaza Tower, 10th Floor, Ploenchit,
Lumphini, Patumwan, Bangkok 10330
05 MEC Perth B.V. (Netherlands company) (Kwinana Project) 99%
06 Kwinana Power Partnership (Australian G.P.) (equity)
[See 4.12]
Address: Level 23, St. Martins Tower
44 St George's Terrace, Perth WA 6000
05 MEC Priolo B.V. (Netherlands company) (ISAB Project) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 ISAB Energy, s.r.l. (Italian J.V. company) (equity)
99% of 49% (quota, not shares) [see 4.23]
Address: Corso Gelone No. 103, Siracusa, Sicily, Italy
05 MEC San Pascual B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3521 CB Utrecht, The Netherlands
06 San Pascual Cogeneration Company International B.V. 50%
Address: Croeselaan 18, 3521 CB Utrecht, The Netherlands
07 San Pascual Cogeneration Company (Philippines) Ltd (San
Pascual Project) (equity) 1%GP and 74%LP
27
<PAGE>
Address: Unit 1610/1611, Tower One, Ayala Triangle,
Ayala Avenue, 1200 Makati City, Metro Manila,
Philippines
06 Morningstar Holdings B.V. (formerly Beheer-en
Beleggingsmaatschappij Vestra B.V.) 50%
Address: Croeselaan 18, 3521 CB Utrecht, The Netherlands
05 MEC Sidi Krir B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
05 MEC Sumatra B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
05 MEC Wales B.V. (Netherlands company) 99%
Address: Croeselaan 18, 3500 GT Utrecht, The Netherlands
06 Mission Hydro Limited Partnership 69%
Address: Lansdowne House, Berkeley Square,
London, England W1X 5DH
07 EME Generation Holdings Limited (UK company) 100%
Address: Lansdowne House, Berkeley Square, London
W1X 5DH England
08 Loyvic Pty Ltd. (Australia company) 100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria,
Australia
09 Energy Capital Partnership (Australia partnership)
1%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria,
Australia
10 Enerloy Pty Ltd. (Australia company) 100%
Address: Southgate Complex, Level 20, HWT
Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
08 EME Victoria Generation Limited (UK company) 100%
Address: Lansdowne House, Berkeley Square, London
W1X 5DH England
09 Energy Capital Partnership (Australia partnership
98%
10 Enerloy Pty Ltd. (Australia company) 100%
09 Mission Energy Development Australia Pty Ltd. 100%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria,
Australia
10 Gippsland Power Pty Ltd 100%
Address: Southgate Complex, Level 20, HWT
Tower, 40 City Road, South Melbourne, 3205
Victoria, Australia
11 Loy Yang B Joint Venture 49% [see 4.13]
Address: Bartons Lane, Loy Yang, Victoria,
Australia
08 Energy Capital Partnership (Australia partnership)
1%LP
09 Enerloy Pty Ltd. (Australia company) 100%
08 First Hydro Holdings Company (Australia partnership)
99%
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
09 First Hydro Company 99% [see 4.16]
Address: Bala House, St. David's Park
Ewloe, Dlwyd, Wales CH5 3XJ
09 First Hydro Finance plc 100%
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
10 First Hydro Company 1% [see 4.16]
Address: Bala House, St. David's Park
Ewloe, Dlwyd, Wales CH5 3XJ
05 Mission Energy Company (UK) Limited (United Kingdom
private limited company) 100%
28
<PAGE>
Address: Lansdowne House, Berkeley Square, London W1X 5DH
England
06 Derwent Cogeneration Limited (United Kingdom private
limited liability company) (equity) 33% [see 4.15]
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
06 Edison Mission Energy Limited (UK private limited
company) 100%
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
06 Edison Mission Operation & Maintenance Limited (a
United Kingdom corporation) 100%
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
06 Edison Mission Services Limited (UK private limited
company) 100%
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
06 Mission Hydro (UK) Limited 100%
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
07 First Hydro Holdings Company 1%
08 First Hydro Company 99% [see 4.16]
08 First Hydro Finance plc 100%
09 First Hydro Company 1% [see 4.16]
07 Mission Hydro Limited Partnership 1%GP
08 EME Generation Holdings Limited (UK company) 100%
09 Loyvic Pty Ltd. (Australia company) 100%
10 Energy Capital Partnership (Australia
partnership) 1%
11 Enerloy Pty Ltd. (Australia company) 100%
09 EME Victoria Generation Limited (UK company) 100%
10 Energy Capital Partnership (Australia
partnership 98%
11 Enerloy Pty Ltd. (Australia company) 100%
10 Mission Energy Development Australia Pty Ltd.
11 Gippsland Power Pty Ltd 100%
12 Loy Yang B Joint Venture 49% [see 4.13]
09 Energy Capital Partnership (Australia partnership)
1%LP
10 Enerloy Pty Ltd. (Australia company) 100%
09 First Hydro Holdings Company (Australia partnership)
99%
10 First Hydro Company 99% [see 4.16]
10 First Hydro Finance plc 99%
11 First Hydro Company 1% [see 4.16]
06 Mission (No. 2) Limited (UK private limited company) 100%
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
06 Pride Hold Limited (United Kingdom corporation) 99%
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
07 Lakeland Power Ltd. (United Kingdom private limited
liability company) 100% [see 4.20]
Address: Roosecote Power Station, Barrow-In-Furness,
Cumbria, England LA13 OPX
07 Lakeland Power Development Company (UK corporation) 100%
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
06 Rapid Energy Limited
Address: Lansdowne House, Berkeley Square, London
W1X 5DH England
05 Mission Energy Italia s.r.l. 90% Representative Office
in Italy
Address: Villa Brasini, Via Flaminia 497, 00191 Rome Italy
29
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05 Pride Hold Limited (United Kingdom corporation) 1%
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
06 Lakeland Power Ltd. (United Kingdom private limited
liability company) 100% [see 4.20]
Address: Roosecote Power Station, Barrow-In-Furness,
Cumbria, England LA13 OPX
06 Lakeland Power Development Company (UK corporation) 100%
Address: Lansdowne House, Berkeley Square,
London W1X 5DH England
05 Rillington Holdings Limited (Gibraltar) (Inactive)
Address: 57/63 Line Wall Road, Gibraltar
05 EcoElectrica S.a.r.l. (Luxemburg)
Address: 10, rue Antoine Jans, L-1820 Luxembourg
06 EME del Caribe Holding GmbH (Austria)
Address: 4020 Linz, Landstrasse 12, Austria
07 EME del Caribe (Cayman Islands)
Address: First Floor, Caledonian House, Mary Street,
George Town, Grand Cayman, Cayman Islands
08 EcoElectrica Holdings, Ltd. (Cayman Islands) 50%
Address: 1350 GT, The Huntlaw Building, Fort
Street, Grand Cayman, Cayman Islands
09 EcoElectrica Ltd. (Cayman Islands) 100%
Address: 1350 GT, The Huntlaw Building, Fort
Street,Grand Cayman, Cayman Islands
10 EcoElectrica LP (Bermuda partnership) (equity)
1%
Address: Plaza Scotiabank, 273 Ponce de Leon
Avenue, Suite 902, Hato Rey, Puerto Rico 00918
09 EcoElectrica LP (Bermuda partnership) (equity) 99%
Address: Plaza Scotiabank, 273 Ponce de Leon
Avenue, Suite 902, Hato Rey, Puerto Rico 00918
05 Southwestern Generation B.V. 100%
Address: Croeselaan 18, 3521 CB Utrecht, The Netherlands
05 Traralgon Power Pty. Ltd. (Australian corporation) 99%
Address: Southgate Complex, Level 20, HWT Tower,
40 City Road, South Melbourne, 3205 Victoria, Australia
06 Mission Victoria Partnership (Australian partnership)
46.69% (100% w/ Latrobe PPL 52.31% and MEVALP 1%)
07 Latrobe Power Partnership (Australian partnership)
99% (owns 51% of the Loy Yang B facility) [see 4.13]
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.
Claimant is not a "public utility company" as that term is defined in the
Public Utility Holding Company Act of 1935 (the "Act") and does not own any
properties used for the generation, transmission and distribution of electric
energy for sale, or for the production, transmission and distribution of natural
or manufactured gas. None of Claimant's subsidiaries, other than SCE, is a
public utility company. SCE is an "electric utility company" as defined in the
Act and owns properties used for the generation, transmission and distribution
of electric energy for sale, as described herein.
30
<PAGE>
SCE owns and operates one diesel-fueled generating plant, 37
hydroelectric plants and an undivided 75.05% interest in Units 2 and 3 of the
San Onofre Nuclear Generating Station. These plants are located in Central and
Southern California. SCE has sold all of its oil and gas fueled generating
plants. Pursuant to the sale agreements, SCE will continue to operate the plants
for two years after their sale. SCE has also been required to maintain the fuel
pipeline and storage system to support the divested gas plants in the event the
plants are required to burn oil in a system emergency. Of the above mentioned
hydroelectric plants, one of them, along with the diesel-fueled generating
plant, serve isolated load on Catalina Island. SCE also owns an undivided 15.8%
interest in Units 1, 2 and 3 of the Palo Verde Nuclear Generating Station,
located near Phoenix, Arizona, and an undivided 48% interest in Units 4 and 5 of
the Four Corners Project, a coal-fueled steam electric generating plant in New
Mexico, all of which are operated by other utilities. SCE operates and owns a
56% undivided interest in two coal-fueled steam electric generating units at the
Mohave Project in Clark County, Nevada. Schedule I attached hereto contains a
list of all of the SCE-owned generating plants with their locations, initial
dates of operation and generator nameplate ratings.
SCE's transmission facilities consist of approximately 7,228.4 circuit
miles of 33kV, 55kV, 66kV, 115kV and 161kV lines, 3,522.3 circuit miles of 220kV
lines, and 1235.9 circuit miles of 500kV lines consisting of 998.9 miles in
California, 125 miles in Nevada and 112 miles in Arizona. SCE's distribution
facilities consist of approximately 60,894 overhead circuit miles and 31,986
underground circuit miles, and 555 distribution substations, all of which are
located in California.
3. THE FOLLOWING INFORMATION FOR THE LAST CALENDAR YEAR WITH
RESPECT TO CLAIMANT AND EACH OF ITS SUBSIDIARY PUBLIC UTILITY
COMPANIES:
(a) NUMBER OF KWH. OF ELECTRIC ENERGY SOLD (AT RETAIL OR
WHOLESALE), AND MCF. OF NATURAL OR MANUFACTURED GAS
DISTRIBUTED AT RETAIL.
Claimant: None.
SCE: (1) 78,206,526,000 kwh of electric energy sold
at retail or wholesale.
(2) $7,046,046,114 of total revenues from such sales.
(b) NUMBER OF KWH. OF ELECTRIC ENERGY AND MCF. OF NATURAL
OR MANUFACTURED GAS DISTRIBUTED AT RETAIL OUTSIDE THE
STATE IN WHICH EACH COMPANY IS ORGANIZED.
Claimant: None.
SCE: 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.
Claimant: None.
SCE: (1) 90,491,000 kwh of electric energy sold at
wholesale outside of California or at the
state line.
(2) $14,977,267 of total revenues from such sales.
(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.
31
<PAGE>
Claimant: None.
SCE: (1) 3,136,911,352 kwh of electric energy purchased
at wholesale outside of California or at the
state line.
(2) $150,574,647 of total expenses from such
purchases.
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.
(b) NAMEOF EACH SYSTEM COMPANY THAT HOLDS AN INTEREST IN SUCH EWG OR
FOREIGN UTILITY COMPANY; AND DESCRIPTION OF THE INTEREST HELD.
(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.
(d) CAPITALIZATION AND EARNINGS OF THE EWG OR FOREIGN UTILITY COMPANY
DURING THE REPORTING PERIOD.
(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
REVENUESUNDER SUCH AGREEMENT(S).
EDISON CAPITAL
4.01 EPZ MISSION FUNDING MU TRUST [FUCO]
(a) EPZ Mission Funding MU Trust ("EPZMFMT") c/o Wilmington Trust
Company, Rodney Square North, 1100 North Market Square,
Wilmington, Delaware 19890-0004
EPZMFMT owns a 7.88% interest in the Amercentrale Power Station
Unit 9, which is leased to N.V.
Elektriciteits-Produktiemaatshappij Zuid-Nederland ("EPZ"), a
Netherlands Public Utility. The Amercentrale Power Station Unit 9
is a 600 megawatt (net) coal-fired cogeneration facility, with
natural gas back-up capability, located on 50 hectares
(approximately 125 acres) at the Brabandt site in Geertruidenberg,
approximately 50 kilometers southeast of Rotterdam, The
Netherlands.
EPZMFMT has also acquired an undivided interest in or the right to
use certain transmission facilities leading from the Amercentrale
Power Station to the 150 kV grid owned by Provinciale
Noordbrabantse Energie-Maatschappij ("PNEM"), the distribution
company that receives the power from Unit 9. EPZMFMT also owns an
interest in or rights to use transformers and associated equipment
of EPZ designed to step up the power from the 21 kV level at the
generator to the 150 kV level required to enter the PNEM system.
EPZMFMT has also acquired rights to use certain other common
facilities necessary to permit operation of Unit 9.
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<PAGE>
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Capital, which owns 100% of Edison
Funding Company, which owns 100% of Mission Funding Epsilon, which
owns 100% of Mission Funding Alpha, which owns 100% of Mission
Funding Mu. EPZMFMT is a business trust created under the laws of
the State of Delaware. Mission Funding Mu is the 100% beneficial
owner of the beneficial interest in EPZMFMT, the foreign utility
company. Wilmington Trust Company is the trustee of the Trust.
(c) Mission Funding Mu made a $13,000,000 equity investment in the
sale/leaseback, and funds were borrowed on a non-recourse basis in
the amount of $87,000,000, in order to acquire the interest in the
asset with a total cost of $100,000,000. Mission Funding Mu also
incurred out-of-pocket costs and fees of approximately $1,750,000.
The Mission Funding Mu investment and the related obligations have
been guaranteed by its parent, Mission Funding Alpha.
(d) Capitalization or total equity = $13,000,000 Net income after
taxes for 1999 = $1,028,762
(e) There are no contracts between EPZ and any system company.
4.02 EPZ MISSION FUNDING NU TRUST [FUCO]
(a) EPZ Mission Funding Nu Trust ("EPZMFNT")
c/o Wilmington Trust Company, Rodney Square North,
1100 North Market Square, Wilmington, Delaware 19890-0004
EPZMFNT owns a 17.72% interest in the Amercentrale Power Station
Unit 9, which is leased to N.V.
Elektriciteits-Produktiemaatshappij Zuid-Nederland ("EPZ"), a
Netherlands Public Utility. The Amercentrale Power Station Unit 9
is a 600 megawatt (net) coal-fired cogeneration facility, with
natural gas back-up capability, located on 50 hectares
(approximately 125 acres) at the Brabandt site in Geertruidenberg,
approximately 50 kilometers southeast of Rotterdam, The
Netherlands.
EPZMFNT has also acquired an undivided interest in or the right to
use certain transmission facilities leading from the Amercentrale
Power Station to the 150 kV grid owned by Provinciale
Noordbrabantse Energie-Maatschappij ("PNEM"), the distribution
company that receives the power from Unit 9. EPZMFNT also owns an
interest in or rights to use transformers and associated equipment
of EPZ designed to step up the power from the 21 kV level at the
generator to the 150 kV level required to enter the PNEM system.
EPZMFNT has also acquired rights to use certain other common
facilities necessary to permit operation of Unit 9.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Capital, which owns 100% of Edison
Funding Company, which owns 100% of Mission Funding Epsilon, which
owns 100% of Mission Funding Delta, which owns 100% of Mission
Funding Nu. EPZMFNT is a business trust created under the laws of
the State of Delaware. Mission Funding Nu is the 100% beneficial
owner of the beneficial interest in EPZMFNT, the foreign utility
company. Wilmington Trust Company is the trustee of the Trust.
(c) Mission Funding Nu made a $29,250,000 equity investment in the
sale/leaseback, and funds were borrowed on a non-recourse basis in
the amount of $195,750,000, in order to acquire the interest in
the asset with a total cost of $225,000,000. Mission Funding Nu
also incurred out-of-pocket costs and fees of approximately
$3,937,500.
The Mission Funding Nu investment and the related obligations have
been guaranteed by an affiliate, Mission Housing Investments.
(d) Capitalization or total equity = $29,250,000
33
<PAGE>
Net income after taxes for 1999 = $2,322,283
(e) There are no contracts between EPZ and any system company.
EDISON MISSION ENERGY
Americas
4.03 AUBURNDALE POWER PARTNERS, L.P. [EWG]
(a) Auburndale Power Partners, L.P. ("APP")
1501 West Derby Avenue, Auburndale, FL 33823
Auburndale's facilities consist of a 150MW topping-cycle
cogeneration facility fueled by natural gas. Electricity produced
by the facility is sold to Florida Power Corporation and certain
other wholesale purchasers. The facility also produces thermal
energy, which is sold to Cutrale Citrus Juices, USA and Todhunter
International, Inc. The facility is located near Auburndale in
Polk County, Florida, and went into operation on July 1, 1994.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy,
through its wholly owned subsidiary Devereaux Energy Company owns
a 49% limited partnership interest in Auburndale Power Partners,
L.P., and through its wholly owned subsidiary El Dorado Energy
Company owns a 1% general partnership interest in Auburndale Power
Partners, L.P.
(c) Capital contributions were made by Edison Mission Energy through
its subsidiaries Devereaux Energy Company in the amount of
$35,280,000 and El Dorado Energy Company in the amount of
$720,000, providing a total amount of $36,000,000.
(d) Capitalization or total equity = $6,341,558 Net loss after taxes
for 1999 = ($1,466,309)
(e) Edison Mission Operation & Maintenance, Inc. ("EMOM") operates
this facility. EMOM received $773,569 in compensation as
operator in 1999.
4.04 BROOKLYN NAVY YARD COGENERATION PARTNERS, L.P. [EWG]
(a) Brooklyn Navy Yard Cogeneration Partners, L.P. ("BNY")
Flushing Avenue, Cumberland Street, Building 41,
Brooklyn, New York 11205
BNY's facilities consist of a 286MW combined cycle cogeneration
facility located at Brooklyn Navy Yard Industrial Park in
Brooklyn, New York.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy,
through its wholly owned subsidiary Mission Energy New York, Inc.,
owns 50% of Brooklyn Navy Yard Cogeneration Partners, L.P., the
exempt wholesale generator.
(c) Capital contribution made by Edison Mission Energy through its
subsidiary Mission Energy New York, Inc., was in the amount of
$12,758,043. BNY completed a $407 million permanent non-recourse
financing for the project (the "Financing"). Edison Mission Energy
agreed to indemnify BNY and its partners from all claims and costs
arising from or in connection with certain construction litigation
between BNY (and its partners) and PMNC, as contractor for BNY.
Said indemnification has been assigned for the benefit of the
senior lenders of the Financing. Mission Energy New York, Inc.,
entered into a Construction Loan Note (approximately $94 million)
in favor of BNY to fund a portion of the project.
34
<PAGE>
(d) Capitalization or total equity = ($23,231,813) Net loss after
taxes for 1999 = ($14,823,481)
(e) Other than with respect to the Edison Mission Energy indemnity
and the Construction Loan Note as listed in Item (c) above, there
are no contracts between BNY and any system company.
4.05 COMMONWEALTH ATLANTIC L.P. [EWG]
(a) Commonwealth Atlantic Limited Partnership ("CALP")
2837 South Military Highway, Chesapeake, VA 23323-0286
CALP is a 340 MW natural gas and distillate oil fired peaking
power generation facility (the "Facility") selling power to
Virginia Power. The Facility went into operation on June 4, 1992.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy,
through its wholly owned subsidiary Hanover Energy Company owns
Chickahominy River Energy Corp. which owns a 1% general
partnership interest and a 49% limited partnership interest in
CALP.
(c) Chickahominy River Energy Corp. made a capital contribution of
$14,020,000 to CALP. Edison Mission Energy owns a 50% interest
through its wholly owned subsidiary Hanover Energy Company, in
CALP, which is the owner of the Facility.
(d) Capitalization or total equity = $10,917,166 Net income after
taxes for 1999 = $657,612
(e) There are no contracts between CALP and any system company.
4.06 GORDONSVILLE ENERGY, L.P. [EWG]
(a) Gordonsville Energy, L.P. ("GELP")
115 Red Hill Road, Gordonsville, VA 22942
GELP is a gas fired cogeneration facility with the anticipated net
capacity during the winter months of 290 megawatts and 220
megawatts during the summer months. The electricity generated by
the facility is sold to Virginia Electric & Power Company under
two executed 30-year Power Purchase Agreements. The steam
generated by the facility is sold to Rapidan Service Authority.
This facility is located one mile southwest of Gordonsville,
Virginia, in Louisa County. GELP went into operation on June 1,
1994.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy,
through its wholly owned subsidiary Madison Energy Company
("Madison") owns a 49% limited partnership interest in GELP, and,
through its wholly owned subsidiary Rapidan Energy Company
("Rapidan"), owns a 1% general partnership interest in GELP,
the exempt wholesale generator.
(c) Madison made a capital contribution of $25,237,450 and Rapidan
made a capital contribution of $515,050, providing a total amount
of $25,752,500.As a condition to receiving the extension of credit
necessary to develop GELP, Madison, Rapidan and Jefferson Energy
Company ("Jefferson"), a wholly owned subsidiary of Edison Mission
Energy which sold its interest to Northern Hydro Limited, entered
into separate Equity Subscription Agreements with GELP with the
condition that Edison Mission Energy guaranty the obligations
under such agreements by entering into an Equity Subscription
Agreement Guaranty for each of Madison, Rapidan and Jefferson in
an amount not to exceed an aggregate of $55,250,000.
(d) Capitalization or total equity = $28,538,563
35
<PAGE>
Net income after taxes for 1999 = $5,182,048
(e)Ed ison Mission Operation & Maintenance, Inc. ("EMOM") operates
this facility. EMOM received $715,860 in compensation as
operator in 1999.
4.07 HARBOR COGENERATION COMPANY [EWG]
(a) Harbor Cogeneration Company ("Harbor")
420 Henry Ford Avenue, Wilmington, CA 93210
Harbor, a California general partnership, was organized on March
12, 1987, and owns and operates an 80 MW cogeneration facility
located in the Wilmington Oil Field, in California near the City
of Long Beach.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy
owns 100% of South Coast Energy Company, which owns 30% general
partnership interests in Harbor, the exempt wholesale generator.
(c) Capital contributions were made by Edison Mission Energy through
its subsidiary South Coast Energy Company in the amount of
$3,577,468.
(d) Capitalization or total equity = $30,590,803 Net income after
taxes for 1999 = $14,597,000
(e) Edison Mission Marketing and Trading Co.,a wholly owned subsidiary
of Edison Mission Energy, provides services to Harbor, including
marketing, trading and selling of Energy (as defined in the Energy
Sales and Fuel Sales Agreement dated as of June 14, 1999, between
Harbor Cogeneration Company and Edison Mission Marketing and
Trading Co. (the "Agreement")" and Ancillary Services (as defined
in the Agreement) to third parties. As of December 31, 1999,
Edison Mission Marketing and Trading Co. has received $30,912 in
exchange for services provided to Harbor pursuant to the
Agreement.
4.08 EME HOMER CITY GENERATION L.P. [EWG]
(a) EME Homer City Generation L.P. ("Homer City")
1750 Power Plant Road, Homer City, PA 15748-8009
Homer City owns a 1,884 MW coal-fired generating station located
in Indiana County, approximately 45 miles northeast of Pittsburgh,
Pennsylvania.
(b) Edison International owns 100% of The Mission Group; The
Mission Group owns 100% of Edison Mission Energy; Edison
Mission Energy owns 100% of Edison Mission Holdings Co.;
Edison Mission Energy Holdings Co. owns 100% of EME Homer
City Generation L.P. through its wholly owned subsidiaries
Mission Energy Westside, Inc. and Chestnut Ridge Energy
Company. Mission Energy Westside, Inc. owns a 1% general
partnership interest in Homer City and Chestnut Ridge Energy
Company. owns a 99% limited partnership interest in Homer
City, the exempt wholesale generator.
(c) Capital contributions were made by Edison Mission Energy through
its subsidiary Edison Mission Energy Holdings Co. in the amount of
$1,066,889,469.
Guarantees:
Edison Mission Holdings Co. closed a $1.1 billion financing and
Edison Mission Energy closed a $700 million financing for the
acquisition by Homer City, a partnership comprised of wholly-owned
indirect subsidiaries of Edison Mission Energy, of the Homer City
Electric Generation Station.
36
<PAGE>
The Edison Mission Holdings Co. ("EM Holdings") financing is
structured on a limited recourse basis, in which the lenders look
primarily to the cash revenues of Homer City to repay the debt. In
connection with the EM Holdings financing and the issuance of $830
million senior secured bonds by EM Holdings in May 1999, Edison
Mission Energy entered into a Credit Support Guarantee under which
Edison Mission Energy agreed to guarantee the payment and
performance of the obligations of EM Holdings to the bond holders,
banks and other secured parties which financed the acquisition of
Homer City in an aggregate amount not to exceed approximately $42
million. This guarantee is to remain in place until December 31,
2001. In addition, to satisfy the requirements under the EM
Holdings financing to have a Debt Service Reserve Requirement in
an amount equal to six months' debt service projected to be due
following the payment of a distribution, Edison Mission Energy
entered into a Debt Service Reserve Guarantee under which Edison
Mission Energy agreed to guarantee the payment and performance of
the obligations of EM Holdings in the amount of approximately $35
million. The Edison Mission Energy financing consists of a 364 day
interest only revolving credit facility which is structured on a
recourse, unsecured basis.
Edison Mission Energy entered into a Guaranty dated as of August
1, 1998, wherein it guarantees all of the obligations of Mission
Energy Westside, Inc. under the Asset Purchase Agreement.
(d) Capitalization or total equity = $988,066,658 Net income after
taxes for 1999 = $27,628,089
(e) Edison Mission Energy Services, Inc. (formerly Edison Mission
Energy Fuel Services, Inc.) provides services to Homer City
relating to arranging for the supply of fuel to the facility
pursuant to the Fuel Services Agreement (the "Agreement")
between Edison Mission Energy Services, Inc. and Homer City.
As of December 31, 1999, Edison Mission Energy Services, Inc.
has received payment in the amount of $0 for services
provided pursuant to the Agreement.
Edison Mission Financial Marketing & Trading Co.("EMFMT"), an
ultimately wholly owned subsidiary of Edison Mission Energy, has
entered into that certain NOx Allowance Sales Agreement with Homer
City, wherein EMFMT is to purchase from Homer City, NOx Allowances
available to Homer City and not required for the use in the
operation and maintenance of the Homer City facility. As of
December 31, 1999, EMFMT has paid $34,675 to Homer City for NOx
Allowances.
Edison Mission Marketing & Trading, Inc.("EMMT"), an ultimately
wholly owned subsidiary of Edison Mission Energy entered into that
certain Energy Sales Agreement with Homer City, wherein EMMT shall
purchase from Homer City energy (defined as electric energy,
expressed in megawatt hours or capacity, of the character commonly
known as three-phase, sixty hertz electric energy that is
delivered at the nominal voltage of the delivery point). As of
December 31, 1999, EMMT has paid $196,432 to Homer City for energy
provided pursuant to the Agreement.
4.09 MIDWEST GENERATION, LLC. [EWG]
(a) Midwest Generation, LLC ("Midwest")
One Financial Place
440 South LaSalle Street, Suite 3410
Chicago, IL 60605
Midwest owns and/or leases and operates 9,510 MW of generating
capacity ("Facilities") acquired from Commonwealth Edison Company
and sells electric energy at wholesale. Facilities consist of (1)
six coal fired plants totaling 5,646 MW; (2) the 2,698 MW
dual-fueled Collins Station in Morris, Illinois; and (3) 71
dual-fueled peaking units at nine sites totaling 1,166 MW.
37
<PAGE>
(1) The facilities consist of six coal-fired plants located in
Illinois totaling 5,646 MW:
542 MW Crawford plant in Chicago
327 MW Fisk plant in Chicago
789 MW Waukegan plant in Waukegan
1358 MW Joliet plant in Joliet
1092 MW Will County plant in Lockport
1538 MW Powerton plant in Pekins
(2) 2,698 MW dual-fueled Collins Station in Morris, Illinois
(3) The peaking units are located at the Crawford, Fisk,
Waukegan, Calumet, Joliet, Bloom, Electric Junction,
Sabrooke, and Lombard Stations.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy
owns 100% of Midwest Generation EME, LLC; Midwest Generation EME,
LLC owns 100% of Edison Mission Midwest Holdings Co. which owns
100% of Midwest, the exempt wholesale generator.
(c) Capital contributions were made by Edison Mission Energy through
its subsidiary Edison Mission Midwest Holdings Co. in the amount
of $2,500,000,100.
Guarantees:
On March 22, 1999, Edison Mission Energy entered into agreements
to acquire 100% of the fossil-fuel generating assets of
Commonwealth Edison Company and to operate the plants, which are
all located in Illinois. The closing of the transaction occurred
on December 15, 1999. A list of Edison Mission Energy contingent
liabilities relating to the transaction is set forth below:
(1)Guaranty of Edison Mission Energy in favor of Northern Illinois
Gas Company, dated November 1, 1999 ("Guaranty"). The
agreements listed below (the "Nicor Agreements") were
assigned by Commonwealth Edison Company to Edison Mission
Marketing and Trading, Inc., a wholly owned subsidiary of
Edison Mission Energy, via an Assignment Agreement, dated
November 1, 1999, between Edison Mission Marketing &
Trading, Inc, Commonwealth Edison Company and Northern
Illinois Gas Company in connection with the asset sale. The
Guaranty executed by Edison Mission Energy guarantees Edison
Mission Marketing & Trading, Inc.'s performance of the Nicor
Agreements. The Guaranty contains a $10 million cap on
Edison Mission Energy's liability. The Nicor Agreements were
subsequently assigned by Edison Mission Marketing and
Trading, Inc. to Midwest Generation, LLC, a wholly owned
subsidiary of Edison Mission Energy, via an Assignment
Agreement, dated December 13, 1999, between Edison Mission
Marketing and Trading, Inc. and Midwest Generation, LLC.
Under the terms of the Guaranty, Edison Mission Energy
remains liable for Midwest Generation, LLC's performance of
the Nicor Agreements. The Nicor Agreements include:
Collins Gas Service Agreement between Commonwealth
Edison Company and Northern Illinois Gas Company,
dated March 25, 1996;
Agency Agreement between Commonwealth Edison Company
and Northern Illinois Gas Company, dated December 10,
1991;
Gas Service Agreement between Commonwealth Edison
Company and Northern Illinois Gas Company, dated
November 1, 1999;
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Operational Balancing Agreement between Commonwealth
Edison Company and Northern Illinois Gas Company, dated
April 29, 1996;
Multiple Accounts Contract between Commonwealth Edison
Company and Northern Illinois Gas Company, dated June 1,
1996; and
Critical Material Procurement Agreement between Commonwealth
Edison Company and Northern Illinois Gas Company, dated July
1, 1999.
(2) Agency Agreement, dated as of December 15, 1999, between
Commonwealth Edison Company, Edison Mission Midwest Holdings
Co. and Edison Mission Energy, relating to the Coal Purchase
Contract and the Railcar Lease Agreement ("Agency
Agreement"). Pursuant to the Agency Agreement, Edison
Mission Energy and its affiliates receive the benefits of
and are responsible for the liabilities under the agreements
listed below (the "Unassigned Agreements") to which
Commonwealth Edison Company is a party. Commonwealth Edison
Company acts as Edison Mission Energy's agent with respect
to the Unassigned Agreements and Edison Mission Energy is
responsible for 78% of Commonwealth Edison Company's costs
in managing the Unassigned Agreements. The Unassigned
Agreements include:
Amended and Restated Coal Purchase Contract between
Commonwealth Edison Company and Decker Coal Company dated
January 1, 1993, as further amended by Amendment No. 1 in
1993; Amendment No. 2 on June 16, 1994; Amendment No. 3 on
May 1, 1995; Amendment No.4 on January 1, 1996; Amendment
No. 5 on February 1, 1997; Amendment No. 6 on January 1,
1997; and Amendment No. 7 on February 1, 1999; and
Railcar Lease Agreement dated July 15, 1993, between
Commonwealth Edison Company and Society National Bank and
related documents.
(3) Guarantee, dated as of December 15, 1999 (the "Midwest
Guarantee") by Midwest Generation, LLC ("Midwest") in favor
of The Chase Manhattan Bank, as Administrative Agent under
the Holdings Credit Agreement (as defined below). Edison
Mission Midwest Holdings Co. ("Holdings"), certain lenders
and The Chase Manhattan Bank, as Administrative Agent for
such lenders entered into a credit agreement (the "Holdings
Credit Agreement"), dated as of December 15, 1999, pursuant
to which the lenders agreed to make loans to Holdings in an
aggregate principal amount not to exceed $1,829,000,000.
Under the Midwest Guarantee, Midwest absolutely and
unconditionally guarantees the obligations of Holdings under
the Holdings Credit Agreement.
(4) Lease Obligations Guarantee, dated as of December 15, 1999
(the "Lease Obligations Guarantee (T1)") by Holdings in
favor of Collins Trust I. Collins Trust I and Collins
Holdings EME, LLC ("Collins Holdings") entered into a
Facility Lease Agreement (T1) (the "Facility Lease (T1)")
and Collins Holdings entered into a Facility Sublease
Agreement (T1) (the "Facility Sublease (T1)") with Midwest,
each dated as of December 15, 1999. Under the Lease
Obligations Guarantee (T1), Holdings unconditionally and
absolutely guarantees the payment of rent, sublease rent and
termination value under both the Facility Lease (T1) and the
Facility Sublease (T1).
(5) Lease Obligations Guarantee, dated as of December 15, 1999
(the "Lease Obligations Guarantee (T2)") by Holdings in
favor of Collins Trust II. Collins Trust II and Collins
Holdings EME, LLC ("Collins Holdings") entered into a
Facility Lease Agreement (T2)
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(the "Facility Lease (T2)") and Collins Holdings entered
into a Facility Sublease Agreement (T2) (the "Facility
Sublease (T2)") with Midwest, each dated as of December 15,
1999. Under the Lease Obligations Guarantee (T2), Holdings
unconditionally and absolutely guarantees the payment of
rent, sublease rent and termination value under both the
Facility Lease (T2) and the Facility Sublease (T2).
(6) Lease Obligations Guarantee, dated as of December 15, 1999
(the "Lease Obligations Guarantee (T3)") by Holdings in
favor of Collins Trust III. Collins Trust III and Collins
Holdings EME, LLC ("Collins Holdings") entered into a
Facility Lease Agreement (T3) (the "Facility Lease (T3)")
and Collins Holdings entered into a Facility Sublease
Agreement (T3) (the "Facility Sublease (T3)") with Midwest,
each dated as of December 15, 1999. Under the Lease
Obligations Guarantee (T3), Holdings unconditionally and
absolutely guarantees the payment of rent, sublease rent and
termination value under both the Facility Lease (T3) and the
Facility Sublease (T3).
(7) Lease Obligations Guarantee, dated as of December 15, 1999
(the "Lease Obligations Guarantee (T4)") by Holdings in
favor of Collins Trust IV. Collins Trust IV and Collins
Holdings EME, LLC ("Collins Holdings") entered into a
Facility Lease Agreement (T4) (the "Facility Lease (T4)")
and Collins Holdings entered into a Facility Sublease
Agreement (T4) (the "Facility Sublease (T4)") with Midwest,
each dated as of December 15, 1999. Under the Lease
Obligations Guarantee (T4), Holdings unconditionally and
absolutely guarantees the payment of rent, sublease rent and
termination value under both the Facility Lease (T4) and the
Facility Sublease (T4).
(8) Guaranty, dated as of December 15, 1999 (the "Midwest OP
Lease Guaranty (T1)") by Midwest in favor of Collins
Generation I, LLC. Pursuant to the Midwest OP Lease
Guaranty, Midwest guarantees the obligations of Collins
Holdings under each Operative Documents to which it is a
party. The "Operative Documents" for the purpose of this
guarantee are: (i) the Facility Lease (T1), (ii) the
Facility Sublease (T1), (iii) a Participation Agreement
(T1), dated as of December 15, 1999, by and among Collins
Holdings, Collins Trust I, Collins Generation I, LLC, the
Wilmington Trust Company, not in its individual capacity,
but solely as Owner Trustee, Holdings, Midwest, Midwest
Funding LLC, Bayerische Landesbank International S.A.,
Bayerische Landesbank Girozentrale and Citibank, N.A., as
Holder Representative, (iv) a Facility Site Sublease
Agreement (T1), dated as of December 15, 1999 between
Collins Holdings and Collins Trust I, and (v) a Facility
Site Sub-Sublease Agreement (T1), dated as of December 15,
1999 between Collins Holdings and Midwest.
(9) Guaranty, dated as of December 15, 1999 (the "Midwest OP
Lease Guaranty (T2)") by Midwest in favor of Collins
Generation II, LLC. Pursuant to the Midwest OP Lease
Guaranty, Midwest guarantees the obligations of Collins
Holdings under each Operative Documents to which it is a
party. The "Operative Documents" for the purpose of this
guarantee are: (i) the Facility Lease (T2), (ii) the
Facility Sublease (T2), (iii) a Participation Agreement
(T2), dated as of December 15, 1999, by and among Collins
Holdings, Collins Trust II, Collins Generation II, LLC, the
Wilmington Trust Company, not in its individual capacity,
but solely as Owner Trustee, Holdings, Midwest, Midwest
Funding LLC, Bayerische Landesbank International S.A.,
Bayerische Landesbank Girozentrale and Citibank, N.A., as
Holder Representative, (iv) a Facility Site Sublease
Agreement (T2), dated as of December 15, 1999 between
Collins Holdings and Collins Trust II, and (v) a Facility
Site Sub-Sublease Agreement
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(T2), dated as of December 15, 1999 between Collins Holdings
and Midwest.
(10) Guaranty, dated as of December 15, 1999 (the "Midwest OP
Lease Guaranty (T3)") by Midwest in favor of Collins
Generation III, LLC. Pursuant to the Midwest OP Lease
Guaranty, Midwest guarantees the obligations of Collins
Holdings under each Operative Documents to which it is a
party. The "Operative Documents" for the purpose of this
guarantee are: (i) the Facility Lease (T3), (ii) the
Facility Sublease (T3), (iii) a Participation Agreement
(T3), dated as of December 15, 1999, by and among Collins
Holdings, Collins Trust III, Collins Generation III, LLC,
the Wilmington Trust Company, not in its individual
capacity, but solely as Owner Trustee, Holdings, Midwest,
Midwest Funding LLC, Bayerische Landesbank International
S.A., Bayerische Landesbank Girozentrale and Citibank, N.A.,
as Holder Representative, (iv) a Facility Site Sublease
Agreement (T3), dated as of December 15, 1999 between
Collins Holdings and Collins Trust III, and (v) a Facility
Site Sub-Sublease Agreement (T3), dated as of December 15,
1999 between Collins Holdings and Midwest.
(11) Guaranty, dated as of December 15, 1999 (the "Midwest OP
Lease Guaranty (T4)") by Midwest in favor of Collins
Generation IV, LLC. Pursuant to the Midwest OP Lease
Guaranty, Midwest guarantees the performance by Collins
Holdings under each Operative Documents to which it is a
party. The "Operative Documents" for the purpose of this
guarantee are: (i) the Facility Lease (T4), (ii) the
Facility Sublease (T4), (iii) a Participation Agreement
(T4), dated as of December 15, 1999, by and among Collins
Holdings, Collins Trust IV, Collins Generation IV, LLC, the
Wilmington Trust Company, not in its individual capacity,
but solely as Owner Trustee, Holdings, Midwest, Midwest
Funding LLC, Bayerische Landesbank International S.A.,
Bayerische Landesbank Girozentrale and Citibank, N.A., as
Holder Representative, (iv) a Facility Site Sublease
Agreement (T4), dated as of December 15, 1999 between
Collins Holdings and Collins Trust IV, and (v) a Facility
Site Sub-Sublease Agreement (T4), dated as of December 15,
1999 between Collins Holdings and Midwest.
(12) Guaranty, dated as of December 15, 1999 (the "Midwest Lessor
Lease Guaranty (T1)") by Midwest in favor of Collins Trust
I. Pursuant to the Midwest Lessor Lease Guaranty, Midwest
guarantees the performance by Collins Holdings under each
Operative Document to which it is a party. The "Operative
Documents" for the purpose of this guarantee are:(i) the
Facility Lease (T1), (ii) the Facility Sublease (T1), (iii)
a Participation Agreement (T1), dated as of December 15,
1999, by and among Collins Holdings, Collins Trust I,
Collins Generation I, LLC, the Wilmington Trust Company, not
in its individual capacity, but solely as Owner Trustee,
Holdings, Midwest, Midwest Funding LLC, Bayerische
Landesbank International S.A., Bayerische Landesbank
Girozentrale and Citibank, N.A., as Holder Representative,
(iv) a Facility Site Sublease Agreement (T1), dated as of
December 15, 1999 between Collins Holdings and Collins Trust
I, and (v) a Facility Site Sub-Sublease Agreement (T1),
dated as of December 15, 1999 between Collins Holdings and
Midwest.
(13) Guaranty, dated as of December 15, 1999 (the "Midwest Lessor
Lease Guaranty (T2)") by Midwest in favor of Collins Trust
II. Pursuant to the Midwest Lessor Lease Guaranty, Midwest
guarantees the performance by Collins Holdings under each
Operative Documents to which it is a party. The "Operative
Documents" for the purpose of this guarantee are:(i) the
Facility Lease (T2), (ii) the Facility Sublease (T2), (iii)
a Participation Agreement (T2), dated as of December 15,
1999, by and among Collins
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<PAGE>
Holdings, Collins Trust II, Collins Generation II, LLC, the
Wilmington Trust Company, not in its individual capacity,
but solely as Owner Trustee, Holdings, Midwest, Midwest
Funding LLC, Bayerische Landesbank International S.A.,
Bayerische Landesbank Girozentrale and Citibank, N.A., as
Holder Representative, (iv) a Facility Site Sublease
Agreement (T2), dated as of December 15, 1999 between
Collins Holdings and Collins Trust II, and (v) a Facility
Site Sub-Sublease Agreement (T2), dated as of December 15,
1999 between Collins Holdings and Midwest.
(14) Guaranty, dated as of December 15, 1999 (the "Midwest Lessor
Lease Guaranty (T3)") by Midwest in favor of Collins Trust
III. Pursuant to the Midwest Lessor Lease Guaranty, Midwest
guarantees the performance by Collins Holdings under each
Operative Documents to which it is a party. The "Operative
Documents" for the purpose of this guarantee are:(i) the
Facility Lease (T3), (ii) the Facility Sublease (T3), (iii)
a Participation Agreement (T3), dated as of December 15,
1999, by and among Collins Holdings, Collins Trust III,
Collins Generation III, LLC, the Wilmington Trust Company,
not in its individual capacity, but solely as Owner Trustee,
Holdings, Midwest, Midwest Funding LLC, Bayerische
Landesbank International S.A., Bayerische Landesbank
Girozentrale and Citibank, N.A., as Holder Representative,
(iv) a Facility Site Sublease Agreement (T3), dated as of
December 15, 1999 between Collins Holdings and Collins Trust
III, and (v) a Facility Site Sub-Sublease Agreement (T3),
dated as of December 15, 1999 between Collins Holdings and
Midwest.
(15) Guaranty, dated as of December 15, 1999 (the "Midwest Lessor
Lease Guaranty (T4)") by Midwest in favor of Collins Trust
IV. Pursuant to the Midwest Lessor Lease Guaranty, Midwest
guarantees the performance by Collins Holdings under each
Operative Documents to which it is a party. The "Operative
Documents" for the purpose of this guarantee are:(i) the
Facility Lease (T4), (ii) the Facility Sublease (T4), (iii)
a Participation Agreement (T4), dated as of December 15,
1999, by and among Collins Holdings, Collins Trust IV,
Collins Generation IV, LLC, the Wilmington Trust Company,
not in its individual capacity, but solely as Owner Trustee,
Holdings, Midwest, Midwest Funding LLC, Bayerische
Landesbank International S.A., Bayerische Landesbank
Girozentrale and Citibank, N.A., as Holder Representative,
(iv) a Facility Site Sublease Agreement (T4), dated as of
December 15, 1999 between Collins Holdings and Collins Trust
IV, and (v) a Facility Site Sub-Sublease Agreement (T4),
dated as of December 15, 1999 between Collins Holdings and
Midwest.
(16) Guarantee, dated as of December 15, 1999 (the "Holdings
Guarantee") by Holdings in favor of Bayerische Landesbank
International S.A ("Bayerische"). Under the Holdings
Guarantee, Holdings guarantees the prompt payment in full
when due of the reimbursement obligations of Midwest.
Midwest has reimbursement obligations under each of (i) a
Reimbursement Agreement I, dated as of December 15, 1999
between Bayerische and Midwest, pursuant to which Bayerische
agreed to issue an irrevocable letter of credit up to an
aggregate principal amount of $3,870,000; (ii) a
Reimbursement Agreement II, dated as of December 15, 1999
between Bayerische and Midwest, pursuant to which Bayerische
agreed to issue an irrevocable letter of credit up to an
aggregate principal amount of $3,870,000; (iii) a
Reimbursement Agreement III, dated as of December 15, 1999
between Bayerische and Midwest, pursuant to which Bayerische
agreed to issue an irrevocable letter of credit up to an
aggregate principal amount of $3,870,000; and (iv) a
Reimbursement Agreement IV, dated as of December 15, 1999
between Bayerische and Midwest, pursuant to which Bayerische
agreed to issue an irrevocable letter of credit up to an
aggregate principal amount of $3,870,000.
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<PAGE>
(17) On March 22, 1999 Commonwealth Edison Company and Edison
Mission Energy entered into that certain Asset Sale
Agreement wherein Edison Mission Energy agreed to
unconditionally and irrevocably guarantee to Commonwealth
Edison Company and all of its successors and assigns, the
due and punctual performance by any assignee of all
covenants, agreements, terms, conditions, undertakings,
indemnities and other obligations to be performed and
observed by such assignee under the Related Agreements
(defined in the Asset Sale Agreement as Agency Agreement,
Bill of Sale and Instrument of Assignment, the
Confidentiality Agreement, the Easement Agreements, the
Facilities Agreements, the Grant Deeds, the Instrument of
Assumption, the Power Purchase Agreements and the
Reproration Agreements).
(d) Capitalization or total equity = $2,492,658,601 Net loss after
taxes for 1999 = ($7,341,531)
(e) Edison Mission Marketing and Trading Co., a wholly owned
subsidiary of Edison Mission Energy will provide services to
Midwest, including marketing, trading and selling of Energy
pursuant to an Energy Sales Agreement, which will be dated
retroactively as of December 15, 1999, as soon as the agreement
is finalized. As of December 31, 1999, EMMT has received $18,959
in exchange for servicesprovided to Midwest pursuant to the
Agreement.
4.10 NEVADA SUN-PEAK LIMITED PARTNERSHIP [EWG]
(a) Nevada Sun-Peak Limited Partnership
200 South Virginia Street, Reno, Nevada 89501
Nevada Sun-Peak L.P. owns a three unit, natural gas and oil fired
combustion turbine generation facility designed to produce a net
output of approximately 210 MW. The combustion turbines (General
Electric PG 7111-EA-CTGs) are capable of operating on either
natural gas or No. 2 distillate fuel oil. The transmission
facilities associated with the plant are owned by Nevada Power
Company. The facility is located near Las Vegas, Nevada.
Commercial operation began on June 8, 1991.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy
owns 100% of Quartz Peak Energy Company, which owns 50% of Nevada
Sun-Peak Limited Partnership, the exempt wholesale generator.
(c) The capital contribution of $8,125,500 was made by Quartz Peak
Energy Company.
(d) Capitalization or total equity = $11,291,413 Net income after
taxes for 1999 = $1,580,228
(e) There are no contracts between Nevada Sun-Peak and any system
company.
Asia Pacific
4.11 CONTACT ENERGY LIMITED [FUCO]
(a) Contact Energy Limited ("Contact")
Level 1, Harbour City Tower, 29 Brandon Street,
Box 10-742, Wellington, New Zealand
In March 1999, Edison Mission Energy Taupo Ltd., an indirectly,
wholly owned subsidiary of Edison Mission Energy ("EME Taupo")
entered into agreements with the government of New Zealand to
acquire 40% of Contact. Contact owns and operates hydroelectric,
geothermal and natural gas-fired power generating plants in New
Zealand with a total generating capacity of 2,371 MW. Contact also
supplies gas and electricity to customers in New Zealand and has
minority interests in two power projects in Australia. The
acquisition was conditioned on
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the New Zealand government completing an initial public offering
of the remaining 60% of Contact, which occurred in mid-May 1999.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy
owns 100% of Edison Mission Energy Global Management, Inc., which
owns 100% of Majestic Energy Limited, which owns 100% of EME
Royale, which owns 100% of Edison Mission Energy Taupo Limited,
which owns 40% of Contact, the foreign utility company.
(c) Capital contributions were made by Edison Mission Energy
through its subsidiary Edison Mission Energy Global
Management, Inc., in the amount of $326,453,060.
Guarantees:
As security for Edison Mission Energy's obligations to close the
acquisition, Edison Mission Energy caused to be delivered letters
of credit (the "Contact Letters of Credit") in the face amount of
$625,000,000. In connection with the delivery of the Contact
Letters of Credit, Edison Mission Energy executed and delivered
its guaranty of repayment in favor of the Contact Letters of
Credit issuers in the event of any draws thereunder. The Contact
Letters of Credit were cancelled and returned to Edison Mission
Energy upon the close of the two financings discussed below.
In May 1999, Edison Mission Energy Global Management, Inc. ("EME
Global"), a wholly owned subsidiary of Edison Mission Energy,
issued $120 million of preferred stock in connection with the
acquisition of Contact. Edison Mission Energy entered into a
Support Agreement with EME Global that requires Edison Mission
Energy to make capital contributions to EME Global in order for it
to maintain a positive net worth and to provide sufficient funds
for payment of declared dividends on preferred stock and any
redemption price in respect of the preferred stock. Edison Mission
Energy's maximum obligation under the Support Agreement is limited
to either (A) an amount equal to twice the sum of (i) the
liquidation preference of the preferred stock (currently
approximately $240 million) and (ii) the liquidation preference on
all outstanding preferred stock of EME Global ranking pari passu
with the preferred stock (currently zero) or (B) the amount that
Edison Mission Energy could lawfully distribute to its shareholder
(Edison International) under the General Corporation Law of the
State of California (approximately $278 million as of June 30,
1999).
Also in connection with the acquisition of Contact, in May 1999,
EME Taupo issued NZ$160 million of preferred stock. Edison Mission
Energy entered into two Deeds of Covenant. The first Deed of
Covenant (Facility Agreement) is in favor of Credit Suisse First
Boston as a lender and requires Edison Mission Energy to provide
funds to EME Taupo (A) of up to NZ$13 million annually in order
for EME Taupo to meet its payment obligations to Credit Suisse
First Boston in respect of interest and dividends and (B) to
ensure that EME Taupo satisfies certain financial ratios. The
second Deed of Covenant (Subscription Agreement) requires Edison
Mission Energy to provide funds to the Preferred Stock Subscriber
to compensate for any shortfall in attaching tax imputation
credits to the dividends on the preferred stock.
(d) Capitalization or total equity = $342,578,000 Net income after
taxes for 1999 = $577,860
(e) There are no service, sales or construction agreements between
Contact and any system company.
4.12 KWINANA POWER PARTNERSHIP [FUCO]
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(a) Kwinana Power Partnership ("KPP")
c/o Edison Mission Energy Holdings Pty. Ltd., Southgate Complex
Level 20, HWT Tower, 40 City Road, South Melbourne, Australia
KPP's facilities used for the generation, transmission, or
distribution of electric energy for sale consist of a 116 MW
gas-fired combined cycle cogeneration plant at the oil refinery
owned and operated by British Petroleum Refinery Proprietary
Limited at Kwinana near Perth, Australia, and interconnection
equipment necessary to connect the plant with the refinery and
with KPP's wholesale purchaser, Western Power Corporation. KPP
commenced operation in December 1996.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy
owns 100% of Mission Energy Holdings International, Inc. Mission
Energy Holdings International, Inc. directly owns 99.99% (100% of
the Class A shares) of MEC International B.V. ("MECI") and
indirectly owns 0.01% of MECI through its wholly owned subsidiary
EME UK International LLC, which owns 100% of the Class B shares
of MECI. MECI directly owns 99% of MEC Perth B.V. and through its
wholly owned subsidiary MEC International Holdings B.V. indirectly
owns the remaining 1% of MEC Perth B.V.; MEC Perth B.V.owns 99% of
KPP, the foreign utility company. MECI also directly owns 100% of
Loy Yang Holdings Pty Ltd, which owns 100% of Edison Mission
Energy Holdings Pty Ltd, which owns 100% of Mission Energy
(Kwinana) Pty Ltd, which owns the remaining 1% of KPP, the foreign
utility company.
(c) The Shareholder and Equity Subscription Agreement provided for an
equity contribution from MEC Perth B.V. to be made upon conversion
from a construction loan to a term loan which was scheduled for
late 1996; Edison Mission Energy is obligated to contribute the
equity required to be paid by its subsidiary. The equity
contribution is $24,254,167. No capital contribution was made.
(d) Capitalization or total equity = $8,494,566 Net income after taxes
for 1999 = $5,704,006
(e) An indirect, wholly owned subsidiary of MECI, Edison Mission
Operation (Kwinana) Pty Ltd ("EMOK"), operates the facility
pursuant to an operation and maintenance agreement. EMOK received
$355,176 in compensation as operator in 1999.
4.13 LOY YANG B JOINT VENTURE [FUCO]
(a) Loy Yang B Joint Venture ("LYBJV")
Bartons Lane, Loy Yang, Victoria, Australia 3844
LYBJV owns two coal-fired generating units with generator name
plate ratings of 500,000 kW each, located in the Latrobe Valley in
the State of Victoria, Australia. Unit 1 began commercial
operation on September 30, 1993, and Unit 2 began commercial
operation on September 30, 1996.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy
owns 100% of Mission Energy Holdings International, Inc. Mission
Energy Holdings International, Inc. directly owns 99.99% (100% of
the Class A shares) of MEC International B.V. ("MECI") and
indirectly owns 0.01% of MECI through its wholly owned subsidiary
EME UK International LLC, which owns 100% of the Class B shares
of MECI. MECI, through wholly owned subsidiaries of Edison Mission
Energy, collectively owns 100% of the interests in Loy Yang B
Joint Venture, the foreign utility company, as explained below.
The system-owned venturer is Latrobe Power Partnership
("LPP"), which owns the 51% interest. LPP is 1% owned by
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Edison Mission Energy Australia Ltd. (the managing general
partner) and 99% owned by Mission Victoria Partnership (a
general partner).
Edison Mission Energy Australia Ltd. is wholly owned by Edison
Mission Energy Holdings Pty Ltd, which is wholly owned by Loy Yang
Holdings Pty Ltd, which is a wholly owned subsidiary of MEC
International B.V.
Mission Victoria Partnership is 52.31% owned by Latrobe Power Pty
Ltd (general partner), 46.69% owned by Traralgon Power Pty Ltd
(general partner), and 1% owned by Mission Energy Ventures
Australia Pty Ltd (managing general partner). Latrobe Power Pty
Ltd and Traralgon Power Pty Ltd are both owned 99% by MEC
International B.V. and 1% by Loy Yang Holdings Pty Ltd. Mission
Energy Ventures Australia Pty Ltd is wholly owned by Loy Yang
Holdings Pty Ltd, which is owned as described above. Gippsland
Power Pty Ltd. owns the remaining 49% in Loy Yang B Joint Venture.
Gippsland is 100% owned by Mission Energy Development Australia
Pty Ltd., which is 100% owned by EME Victoria Generation Ltd. (a
UK company), which is 100% owned by EME Generation Holdings Ltd.
(a UK company), which is 100% owned by Mission Hydro Limited
Partnership (a UK company) which is 69% owned by MEC Wales BV (a
Dutch company), 30% owned by Mission Energy Wales Company and 1%
owned by Mission Hydro (UK) Limited. All three partners to Mission
Hydro Limited Partnership are 100% directly or indirectly owned by
Edison Mission Energy.
(c) Edison Mission Energy,through its indirect and direct subsidiaries,
closed financing of $964 million (the "Financing") for the
purchase of the remaining 49% of LYBJV. The Financing consists of
(i) a 15 year interest-only term facility, (ii) a 20 year
amortizing term facility with principal and interest payments
scheduled quarterly commencing September 30, 1998, and (iii) a
working capital facility with a term equal to that of the 20 year
amortizing term facility. The Financing was structured on a
non-recourse basis. Lenders look solely to the cash proceeds of
LYBJV to repay the debt and have taken a security interest in the
LYBJV.
In the document between Edison Mission Energy and the Bank Group
entitled "MEC Undertaking," Edison Mission Energy is obligated (i)
to support all performance obligations of EME Management Australia
Pty Ltd ("MEMA") (the operator under the Operations & Maintenance
Agreement ("O&M Agreement") and (ii) to provide up to 5,000,000
Australian Dollars in any year to MEMA in the event that MEMA
incurs certain liabilities under the O&M Agreement.
LPP's and Gippsland's capital contribution = $363,356,338
(d) LPP's and Gippsland's Equity = $120,756,453
LPP's & Gippsland's Net Income after taxes for 1999 = $22,551,162
(e) An indirect, wholly owned subsidiary of MEC International
B.V., Edison Mission Operation & Maintenance Loy Yang Pty Ltd.
operates the generating plant pursuant to an amended operating
and maintenance contract. The intermediate holding company
of Edison Mission Operation & Maintenance Loy Yang Pty Ltd.
is Edison Mission Energy Holdings Pty Ltd. As operator,
Edison Mission Operation & Maintenance Loy Yang Pty Ltd.
performs the following services: management and supervision
of the construction commissioning, testing, operation and
maintenance of the Loy Yang B power station on behalf of
the joint venture participants.
4.14 P. T. PAITON ENERGY [FUCO]
(a) P. T. Paiton Energy ("Paiton")
Mid Plaza 2, 15th Floor, Jl. Jend. Sudirman Kav. 10-11
Jakarta 10220 Indonesia
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Paiton's facilities consist of two coal-fired electric generating
units in Paiton, Indonesia, on the northeast Java coast, both of
which have achieved commercial operation during 1999. Each unit
has a nominal net design capacity of 605MW and is comprised of a
boiler and steam turbine generator with ancillary facilities. The
two units share a control room.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy
owns 100% of Mission Energy Holdings International, Inc. Mission
Energy Holdings International, Inc. directly owns 99.99% (100% of
the Class A shares) of MEC International B.V. ("MECI") and
indirectly owns 0.01% of MECI through its wholly owned subsidiary
EME UK International LLC, which owns 100% of the Class B shares
of MECI. MECI directly owns 99% of MEC Indonesia B.V. and through
its wholly owned subsidiary MEC International Holdings B.V.
indirectly owns the remaining 1% of MEC Indonesia B.V.; MEC
Indonesia B.V. owns 40% of P. T. Paiton Energy, the foreign
utility company.
(c) Capital contribution made by Edison Mission Energy through MEC
Indonesia B.V. to Paiton was in the amount of $125,694,200.
Edison Mission Energy and its wholly owned affiliates, MEC
Indonesia B.V., MEC International B.V., and MEC International
Holdings B.V. ("Mission Affiliates") have undertaken the
following obligations:
Equity Support Guarantee. Edison Mission Energy and the
Mission Affiliates have guaranteed payment of 47.06% of
Paiton's obligations to contribute base equity, overrun equity
and contingent overrun equity to the Paiton Project. Edison
Mission Energy and the Mission Affiliates' obligations are
$320,008,000 (as of December 31, 1999 these obligations have
been fully funded), for base equity, $82,355,000 for overrun
equity (as of December 31, 1999, $30,244,402 of this
obligation has been funded) and $58,825,000 for contingent
overrun equity. The total Edison Mission Energy/Mission
Affiliates' commitment is $461,200,000.
(a) Overrun Equity. Overrun Equity in the amount of
$82,355,000 (Edison Mission Energy/Mission
Affiliates' portion) is for costs incurred by the
Paiton Project that were not included in the project
budget and not otherwise covered by third parties
such as insurers or the construction contractor.
(b) Contingent Overrun Equity. Contingent Overrun Equity
in the amount of $58,825,000 (Edison Mission
Energy/Mission Affiliates' portion) will be utilized
on the same basis as Overrun Equity once the Overrun
Equity has been fully utilized.
(c) BHP Loans. Edison Mission Energy has agreed to lend
47.06% of the equity required to be contributed by
P.T. Batu Hitam Perkasa, an Indonesian limited
liability company, and 15% shareholder in Paiton
(the "BHP Loans"). The BHP Loans are to be repaid
out of Paiton dividends, carry an interest rate of
Libor plus 2.25%, a term of 20 years and are
anticipated to be repaid, based on current economics,
in approximately 17 years. The BHP Loan obligation
is included in Edison Mission Energy's Equity
Support Agreement commitment and accounts for
$21,459,360 of that obligation. This obligation
has been fully funded.
(d) Capitalization or total equity = $127,973,169 Net income after
taxes for 1999 = $5,263,880
(e) (1) Edison Mission Energy Asia Pte. Ltd., the wholly owned
Singapore corporation of MEC International B.V., has
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entered into an Operation and Maintenance Agreement with
Paiton to provide operation and maintenance services. The
services under the Operation and Maintenance Agreement have
been assumed by P.T. Edison Mission Operation & Maintenance
Indonesia, another indirect subsidiary of Edison Mission
Energy. PTEMO&M has received $360,064 net income after taxes
in 1999.
(2) Mission Energy Construction Services, Inc. ("MECSI"), a wholly
owned subsidiary of Edison Mission Energy, entered into a
Secondment Agreement with Paiton on April 20, 1995
("Agreement"). MECSI is to recruit and second appropriate
personnel to Paiton in connection with the construction of
the Paiton facility. MECSI will receive compensation in the
amount of $25,000 from Paiton for the provision of seconded
personnel. MECSI executed a letter of confirmation relating
to the Agreement on April 21, 1995, which states that in the
event the salaries, benefits, wages, taxes and expenses
("Costs") of the seconded personnel equal an amount less
than $6.975 million at the beginning of the 59th month
following the commencement of construction under the
construction contract, Paiton is to immediately pay the
difference to MECSI or its designee in US dollars. In the
event the Costs exceed $6.975 million, then MECSI shall pay
to Paiton the amount of such overage.
(3) MECSI & Paiton entered into an Owner Representative Agreement
on March 31, 1995, wherein MECSI is authorized to represent
Paiton with regard to overseas suppliers and procurement on
the construction of the facility and interface with the
contractor and Perussahan Umum Listrik Negara, the
Indonesian state-owned utility, on technical, budgeting, and
scheduling matters. Under this agreement, MECSI is to
receive compensation in the amount of $8 million payable in
arrears in accordance with a schedule attached to the Owner
Representative Agreement.
Europe, Central Asia, Middle East & Africa
4.15 DERWENT COGENERATION LIMITED [FUCO]
(a) Derwent Cogeneration Limited ("Derwent")
Lansdowne House, Berkeley Square, London W1X5DH England
The 214 MW plant at Spondon, Derbyshire, England, went into
operation in 1995.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy
owns 100% of Mission Energy Holdings International, Inc. Mission
Energy Holdings International, Inc. directly owns 99.99% (100% of
the Class A shares) of MEC International B.V. ("MECI") and
indirectly owns 0.01% of MECI through its wholly owned subsidiary
EME UK International LLC, which owns 100% of the Class B shares
of MECI. MECI owns 100% of Mission Energy Company (UK) Limited
which owns 33% of Derwent Cogeneration Limited, the foreign
utility company.
(c) Total capital contribution = $2,690,825
(d) Capitalization or total equity = $4,809,499 Net Income after
taxes for 1999 = $2,888,883
(e) Mission Energy Services Limited ("MESL") provided construction
management services to Derwent Cogeneration Limited throughout the
construction phase of the project and is now the operator of the
facility. MESL is to receive a fee of $781,531 per year for
operation and maintenance services as well as reimbursement from
Derwent for expenditures incurred for operation and maintenance
services.
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4.16 FIRST HYDRO COMPANY [FUCO]
(a) First Hydro Company ("FHC")
Bala House, St. David's Park, Ewloe, Clwyd, Wales CH5 3XJ
The principal assets of FHC are two pumped storage stations
located in North Wales at Dinorwig and Ffestiniog which have a
combined registered capacity of 2,088MW. These facilities were
built to provide additional generation for meeting peak demand
throughout the day and to provide rapid generation response to
sudden changes in electricity demands.
(b) Edison International's wholly owned subsidiary The Mission Group
owns 100% of Edison Mission Energy, which through its subsidiaries
(i) wholly owned Mission Energy Wales Company, owns 30%LP of
Mission Hydro Limited Partnership, which in turn owns 100% of EME
Generation Holdings, Ltd., which in turn owns 99% of First Hydro
Holdings Company, which owns 100% of First Hydro Finance plc,
which owns 1% of First Hydro; (ii) wholly owned Mission Energy
Holdings International, Inc. ("MEHInt'l") indirectly owns .01% of
MEC International B.V. ("MECI") through its wholly owned
subsidiary EME UK International LLC (which owns 100% of the Class
B Shares of MECI); MEHInt'l directly owns the remaining 99.99% of
MECI; MECI owns 100% of Mission Energy Company (UK) Limited, which
owns 100% of Mission Hydro (UK) Limited, which in turn directly
owns 1% of First Hydro Holdings Company and indirectly owns the
remaining 99% of First Hydro Holdings Company through its 1%GP
interest in Mission Hydro Limited Partnership, First Hydro
Holdings Company owns 100% of First Hydro Finance plc, which in
turn owns 1% of FHC; and (iii) the wholly owned subsidiary Mission
Energy Holdings International, Inc. owns 100% of MEC International
B.V. which directly owns 99% of MEC Wales B.V. and through its
wholly owned subsidiary MEC International Holdings B.V. indirectly
owns the remaining 1% of MEC Wales B.V., MEC Wales B.V. owns 69%LP
of Mission Hydro Limited Partnership, which in turn owns 100% of
EME Generation Holdings, Ltd., which owns 99% of First Hydro
Holdings Company, which owns 100% of First Hydro Finance plc,
which owns 100% of FHC.
(c) First Hydro Finance plc ("FHF"), indirect subsidiary of Edison
Mission Energy, purchased all of the outstanding shares of FHC for
$1.0 billion plus $45.7 million as consideration for the working
capital of FHC at the date of acquisition. This acquisition was
funded through a combination of (i) a $621.4 million credit
facility with Barclays Bank Plc, (ii) a $350 million capital
contribution from Edison International, and (iii) the remaining
$50.4 came from Edison Mission Energy's working capital. FHF
obtained the financing for First Hydro Holdings Company, a wholly
owned indirect subsidiary of Edison Mission Energy. To support the
financing for FHF, Edison Mission Energy has issued a letter of
credit from its $400 million corporate revolving credit.
Revenue Support Letter of Credit - The Letter of Credit was issued
by Bank of America in the amount of 12 million Italian Lira (U.S.
$19.4 million @ 1.62 GBP/U.S.$) in favor of FHF and assigned to
Prudential Trustee Company Limited as security trustee. The
Revenue Support Letter of Credit must be opened for the initial
five years of financing with a bank having a short-term rating of
at least A-1/P-1. The Revenue Support Letter of Credit may be
drawn down to make up any shortfalls in interest payments owing
and to cure any default arising from interest coverage ratios
dropping below 1.05 to 1.0 for the applicable reference periods.
The Revenue Support Letter of Credit Obligation expires in
December 2001.
(d) Capitalization or total equity = $423,116,979 Net income after
taxes for 1999 = $108,774,233
(e) There are no contracts between FHC and any system company.
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4.17 EDISON FIRST POWER LIMITED [FUCO]
(a) Edison First Power Limited, a Guernsey LLC ("EFPL")
Lansdowne House, Berkeley Square,
London W1X 5DH England
EFPL acquired Ferrybridge, a coal-fired electric generating plant
with a generating capacity of approximately 2,000 MW located in
West Yorkshire ("Ferrybridge") and Fiddler's Ferry, a coal fired
electric generating plant with a generating capacity of
approximately 2,000 MW located in Warrington ("Fiddler's Ferry").
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy
owns 100 of Mission Energy Holdings International Inc. Mission
Energy Holdings International, Inc. directly owns 99.99% (100% of
the Class A shares)of MEC International B.V.("MECI")and indirectly
owns 0.01% of MECI through its wholly owned subsidiary EME UK
International LLC, which owns 100% of the Class B shares of MECI.
MECI owns 100% of Global Generation B.V., which owns 100% of
Edison First Power Holdings I, which owns 100% Maplekey Holdings
Limited, which owns 100% of Maplekey UK Finance Limited, which
owns 100% of Maplekey UK Limited, which in turn owns 100% of EFPL,
the foreign utility company.
(c) Capital contributions were made by Edison Mission Energy through
its subsidiary Global Generation, B.V., in the amount of
$870,531,503.
Guarantees:
On April 30, 1999, Edison First Power Limited ("EFPL"), a wholly
owned subsidiary of Edison Mission Energy, executed two Sale and
Lease Agreements with PowerGen UK plc, an English corporation
("PowerGen") for the acquisition of each of Ferrybridge, a
coal-fired electric generating plant with a generating capacity of
approximately 2,000 MW located in West Yorkshire ("Ferrybridge")
and Fiddler's Ferry, a coal-fired electric generating plant with a
generating capacity of approximately 2,000 MW located in
Warrington ("Fiddler's Ferry"). The acquisition and financing of
Ferrybridge and Fiddler's Ferry were completed on July 19, 1999,
for approximately $2 billion.
The following is a listing of the various obligations undertaken
by Edison Mission Energy with respect to the acquisition and
financing of Ferrybridge and Fiddler's Ferry:
Purchase Price Adjustment Guarantee - Edison Mission Energy has
guaranteed to PowerGen the payment of $16,879,000 for each of
Ferrybridge and Fiddler's Ferry as an adjustment to the purchase
price in the event that the Environmental Authority of Her
Majesty's Government in the United Kingdom (the "Environmental
Authority") allows for an increase in the emissions from
Ferrybridge and Fiddler's Ferry. It is expected that the
Environmental Authority will issue its determination regarding
emissions in September or October 1999. In the event the
Environmental Authority determines that it will not allow for an
increase in emissions, this obligation will cease and EME will
have no further obligation hereunder.
Coal and Capex Facility Guarantee - Edison Mission Energy has
guaranteed to Barclays Bank PLC the obligations of EME Finance UK
Limited ("EME Finance"), a wholly-owned subsidiary of Edison
Mission Energy, under that certain Coal and Capex Facility
Agreement (the "Facility Agreement") dated as of July 19, 1999,
and entered into in connection with the financing of Ferrybridge
and Fiddler's Ferry, pursuant to which Barclays Bank PLC issued at
the request of EME Finance two letters of credit:
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Capex Letter of Credit - A five-year letter of credit in
the amount of $142,038,217 was posted to meet the obligations
of EFPL in relation to capital costs associated with
construction costs arising from proposed modifications to
Ferrybridge and Fiddler's Ferry and may be drawn upon where
funds in the revenue account of EFPL are insufficient to pay
such costs; and
Coal Letter of Credit - A fifty-four (54) month letter of
credit in the amount of $86,764,331 was posted to meet the
obligations of EFPL under certain coal supply agreements and
may be drawn upon to fund amounts which become due and payable
from time to time under such agreements.
Debt Service Reserve Letter of Credit - Edison Mission Energy
caused to be posted by Bank of America a Letter of Credit
denominated in Pounds Sterling equal to $85,395,600 under Edison
Mission Energy's corporate revolving line of credit with Bank of
America, to serve as a debt service reserve account which may be
drawn upon by the trustee for the bondholders in the event EFPL
fails to make debt service payments under the Guaranteed Secured
Variable Rate Bonds due 2019 (the "Bonds"). The Bonds are
non-recourse to Edison Mission Energy.
(d) Capitalization or total equity = $914,715,404 Net income after
taxes for 1999 = $21,239,591
(e) EFPL and Edison Mission Marketing Services Limited ("EMMS")
have entered into an Agency Agreement (the "Agreement") wherein
EMMS shall provide Agency Services (as defined in Schedule 1 to
the Agreement) to EFPL. As of December 31, 1999, EFPL has paid
EMMS $841,812 for services provided to Edison First Power
Limited under the Agreement.
EFPL and EMMS have entered into a Services Agreement (the
"Agreement") wherein EMMS provides certain office functions and
management expertise (as outlined in Schedule 1 of the Agreement)
to EFPL. As of December 31, 1999, EFPL has paid EMMS
$1,144 for services provided to EFPL under the Agreement.
4.18 IBERICA DE ENERGIAS, S.A. [FUCO]
(a) Iberica de Energias, S.A. ("Iberica")
Paseo de Gracia 18, Planta 4, 08007, Barcelona, Spain
Iberica's facilities consist of the following fifteen
mini-hydroelectric facilities which are capable of producing a
total of 48.55 MW:
Quintana: 1.48MW facility in Herrera de Valdecana, Palencia
La Flecha: 2.66MW facility in Arroyo Encomienda, Valladolid
Toro: 4.50MW facility in Toro, Zamora
Tudela: 1.48MW facility in Tudela de Duero, Valladolid
Sardon Bajo: 1.60MW facility in Villabanez, Valladolid
Bocos: 1.60MW facility in Bocos de Duero, Valladolid
Monasterio:1.60MW facility in Quintanilla de Arriba, Valladolid
Logrono: 3.68MW facility in Logrono, La Rioja
Mendavia: 5.60MW facility in Mendavia, Navarra
La Ribera: 4.40MW facility in Pradejon, La Rioja
Gelsa: 7.20MW facility in Gelsa, Zaragoza
Alos: 4.80MW facility in Alos de Balaguer, Lerida
Castellas: 2.25MW facility in Valls de Aguilar, Lerida
Sossis: 3.3MW facility in Pyrenees (Lerida)
Olvera: 2.4MW facility in south of Spain (Jaen)
(b) Edison International owns 100% of The Mission Group; The
Mission Group owns 100% of Edison Mission Energy; Edison
Mission Energy owns 100% of Mission Energy Holdings
International, Inc. Mission Energy Holdings International,
Inc. directly owns 99.99% (100% of the Class A shares) of
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MEC International B.V. ("MECI") and indirectly owns 0.01%
of MECI through its wholly owned subsidiary EME UK
International LLC, which owns 100% of the Class B shares
of MECI. MECI owns 10% of Hydro Energy B.V. and indirectly
through its wholly owned subsidiary Iberian Hy-Power
Amsterdam B.V. owns the remaining 90% of Hydro Energy B.V.;
Hydro Energy B.V. owns 96.65% of Iberica de Energias, the
foreign utility company, and Iberian Hy-Power Amsterdam B.V.
owns the remaining 3.35%.
(c) The capital contribution made by MECI through Iberian Hy-Power
Amsterdam B.V. was $5,157,703. In August, 1993, MECI, through its
34% ownership interest and its direct ownership interest in Hydro
Energy B.V., acquired an aggregate 40.6% interest in Energias
Hidraulicas, S.A. ("EH") from Energies, S.A., the hydroelectric
development subsidiary of Vivendi (formerly Compagne Generale des
Eaux). Subsequently, EH sold Iberica and Mediterranea to Hydro
Energy B.V. CGE is a French water utility company. EH is a Spanish
holding company which will develop water right concessions, but
has no operating facilities. During 1996, the five facilities
previously owned by Compania Mediterranea de Energias, S.A., were
merged into Iberica. Also in 1996, Energias Hidraulicas' name was
changed to Edison Mission Energy Espana, S.A.
In connection with the acquisition of EH, Vivendi provided to
Iberica and Mediterranea a 10-year limited revenue guaranty, which
allowed Iberica and Mediterranea to secure non-recourse project
financing. Consideration to Vivendifor the acquisition of Iberica
and Mediterranea included the assumption by Hydro Energy B.V. of
an existing loan with deferred payments to Vivendi beginning in
1999 and ending in 2003. Edison Mission Energy has provided a
guaranty for any such deferred payments which are outstanding as
of September 30, 2003 (six months after the due date for all such
deferred payments). The guaranty by Edison Mission Energy provides
for no rights of acceleration by Vivendi under any circumstances.
At December 31, 1999, the present value of the deferred payments
will amount to $22.2 million ($34.1 million face value discounted
at 11.5%).
(d) Capitalization or total equity =$23,814,148 Net Income after taxes
for 1999 = $3,560,943
(e) There are no contracts between Iberica and any system company.
4.19 ELECTROMETALURGICA DEL EBRO, S.A. [FUCO]
(a) Electrometalurgica del Ebro, S.A. ("EMESA")
Paseo de Gracia 18, Planta 4, 08007, Barcelona, Spain
EMESA's facilities consist of three mini-hydroelectric facilities
(Sastago I, Sastago II and Menza) all located near the Ebro River
in Zaragoza. The three mini-facilities are masonry weir, concrete
intake structures capable of producing 3 MW, 17.3 MW and 13 MW,
respectively.
(b) Edison International owns 100% of The Mission Group; The
Mission Group owns 100% of Edison Mission Energy; Edison
Mission Energy owns 100% of Mission Energy Holdings
International, Inc. Mission Energy Holdings International,
Inc. directly owns 99.99% (100% of the Class A shares) of
MEC International B.V. ("MECI") and indirectly owns 0.01%
of MECI through its wholly owned subsidiary EME UK
International LLC, which owns 100% of the Class B shares
of MECI. MECI owns 10% of Hydro Energy B.V. and indirectly
through its wholly owned subsidiary Iberian Hy-Power
Amsterdam B.V. owns the remaining 90% of Hydro Energy B.V.;
Hydro Energy B.V. owns 96.65% of Iberica de Energias and
Iberian Hy-Power Amsterdam B.V. owns the remaining 3.35%;
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Iberica de Energias owns 91.32% of EMESA, the foreign utility
company.
(c) The capital contribution made by MECI through Iberian
Hy-Power Amsterdam B.V. was $3,140,000.
(d) Capitalization or total equity = $80,354 Net Income after taxes
for 1999 = $2,019,736
(e) There are no contracts between EMESA and any system company.
4.20 LAKELAND POWER LTD. [FUCO]
(a) Lakeland Power Ltd.
Roosecote Power Station, Barrow-in-Furness
Cumbria, England LA13 OPX
Lakeland's facilities consist of a 220 MW gas fired combined cycle
electricity generation plant.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy
owns 100% of Mission Energy Holdings International, Inc. Mission
Energy Holdings International, Inc. directly owns 99.99% (100%
of the Class A shares) of MEC International B.V. ("MECI") and
indirectly owns 0.01% of MECI through its wholly owned subsidiary
EME UK International LLC, which owns 100% of the Class B shares of
MECI.MECI owns 1% of Pride Hold Limited and 100% of Mission Energy
Company (UK) Limited; Mission Energy Company (UK) Limited owns 99%
of Pride Hold Limited. Pride Hold Limited owns 100% of Lakeland
Power Ltd., the foreign utility company.
(c) The capital contribution made by MECI and by MEC(UK) through Pride
Hold Limited was $6,021,299.
(d) Capitalization or total equity =$1,554,932. Net income after taxes
for 1999 = $14,212,162.
(e) There are no contracts between Lakeland and any system company.
Projects Under Construction
Americas
4.21 ECOELECTRICA L.P. [FUCO]
(a) EcoElectrica L.P., a Bermuda limited partnership ("EcoElectrica")
Plaza Scotiabank, Suite 902, Avenida Ponce de Leon 273
Hato Rey, Puerto Rico
EcoElectrica will own and operate a liquefied natural gas marine
unloading facility, two 1,000,000-barrel LNG storage tank, LNG
vaporization equipment, an approximately 461 MW cogeneration power
plant facility with two natural gas turbines and one steam
turbine, and a desalination plant, located in Penuelas, Puerto
Rico. EcoElectrica also will own and operate: a 2.3 mile, 230 kV
transmission line connecting the power plant substation to an
existing Puerto Rico Electric Power Authority ("PREPA")
substation, a 1.2 mile, 24 inch diameter natural gas accumulator
pipeline; a 3.5 mile, 10 inch diameter pipeline to supply
liquefied petroleum gas ("LPG") to the facility, and a 1.1 mile, 6
to 8 inch diameter pipeline connecting the natural gas accumulator
and PREPA's Costa Sur Power Plant.
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(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy
owns 100% of Mission Energy Holdings International, Inc. Mission
Energy Holdings International, Inc. directly owns 99.99% (100%
of the Class A shares) of MEC International B.V. ("MECI") and
indirectly owns 0.01% of MECI through its wholly owned subsidiary
EME UK International LLC, which owns 100% of the Class B shares
of MECI. MECI owns 100% of EcoElectrica S.a.r.l; EcoElectrica
S.a.r.l. owns 100% of EME del Caribe Holding GmbH ("Caribe");
EcoElectrica Holdings, Ltd., which owns 100% of EcoElectrica Ltd.
Caribe owns 50% of and 99%LP of EcoElectrica; EcoElectrica Ltd.
owns 1%GP of EcoElectrica.
(c) Capital contributions were made by Edison Mission Energy
through its subsidiary EcoElectrica s.a.r.l. in the amount
of $249,164,185.
On December 23, 1998, a wholly-owned subsidiary of Edison Mission
Energy, EME del Caribe, acquired a fifty-percent (50%) interest in
EcoElectrica, L.P. which owns a 540 MW gas-fired cogeneration
facility and a desalination plant and assorted facilities under
construction in Penuelas, Puerto Rico ("EcoElectrica").
The following is a listing of the various obligations of Edison
Mission Energy with respect to EcoElectrica:
Equity Support Guarantee - Edison Mission Energy was obligated to
guarantee certain equity funding obligations of EcoElectrica, Ltd.
and EcoElectrica Holdings, Ltd., both Cayman Island companies and
partners in EcoElectrica, L.P. (collectively, the "Affiliate
Companies"). The funding obligations are set forth in the Equity
Funding Agreement dated as of October 31, 1997 among the Affiliate
Companies, EcoElectrica, L.P., the project partnership, and the
project's lenders.
Accordingly, Edison Mission Energy executed an Equity Support
Guarantee dated December 23, 1998 under which it has guaranteed
obligations of the Affiliate Companies under the Equity Funding
Agreement, including the funding of one-half (approximately $33.5
million) of the required project equity contribution. The proceeds
of the equity contribution are expected to be used to repay the
construction loan.
Fuel Supply Interruption Reserve Guarantee - To ensure the
availability of funds to purchase fuel in the event of an
emergency or unforeseen circumstances, such as drastically higher
fuel costs, EcoElectrica is required to fund from project cash
flow a Fuel Supply Interruption Reserve Requirement ("FSIRR") into
a Fuel Supply Interruption Reserve Sub-Account ("Fuel Reserve
Sub-Account"). The FSIRR increases in amount until quarter 54
(13.5 years after the commercial operation date) and then
decreases, in accordance with Schedule IX to the Credit Agreement.
Edison Mission Energy has elected to provide a Fuel Supply
Interruption Reserve Guarantee in order that it may withdraw its
share of funds from the Fuel Reserve Sub-Account. During each
quarter that the FSIRR increases under Schedule IX, the funds
deposited into the Fuel Reserve Sub-Account to meet the FSIRR can
be withdrawn by Edison Mission Energy upon Edison Mission Energy
providing an increase in the Guarantee equal to the amount
withdrawn. Edison Mission Energy has executed a Master Guarantee
Support Instrument dated December 23, 1998, by and among Edison
Mission Energy, ABN Amro Bank N.V., as Administrative Agent, the
Chase Manhattan Bank, as Collateral Agent, and the Chase Manhattan
Bank, as Depository Agent. As Edison Mission
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Energy withdraws funds from the Fuel Reserve Sub-Account, it will
execute a Master Guarantee Supplement which will indicate the
amount withdrawn and supplement earlier amounts withdrawn and
guaranteed by Edison Mission Energy.
Based on the project pro-forma at quarter 54, Edison Mission
Energy will have withdrawn $9,071,500 from the Fuel Reserve
Sub-Account and will have in place a Guarantee in the same amount.
The Guarantee will be incrementally released as the amount of the
FSIRR decreases after quarter 54 under Schedule IX.
UCCI Guarantee - EcoElectrica L.P. entered into an Option to
Purchase Agreement with Union Carbide Caribe Inc. ("UCCI") under
which EcoElectrica agreed to indemnify UCCI with respect to
certain post-closing activities (property damage or personal
injury) and environmental contamination on the plant site. This
indemnity obligation was guaranteed by Enron Power Corp. and
Kenetech Energy Systems Inc., ("KES") pursuant to a Guaranty dated
November 25, 1997 (the "UCCI Guaranty").
Edison Mission Energy was required to execute a Guarantee
Assumption Agreement under which Edison Mission Energy agreed to
assume all of the obligations of KES under the UCCI Guaranty.
Although the indemnity obligation and thus Edison Mission Energy's
potential exposure under the UCCI Guaranty is unlimited, the
maximum potential pollution risk exposure is believed by
environmental experts to be in the $6 million to $7 million range.
EcoElectrica is managing this risk through a $70 million
EcoElectrica environmental insurance policy from AIG.
(d) Capitalization or total equity = $145,026
Net income after taxes for 1999 = $0
(e) Assignment and Assumption Agreement: On October 31, 1997, KES
Bermuda, Inc. and EcoElectrica, L.P. entered into that certain
Administrative Services Agreement pursuant to which KES receives a
fee, plus expense reimbursement in return for providing advisory
services to EcoElectrica. As of December 23, 1998, KES assigned
its rights, title and interests under said agreement to EME del
Caribe. As of December 31, 1999, Caribe has received $307,223 for
providing services to EcoElectrica.
Asia Pacific
4.22 TRI ENERGY COMPANY LIMITED [FUCO]
(a) Tri Energy Company Limited
16th Floor, Grand Amarin Tower, New Petchburi Road
Ratchathewi, Bangkok 10320 Thailand
Tri Energy's facilities consist of a 700MW gas turbine combined
cycle facility located in Ratchaburi Province, West of Bangkok,
Thailand, and interconnection equipment necessary to connect the
facility with the company's wholesale purchaser, the Electricity
Generating Authority of Thailand.
Tri Energy is scheduled to become operational by Third Quarter
2000.
(b) Edison International owns 100% of The Mission Group; The Mission
Group owns 100% of Edison Mission Energy; Edison Mission Energy
owns 100% of Mission Energy Holdings International, Inc. Mission
Energy Holdings International, Inc. directly owns 99.99% (100%
of the Class A shares) of MEC International B.V. ("MECI") and
indirectly owns 0.01% of MECI through its wholly owned subsidiary
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EME UK International LLC, which owns 100% of the Class B shares
of MECI. MECI owns 100% of EME Tri Gen B.V., which owns 25% of
Tri Energy Company Limited, the foreign utility company.
(c) Capital contributions were made by Edison Mission Energy through
its subsidiary EME Tri Gen B.V. in the amount of $1,501,574.
(d) Capitalization or total equity = $686,184
Net income after taxes for 1999 = $0
(e) EME Asia Pacific Pte.Ltd.("EME Asia") & Tri Energy Company Limited
("TECO") have entered into an Onshore Service Agreement and an
Offshore Service Agreement. Under the Onshore Service agreement,
EME Asia is to provide managerial, professional and technical
services within Thailand to TECO for a fixed annual fee of
$12,000,000 Baht. Under the Offshore Service agreement, EME Asia
is to provide managerial, professional and technical services
outside of Thailand on an hourly fee basis. As of December 31,
1999, EME Asia has not received payment under either agreement.
Europe, Central Asia, Middle East & Africa
4.23 ISAB ENERGY, s.r.l. [FUCO]
(a) ISAB Energy, s.r.l. ("ISAB")
Corso Gelone No. 103, Siracusa, Sicily, Italy
ISAB's facilities will consist of a 512MW integrated gasification
and combined cycle power plant, located in Priolo Gargallo, 8 km.
from Siracusa, Sicily, on approximately 100 hectares of land. ISAB
is scheduled to become operational by March 15, 2000.
(b) Edison International owns 100% of The Mission Group; The
Mission Group owns 100% of Edison Mission Energy; Edison
Mission Energy owns 100% of Mission Energy Holdings
International, Inc. Mission Energy Holdings International,
Inc. directly owns 99.99% (100% of the Class A shares) of
MEC International B.V. ("MECI") and indirectly owns 0.01%
of MECI through its wholly owned subsidiary EME UK
International LLC, which owns 100% of the Class B shares
of MECI. MECI directly owns 99% of MEC Priolo B.V. and
through its wholly owned subsidiary MEC International
Holdings B.V. indirectly owns the remaining 1% of MEC
Priolo B.V., MEC Priolo B.V. owns 49% of ISAB Energy,
s.r.l., the foreign utility company.
(c) Edison Mission Energy has guaranteed (for the benefit of the banks
financing the construction of the power plant) MEC Priolo B.V.'s
obligation to inject into ISAB equity and subordinated debt
totaling $66,380,204. This amount must be injected on the earlier
of: (i) 56 months after signing the loan documents; (ii) 52 months
after first drawdown of funds; (iii) conversion of the debt into a
term loan or (iv) upon acceleration of the debt. If an event of
default occurs under the financing documents, prior to the
occurrence of one of the four events described above, Edison
Mission Energy's equity and subordinated debt is required to the
extent necessary to bring the equity amount to a pari passu basis
with the current level of loans outstanding from the banks. Also
in connection with the financing of ISAB, Edison Mission Operation
& Maintenance, Inc. ("EMO&M") pursuant to a guarantee (the "EMO&M
Guarantee") has guaranteed (for the benefit of ISAB and the banks
financing the construction of the ISAB power plant) ISAB Energy
Services, S.r.l.'s financial obligations (as the operator) to ISAB
under the Operation and Maintenance Agreement for the operation
and maintenance of the power plant. The maximum payable by EMO&M
under the EMO&M Guarantee is capped at the mobilization fee
56
<PAGE>
or base fee paid in any given year (anywhere from $3-5 million per
year). Deosphalter O&M (capped at base or mobilization fee - less
than $1 million per year).
(d) Capitalization or total equity = $66,380,204
Net income after taxes for 1999 = $0
(e) ISAB and Edison Mission Energy Limited ("EMEL") entered into a
Secondment Agreement on January 1, 1997, wherein EMEL seconds
certain of its employees to ISAB to assist in areas related to
ISAB's business (i.e., project management). Under this agreement,
EMEL has received compensation in the amount of $0 for 1999.
Mission Energy Italia SRL ("MEI") and ISAB have entered into a
Secondment Agreement effective January 1, 1997, wherein MEI
seconds certain of its employees to ISAB to assist in areas
related to ISAB's business (i.e., project control and general
management). Under this Secondment Agreement, MEI has received
$509,132 as of December 31, 1999. EMEL entered into a Sponsor
Support Agreement with ISAB effective January 1, 1997, wherein
EMEL provides activities to ISAB in the areas which include the
following: financial model administration; maintenance and
development of relationship with lenders to ISAB; advice on
finance; maintenance and development of relationship with
insurance companies; maintenance and development of relationship
with international law firms; supervision and preparation of legal
contracts and provide interpretation of existing contracts. During
1999, EMEL has received $194,474 under this Sponsor Support
Agreement.
57
<PAGE>
EXHIBIT A
A CONSOLIDATING STATEMENT OF INCOME AND SURPLUS OF THE CLAIMANT AND ITS
SUBSIDIARY COMPANIES FOR THE LAST CALENDAR YEAR, TOGETHER WITH A CONSOLIDATING
BALANCE SHEET OF CLAIMANT AND ITS SUBSIDIARY COMPANIES AS OF THE CLOSE OF SUCH
CALENDAR YEAR.
EXHIBIT B
FINANCIAL DATA SCHEDULE.
EXHIBIT C
AN ORGANIZATIONAL CHART SHOWING THE RELATIONSHIP OF EACH EWG OR FOREIGN
UTILITY COMPANY TO ASSOCIATE COMPANIES IN THE HOLDING COMPANY SYSTEM.
The above-named claimant has caused this statement to be duly executed on
its behalf by its authorized officer on this 29th day of February, 2000.
EDISON INTERNATIONAL
By: Kenneth S. Stewart
-------------------------
Kenneth S. Stewart
Assistant General Counsel
Corporate Seal
Attest:
Bonita J. Smith
- -------------------
Bonita J. Smith
Assistant Secretary
NAME, TITLE AND ADDRESS OF OFFICER TO WHOM NOTICES AND CORRESPONDENCE
CONCERNING THIS STATEMENT SHOULD BE ADDRESSED:
Kenneth S. Stewart Assistant General Counsel
- -----------------------------------------------------------------
(Name) (Title)
2244 Walnut Grove Avenue, Post Office Box 999, Rosemead, CA 91770
- -----------------------------------------------------------------
(Address)
58
<PAGE>
SCHEDULE I
SOUTHERN CALIFORNIA EDISON COMPANY
ELECTRIC GENERATING PROPERTIES
<TABLE>
<CAPTION>
Generator
Location Unit Date of Nameplate
Name of Plant County No. Operation Rating kW
- --------------------------------------------- --------------------- -------- ----------------- ----------------
<S> <C> <C> <C> <C>
MAIN SYSTEM - SCE OWNED
COAL:
Four Corners San Juan, NM 4 07/01/1969 818,100
Owned by Others - 52% (425,412)
----------------
Owned by SCE - 48% 392,688
5 07/01/1970 818,100
Owned by Others - 52% (425,412)
----------------
Owned by SCE - 48% 392,688
TOTAL SCE 785,376
================
Mohave Clark, NV 1 04/01/1971 818,100
Owned by Others - 44% (359,964)
----------------
Owned by SCE - 56% 458,136
2 10/01/1971 818,100
Owned by Others - 52% (359,964)
----------------
Owned by SCE - 48% 458,136
TOTAL SCE 916,272
================
TOTAL COAL 1,701,648
================
NUCLEAR:
San Onofre San Diego 1 01/01/1968 0
Owned by Others - 20% 0
----------------
Owned by SCE - 80% 0
2 08/08/1983 1,127,000
Owned by Others - 24.95% (281,185)
----------------
Owned by SCE - 75.05% 845,815
3 04/01/1984 1,127,000
Owned by Others - 24.95% (281,185)
----------------
Owned by SCE - 75.05% 845,815
TOTAL SCE 1,691,630
================
Palo Verde Maricopa, AZ 1 02/01/1986 1,403,100
Owned by Others - 84.2% (1,181,410)
----------------
Owned by SCE - 15.8% 221,690
2 09/19/1986 1,403,100
Owned by Others - 84.2% (1,181,410)
----------------
Owned by SCE - 15.8% 221,690
</TABLE>
59
<PAGE>
<TABLE>
<CAPTION>
Generator
Location Unit Date of Nameplate
Name of Plant County No. Operation Rating kW
- --------------------------------------------- --------------------- -------- ----------------- ----------------
<S> <C> <C> <C> <C>
3 01/20/1988 1,403,100
Owned by Others - 84.2% (1,181,410)
----------------
Owned by SCE - 15.8% 221,690
TOTAL SCE 665,070
================
TOTAL NUCLEAR: 2,356,700
================
HYDRO:
NORTHERN REGION HYDROELECTRIC PLANTS:
Big Creek #1 Fresno 1 11/08/1913 19,800
2 11/08/1913 15,750
3 07/12/1923 21,600
4 06/08/1925 28,000
----------------- ----------------
TOTAL PLANT 85,150
Big Creek #2 Fresno 3 12/18/1913 15,750
4 01/11/1914 15,750
5 02/01/1921 17,500
6 03/31/1925 17,500
----------------- ----------------
TOTAL PLANT 66,500
Big Creek #2A Fresno 1 08/06/1928 55,000
2 12/21/1928 55,000
----------------- ----------------
TOTAL PLANT 110,000
Big Creek #3 Fresno & Madera 1 10/03/1923 34,000
2 09/30/1923 34,000
3 10/05/1923 34,000
4 04/28/1948 36,000
5 02/24/1980 36,450
----------------- ----------------
TOTAL PLANT 174,450
Big Creek #4 Fresno & Madera 1 06/12/1951 50,000
2 07/02/1951 50,000
----------------- ----------------
TOTAL PLANT 100,000
Big Creek #8 Fresno 1 08/16/1921 30,000
2 06/08/1929 45,000
----------------- ----------------
TOTAL PLANT 75,000
Mammoth Pool Madera 1 03/28/1960 95,000
2 03/28/1960 95,000
----------------- ----------------
TOTAL PLANT 190,000
Portal Fresno 1 12/22/1956 10,800
</TABLE>
60
<PAGE>
<TABLE>
<CAPTION>
Generator
Location Unit Date of Nameplate
Name of Plant County No. Operation Rating kW
- --------------------------------------------- --------------------- -------- ----------------- ----------------
<S> <C> <C> <C> <C>
NORTHERN REGION HYDROELECTRIC PLANTS
(continued)
John S. Eastwood Fresno 1 12/01/1987 199,800
TOTAL NORTHERN REGION HYDRO
PLANTS 1,011,700
================
EASTERN REGION HYDROELECTRIC PLANTS:
Fontana San Bernardino 1 12/22/1917 1,475
2 12/22/1917 1,475
----------------- ----------------
TOTAL PLANT 2,950
Kaweah #1 Tulare 1 05/25/1929 2,250
Kaweah #2 Tulare 2 09/13/1929 1,800
Kaweah #3 Tulare 1 05/29/1913 2,400
2 05/29/1913 2,400
----------------- ----------------
TOTAL PLANT 4,800
Kern River #1 Kern 1 05/19/1907 6,570
2 06/07/1907 6,570
3 07/29/1907 6,200
4 06/27/1907 6,570
----------------- ----------------
TOTAL PLANT 25,910
Kern River #3 Kern 1 05/13/1921 20,500
2 03/22/1921 19,670
----------------- ----------------
TOTAL PLANT 40,170
Kern River Borel Kern 1 12/31/1904 3,000
2 12/31/1904 3,000
3 01/23/1932 6,000
----------------- ----------------
TOTAL PLANT 12,000
Lytle Creek San Bernardino 1 10/23/1904 250
2 09/15/1904 250
----------------- ----------------
TOTAL PLANT 500
Ontario #1 Los Angeles 1 12/00/1902 200
2 12/00/1902 200
3 12/00/1902 200
----------------- ----------------
TOTAL PLANT 600
Ontario #2 Los Angeles 1 06/13/1963 320
San Gorgonio #1 Riverside 1 12/05/1923 1,500
San Gorgonio #2 Riverside 1 12/17/1923 938
Santa Ana #1 San Bernardino 1 02/14/1899 800
2 02/10/1899 800
3 01/09/1899 800
</TABLE>
6a
<PAGE>
<TABLE>
<CAPTION>
Generator
Location Unit Date of Nameplate
Name of Plant County No. Operation Rating kW
- --------------------------------------------- --------------------- -------- ----------------- ----------------
<S> <C> <C> <C> <C>
EASTERN REGION HYDROELECTRIC PLANTS
(continued)
4 01/10/1899 800
----------------- ----------------
TOTAL PLANT 3,200
Santa Ana #3 San Bernardino 1 11/16/1999 2,000
[Santa Ana #2 replaced by new Santa Ana #3 plant]
Sierra Los Angeles 1 01/12/1922 240
2 02/16/1922 240
----------------- ----------------
TOTAL PLANT 480
Tule River Tulare 1 09/14/1909 1,260
2 09/14/1909 1,260
----------------- ----------------
TOTAL PLANT 2,520
Mill Creek #1 San Bernardino 1 09/07/1893 800
Mill Creek #2 San Bernardino 1 08/03/1904 250
Mill Creek #3 San Bernardino 3 03/20/1903 1,000
4 01/23/1904 1,000
5 03/03/1904 1,000
----------------- ----------------
TOTAL PLANT 3,000
Bishop Creek #2 Inyo 1 11/00/1908 2,500
2 11/00/1908 2,500
3 06/00/1911 2,320
----------------- ----------------
TOTAL PLANT 7,320
Bishop Creek #3 Inyo 1 06/12/1913 2,750
2 06/12/1913 2,340
3 06/12/1913 2,500
----------------- ----------------
TOTAL PLANT 7,590
Bishop Creek #4 Inyo 1 09/20/1905 1,000
2 09/20/1905 1,000
3 00/00/1906 1,985
4 10/01/1907 1,985
5 00/00/1909 1,985
----------------- ----------------
TOTAL PLANT 7,955
Bishop Creek #5 Inyo 1 05/30/1943 2,000
2 06/01/1919 2,532
----------------- ----------------
TOTAL PLANT 4,532
Bishop Creek #6 Inyo 1 03/12/1913 1,600
Lundy Mono 1 12/09/1911 1,500
2 02/02/1912 1,500
----------------- ----------------
TOTAL PLANT 3,000
Poole Mono 1 00/00/1924 11,250
</TABLE>
6b
<PAGE>
<TABLE>
<CAPTION>
Generator
Location Unit Date of Nameplate
Name of Plant County No. Operation Rating kW
- --------------------------------------------- --------------------- -------- ----------------- ----------------
<S> <C> <C> <C> <C>
Rush Creek Mono 1 10/17/1916 4,400
2 12/11/1917 4,000
----------------- ----------------
TOTAL PLANT 8,400
TOTAL EASTERN REGION HYDRO
PLANTS 157,635
================
TOTAL HYDRO PLANTS 1,169,335
================
TOTAL SCE OWNED RESOURCES (MAIN SYSTEM)
5,227,683
================
ISOLATED SYSTEMS:
Pebbly Beach (Diesel) Los Angeles 7 07/03/1958 1,000
(Catalina) 8 06/26/1963 1,500
10 07/25/1966 1,125
12 06/18/1976 1,550
14 10/24/1986 1,400
15 12/31/1995 2,800
----------------- ----------------
TOTAL PLANT 9,375
Catalina Hydro Los Angeles 1 05/05/1983 30
2 07/24/1985 22
3 07/24/1985 57
----------------- ----------------
TOTAL PLANT 109
TOTAL SCE OWNED RESOURCES: 9,484
================
TOTAL ISOLATED SYSTEMS RESOURCES
9,484
================
</TABLE>
6c
<PAGE>
Attached hereto as Exhibit A are the following financial statements dated
as of December 31, 1999, or for the year then ended:
PAGES
Consolidating Balance Sheet and Consolidating Statements of
Income and Retained Earnings, unless otherwise noted:
- -------------------------------Part 2------------------------------
Edison International and Subsidiaries 61-72
Southern California Edison Company and Subsidiaries 73-84
Southern California Edison Company and Subsidiaries
Equity Investments 85
Edison Ventures and Subsidiaries 86-91
The Mission Group and Subsidiaries 92-103
Edison Technology Solutions and Subsidiaries 104-109
Edison Technology Solutions and Subsidiaries
Equity Investments 110
Edison Enterprises and Subsidiaries 111-116
Edison Source and Subsidiaries 117-122
Edison Select and Subsidiaries 122-131
- -------------------------------Part 3------------------------------
Edison Capital and Subsidiaries
Consolidating Balance Sheet (ASSETS) 132-163
- -------------------------------Part 4------------------------------
Edison Capital and Subsidiaries
Consolidating Balance Sheet (LIABILITIES) 164-195
- -------------------------------Part 5------------------------------
Edison Capital and Subsidiaries
Consolidating Statements of Income
and Retained Earnings 196-227
- -------------------------------Part 6a-----------------------------
Edison Capital and Subsidiaries
Equity Investments in Real Estate
Limited Partnerships (A-L) 228-291
- -------------------------------Part 6b-----------------------------
Edison Capital and Subsidiaries
Equity Investments in Real Estate
Limited Partnerships (M-Z) 292-364
- -------------------------------Part 7------------------------------
Mission Land Company and Subsidiaries 365-379
Mission Power Engineering Company and Subsidiaries 380-385
- -------------------------------Part 8------------------------------
Edison Mission Energy and Subsidiaries
Consolidating Balance Sheet 386-449
- -------------------------------Part 9------------------------------
Edison Mission Energy and Subsidiaries
Consolidating Statements of Income and
Retained Earnings 450-481
Edison Mission Energy and Subsidiaries
Equity Investments 482-495
Edison Mission Energy Fuel and Subsidiaries 496-504
Edison Mission Global Management, Inc. and Subsidiaries 505-510
Edison Mission Holdings Co. and Subsidiaries 511-519
Hanover Energy Company and Subsidiaries 520-525
Midwest Generation EME, LLC and Subsidiaries 526-534
6d
<PAGE>
PAGES
- -------------------------------Part 10------------------------------
MEC International B.V. and Subsidiaries 535-579
MECI, Edison Mission Energy Asia Pte Ltd and Subsidiaries 580-588
MECI, Edison Mission Operation & Maintenance
Services B.V. and Subsidiaries 589-594
MECI, Global Generation B.V. and Subsidiaries 595-600
MECI, GGBV, Edison First Power Holdings I and Subsidiaries 601-609
MECI, GGBV, EFPHI, Maplekey Holdings Limited and Subsidiaries 610-615
MECI, GGBV, EFPHI, South Australia Holdings Ltd. and Subsidiaries 616-621
MECI, GGBV, EFPHI, SAHL, EME Monet Ltd. and Subsidiaries 622-627
- -------------------------------Part 11------------------------------
MECI, Hydro Energy B.V. and Subsidiaries 628-633
MECI, Iberian Hy-Power Amsterdam B.V. and Subsidiaries 634-642
MECI, Iberian, Hydro Energy B.V. and Subsidiaries 643-648
MECI, Iberian, Iberica de Energias, S.A. and Subsidiaries 649-654
MECI, Latrobe Power Pty Ltd and Subsidiaries 655-660
MECI, Loy Yang Holdings Pty Ltd and Subsidiaries 661-669
MECI, Loy Yang, Edison Mission Energy Holdings Pty Ltd
and Subsidiaries 670-681
MECI, Loy Yang, Latrobe Power Pty Ltd and Subsidiaries 682-687
MECI, Loy Yang, Mission Energy Ventures Australia Pty Ltd
and Subsidiaries 688-693
MECI, Loy Yang, Traralgon Power Pty. Ltd. and Subsidiaries 694-699
MECI, MEC Esenyurt B.V. and Subsidiaries 700-705
- -------------------------------Part 12------------------------------
MECI, MEC International Holdings B.V. and Subsidiaries 706-732
MECI, MECI Holdings, MEC San Pascual B.V. and Subsidiaries 733-738
MECI, MECI Holdings, MEC Wales B.V. and Subsidiaries 739-744
MECI, MECI Holdings, MEC Wales, Mission Hydro Limited
Partnership and Subsidiaries 745-750
MECI, MECI Holdings, MEC Wales, MHLP, EME Generation
Holdings Limited and Subsidiaries 751-768
- -------------------------------Part 13------------------------------
MECI, MEC San Pascual B.V. and Subsidiaries 769-774
MECI, MEC Wales B.V. and Subsidiaries 775-780
MECI, MEC Wales, Mission Hydro Limited Partnership
and Subsidiaries 781-786
MECI, MEC Wales, MHLP, EME Generation Holdings Limited
and Subsidiaries 787-804
- -------------------------------Part 14------------------------------
MECI, Mission Energy Company (U.K.) Limited and Subsidiaries 805-816
MECI, MEC(UK), Mission Hydro (UK) Limited and Subsidiaries 817-822
MECI, MEC(UK), MH(UK), First Hydro Holdings Co.
and Subsidiaries 823-828
MECI, MEC(UK), MH(UK), Mission Hydro Limited Partnership
and Subsidiaries 829-834
MECI, MEC(UK), MH(UK), MHLP, EME Generation Holdings Limited
and Subsidiaries 835-852
MECI, MEC(UK), Pride Hold Limited and Subsidiaries 853-858
MECI, Pride Hold Limited and Subsidiaries 859-864
MECI, EcoElectrica S.a.r.l. and Subsidiaries 865-873
MECI, Traralgon Power Pty. Ltd. and Subsidiaries 874-879
MEC International B.V. and Subsidiaries
Equity Investments 880-882
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Southern The Mission Group Edison Ventures
California Edison Consolidated Consolidated
Co. Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $26,046 $475,026 -
Receivables - net 1,013,661 512,559 -
Fuel inventory 49,989 191,227 -
Materials and supplies, at average cost 122,866 76,436 -
Accumulated deferred income taxes - net 188,143 - $3
Regulatory balancing accounts - net - - -
Prepayments and other current assets 111,151 39,596 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,511,856 1,294,844 3
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 103,644 12,248,287 -
Nuclear decommissioning trusts 2,508,904 - -
Investments in partnerships
and unconsolidated subsidiaries - 2,504,691 -
Investments in leveraged leases - 1,884,603 -
Other investments 160,241 2,406
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,772,789 16,637,581 2,406
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution 12,439,059 - -
Generation 1,717,676 - -
Accumulated provision for depreciation
and decommissioning (7,520,036) - -
Construction work in progress 562,651 - -
Nuclear fuel, at amortized cost 132,197 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant 7,331,547 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net 1,365,848 - -
Income tax-related deferred charges 1,272,947 - -
Regulatory balancing accounts - net 1,714,973 - -
Unamortized debt issuance and
reacquisition expense 335,044 - -
Other deferred charges 1,352,302 910,078 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 6,041,114 910,078 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $17,657,306 $18,842,503 $2,409
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
62
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Insurance Edison Drives Edison
Services, Inc. Electric International
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $947 - $5,562
Receivables - net 55 $17 107,413
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 162 - 1,726
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,164 17 114,701
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 164
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 7,253,922
Investments in leveraged leases - - -
Other investments 17,947 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 17,947 7,254,086
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - 4,762
Other deferred charges - - 127
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 4,889
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $19,111 $17 $7,373,676
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
63
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EIX Trust I EIX Trust II EIX Trust III
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $3,383 $2,401 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 1,402 960 -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 4,785 3,361 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases 515,464 335,052 -
Other investments - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 515,464 335,052
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $520,249 $338,413 -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
64
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison
Adjustments International
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $507,581 -
Receivables - net ($261,067) 1,378,422 -
Fuel inventory - 241,216 -
Materials and supplies, at average cost - 199,302 -
Accumulated deferred income taxes - net - 190,508 -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 152,635 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (261,067) 2,669,664 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 12,352,095 -
Nuclear decommissioning trusts - 2,508,904 -
Investments in partnerships
and unconsolidated subsidiaries (7,253,922) 2,504,691 -
Investments in leveraged leases (850,516) 1,884,603 -
Other investments - 180,594 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (8,104,438) 19,430,887
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - 12,439,059 -
Generation - 1,717,676 -
Accumulated provision for depreciation
and decommissioning - (7,520,036) -
Construction work in progress - 562,651 -
Nuclear fuel, at amortized cost - 132,197 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - 7,331,547 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - 1,365,848 -
Income tax-related deferred charges - 1,272,947 -
Regulatory balancing accounts - net - 1,714,973 -
Unamortized debt issuance and
reacquisition expense - 339,806 -
Other deferred charges (158,791) 2,103,716 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (158,791) 6,797,290 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($8,524,296) $36,229,388 -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
65
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Southern The Mission Group Edison Ventures
California Edison Consolidated Consolidated
Company
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $795,988 $1,276,629
Current portion of long-term debt 571,300 390,741 -
Accounts payable 573,919 67,861 $16
Accrued taxes 500,709 15,566 -
Accrued interest 82,554 92,899 -
Dividends payable 94,407 659 -
Regulatory balancing accounts-net 75,693
Deferred unbilled revenue and other
current liabilities 1,440,387 486,030 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4,134,957 2,330,385 16
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 5,136,681 7,663,399 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 2,938,661 2,812,568 -
Accumulated deferred investment
tax credits 205,197 19,439 -
Customer advances and other deferred
credits 823,992 - -
Power purchase contracts 563,459
Other long-term liabilities 336,473 1,408,476 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 4,867,782 4,240,483 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 335 8,443 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption 128,755 118,054 -
Subject to mandatory redemption 255,700 208,840 -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - 150,000 -
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 384,455 476,894 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 2,168,054 147,866 -
Additional paid-in capital 335,038 3,384,848 2,406
Accumulated other comprehensive income: -
Cumulative translation adjustments - net 10,448 -
Unrealized gain in equity securities-net 21,551 -
Retained earnings 608,453 579,737 (13)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 3,133,096 4,122,899 2,393
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $17,657,306 $18,842,503 $2,409
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
66
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Insurance Edison Drives Edison
Services, Inc. Electric International
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - $480,759
Current portion of long-term debt - - -
Accounts payable - $53 121,139
Accrued taxes $3 - (109,508)
Accrued interest - - 19,104
Dividends payable - - 93,746
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other - - -
current liabilities 526 - 2,645
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 529 53 607,885
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - 1,595,072
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 6,576 - (981)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Power purchase contracts - - 1,599
Other long-term liabilities - - 998
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 6,576 - 1,616
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1 - 2,090,212
Additional paid-in capital 1,729 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net 9,641 -
Retained earnings 635 (36) 3,078,891
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 12,006 (36) 5,169,103
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $19,111 $17 $7,373,676
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
67
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EIX Trust I EIX Trust II EIX Trust III
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $18,105 $11,582
Accrued taxes - - -
Accrued interest - - -
Dividends payable 3,281 2,251
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other - - -
current liabilities - 1
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 21,386 13,834
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding - - -
solely parent company debentures 483,700 314,538
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 483,700 314,538 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 15,464 10,052 -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (301) (11)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 15,163 10,041
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $520,249 $338,413
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
68
Edison International and Subsidiaries [Tier 1]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison
Adjustments International
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $2,553,376 -
Current portion of long-term debt - 962,041 -
Accounts payable ($167,328) 625,347 -
Accrued taxes - 406,770 -
Accrued interest (5,784) 188,773 -
Dividends payable (93,746) 100,598 -
Regulatory balancing accounts-net - 75,693 -
Deferred unbilled revenue and other
current liabilities - 1,929,589 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (266,858) 6,842,187 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (1,003,516) 13,391,636 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 5,756,824 -
Accumulated deferred investment 224,636
tax credits - - -
Customer advances and other deferred
credits - 2,094,225 -
Power purchase contracts - 563,459 -
Other long-term liabilities - 477,313 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 9,116,457 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 8,778 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - 128,755 -
Subject to mandatory redemption - 255,700 -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - 948,238 -
Other preferred securities - 326,894 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - 1,659,587 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (2,341,437) 2,090,212 -
Additional paid-in capital (3,724,021) -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - 10,448 -
Unrealized gain in equity securities-net - 31,192
Retained earnings (1,188,464) 3,078,891 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (7,253,922) 5,210,743 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($8,524,296) $36,229,388 -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
69
Edison International and Subsidiaries [Tier 1]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Southern The Mission Group Edison Ventures
California Edison Consolidated Consolidated
Company
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility $7,521,891 - -
Unregulated power generation - $1,642,568 -
Financial services and other 109 504,582 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 7,522,000 2,147,150 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 225,388 449,137 -
Purchased power - contracts 2,419,147 - -
Purchased power - power exchange 759,818 - -
Provisions for reg. adj. clauses - net (736,830) - -
Other operation and maintenance 1,920,011 973,151 $6
Depreciation, decommissioning and
amortization 1,546,312 247,605 -
Property and other taxes 569,869 (128,083) 2
Net loss (gain) on sale of utility plant (3,035) - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 6,673,680 1,541,810 8
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 848,320 605,340 (8)
Other utility operating income-net 364 - -
Interest and dividend income 69,029 32,047 -
Other nonoperating income (deductions)-net 63,374 (31,483) -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 132,767 564
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 981,087 605,904 (8)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 392,894 345,517 -
Other interest expense - net 79,962 83,144 -
Capitalized interest (1,211) (27,471) -
Dividends on preferred securities - 22,375 -
Dividends on utility preferred stock 25,889 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 497,534 423,565 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (21) (2,951) -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 483,532 179,388 (8)
Retained earnings - beginning of year 793,625 400,944 (5)
Dividends declared on common stock/other - (595) -
Dividends declared on preferred stock (668,704) - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $608,453 $579,737 ($13)
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
70
Edison International and Subsidiaries [Tier 1]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
ENvestSCE Catalina Edison Insurance Edison Drives
EPTC Taxes Services, Inc. Electric
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - $862 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 862 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net
Other operation and maintenance - 360 $20
Depreciation, decommissioning and
amortization - -
Property and other taxes - 195 (6)
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 555 14
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 307 (14)
Other utility operating income-net ($364) - 1
Interest and dividend income - - -
Other nonoperating income (deductions)-net 364 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - 1
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 307 (13)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - 307 (13)
Retained earnings - beginning of year - 327 (23)
Dividends declared on common stock/other - - -
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - $635 ($36)
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
71
Edison International and Subsidiaries [Tier 1]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EIX Trust I EIX Trust II EIX Trust III
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - -
Property and other taxes $162 $100 -
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 162 100 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (162) (100) -
Other utility operating income-net - - -
Interest and dividend income 17,590 4,962 -
Other nonoperating income (deductions)-net - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 17,590 4,962 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 17,428 4,862 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities 17,193 4,719 -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 17,193 4,719
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 235 143
Retained earnings - beginning of year - - -
Dividends declared on common stock/other - - -
Dividends declared on preferred stock (536) (154) -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($301) ($11) -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
72
Edison International and Subsidiaries [Tier 1]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Consolidating Edison
International Adjustments International
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - $7,521,891
Unregulated power generation - - 1,642,568
Financial services and other $61,262 ($61,210) 505,605
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 61,262 (61,210) 9,670,064
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - 674,525
Purchased power - contracts - - 2,419,147
Purchased power - power exchange - - 759,818
Provisions for reg. adj. clauses - net - - (763,830)
Other operation and maintenance 89,129 (61,215) 2,921,462
Depreciation, decommissioning and
amortization 45 - 1,793,953
Property and other taxes (26,823) - 415,416
Net loss (gain) on sale of utility plant - - (3,035)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 62,351 (61,215) 8,217,456
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (1,089) - 1,452,608
Other utility operating income-net - - -
Interest and dividend income 12,630 (40,624) 95,635
Other nonoperating income (deductions)-net (1,975) (21) 30,259
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 10,655 (40,645) 125,894
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 9,566 (43,631) 1,578,502
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 13,847 - 734,244
Other interest expense - net 36,274 (40,631) 176,763
Capitalized interest - - (28,682)
Dividends on preferred securities - - 44,287
Dividends on utility preferred stock - - 25,889
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 50,121 (40,631) 952,501
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - (2,972)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (40,555) - 623,030
Retained earnings - beginning of year 2,906,432 (1,194,868) 2,906,432
Dividends declared on common stock/other - - (375,351)
Dividends declared on preferred stock - - (75,220)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $3,078,891 ($1,188,464) $3,078,891
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
73
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
California Conservation Edison ESI
Electric Power Financing
Company Corporation
(Inactive)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - $790
Receivables - net - - 4,149
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - 132
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 4,093
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - 9,164
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 82
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - - 82
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - $151,000 1
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 151,000 1
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $151,000 $9,247
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
74
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Material Mono Power Company SCE Capital Company
Supply LLC (Inactive)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $852 -
Receivables - net $158,454 - -
Fuel inventory - - -
Materials and supplies, at average cost 21,682 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 180,136 852 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $180,136 $852 -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
75
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
SCE Funding LLC SCE UK Services Southern States
Limited Realty
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $1,318 - $5
Receivables - net 5 $34 240
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 1 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,323 35 245
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 69
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments 35,946 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 35,946 - 69
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - 398
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense (507) - -
Other deferred charges 1,973,514 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,973,007 - 398
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,010,276 $35 $712
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
76
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Southern Consolidating Southern
California Edison Adjustments California Edison
Company Co. Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $23,081 - $26,046
Receivables - net 1,170,618 ($319,839) 1,013,661
Fuel inventory 49,989 - 49,989
Materials and supplies, at average cost 101,184 - 122,866
Accumulated deferred income taxes - net 188,011 - 188,143
Regulatory balancing accounts - net (75,693) 75,693 -
Prepayments and other current assets 107,057 - 111,151
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,564,247 (244,146) 1,511,856
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 103,493 - 103,644
Nuclear decommissioning trusts 2,508,904 - 2,508,904
Investments in partnerships
and unconsolidated subsidiaries 165,876 (165,876) -
Investments in leveraged leases - - -
Other investments 124,295 - 160,241
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,902,568 (165,876) 2,772,789
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution 12,439,059 - 12,439,059
Generation 1,717,676 - 1,717,676
Accumulated provision for depreciation
and decommissioning (7,520,036) - (7,520,036)
Construction work in progress 562,651 - 562,651
Nuclear fuel, at amortized cost 132,197 - 132,197
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant 7,331,547 - 7,331,547
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net 1,365,848 - 1,365,848
Income tax-related deferred charges 1,272,549 - 1,272,947
Regulatory balancing accounts - net 1,714,973 - 1,714,973
Unamortized debt issuance and
reacquisition expense 335,551 - 335,044
Other deferred charges 1,201,301 (1,973,514) 1,352,302
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 5,890,222 (1,973,514) 6,041,114
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $17,688,584 ($2,383,536) $17,657,306
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
77
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
California Conservation Edison ESI
Electric Power Financing
Company (Inactive) Corporation
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - $5,784 $2,349
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other - - -
current liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 5,784 2,349
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (52,717) 453
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - 123,151 1,107
Other long-term liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 70,434 1,560
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 335 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 20 -
Additional paid-in capital 62,983 100
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings - 11,444 5,238
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 74,447 5,338
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $151,000 $9,247
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
78
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Material Mono Power Company SCE Capital Company
Supply LLC (Inactive)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $129,258 $403 $2,088
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities 1,608 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 130,866 403 2,088
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - 1 -
Other long-term liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 1 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 5 - 20
Additional paid-in capital 49,995 2,749 100
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (730) (2,301) (2,208)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 49,270 448 (2,088)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $180,136 $852 -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
79
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
SCE Funding LLC SCE UK Services Southern States
Limited Realty
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $246,300 - -
Current portion of long-term debt 562 - -
Accounts payable - $3 -
Accrued taxes - 3 -
Accrued interest 1,728 18 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 248,590 24 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,723,552 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - $396
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - 396
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 46,296 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (8,162) 11 316
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 38,134 11 316
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,010,276 $35 $712
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
80
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Southern Consolidating Southern
California Edison Adjustments California Edison
Company Company
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $795,988 - $795,988
Current portion of long-term debt 325,000 - 571,300
Accounts payable 751,703 ($318,231) 573,919
Accrued taxes 500,706 - 500,709
Accrued interest 80,808 - 82,554
Dividends payable 94,407 - 94,407
Regulatory balancing accounts - net - - 75,693
Deferred unbilled revenue and other
current liabilities 1,434,622 4,157 1,440,387
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 3,983,234 (238,381) 4,134,957
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 5,386,643 (1,973,514) 5,136,681
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 2,990,529 - 2,938,661
Accumulated deferred investment
tax credits 205,197 - 205,197
Customer advances and other deferred
credits 699,733 - 823,992
Other long-term liabilities 905,697 (5,765) 899,932
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 4,801,156 (5,765) 4,867,782
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - 335
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption 128,755 - 128,755
Subject to mandatory redemption 255,700 - 255,700
Company-obligated mandatorily redeemable - - -
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 384,455 - 384,455
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 2,168,054 (45) 2,168,054
Additional paid-in capital 335,038 (162,223) 335,038
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net 21,551 - 21,551
Retained earnings 608,453 (3,608) 608,453
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 3,133,096 (165,876) 3,133,096
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $17,688,584 ($2,383,536) $17,657,306
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
81
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
California Conservation Edison ESI
Electric Power Financing
Company (Inactive) Corporation
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - $31,465
Unregulated power generation - - -
Financial services and other - - 109
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - 31,574
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - $139 28,005
Depreciation, decommissioning and
amortization - - 40
Property and other taxes - 3,612 1,408
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 3,751 29,453
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - (3,751) 2,121
Other utility operating income-net - - -
Interest and dividend income - 8,658 25
Other nonoperating income (deductions)-net - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 8,658 25
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 4,907 2,146
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - 214 177
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 214 177
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - (21) -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - 4,672 1,969
Retained earnings - beginning of year - 6,772 3,269
Dividends declared on common stock/other - - -
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - $11,444 $5,238
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
82
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Material Mono Power Company SCE Capital Company
Supply LLC (Inactive)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility $91,788 $700 -
Unregulated power generation - - -
Financial services and other - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 91,788 700 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 92,531 - $5
Depreciation, decommissioning and
amortization - - -
Property and other taxes - 307 3
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 92,531 307 8
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (743) 393 (8)
Other utility operating income-net 13 - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 13 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (730) 393 (8)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (730) 393 (8)
Retained earnings - beginning of year - (2,694) (2,200)
Dividends declared on common stock/other - - -
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($730) ($2,301) ($2,208)
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
83
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
SCE Funding LLC SCE UK Services Southern States
Limited Realty
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility $134,258 $192 -
Unregulated power generation - - -
Financial services and other - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 134,258 192 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 5,430 181 $9
Depreciation, decommissioning and
amortization - - -
Property and other taxes - 3 (226)
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 5,430 184 (217)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating Income 128,828 8 217
Other utility operating income-net - - -
Interest and dividend income 3,412 - -
Other nonoperating income (deductions)-net - - 3
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 3,412 - 3
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 132,240 8 220
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 135,565 - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 135,565 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (3,325) 8 220
Retained earnings - beginning of year (4,837) 3 94
Dividends declared on common stock/other - - -
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($8,162) $11 $316
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
84
Southern California Edison Company and Subsidiaries [Tier 2]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Southern Consolidating Southern
California Edison Adjustments California Edison
Company Company
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility $7,489,533 ($226,046) $7,521,891
Unregulated power generation - - -
Financial services and other - - 109
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 7,489,533 (226,046) 7,522,000
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 225,388 - 225,388
Purchased power - contracts 2,419,147 - 2,419,147
Purchased power - power exchange 759,818 - 759,818
Provisions for reg. adj. clauses - net (763,830) - (763,830)
Other operation and maintenance 1,885,496 (91,785) 1,920,011
Depreciation, decommissioning and
amortization 1,546,272 - 1,546,312
Property and other taxes 564,765 (2) 569,869
Net loss (gain) on sale of utility plant (3,036) (1) (3,035)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 6,634,020 (91,787) 6,673,680
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating Income 855,513 (134,258) 848,320
Other utility operating income-net 364 - 364
Interest and dividend income 57,322 (380) 69,029
Other nonoperating income (deductions)-net 63,366 (16) 63,374
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 121,052 (396) 132,767
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 976,565 (134,654) 981,087
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 391,592 (134,263) 392,894
Other interest expense - net 79,962 (391) 79,962
Capitalized interest (1,211) - (1,211)
Dividends on preferred securities - - -
Dividends on utility preferred stock 25,889 - 25,889
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 496,232 (134,654) 497,534
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - (21)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 480,333 - 483,532
Retained earnings - beginning of year 793,625 (407) 793,625
Dividends declared on common stock/other - - -
Dividends declared on preferred stock (665,505) (3,199) (668,704)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $608,453 ($3,606) $608,453
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
85
Southern California Edison Company and Subsidiaries
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Bear Creek Uranium
Name of Entity: Company (inactive)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets -
Revenues -
Net Income (Loss) -
Nature/Purpose of Business: To develop and operate an
inte-grated uranium
mining complex in Wyoming.
Ownership Interest(s): 50% by Mono Power Company
</TABLE>
<PAGE>
86
Edison Ventures and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Ventures Edison TransEnergy Consolidating
Adjustments
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net $3 - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 3 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments 2,406 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,406
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,409 - -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
87
Edison Ventures and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Ventures
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net $3 - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 3 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments 2,406 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,406
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,409 - -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
88
Edison Ventures and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Ventures Edison TransEnergy Consolidating
Adjustments
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable $16 - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 16 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 2,406 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (13) - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,396 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,409 - -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
89
Edison Ventures and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Ventures
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable $16 - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 16 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 2,406 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (13) - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,396 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,409 - -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
90
Edison Ventures and Subsidiaries [Tier 2]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Ventures Edison TransEnergy Consolidating
Adjustments
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $6 - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes 2 - -
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 8 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Other utility operating income-net
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (8) - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (8)
Retained earnings - beginning of year (5) - -
Dividends declared on common stock/other - - -
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($13) - -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
91
Edison Ventures and Subsidiaries [Tier 2]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Ventures
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $6 - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes 2 - -
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 8 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Other utility operating income-net
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (8) - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (8)
Retained earnings - beginning of year (5) - -
Dividends declared on common stock/other - - -
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($13) - -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
92
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
The Mission Group Edison O&M Services Edison Technology
Solutions
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $194 - $7,472
Receivables - net 10,068 - 2,842
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 10,262 - 10,314
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 10,000 - -
Investments in leveraged leases - - -
Other investments 3,905,314 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 3,915,314
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 9,537 - 1,333
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 9,537 - 1,333
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $3,935,113 - $11,647
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
93
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Enterprises Edison Mission
Environmental Consolidated Energy Consolidated
Services
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $1,042 $398,695
Receivables - net - 63,256 265,816
Fuel inventory - - 191,227
Materials and supplies, at average cost - 8,799 67,637
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 1,639 33,984
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 74,736 957,359
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 41,883 12,122,334
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 1,940,876
Investments in leveraged leases - - -
Other investments - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 41,883 14,063,210
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 378,117 513,652
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 378,117 513,652
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $494,736 $15,534,221
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
94
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Mission Land Mission Power
Consolidated Company Engineering
Consolidated Company
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $54,754 $12,869 -
Receivables - net 177,593 3,669 $12
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 3,964 9 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 236,311 16,547 12
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,140 77,930 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 555,418 - -
Investments in leveraged leases 1,884,603 - -
Other investments - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,446,161 77,930 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 29,984 17,271 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 29,984 17,271 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,712,456 $111,748 $12
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
95
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating The Mission Group
Adjustments Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $475,026 -
Receivables - net ($10,697) 512,559 -
Fuel inventory - 191,227 -
Materials and supplies, at average cost - 76,436 -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 39,596 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (10,697) 1,294,844 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 12,248,287 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (1,603) 2,504,691 -
Investments in leveraged leases - 1,884,603 -
Other investments (3,905,314) - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (3,906,917) 16,637,581
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges (39,816) 910,078 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (39,816) 910,078 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($3,957,430) $18,842,503 -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
96
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
The Mission Group Edison O&M Services Edison Technology
Solutions
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- ---------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- ---------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable $468 - $4,127
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities 184 - 1,541
- ------------------------------------------------------------- -------------------- -------------------- ---------------------
Total current liabilities 652 - 5,668
- ------------------------------------------------------------- -------------------- -------------------- ---------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- ---------------------
Accumulated deferred income taxes - net - - 927
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 683 - -
- ------------------------------------------------------------- -------------------- -------------------- ---------------------
Total deferred credits & other liabilities 683 - 927
- ------------------------------------------------------------- -------------------- -------------------- ---------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- ---------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- ---------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- ---------------------
Common stock 147,866 - -
Additional Paid-In Capital 3,384,848 - 9,946
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings 401,064 - (4,894)
- ------------------------------------------------------------- -------------------- -------------------- ---------------------
Total common shareholders' equity 3,933,778 - 5,052
- ------------------------------------------------------------- -------------------- -------------------- ---------------------
Total liabilities and shareholders' equity $3,935,113 - $11,647
============================================================= ==================== ==================== =====================
</TABLE>
<PAGE>
97
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Enterprises Edison Mission
Environmental Consolidated Energy Consolidated
Services
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - $1,122,067
Current portion of long-term debt - - 225,679
Accounts payable - $10,005 57,740
Accrued taxes - 2,267 12,927
Accrued interest - - 89,272
Dividends payable - - 659
Deferred unbilled revenue and other
current liabilities - 72,666 264,503
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 84,938 1,772,847
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - 7,439,308
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 5,579 1,501,051
Accumulated deferred investment
tax credits - - 19,439
Customer advances and other deferred
credits - - -
Other long-term liabilities - 14,610 1,248,169
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 20,189 2,768,659
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - 8,036
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - 118,054
Subject to mandatory redemption - - 208,840
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - 150,000
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - 476,894
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 64,130
Additional Paid in Capital - 529,377 2,629,406
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - 10,507
Unrealized gain in equity securities-net - - -
Retained earnings - (139,768) 364,434
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 389,609 3,068,477
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $494,736 $15,534,221
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
98
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Mission Land Mission Power
Consolidated Company Engineering
Consolidated Company
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $154,562 - -
Current portion of long-term debt 285,659 - -
Accounts payable 5,998 $220 -
Accrued taxes - 372 -
Accrued interest 3,477 - $150
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities 25,214 1,325 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 474,910 1,917 150
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 224,091 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,336,933 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 139,597 5,417 8,701
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 1,476,530 5,417 8,701
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 407 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 3,000
Additional Paid in Capital 80,597 102,581 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (59) - -
Unrealized gain in equity securities-net - -
Retained earnings 455,980 1,833 (11,839)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 536,518 104,414 (8,839)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,712,456 $111,748 $12
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
99
The Mission Group and Subsidiaries [Tier 2]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating The Mission Group
Adjustments Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $1,276,629 -
Current portion of long-term debt - 511,338 -
Accounts payable ($10,697) 67,861 -
Accrued taxes - 15,566 -
Accrued interest - 92,899 -
Dividends payable - 659 -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - 365,433 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (10,697) 2,330,385 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 7,663,399 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (31,922) 2,812,568 -
Accumulated deferred investment
tax credits - 19,439 -
Customer advances and other deferred
credits - - -
Other long-term liabilities (8,701) 1,408,476 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (40,623) 4,240,483 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 8,443 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - 118,054 -
Subject to mandatory redemption - 208,840 -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - 150,000 -
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - 476,894 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (67,130) 147,866 -
Additional Paid in Capital (3,351,907) 3,384,848
Accumulated other comprehensive income:
Cumulative translation adjustments - net - 10,448 -
Unrealized gain in equity securities-net - -
Retained earnings (487,073) 579,737 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (3,906,110) 4,122,899 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($3,957,430) $18,842,503 -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
100
The Mission Group and Subsidiaries [Tier 2]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
The Mission Group Edison O&M Services Edison Technology
Solutions
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - $6,955
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - 6,955
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $350 - 11,629
Depreciation, decommissioning and
amortization - - 90
Property and other taxes (134) - (1,492)
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 216 - 10,277
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (216) - (3,272)
Other utility operating income-net - - -
Interest and dividend income 7 - 241
Other nonoperating income (deductions)-net - - 684
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 7 - 925
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (209) - (2,347)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (209) (2,347)
Retained earnings - beginning of year 209,325 - (2,546)
Dividends declared on common stock/other 191,948 - (1)
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $401,064 - ($4,894)
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
101
The Mission Group and Subsidiaries [Tier 2]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Edison Enterprises Edison Mission
Environmental Consolidated Energy Consolidated
Services
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - $1,630,451
Financial services and other - $204,678 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 204,678 1,630,451
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - 449,137
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 292,458 571,675
Depreciation, decommissioning and
amortization - 34,374 190,219
Property and other taxes - (50,652) (40,412)
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 276,180 1,170,619
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - (71,502) 459,439
Other utility operating income-net - - -
Interest and dividend income - - 27,911
Other nonoperating income (deductions)-net - - 21,410
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - 49,321
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (71,502) 508,760
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - 336,683
Other interest expense - net - 7,440 43,942
Capitalized interest - - (27,471)
Dividends on preferred securities - - 22,375
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 7,440 375,529
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - (2,954)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - (78,942) 130,277
Retained earnings - beginning of year - (60,650) 234,345
Dividends declared on common stock/other - (176) (188)
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($139,768) $364,434
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
102
The Mission Group and Subsidiaries [Tier 2]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Mission Land Mission Power
Consolidated Company Engineering
Consolidated Company
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $282,480 $10,469 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 282,480 10,469 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 91,126 7,743 $109
Depreciation, decommissioning and
amortization 22,470 451 1
Property and other taxes (24,940) 2,066 125
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 88,656 10,260 235
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 193,824 209 (235)
Other utility operating income-net - - -
Interest and dividend income 3,751 137 -
Other nonoperating income (deductions)-net (27,616) - 1,004
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (23,865) 137 1,004
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 169,959 346 769
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 8,834 - -
Other interest expense - net 31,762 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 40,596 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest 3 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 129,366 346 769
Retained earnings - beginning of year 326,845 1,487 (12,608)
Dividends declared on common stock/other (231) - -
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $455,980 $1,833 ($11,839)
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
103
The Mission Group and Subsidiaries [Tier 2]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating The Mission Group
Adjustments Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $12,117 $1,642,568 -
Financial services and other - 504,582 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 12,117 2,147,150 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 449,137 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance (1,939) 973,151 -
Depreciation, decommissioning and
amortization - 247,605 -
Property and other taxes (12,644) (128,083) -
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (14,583) 1,541,810 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 27,093 605,340 -
Other utility operating income-net - - -
Interest and dividend income - 32,047 -
Other nonoperating income (deductions)-net (26,965) (31,483) -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (26,965) 564 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (2,823) 605,904 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 345,517 -
Other interest expense - net - 83,144 -
Capitalized interest - (27,471) -
Dividends on preferred securities - 22,375 -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 423,565 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - (2,951) -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 216 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 88 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 128 179,388
Retained earnings - beginning of year (295,254) 400,944 -
Dividends declared on common stock/other (191,947) (595) -
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($487,073) $579,737 -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
104
Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Technology Edison EV Consolidating
Solutions Adjustments
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $4,364 $3,108 -
Receivables - net 2,193 825 ($176)
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 6,557 3,933 (176)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 1,333 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 1,333 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $6,557 $5,266 ($176)
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
105
Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Technology
Solutions
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $7,472 - -
Receivables - net 2,842 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 10,314 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 1,333 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,333 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $11,647 - -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
106
Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Technology Edison EV Consolidating
Solutions Adjustments
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes $3,112 $1,191 ($176)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities 926 615 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4,038 1,806 (176)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 927 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 927 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 6,000 3,946
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (4,408) (486) -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,592 3,460 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $6,557 $5,266 ($176)
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
107
Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Technology
Solutions
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $4,127 - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities 1,541 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 5,668 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 927 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 927 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 9,946
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (4,894) - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 5,052 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $11,647 - -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
108
Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Technology Edison EV Consolidating
Solutions Adjustments
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $4,084 $2,871 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 4,084 2,871 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 7,767 3,862 -
Depreciation, decommissioning and
amortization 32 58 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 7,799 3,920 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (3,715) (1,049) -
Other utility operating income-net - -
Interest and dividend income 151 90 -
Other nonoperating income (deductions)-net (47) 731 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 104 821 -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (3,611) (228) -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (3,611) (228) -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (1,372) (120) -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (2,239) (108)
Retained earnings - beginning of year (2,168) (378) -
Dividends declared on common stock/other (1) - -
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($4,408) ($486) -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
109
Edison Technology Solutions and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Technology
Solutions
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $6,955 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 6,955 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 11,629 - -
Depreciation, decommissioning and
amortization 90 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 11,719 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (4,764) - -
Other utility operating income-net -
Interest and dividend income 241 - -
Other nonoperating income (deductions)-net 684 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 925 - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (3,839) - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (3,839) - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (1,492) - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (2,347)
Retained earnings - beginning of year (2,546) - -
Dividends declared on common stock/other (1) - -
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($4,894) - -
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
110
Edison Technology Solutions and Subsidiaries
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Facilichem, Inc.
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets
Revenues -
Net Income (Loss)
Nature/Purpose of Business: Research, development and
commercialization of
liquid membrane
technologies
Ownership Interest(s): 10% by Edison Technology
Solutions with option to
increase interest to
16.66%
</TABLE>
<PAGE>
111
Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Enterprises Edison Source Edison Select
Consolidated Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - ($1,455) ($2,398)
Receivables - net $41,085 36,263 126,605
Fuel inventory - - -
Materials and supplies, at average cost - 5,673 3,126
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 26 450 1,144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 41,111 40,931 128,477
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 4,064 36,370
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (97,404) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (97,404) 4,064 36,370
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges (257) 22,987 337,430
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (257) 22,987 337,430
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($56,550) $67,982 $502,277
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
112
Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Utility Consolidating Edison Enterprises
Services Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents ($1) $4,896 $1,042
Receivables - net 1,095 (141,792) 63,256
Fuel inventory - - -
Materials and supplies, at average cost - - 8,799
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (55) 74 1,639
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,039 (136,822) 74,736
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,447 2 41,883
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 97,404 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,447 97,406 41,883
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 17,957 378,117
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 17,957 378,117
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,486 ($21,459) $494,736
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
113
Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Enterprises Edison Source Edison Select
Consolidated Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable $16,990 $8,717 $121,003
Accrued taxes 147 802 1,316
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities 5,640 36,022 30,672
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 22,777 45,541 152,991
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (5,211) (12,331) 5,579
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
Credits - - -
Other long-term liabilities 1,967 1,080 10,835
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (3,244) (11,251) 16,414
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional Paid-in Capital 63,549 86,698 373,970
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (139,632) (53,006) (41,098)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (76,083) 33,692 332,872
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($56,550) $67,982 $502,277
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
114
Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Utility Consolidating Edison Enterprises
Services Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable $194 ($136,899) $10,005
Accrued taxes 2 - 2,267
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities 253 79 72,666
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 449 (136,820) 84,938
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (413) 17,955 5,579
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
Credits - - -
Other long-term liabilities 728 - 14,610
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 315 17,955 20,189
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional Paid-in Capital 5,206 (46) 529,377
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (3,484) 97,452 (139,768)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,722 97,406 389,609
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,486 ($21,459) $494,736
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
115
Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Enterprises Edison Source Edison Select
Consolidated Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - $88,493 $115,162
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 88,493 115,162
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $52,132 106,339 131,075
Depreciation, decommissioning and
Amortization 4,343 4,604 24,710
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 56,475 110,943 155,785
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (56,475) (22,450) (40,623)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net 1,832 3,407 1,991
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 1,832 3,407 1,991
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (58,307) (25,857) (42,614)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (22,724) (10,093) (16,741)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (35,583) (15,764) (25,873)
Retained earnings - beginning of year (60,650) (37,181) (15,225)
Dividends declared on common stock/other (43,399) (61) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($139,632) ($53,006) ($41,098)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
116
Edison Enterprises and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Utility Consolidating Edison Enterprises
Services Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $1,023 - $204,678
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,023 - 204,678
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 2,912 - 292,458
Depreciation, decommissioning and
Amortization 717 - 34,374
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3,629 - 326,832
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (2,606) - (122,154)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net 210 - 7,440
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 210 - 7,440
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (2,816) - (129,594)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (1,094) - (50,652)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1,722) (78,942)
Retained earnings - beginning of year (1,685) $54,091 (60,650)
Dividends declared on common stock/other (77) 43,361 (176)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($3,484) $97,452 ($139,768)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
117
Edison Source and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Source G.H.V. Refrigera- Consolidating
tion, Inc. Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents ($4,932) ($2,523) $6,000
Receivables - net 35,521 6,742 (6,000)
Fuel inventory - - -
Materials and supplies, at average cost 3,594 2,079 -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 410 40 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 34,593 6,338 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 2,832 1,232 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,832 1,232
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 23,183 (196) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 23,183 (196) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $60,608 $7,374 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
118
Edison Source and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Source
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents ($1,455) - -
Receivables - net 36,263 - -
Fuel inventory - - -
Materials and supplies, at average cost 5,673 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 450 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 40,931 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 4,064 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 4,064
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 22,987 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 22,987 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $67,982 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
119
Edison Source and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Source G.H.V. Refrigera- Consolidating
tion, Inc. Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable $6,290 $9,786 ($7,359)
Accrued taxes 802 - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities 24,773 3,890 7,359
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 31,865 13,676 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (12,331) - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
Credits - - -
Other long-term liabilities 591 489 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (11,740) 489 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional Paid-in Capital 86,638 60 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (46,155) (6,851) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 40,483 (6,791) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $60,608 $7,374 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
120
Edison Source and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Source
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable $8,717 - -
Accrued taxes 802 - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities 36,022 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 45,541 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (12,331) - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
Credits - - -
Other long-term liabilities 1,080 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (11,251) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
Securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional Paid-in Capital 86,698 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (53,006) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 33,692 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $67,982 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
121
Edison Source and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Source G.H.V. Refrigera- Consolidating
tion, Inc. Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $69,454 $19,039 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 69,454 19,039 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 85,610 20,729 -
Depreciation, decommissioning and
Amortization 4,512 92 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 90,122 20,821 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (20,668) (1,782) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net 3,413 (6) -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 3,413 (6) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (24,081) (1,776) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (10,095) 2 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (13,986) (1,778)
Retained earnings - beginning of year (38,219) 1,038 -
Dividends declared on common stock/other 6,050 (6,111) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($46,155) ($6,851) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
122
Edison Source and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Source
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $88,493 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 88,493 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 106,339 - -
Depreciation, decommissioning and
Amortization 4,604 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 110,943 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (22,450) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net 3,407 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 3,407 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (25,857) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (10,093) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (15,764)
Retained earnings - beginning of year (37,181) - -
Dividends declared on common stock/other (61) - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($53,006) - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
123
Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Select Edison Home Select Home
Protection Company Warranty Company
(Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents ($2,481) - $1,042
Receivables - net 105,224 - 19,426
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 17,902 - (13,630)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 120,645 - 6,838
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 19,691 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 278,212 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 297,903
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 622 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 622 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $419,170 - $6,838
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
124
Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Security Valley Burglar & Consolidating
Corp. Fire Alarm Co., Adjustments
Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents ($1,258) $299 -
Receivables - net 2,522 10,590 ($11,157)
Fuel inventory - - -
Materials and supplies, at average cost 2,587 539 -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (3,846) 718 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 5 12,146 (11,157)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 15,716 963 -
Nuclear decommissioning trusts - - (278,212)
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 15,716 963 (278,212)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 328,021 8,787 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 328,021 8,787 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $343,742 $21,896 ($289,369)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
125
Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Select
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents ($2,398) - -
Receivables - net 126,605 - -
Fuel inventory - - -
Materials and supplies, at average cost 3,126 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 1,144 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 128,477 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 36,370 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 36,370
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 337,430 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 337,430 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $502,277 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
126
Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Select Edison Home Select Home
Protection Company Warranty Company
(Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt $33,444 - $5,791
Accounts payable 32 - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities 6,506 - 629
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 39,982 - 6,420
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 5,497 - 82
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
Credits - - -
Other long-term liabilities 1,181 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 6,678 - 82
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 300
Additional Paid-in Capital 373,970 - 1,944
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (1,460) - (1,908)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 372,510 - 336
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $419,170 - $6,838
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
127
Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Security Valley Burglar & Consolidating
Corp. Fire Alarm Co., Adjustments
Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable $92,890 ($11) ($11,111)
Accrued taxes 1,254 30 -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities 22,758 825 (46)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 116,902 844 (11,157)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
Credits - - -
Other long-term liabilities 9,333 321 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 9,333 321 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 10 - (310)
Additional Paid-in Capital 256,412 19,546 (277,902)
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (38,915) 1,185 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 217,507 20,731 (278,212)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $343,742 $21,896 ($289,369)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
128
Edison Select and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Select
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable $121,003 - -
Accrued taxes 1,316 - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities 30,672 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 152,991 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 5,579 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
Credits - - -
Other long-term liabilities 10,835 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 16,414 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional Paid-in Capital 373,970 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (41,098) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 332,872 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $502,277 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
129
Edison Select and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Select Edison Home Select Home
Protection Company Warranty Company
(Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $5,289 - $1,675
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 5,289 - 1,675
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 13,115 - 2,152
Depreciation, decommissioning and
amortization 2,069 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 15,184 - 2,152
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (9,895) - (477)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net 3,491 - (12)
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 3,491 - (12)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (13,386) - (465)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (5,343) - (181)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (8,043) (284)
Retained earnings - beginning of year (8,254) - (1,624)
Dividends declared on common stock/other 14,837 - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,460) - ($1,908)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
130
Edison Select and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Security Valley Burglar & Consolidating
Corp. Fire Alarm Co., Adjustments
Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $101,356 $6,842 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 101,356 6,842 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 111,018 4,790 -
Depreciation, decommissioning and
Amortization 21,235 1,406 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 132,253 6,196 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (30,897) 646 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net (1,488) - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges (1,488) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (29,409) 646 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (11,469) 252 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (17,940) 394
Retained earnings - beginning of year (145) 421 (5,623)
Dividends declared on common stock/other (20,830) 370 5,623
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($38,915) $1,185 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
131
Edison Select and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Select
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $115,162 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 115,162 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 131,075 - -
Depreciation, decommissioning and
Amortization 24,710 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 155,785 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (40,623) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net 1,991 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 1,991 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (42,614) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (16,741) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (25,873)
Retained earnings - beginning of year (15,225) - -
Dividends declared on common stock/other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($41,098) - -
============================================================= ==================== ==================== ====================
</TABLE>
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Burlington Edison Capital Edison Capital
Apartments, Inc. Europe Limited Ventures
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $4,367 $228 -
Receivables - net 44 83 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net (13) (86) $84
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 4,398 225 84
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 324 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 324
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $4,398 $549 $84
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
133
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Funding Edison Mortgage Mission Bartlett
Company Company Hill Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $50,157 - -
Receivables - net 150,408 $993 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 109,547 (59) -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 241 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 310,353 934 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 4,495 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 555,418 - -
Investments in leveraged leases 1,884,603 - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,444,516
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 20,412 4,193 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 20,412 4,193 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,775,281 $5,127 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
134
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Renewable Energy Edison Capital
International Capital Company
Capital, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - $2
Receivables - net $4 $315 5,857
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net (1) 10 533
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 3,723
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 3 325 10,115
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 1,320
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 21,282
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 22,602
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 5,380
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 5,380
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $3 $325 $38,097
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
135
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Capital
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $54,754 -
Receivables - net ($90,126) 67,578 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - 110,015 -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 3,964 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (90,126) 236,311 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1 6,140 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (21,282) 555,418 -
Investments in leveraged leases - 1,884,603 -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (21,281) 2,446,161
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges (1) 29,984 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (1) 29,984 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($111,408) $2,712,456 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
136
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Integrated Mission First
Housing Energy Services Asset Investment
Investments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $2,895 - -
Receivables - net 660,554 $23 $19,768
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 65,410 (1) 1
Regulatory balancing accounts - net - - -
Prepayments and other current assets 228 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 729,087 22 19,769
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,356 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 345,155 - -
Investments in leveraged leases 160 - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 346,671 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 17,963 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 17,963 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,093,721 $22 $19,769
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
137
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Funding Mission Funding Mission Funding
Beta Epsilon Gamma
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $29 $59,521
Receivables - net $134,086 443,958 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 4,996 6,033 1,115
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 13 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 139,082 450,033 60,636
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 101,042 -
Investments in leveraged leases 533,631 991,026 247,558
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 533,631 1,092,068 247,558
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 3 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 3 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $672,713 $1,542,104 $308,194
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
138
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Funding Mission Funding Mission Iowa Wind
Kappa Zeta Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $5,099 $50,194 $13,762
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 644 (478) 1,895
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 5,743 49,716 15,657
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 33,463 88,422
Investments in leveraged leases 112,227 - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 112,227 33,463 88,422
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
Reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $117,970 $83,179 $104,079
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
139
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Funding Edison Funding
Omicron Inc. [7] Olive Court [8]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $7,651 $117 -
Receivables - net 232 57 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 30,589 9 -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 38,472 183 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 3,139 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 3,139
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
Reacquisition expense - - -
Other deferred charges - 204 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 204 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $38,472 $3,526 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
140
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Funding Consolidating Edison Funding
Company Adjustments Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $39,464 $1 $50,157
Receivables - net 166,936 (1,403,782) 150,408
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net (667) 1 109,547
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 241
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 205,733 (1,403,780) 310,353
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 4,495
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 2,127,144 (2,139,808) 555,418
Investments in leveraged leases - 1 1,884,603
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,127,144 (2,139,807) 2,444,516
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 2,241 1 20,412
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2,241 1 20,412
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,335,118 ($3,543,586) $2,775,281
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
141
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
East Coast EC Asset Services, EC Properties, Inc.
Capital, Inc. Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $5 $32 -
Receivables - net 615 744 $292
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net (69) 16 196
Regulatory balancing accounts - net - - -
Prepayments and other current assets 7 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 558 792 488
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 31 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 31
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $589 $792 $488
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
142
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EC Properties III, EC-SLP, Inc. ECHI-A Company
Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $3 $23 -
Receivables - net 22 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 5 (6) -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 30 17 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
Reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $30 $17 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
143
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
ECHI-B Company ECHI Wyvernwood, Edison Capital
Inc. Affordable Housing
97 V
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
144
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital Edison Capital
Affordable Housing Affordable Housing Affordable Housing
97 VI 97 VII 97 VIII
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
145
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital Edison Capital
Affordable Housing Affordable Housing Housing Delaware
99A Company 99B Company Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - $5
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - 5
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 11
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 11
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - $16
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
146
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital John Stewart
Housing Florida Housing Management Company [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - $2,755
Receivables - net $3 $128 851
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net (1) (132) 2,008
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 221
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 2 (4) 5,835
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 1,325
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 1,201 145
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,201 1,470
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 1,958 5,872
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 1,958 5,872
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2 $3,155 $13,177
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
147
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital Edison Capital
Housing New Jersey Housing New York Housing
Pennsylvania
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $1,644 $3,503 $2,320
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 1,312 1 893
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 2,956 3,504 3,213
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 8,402 - 8,043
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 8,402 8,043
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $11,358 $3,504 $11,256
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
148
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Housing Edison Housing Edison Housing
North Carolina Oregon, Inc. South Carolina
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $3,102 $3 $2,122
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net (454) (1) (33)
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 2,648 2 2,089
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 392 - 409
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 392 - 409
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $3,040 $2 $2,498
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
149
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EHI Development EHI Development MHICAL 94 Company
Company Fund
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $1,193 $8,730 $30,971
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 4 (337) 3,971
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,197 8,393 34,942
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 13,147
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - - 13,147
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - 453
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 5,532 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 5,532 453
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,197 $13,925 $48,542
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
150
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MHICAL 95 Company MHICAL 96 Company MHICAL 97 Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $37,197 $27,154 $6,272
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 6,547 3,332 2,493
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 43,744 30,486 8,765
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 21,010 11,731 3,274
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 21,010 11,731 3,274
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $64,754 $42,217 $12,039
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
151
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MHIFED 94 Company MHIFED 95 Company MHIFED 96 Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $27,002 $20,618 $7,595
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net (344) (2,106) (308)
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 26,658 18,512 7,287
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 1 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $26,659 $18,512 $7,287
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
152
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MHIFED 96A Company MHIFED 97 Company Mission Housing
Alpha
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $15,603 $2 $4,351
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net (396) (2) 20
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 15,207 - 4,371
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 166
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 166
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 44
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 44
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $15,207 - $4,581
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
153
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Housing Mission Housing Mission Housing
Beta Delta Denver
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $5,382 $14,004 $6,209
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 506 1,526 1,144
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 5,888 15,530 7,353
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 2,114 1,241 4,803
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,114 1,241 4,803
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $8,002 $16,771 $12,156
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
154
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Housing Mission Housing Mission Housing
Epsilon Gamma Holdings
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $866 $4,019 $10,547
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 142 316 2,732
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,008 4,335 13,279
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 579 1,653 12,932
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 579 1,653 12,932
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,587 $5,988 $26,211
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
155
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Housing Mission Funding Mission Housing
Theta Theta [6] Zeta
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $1,598 $11 $6,842
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 198 3 873
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,796 14 7,715
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 494 25 8,121
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 494 25 8,121
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 43 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 43 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,333 $39 $15,836
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
156
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission SA Company Edison Housing Edison Capital
Consolidation Co. Housing Investments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - $78
Receivables - net $40 $486 485,492
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net (37) (49) 41,439
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 3 437 527,009
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 14,587 492,830
Investments in leveraged leases - - 160
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 14,587 492,990
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 9,310
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 9,310
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $3 $15,024 $1,029,309
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
157
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Capital
Adjustments Housing
Investments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents ($1) $2,895 -
Receivables - net (76,979) 660,554 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 3 65,410 -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 228 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (76,977) 729,087 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 1,356 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 345,155 -
Investments in leveraged leases - 160 -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (262,156) 346,671
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
Reacquisition expense - - -
Other deferred charges (5,249) 17,963 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (5,249) 17,963 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($344,382) $1,093,721 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
158
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital LAI Edison Capital
(Bermuda) (Bermuda) Ltd. [6] Latin American
Investments, Ltd. Investments
55 (Bermuda), Ltd. [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $2 - -
Receivables - net 1,224 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 174 - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,400 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 7,846 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 7,846
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $9,246 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
159
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital Edison Capital
International Latin American (Netherlands)
(Bermuda) Ltd. Investments Holdings Company
Holding Company B.V. 110
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $5 - $6
Receivables - net 821 $16,437 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net (71) (1,374) 5
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 755 15,063 11
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 17,619 58,178 693
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 17,619 58,178 693
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $18,374 $73,241 $704
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
160
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Mission Funding Mission Funding Mu
(Netherlands) Alpha [6]
Investments B.V.
[6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $11 - -
Receivables - net - $364,239 $11,707
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 3 5,584 367
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 14 369,823 12,074
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 7,623 - -
Investments in leveraged leases - 654,291 21,648
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 7,623 654,291 21,648
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $7,637 $1,024,114 $33,722
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
161
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Funding Mission Funding Nu Mission
Delta [6] Investments, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - $4
Receivables - net $25,069 $24,777 5,426
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 114 526 (326)
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 25,183 25,303 5,104
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - 51,683 -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 51,683
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $25,183 $76,986 $5,104
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
162
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission (Bermuda) Mission Funding Consolidating
Investments, Ltd. Epsilon Adjustments
28
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $1 - -
Receivables - net 5,009 $302,322 ($313,073)
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 2 1,031 (2)
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 13 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 5,012 303,366 (313,075)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 334,251 (325,168)
Investments in leveraged leases - 263,404 -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 597,655 (325,168)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 3 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 3 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,012 $901,024 ($638,243)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
163
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Funding
Epsilon
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $29 - -
Receivables - net 443,958 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 6,033 - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 13 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 450,033 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 101,042 - -
Investments in leveraged leases 991,026 - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,092,068
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 3 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 3 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,542,104 - -
============================================================= ==================== ==================== ====================
</TABLE>
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Burlington Edison Capital Edison Capital
Apartments, Inc. Europe Limited Ventures
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $308 $202
Current portion of long-term debt - - -
Accounts payable $4,360 - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - 221 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4,360 529 202
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (30) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (30) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (56) -
Unrealized gain in equity securities-net - -
Retained earnings 38 106 (118)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 38 50 (118)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $4,398 $549 $84
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
165
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Funding Edison Mortgage Mission Bartlett
Company Company Hill Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $159,912 $4,573 -
Current portion of long-term debt 285,659 - -
Accounts payable 1,505 - -
Accrued taxes - - -
Accrued interest 3,477 - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities 8,866 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 459,419 4,573 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 224,091 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,353,707 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 92,946 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 1,446,653 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 407 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 127,166 - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (2) - -
Unrealized gain in equity securities-net -
Retained earnings 517,547 554 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 644,711 554 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,775,281 $5,127 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
166
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Renewable Energy Edison Capital
International Capital Company
Capital, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $14 $206 $79,472
Current portion of long-term debt - - -
Accounts payable - - 133
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - 16,127
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 14 206 95,732
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - (16,743)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
Credits - - -
Other long-term liabilities - - 46,652
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - 29,909
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
Securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 3 80,597
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (11) 116 (168,141)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (11) 119 (87,544)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $3 $325 $38,097
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
167
Edison Capital and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Capital
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt ($90,125) $154,562 -
Current portion of long-term debt - 285,659 -
Accounts payable - 5,998 -
Accrued taxes - - -
Accrued interest - 3,477 -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - 25,214 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (90,125) 474,910 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 224,091 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1) 1,336,933 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities (1) 139,597 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (2) 1,476,530 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 407 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (127,169) 80,597 -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (1) (59) -
Unrealized gain in equity securities-net - -
Retained earnings 105,889 455,980 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (21,281) 536,518 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($111,408) $2,712,456 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
168
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Integrated Mission First
Housing Energy Services Asset Investment
Investments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $2,147 $34 -
Current portion of long-term debt 111,127 -
Accounts payable 680 - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities 7,275 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 121,229 34 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 985 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 25,974 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 48,621 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 74,595 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 227 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 608,734 - $19,764
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 287,951 (12) 5
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 896,685 (12) 19,769
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,093,721 $22 $19,769
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
169
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Funding Mission Funding Mission Funding
Beta Epsilon Gamma
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $58 $104,627 $1,059
Current portion of long-term debt - - -
Accounts payable 228 331 208
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - 67 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 286 105,025 1,267
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 367,235 755,862 153,253
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 466 16,697 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 367,701 772,559 153,253
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 254,949 561,588 125,300
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (2) -
Unrealized gain in equity securities-net - - -
Retained earnings 49,777 102,934 28,374
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 304,726 664,520 153,674
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $672,713 $1,542,104 $308,194
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
170
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Funding Mission Funding Mission Iowa Wind
Kappa Zeta Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $27 $1,449 $478
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 27 1,449 478
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 2,108 30,101 11,139
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 2,108 30,101 11,139
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 115,508 40,365 92,500
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 327 11,264 (38)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 115,835 51,629 92,462
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $117,970 $83,179 $104,079
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
171
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Funding Edison Funding
Omicron Inc. [7] Olive Court [8]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $11 $13 -
Current portion of long-term debt 9,469 - -
Accounts payable - 58 -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - 351 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 9,480 422 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 3,106 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 16,032 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 16,032 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 180 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 12,674 - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 106 (2) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 12,780 (2) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $38,472 $3,526 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
172
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Funding Consolidating Edison Funding
Company Adjustments Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $1,453,792 ($1,403,783) $159,912
Current portion of long-term debt 165,062 1 285,659
Accounts payable - - 1,505
Accrued taxes - - -
Accrued interest 3,477 - 3,477
Dividends payable - - -
Deferred unbilled revenue and other
Current liabilities 1,172 1 8,866
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,623,503 (1,403,781) 459,419
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 220,000 - 224,091
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (7,996) (1) 1,353,707
Accumulated deferred investment
Tax credits - - -
Customer advances and other deferred
Credits - - -
Other long-term liabilities 27,162 - 92,946
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 19,166 (1) 1,446,653
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - 407
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
Securities of subsidiaries holding
Solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 447,499 (2,151,715) 127,166
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - (2)
Unrealized gain in equity securities-net - -
Retained earnings 24,950 11,911 517,547
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 472,449 (2,139,804) 644,711
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,335,118 ($3,543,586) $2,775,281
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
173
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
East Coast EC Asset Services, EC Properties, Inc.
Capital, Inc. Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $236 $278 $15
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 236 278 15
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 242 58 31
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 111 456 442
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 353 514 473
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $589 $792 $488
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
174
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EC Properties III, EC-SLP, Inc. ECHI-A Company
Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $4 $14 -
Current portion of long-term debt - 17 -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4 31 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 2 - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings 24 (14) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 26 (14) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $30 $17 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
175
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
ECHI-B Company ECHI Wyvernwood, Edison Capital
Inc. Affordable Housing
97 V
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
176
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital Edison Capital
Affordable Housing Affordable Housing Affordable Housing
97 VI 97 VII 97 VIII
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
177
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital Edison Capital
Affordable Housing Affordable Housing Housing Delaware
99A Company 99B Company Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - $5
Current portion of long-term debt - - 12
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - - 17
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 2
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - - (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - - (1)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - $16
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
178
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital John Stewart
Housing Florida Housing Management Company [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $11 $76 $1,172
Current portion of long-term debt - - -
Accounts payable - - 304
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - 809
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities $11 76 2,285
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - 6,418
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (269) 2,133
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (269) 2,133
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - 227
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 3,772 1,201
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (9) (424) 913
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (9) 3,348 2,114
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2 $3,155 $13,177
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
179
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital Edison Capital
Housing New Jersey Housing New York Housing
Pennsylvania
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $12 $22 $157
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 12 22 157
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (9) - 296
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
Credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (9) - 296
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 9,248 3,500 9,325
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 2,107 (18) 1,478
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 11,355 3,482 10,803
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $11,358 $3,504 $11,256
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
180
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Housing Edison Housing Edison Housing
North Carolina Oregon, Inc. South Carolina
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $11 $10 $10
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 11 10 10
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 187 - 181
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 187 - 181
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 2,145 - 2,066
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 697 (8) 241
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,842 (8) 2,307
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $3,040 $2 $2,498
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
181
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EHI Development EHI Development MHICAL 94 Company
Company Fund
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $104 $9,077 $223
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - 283 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 104 9,360 223
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (1,304) (16)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 69 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (1,235) (16)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1,002 5,000 30,581
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 91 800 17,754
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,093 5,800 48,335
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,197 $13,925 $48,542
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
182
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MHICAL 95 Company MHICAL 96 Company MHICAL 97 Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $13 $13 $10
Current portion of long-term debt - - 93
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - 167 151
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 13 180 254
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 2 1,310 1,519
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 2 1,310 1,519
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 44,132 25,926 3,906
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings 20,607 14,801 6,360
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 64,739 40,727 10,266
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $64,754 $42,217 $12,039
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
183
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MHIFED 94 Company MHIFED 95 Company MHIFED 96 Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $9 $2,051 $6,126
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities 42 95 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 51 2,146 6,126
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 309 2,151 89
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 140 245 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 449 2,396 89
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 20,040 8,662 1,127
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings 6,119 5,308 (55)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 26,159 13,970 (1,072)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $26,659 $18,512 $7,287
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
184
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MHIFED 96A Company MHIFED 97 Company Mission Housing
Alpha
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $5 $6 $37
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 5 6 37
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 128 - 1,180
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 128 - 1,180
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 13,766 - 3,264
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings 1,308 (6) 100
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 15,074 (6) 3,364
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $15,207 - $4,581
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
185
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Housing Mission Housing Mission Housing
Beta Delta Denver
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $27 $27 $14
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 27 27 14
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2) (96) (5)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (2) (96) (5)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 4,459 10,110 7,925
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 3,518 6,730 4,222
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 7,977 16,840 12,147
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $8,002 $16,771 $12,156
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
186
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Housing Mission Housing Mission Housing
Epsilon Gamma Holdings
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $27 $27 $14
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities 13 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 40 27 $14
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (34) 9 (173)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (34) 9 (173)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1,161 3,340 17,570
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 420 2,612 8,800
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,581 5,952 26,370
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,587 $5,988 $26,211
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
187
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Housing Mission Funding Mission Housing
Theta Theta [6] Zeta
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $48 $29 $28
Current portion of long-term debt 132 - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 180 29 28
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 10 - (4)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 10 - (4)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1,207 26 12,754
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 936 (16) 3,058
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,143 10 15,812
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,333 $39 $15,836
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
188
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission SA Company Edison Housing Edison Capital
Consolidation Co. Housing Investments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $14 $12 $58,964
Current portion of long-term debt - - 110,873
Accounts payable - - 375
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - 5,716
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 14 12 175,928
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 40 - 18,343
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - 48,166
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 40 - 66,509
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 54 14,578 610,196
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (105) 434 176,676
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (51) 15,012 786,872
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $3 $15,024 $1,029,309
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
189
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Capital
Adjustments Housing
Investments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt ($76,791) $2,147 -
Current portion of long-term debt - 111,127 -
Accounts payable 1 680 -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities (1) 7,275 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (76,791) 121,229 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (5,433) 985 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1) 25,974 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 1 48,621 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 74,595 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 227 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (263,644) 608,734 -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 1,486 287,951 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (262,158) 896,685 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($344,382) $1,093,721 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
190
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital LAI Edison Capital
(Bermuda) (Bermuda) Ltd. [6] Latin American
Investments, Ltd. Investments
(Bermuda), Ltd. [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $1,400 - -
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,400 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 6,502 - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 1,344 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 7,846 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $9,246 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
191
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital Edison Capital
International Latin American (Netherlands)
(Bermuda) Ltd. Investments Holdings Company
Holding Company B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $1,224 $8 $20
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
Current liabilities - 22 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,224 30 20
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
Credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 16,231 73,849 693
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings 919 (638) (9)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 17,150 73,211 684
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $18,374 $73,241 $704
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
192
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Mission Funding Mission Funding Mu
(Netherlands) Alpha [6]
Investments B.V.
[6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $33 $295,917 $17
Current portion of long-term debt - - -
Accounts payable - 309 -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 33 296,226 17
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (1) 479,585 11,342
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities (6,920) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (6,919) 479,585 11,342
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 693 198,968 14,750
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (2) - -
Unrealized gain in equity securities-net - - -
Retained earnings (6) 49,335 7,613
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 685 248,303 22,363
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $7,637 $1,024,114 $33,722
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
193
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Funding Mission Funding Nu Mission
Delta [6] Investments, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $5,175 $17 $5,370
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 5,175 17 5,370
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (4) 29,361 (977)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (4) 29,361 (977)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 13,880 33,188 43
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings 6,132 14,420 668
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 20,012 47,608 711
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $25,183 $76,986 $5,104
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
194
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission (Bermuda) Mission Funding Consolidating
Investments, Ltd. Epsilon Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $3,892 $104,626 ($313,072)
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - 67 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 3,892 104,693 (313,072)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (264) 236,820 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 9,777 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (264) 246,597 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1,170 526,788 (325,167)
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings 214 22,946 (4)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,384 549,734 (325,171)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,012 $901,024 ($638,243)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
195
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Funding
Epsilon
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $104,627 - -
Current portion of long-term debt - - -
Accounts payable 331 - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
Current liabilities 67 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 105,025 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 755,862 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
Credits - - -
Other long-term liabilities 16,697 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 772,559 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 561,588 - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (2) - -
Unrealized gain in equity securities-net - - -
Retained earnings 102,934 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 664,520 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,542,104 - -
============================================================= ==================== ==================== ====================
</TABLE>
Edison Capital and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Burlington Edison Capital Edison Capital
Apartments, Inc. Europe Limited Ventures
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $1,605 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,605 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 555 $1,515 $199
Depreciation, decommissioning and
amortization 309 79 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 864 1,594 199
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 741 (1,594) -
Interest and dividend income 50 12 -
Other nonoperating income (deductions)-net 26 1,663 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 76 1,675 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 817 81 (199)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 852 - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 852 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest 3 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (32) 81 (199)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (154) 3 (83)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 122 78 (116)
Retained earnings - beginning of year (84) 28 (2)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $38 $106 ($118)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
197
Edison Capital and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Funding Edison Mortgage Mission Bartlett
Company Company Hill Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $280,875 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 280,875 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. Adj. clauses - net - - -
Other operation and maintenance 51,819 $3 -
Depreciation, decommissioning and
Amortization 19,855 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 71,674 3 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 209,201 (3) -
Interest and dividend income 3,315 374 -
Other nonoperating income (deductions)-net (20,779) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (17,464) 374 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 191,737 371 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 7,857 - -
Other interest expense - net 31,737 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 39,594 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 152,143 371 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (18,469) 150 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 170,612 221
Retained earnings - beginning of year 346,935 333 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $517,547 $554 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
198
Edison Capital and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Renewable Energy Edison Capital
International Capital Company
Capital, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $3 - $38,697
Depreciation, decommissioning and
Amortization - - 2,227
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 - 40,924
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (3) - (40,924)
Interest and dividend income - $381 -
Other nonoperating income (deductions)-net - - (6,864)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 381 (6,864)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (3) 381 (47,788)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - 125
Other interest expense - net - 406 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 406 125
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (3) (25) (47,913)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (10) (6,377)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (3) (15) (41,536)
Retained earnings - beginning of year (8) 131 (126,605)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($11) $116 ($168,141)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
199
Edison Capital and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Capital
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - $282,480 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 282,480 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance ($1,665) 91,126 -
Depreciation, decommissioning and
amortization - 22,470 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (1,665) 113,596 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 1,665 168,884 -
Interest and dividend income (381) 3,751 -
Other nonoperating income (deductions)-net (1,662) (27,616) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (2043) (23,865) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (378) 145,019 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 8,834 -
Other interest expense - net (381) 31,762 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges (381) 40,596 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - 3 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 3 104,426 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (24,940) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 3 129,366
Retained earnings - beginning of year 105,886 326,614 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $105,889 $455,980 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
200
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Integrated Mission First
Housing Energy Services Asset Investment
Investments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $61,737 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 61,737 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 38,052 $3 $3
Depreciation, decommissioning and
amortization 18,259 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 56,311 3 3
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 5,426 (3) (3)
Interest and dividend income 518 - -
Other nonoperating income (deductions)-net (25,983) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (25,465) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (20,039) (3) (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 7,837 - -
Other interest expense - net (6,433) - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 1,404 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (21,443) (3) (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (85,224) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 63,781 (3) (3)
Retained earnings - beginning of year 224,170 (9) 8
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $287,951 ($12) $5
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
201
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Funding Mission Funding Mission Funding
Beta Epsilon Gamma
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $76,285 $97,901 $43,206
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 76,285 97,901 43,206
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 3 63 3
Depreciation, decommissioning and
Amortization - 11 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 74 3
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 76,282 97,827 43,203
Interest and dividend income - 1,002 -
Other nonoperating income (deductions)-net - 382 1,126
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 1,385 1,126
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 76,282 99,211 44,329
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - 1 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 1 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 76,282 99,210 44,329
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 30,544 38,369 17,907
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 45,738 60,841 26,422
Retained earnings - beginning of year 4,039 42,093 1,952
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $49,777 $102,934 $28,374
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
202
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Funding Mission Funding Mission Iowa Wind
Kappa Zeta Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $601 $1,088 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 601 1,088 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 3 3 $3
Depreciation, decommissioning and
Amortization - 886 140
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 889 143
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 598 199 (143)
Interest and dividend income - - -
Other nonoperating income (deductions)-net - 426 (4,242)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 426 (4,242)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 598 625 (4,385)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 598 625 (4,385)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 244 (520) (4,347)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 354 1,145 (38)
Retained earnings - beginning of year (27) 10,119 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $327 $11,264 ($38)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
203
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Funding Edison Funding
Omicron Inc. Olive Court
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $54 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 54 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 58 $3 -
Depreciation, decommissioning and
Amortization 11 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 69 3 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (15) (3) -
Interest and dividend income 197 - -
Other nonoperating income (deductions)-net 1 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 198 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 183 (3) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 20 - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 20 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest 12 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 175 (3) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 66 (1) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 109 (2) -
Retained earnings - beginning of year (3) - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $106 ($2) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
204
Edison Capital and Subsidiaries [Tier 4]
Edison Funding Company Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Funding Consolidating Edison Funding
Company Adjustments Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other ($9) $12 $280,875
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (9) 12 280,875
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 13,625 (3) 51,819
Depreciation, decommissioning and
Amortization 549 (1) 19,855
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 14,174 (4) 71,674
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (14,183) 16 209,201
Interest and dividend income 1,597 1 3,315
Other nonoperating income (deductions)-net 7,511 - (20,779)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 9,108 1 (17,464)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (5,075) 17 191,737
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - 7,857
Other interest expense - net 38,169 - 31,737
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 38,169 - 39,594
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - (12) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (43,244) 5 152,143
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (15,506) (1) (18,469)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (27,738) 6 170,612
Retained earnings - beginning of year 52,688 11,905 346,935
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $24,950 $11,911 $517,547
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
205
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
East Coast EC Asset Services, EC Properties, Inc.
Capital, Inc. Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $2 $1 -
Depreciation, decommissioning and
Amortization 11 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 13 1 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (13) (1) -
Interest and dividend income - - -
Other nonoperating income (deductions)-net (302) 197 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (302) 197 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (315) 196 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (315) 196 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (192) 51 ($169)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (123) 145 169
Retained earnings - beginning of year 234 311 273
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $111 $456 $442
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
206
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EC Properties III, EC-SLP, Inc. ECHI-A Company
Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
Amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - $2 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 2 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 2 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - 2 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes ($22) 6 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 22 (4)
Retained earnings - beginning of year 2 (10) -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $24 ($14) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
207
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
ECHI-B Company ECHI Wyvernwood, Edison Capital
Inc. Affordable Housing
97 V
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income
Retained earnings - beginning of year - - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
208
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital Edison Capital
Affordable Housing Affordable Housing Affordable Housing
97 VI 97 VII 97 VIII
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income
Retained earnings - beginning of year - - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
209
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital Edison Capital
Affordable Housing Affordable Housing Housing Delaware
99A Company 99B Company Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - ($1)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - (1)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - 3
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - 3
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - (4)
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - (4)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - (4)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1)
Retained earnings - beginning of year - - (2)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - - ($3)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
210
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital John Stewart
Housing Florida Housing Management Company [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - $5,742
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - 5,742
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $3 $3 7,151
Depreciation, decommissioning and
Amortization - 264 225
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 267 7,376
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (3) (267) (1,634)
Interest and dividend income - - 60
Other nonoperating income (deductions)-net - - 2,340
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - 2,400
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (3) (267) 766
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - 7
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - 7
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (3) (267) 759
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (103) (7)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (3) (164) 766
Retained earnings - beginning of year (6) (260) 147
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9) ($424) $913
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
211
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital Edison Housing
Housing New Jersey Housing New York Pennsylvania
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other ($449) - ($498)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (449) - (498)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 3 $3 3
Depreciation, decommissioning and
Amortization 424 - 338
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 427 3 341
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (876) (3) (839)
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (876) (3) (839)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (876) (3) (839)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (1,528) - (1,806)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 652 (3) 967
Retained earnings - beginning of year 1,455 (15) 511
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $2,107 ($18) $1,478
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
212
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Housing Edison Housing Edison Housing
North Carolina Oregon, Inc. South Carolina
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other ($16) - ($16)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (16) - (16)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 3 $3 3
Depreciation, decommissioning and
amortization 14 - 15
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 17 3 18
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (33) (3) (34)
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (33) (3) (34)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (33) (3) (34)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (81) - (57)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 48 (3) 23
Retained earnings - beginning of year 649 (5) 218
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $697 ($8) $241
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
213
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EHI Development EHI Development MHICAL 94 Company
Company Fund
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - ($1,767)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - (1,767)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $3 $3 3
Depreciation, decommissioning and
Amortization - - 992
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 3 995
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (3) (3) (2,762)
Interest and dividend income - 502 33
Other nonoperating income (deductions)-net 30 27 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 30 529 33
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 27 526 (2,729)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 27 526 (2,729)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 14 390 (7,262)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 13 136 4,533
Retained earnings - beginning of year 78 664 13,221
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $91 $800 $17,754
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
214
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MHICAL 95 Company MHICAL 96 Company MHICAL 97 Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other ($2,467) ($925) $346
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (2,467) (925) 346
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 3 3 4
Depreciation, decommissioning and
amortization 1,752 1,064 223
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,755 1,067 227
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (4,222) (1,992) 119
Interest and dividend income - - -
Other nonoperating income (deductions)-net 117 3,458 2,964
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 117 3,458 2,964
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (4,105) 1,466 3,083
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (4,105) 1,466 3,083
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (11,750) (2,462) (740)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 7,645 3,928 3,823
Retained earnings - beginning of year 12,962 10,873 2,537
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $20,607 $14,801 $6,360
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
215
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MHIFED 94 Company MHIFED 95 Company MHIFED 96 Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes ($23) $109 $8
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 23 (109) (8)
Retained earnings - beginning of year 6,096 5,417 (47)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $6,119 $5,308 ($55)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
216
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MHIFED 96A Company MHIFED 97 Company Mission Housing
Alpha
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - $191
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - 191
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - 3
Depreciation, decommissioning and
amortization - - 23
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - 26
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - 165
Interest and dividend income - - -
Other nonoperating income (deductions)-net $331 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 331 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 331 - 165
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 331 - 165
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 138 $1 (45)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 193 (1) 210
Retained earnings - beginning of year 1,115 (5) (110)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,308 ($6) $100
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
217
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Housing Mission Housing Mission Housing
Beta Delta Denver
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other ($192) ($1,333) ($597)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (192) (1,333) (597)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 3 3 3
Depreciation, decommissioning and
Amortization 151 229 252
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 154 232 255
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (346) (1,565) (852)
Interest and dividend income - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (346) (1,565) (852)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (346) (1,565) (852)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (1,059) (2,585) (2,008)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 713 1,020 1,156
Retained earnings - beginning of year 2,805 5,710 3,066
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $3,518 $6,730 $4,222
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
218
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Housing Mission Housing Mission Housing
Epsilon Gamma Holdings
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other ($46) ($197) ($1,000)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (46) (197) (1,000)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 3 3 3
Depreciation, decommissioning and
Amortization 30 105 769
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 33 108 772
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (79) (305) (1,772)
Interest and dividend income - - -
Other nonoperating income (deductions)-net 243 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 243 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 164 (305) (1,772)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 164 (305) (1,772)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (179) (764) (4,910)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 343 459 3,138
Retained earnings - beginning of year 77 2,153 5,662
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $420 $2,612 $8,800
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
219
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Housing Mission Funding Mission Housing
Theta Theta [6] Zeta
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other ($62) ($1) ($749)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (62) (1) (749)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 3 - 3
Depreciation, decommissioning and
Amortization 63 3 150
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 66 3 153
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (128) (4) (902)
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (128) (4) (902)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (128) (4) (902)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (296) (3) (2,410)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 168 (1) 1,508
Retained earnings - beginning of year 768 (15) 1,550
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $936 ($16) $3,058
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
220
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission SA Company Edison Housing Edison Capital
Consolidation Co. Housing Investments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - ($2) ($18,918)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - (2) (18,918)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $3 3 18,760
Depreciation, decommissioning and
Amortization - 1 11,161
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 4 29,921
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (3) (6) (48,839)
Interest and dividend income - - 8
Other nonoperating income (deductions)-net - - 37,156
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - 37,164
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (3) (6) (11,675)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - 1,398
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - 1,398
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (3) (6) (13,073)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (149) (45,329)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (3) 143 32,256
Retained earnings - beginning of year (102) 291 144,420
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($105) $434 $176,676
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
221
Edison Capital and Subsidiaries [Tier 5]
Edison Capital Housing Investments Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Capital
Adjustments Housing
Investments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $84,694 $61,737 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 84,694 61,737 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 12,056 38,052 -
Depreciation, decommissioning and
Amortization 3 18,259 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 12,059 56,311 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 72,635 5,426 -
Interest and dividend income (85) 518 -
Other nonoperating income (deductions)-net (72,546) (25,983) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (72,631) (25,465) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 4 (20,039) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 6,432 7,837 -
Other interest expense - net (6,433) (6,433) -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges (1) 1,404 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 5 (21,443) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 1 (85,224) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 4 63,781
Retained earnings - beginning of year 1,482 224,170 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,486 $287,951 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
222
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital LAI Edison Capital
(Bermuda) (Bermuda) Ltd. [6] Latin American
Investments, Ltd. Investments
(Bermuda), Ltd. [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $12 - -
Depreciation, decommissioning and
Amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 12 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (12) - -
Interest and dividend income 2 - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 2 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (10) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (10) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (4) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (6)
Retained earnings - beginning of year 1,350 - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,344 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
223
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Edison Capital Edison Capital
International Latin American (Netherlands)
(Bermuda) Ltd. Investments Holdings Company
Holding Company B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $10 $2 $8
Depreciation, decommissioning and
Amortization - 11 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 10 13 8
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (10) (13) (8)
Interest and dividend income 510 490 -
Other nonoperating income (deductions)-net - 373 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 510 863 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 500 850 (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net 1 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 1 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 499 850 (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (83) 248 (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 582 602 (5)
Retained earnings - beginning of year 337 (1,240) (4)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $919 ($638) ($9)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
224
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Capital Mission Funding Mission Funding Mu
(Netherlands) Alpha [6]
Investments B.V.
[6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - $75,458 $1,745
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 75,458 1,745
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $3 3 3
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 3 3
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (3) 75,455 1,742
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (3) 75,455 1,742
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (3) 75,455 1,742
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (1) 30,024 514
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (2) 45,431 1,228
Retained earnings - beginning of year (4) 3,904 6,385
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($6) $49,335 $7,613
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
225
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Funding Mission Funding Nu Mission
Delta [6] Investments, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - $3,956 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 3,956 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $3 3 $6
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 3 3 6
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (3) 3,953 (6)
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - 5,382
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - 5,382
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (3) 3,953 5,376
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (3) 3,953 5,376
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (147) 1,175 7
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 144 2,778 5,369
Retained earnings - beginning of year 5,988 11,642 (4,701)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $6,132 $14,420 $668
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
226
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission (Bermuda) Mission Funding Consolidating
Investments, Ltd. Epsilon Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - $16,742 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 16,742 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $9 8,936 ($8,935)
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 9 8,936 (8,935)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (9) 7,806 8,935
Interest and dividend income 1 - (1)
Other nonoperating income (deductions)-net 3,560 - (8,933)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 3,561 - (8,934)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 3,552 7,806 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 3,552 7,806 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 212 6,428 (1)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 3,340 1,378 2
Retained earnings - beginning of year (3,126) 21,568 (6)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $214 $22,946 ($4)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
227
Edison Capital and Subsidiaries [Tier 5]
Mission Funding Epsilon Consolidated
Consolidating Statements of Income and Retained Earnings
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Funding
Epsilon
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $97,901 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 97,901 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 63 - -
Depreciation, decommissioning and
amortization 11 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 74 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 97,827 - -
Interest and dividend income 1,002 - -
Other nonoperating income (deductions)-net 382 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 1,385 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 99,211 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net 1 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 1 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 99,210 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 38,369 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 60,841
Retained earnings - beginning of year 42,093 - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $102,934 - -
============================================================= ==================== ==================== ====================
</TABLE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: 1st Time Homebuyer 1010 SVN Assoc LP 1028 Howard St Assoc LP
Opportunities LP
(Chester County Homes)
- ---------------------------------------- -------------------------- ---------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,358 $3,472 $184
Revenues $153 $219 $11
Net Income (Loss) ($4) ($180) ($9)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Mission Housing
Housing Investments Housing Partners IX LP Investors Partnership
</TABLE>
<PAGE>
229
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: 1101 Howard St Assoc LP 1475 167th Ave Assoc LP 16th & Church St Assoc LP
(Bermuda Gardens)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $53 $6,956 $2,238
Revenues $2 $197 $130
Net Income (Loss) ($2) ($290) ($136)
Ownership Interest(s): 99.00% by MHIFED 95 LP 99.90% by Edison Capital 99.00% by Edison Funding
Housing Partners XI LP Omicron Inc.
</TABLE>
<PAGE>
230
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: 1732 Champa LP (Buerger 18303 Kittridge Assoc-39 1856 Wells Court Partners
Brothers Lofts) LP (Kittridge) LP (Wells Court)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $6,263 $4,708 $4,657
Revenues $492 $271 $327
Net Income (Loss) $122 ($81) ($122)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Funding
Housing Investments Housing Investments Omicron Inc.
</TABLE>
<PAGE>
231
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: 210 Washington Ave Assoc 2400 Locust Assoc LP 2601 North Broad St Assoc
(Renaissance Plaza) (Locust on the Park) LP (Station House)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $5,016 $5,762 $60
Revenues $520 $6 $1
Net Income (Loss) ($487) ($166) $2
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Corporations
Housing Investments Housing Investments for Affordable Housing LP
II
</TABLE>
<PAGE>
232
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: 2814 Fifth St Assoc LP 381 Turk St LP 5363 Dent Ave Assoc LP
(Land Park Woods)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,776 $3 $7,781
Revenues $346 $2 $173
Net Income (Loss) ($203) - ($74)
Ownership Interest(s): 99.00% by Edison Capital 1.00% by John Stewart 99.00% by MH II LP
Housing Partners IX LP Company
0.50% by John Stewart
Company
</TABLE>
<PAGE>
233
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Abajo Del Sol LP Abby Assoc LP (Windmere) Admiralty Heights Assoc
II 1995 LP (Kent Manor)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - $5,008 $406
Revenues - $318 $17
Net Income (Loss) - ($76) ($56)
Ownership Interest(s): 99.9% by Edison Capital 99.00% by MHICAL 95 LP 99.00% by Edison Capital
Housing Investments Housing Partners VI LP
</TABLE>
<PAGE>
234
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: AE Assoc LP (Avenida Affordable/Citrus Glenn Agape Housing LP
Espana) Phase II, Ltd (Citrus
Glenn Apts Phase II)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $7,096 $549 $24,696
Revenues $528 $108 $40
Net Income (Loss) ($219) ($16) ($33)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Capital 99.00% by Edison Funding
Omicron Inc. Housing Partners VI LP Omicron Inc.
</TABLE>
<PAGE>
235
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Alhambra Apts LP Alma Place Assoc LP Altamont Hotel Assoc LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $16,026 $2,884 $1,327
Revenues $714 - $92
Net Income (Loss) ($244) - ($38)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners XIII LP Housing Partners IX LP Housing Partners VI LP
</TABLE>
<PAGE>
236
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: AMCAL Santa Barbara Fund Anglo Edison LLC No. 1 Anglo Edison Pinecrest LLC
XXXVI LP (Positano) (Las Brisas)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $823 $2,880 -
Revenues $104 $487 -
Net Income (Loss) ($56) ($193) -
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Funding 99.00% by Edison Capital
Housing Partners V LP Omicron Inc. Housing Investments
</TABLE>
<PAGE>
237
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Anglo Edison Ravenwood LLC Antelope Assoc LP Apollo Development Assoc
LP (Apollo Hotel)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $3,665 $4,967 $7,494
Revenues $425 $913 $311
Net Income (Loss) $61 ($162) ($48)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by MHICAL 95 LP 99.90% by Edison Capital
Omicron Inc. Housing Investments
</TABLE>
<PAGE>
238
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Arbor Lane Assoc Phase II Argyle Redevelop-ment Arroyo Vista Assoc LP
LP (Timberwood) Partnership LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $13 $15,402 $161
Revenues $1 $3,150 $14
Net Income (Loss) - ($346) ($6)
Ownership Interest(s): 99.00% by Corporations 99.00% by Edison Capital 99.00% by Corporations
for Affordable Housing LP Housing Investments for Affordable Housing LP
</TABLE>
<PAGE>
239
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Artloft Assoc LP Auburn Manor Apts LP Auburn Manor LLC
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $50 $2,427 -
Revenues $4 $116 -
Net Income (Loss) ($2) ($17) -
Ownership Interest(s): 35.60% by Corporations 99.00% by Edison Capital 50.00% by Edison Capital
for Affordable Housing LP Housing Partners XI LP Housing Investments
53.39% by Corporations
for Affordable Housing LP
II
</TABLE>
<PAGE>
240
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Avalon Courtyard LP B.A.I. Anglo Edison B.A.I. Edison Ravenwood
(Carson Senior Housing) Pinecrest, LLC (Pinecrest) LP (Ravenwood)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $7 - $4,234
Revenues $6 - $774
Net Income (Loss) ($3) - ($331)
Ownership Interest(s): 99.00% by MHIFED 95 LP 99.00% by Edison Capital 90.00% by Edison Capital
Housing Investments Housing Delaware, Inc.
</TABLE>
<PAGE>
241
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Baker Park Assoc LP Baldwin Village LP Barnsdall Court LP (Villa
(Watson Terrace) Mariposa)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $2,758 - -
Revenues $766 - -
Net Income (Loss) ($209) - -
Ownership Interest(s): 99.00% by MHICAL 95 LP 99.90% by Edison Capital 99.00% by Edison Capital
Housing Investments Housing Partners XI LP
</TABLE>
<PAGE>
242
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Bartlett Hill Assoc LP Beacon Manor Assoc LP Benton Green LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $5,782 $4,955 -
Revenues $436 $127 -
Net Income (Loss) ($429) ($220) -
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.90% by Edison Capital
Housing Investments Housing Partners X LP Housing Investments
</TABLE>
<PAGE>
243
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Berry Ave Assoc LP Bodega Hills Investors LP Borregas Court LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $93 $2,662 $10,671
Revenues $4 $26 $1,217
Net Income (Loss) ($2) ($22) $7
Ownership Interest(s): 99.00% by MHIFED 94 LP 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners V LP Housing Partners XI LP
</TABLE>
<PAGE>
244
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Boulder Creek Apartments Bouquet Canyon Seniors LP Bracher Assoc LP
LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $27,179 $23,336 $9,602
Revenues $778 $164 $438
Net Income (Loss) ($473) ($834) ($176)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by MHICAL 95 LP
Housing Partners X LP Housing Investments
</TABLE>
<PAGE>
245
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Bradley Manor Senior Apts Brantwood II Assoc LP Brookline Housing Assoc
LP LLC (Bridgewater)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,365 $2,701 $106
Revenues $63 $5 $4
Net Income (Loss) ($16) ($1) ($7)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Funding 99.00% by Corporations
Housing Partners VI LP Omicron Inc. for Affordable Housing LP
II
</TABLE>
<PAGE>
246
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Brooks School Assoc LP Bryn Mawr - Belle Shore Bryson Family Apts LP
LP (The)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $7,649 $2,738 -
Revenues $42 $754 -
Net Income (Loss) $22 ($564) -
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.90% by Edison Capital
Omicron Inc. Omicron Inc. Housing Partners XI LP
</TABLE>
<PAGE>
247
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Burlington Arboretum LP Burlington Senior Housing Bush Hotel LP
LLC
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - $3,245 $6,732
Revenues - $19 $601
Net Income (Loss) - ($21) ($165)
Ownership Interest(s): 94.66% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Funding
Housing Investments Housing Partners X LP Omicron Inc.
1.00% by Burlington Apts,
Inc.
</TABLE>
<PAGE>
248
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Caleb Affordable Housing California Park Apts LP Carlin LP (The)
Assoc LP
(Ledges/Pinebrook)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $85 $14,518 $154
Revenues $12 $404 $6
Net Income (Loss) ($3) ($96) ($15)
Ownership Interest(s): 99.00% by Corporations 99.00% by MH I LP 99.00% by Corporations
for Affordable Housing LP for Affordable Housing LP
</TABLE>
<PAGE>
249
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Carlton Way Apts LP Carson Housing LP (Carson Carson Terrace LP
Street)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $55 $10,786 -
Revenues $2 $110 -
Net Income (Loss) ($1) ($54) -
Ownership Interest(s): 99.00% by MHIFED 94 LP 99.00% by Edison Capital 99.90% by Edison Capital
Housing Partners XI LP Housing Investments
</TABLE>
<PAGE>
250
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Casa Rampart LP (Rampart C-Court LP (Cawelti Court) CCS/Bellingham LP
Apts) (Washington Grocery
Building)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $4,719 $1,140 $13,638
Revenues $132 $23 $260
Net Income (Loss) ($119) ($6) ($90)
Ownership Interest(s): 98.90% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners XI LP Housing Partners VII LP Housing Investments
</TABLE>
<PAGE>
251
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: CCS/Mount Vernon Housing CCS/Renton Housing LP CDR Senior Housing Assoc
LP (La Venture) (Renton) LP (Casa del Rio)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,490 $7,515 $154
Revenues $48 $54 $4
Net Income (Loss) ($58) ($57) ($2)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by MHIFED 94 LP
Housing Investments Housing Partners X LP
</TABLE>
<PAGE>
252
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Catalonia Assoc LP Cedarshores Limited Centennial Place LP
Dividend Housing
Association LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,774 $6,666 $6,623
Revenues - $444 $568
Net Income (Loss) - ($346) ($379)
Ownership Interest(s): 99.00% by Edison Capital 98.99% by Edison Capital 99.00% by MH V LP
Housing Partners VIII LP Housing Partners XII LP
0.01% by Mission Funding
Theta
</TABLE>
<PAGE>
253
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Centertown Assoc LP Centro Partners LP (El Cincinnati Ravenwood Apts
Centro) LP (Ravenwood)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $15,015 $8,254 $3,256
Revenues $415 $258 -
Net Income (Loss) ($183) ($224) $55
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.00% by Edison Capital
Omicron Inc. Omicron Inc. Housing Investments
0.95% by B.A.I. Edison
Ravenwood LP (Ravenwood)
</TABLE>
<PAGE>
254
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Chamber Apts LP (The Cochrane Village Apts LP Colina Vista LP
Chamber Bldg)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - $7,160 $5,344
Revenues - $11 $237
Net Income (Loss) - ($15) ($159)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Funding 99.00% by MHICAL 95 LP
Housing Partners XIII LP Omicron Inc.
</TABLE>
<PAGE>
255
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Community Invest-ment LP Conejo Valley Community Coolidge Station Apts LLC
(Oak Village Apts) Housing Assoc (Community
House Apts)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $5 $3,479 $5,842
Revenues $6 $74 $113
Net Income (Loss) - ($51) ($29)
Ownership Interest(s): 1.00% by John Stewart 99.00% by Edison Capital 99.00% by Edison Capital
Company Housing Investments Housing Partners X LP
</TABLE>
<PAGE>
256
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Corona Ely/Ranch Assoc LP Corporations for Corporations for
Affordable Housing LP Affordable Housing LP II
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $31 $397 $322
Revenues $5 $5 $10
Net Income (Loss) ($2) ($47) ($41)
Ownership Interest(s): 99.00% by MHIFED 94 LP 1.00% by EC Properties, 1.00% by EC Properties,
Inc. Inc.
</TABLE>
<PAGE>
257
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Corporations for Cottonwood Affordable Coyote Springs Apts Assoc
Affordable Housing LP III Housing LP (Verde Vista) LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $129 $590 $14,316
Revenues $2 $40 $658
Net Income (Loss) ($5) ($13) ($294)
Ownership Interest(s): 1.00% by EC Properties 99.00% by Edison Capital 99.00% by Edison Funding
III, Inc. Housing Partners VII LP Omicron Inc.
</TABLE>
<PAGE>
258
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Crescent Manor Assoc LP Cypress Cove Assoc Davis MHA Twin Pines
Community Assoc LP
(Northstar Apts)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $25 $6,829 $4,999
Revenues $22 $194 $206
Net Income (Loss) $1 ($97) $137
Ownership Interest(s): 2.85% by John Stewart 99.00% by Edison Funding 99.00% by Edison Capital
Company Omicron Inc. Housing Partners XI LP
</TABLE>
<PAGE>
259
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Del Carlo Court Assoc LP Del Norte Place LP Delta Plaza Apts LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $17,489 $2,463 $6,972
Revenues $199 $314 $80
Net Income (Loss) ($163) ($50) ($71)
Ownership Interest(s): 99.00% by Edison Funding 18.00% by John Stewart 99.00% by Edison Funding
Omicron Inc. Company Omicron Inc.
</TABLE>
<PAGE>
260
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: DeRose Housing Assoc LP Diamond Creek Apts LP Diamond Phase III Venture
LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $22,474 - $20
Revenues $465 - -
Net Income (Loss) ($419) - ($1)
Ownership Interest(s): 99.00% by MH III LP 99.90% by Edison Capital 99.00% by Corporations
Housing Investments for Affordable Housing LP
</TABLE>
<PAGE>
261
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Don Avante Assoc I LP Don Avante Assoc II LP Double X Assoc 1995 LP
(Don de Dios) (Village Avante) (Terrace Manor)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - - $367
Revenues - - $23
Net Income (Loss) - - ($61)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Capital
Housing Investments Housing Investments Housing Partners VI LP
</TABLE>
<PAGE>
262
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: EAH Larkspur Creekside East Cotati Ave Partners Eastwood Homes LP
Assoc LP LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $10,758 $6,326 $11,356
Revenues $239 $287 $248
Net Income (Loss) ($94) ($163) ($224)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 98.99% by Edison Capital
Omicron Inc. Omicron Inc. Housing Partners XI LP
0.01% by Mission Funding
Theta
</TABLE>
<PAGE>
263
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: ECH/HFC GP Partnership ECH/HFC GP Partnership ECH Investor Partners
No. 1 No. 2 VI-A LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $15,326 $6,086 $147
Revenues $1 - -
Net Income (Loss) ($30) ($2) ($2)
Ownership Interest(s): 34.90% by Edison Capital 56.70% by Edison Capital 15.39% by Edison Capital
Housing Investments Housing Investments Contributions VI Partners
50.40% by MHICAL 96 43.30% by MHICAL 95
Company Company
14.70% by MHICAL 97
Company
</TABLE>
<PAGE>
264
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: ECH Investor Partners EDA LP (Eagle's Nest) Edison Capital Affordable
VI-B LP Housing 99A G.P.
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $88 $95 -
Revenues - $19 -
Net Income (Loss) ($1) ($4) -
Ownership Interest(s): 15.39% by Edison Capital 99.00% by Corporations 27.69% by Edison Capital
Contributions VI Partners for Affordable Housing LP Housing Investments
II
36.47% by MHICAl 96
Company
33.05% by MHICAL 97
Company
2.78% by Mission Housing
Epsilon
0.01% by Mission Funding
Theta
</TABLE>
<PAGE>
265
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Edison Capital Affordable Edison Capital Housing Edison Capital Housing
Housing 99B G.P. Partners V LP Partners VI LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - $2,841 $188
Revenues - - -
Net Income (Loss) - - ($2)
Ownership Interest(s): 99.99% by Edison Capital 16.38% by Edison Capital 61.82% by ECH Investor
Housing Investments Housing Investments Partners VI-A LP
0.01% by Mission Funding 37.18% by ECH Investor
Theta Partners VI-B LP
</TABLE>
<PAGE>
266
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Edison Capital Housing Edison Capital Housing Edison Capital Housing
Partners VII LP Partners VIII LP Partners IX LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $3,959 $2,340 -
Revenues $1 - -
Net Income (Loss) ($35) ($4) -
Ownership Interest(s): 19.40% by ECH/HFC GP 18.54% by ECH/HFC GP 13.5533% by Edison
Partnership No. 1 Partnership No. 2 Capital Affordable
Housing 99A G.P.
</TABLE>
<PAGE>
267
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Edison Capital Housing Edison Capital Housing Edison Capital Housing
Partners X LP Partners XI LP Partners XII LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - - -
Revenues - - -
Net Income (Loss) - - -
Ownership Interest(s): 19.3952% by Edison 18.62486% by Edison 13.73759% by Edison
Capital Affordable Capital Affordable Capital Affordable
Housing 99B GP Housing 99B GP Housing 99B GP
</TABLE>
<PAGE>
268
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Edison Capital Housing Edison Capital Edgewood Manor Assoc II LP
Partners XIII LP Contributions VI Partners
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - $8,173 $56
Revenues - $2 $4
Net Income (Loss) - ($35) ($1)
Ownership Interest(s): 17.03513% by Edison 91.77% by Edison Capital 99.00% by Corporations
Capital Affordable Housing Investments for Affordable Housing LP
Housing 99B GP II
4.03% by Edison Housing
North Carolina
4.20% by Edison Housing
South Carolina
</TABLE>
<PAGE>
269
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Edmundson Assoc LP El Barrio Academy Urban Electra Arms Senior Assoc
(Willows) Renewal Assoc LP (El LP
Barrio)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $3,423 $4,006 -
Revenues $170 $111 -
Net Income (Loss) ($116) ($136) -
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.00% by Edison Capital
Omicron Inc. Omicron Inc. Housing Partners XI LP
</TABLE>
<PAGE>
270
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Elizabeth West & East LP Emanuel Grant Company LLC Fairmont Hotel Urban
(Capitol Heights) Renewal Assoc LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $5,516 - $67
Revenues $133 - $2
Net Income (Loss) ($121) - ($4)
Ownership Interest(s): 99.00% by Edison Funding 99.90% by Edison Capital 99.00% by Corporations
Omicron Inc. Housing Investments for Affordable Housing LP
</TABLE>
<PAGE>
271
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Fairview Village Assoc LP Farm (The) Assoc LP Fell St Housing Assoc LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $73 $7,741 $31
Revenues - $290 $6
Net Income (Loss) - ($125) ($3)
Ownership Interest(s): 99.00% by MHIFED 94 LP 99.00% by Edison Funding 99.00% by MHIFED 94 LP
Omicron Inc.
</TABLE>
<PAGE>
272
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Fifth & Wilshire Apts LP Flagstaff Afford-able Florence Apts LLC
Housing II LP (Forest
View Apts)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,559 $1,110 $4,275
Revenues $21 $33 $116
Net Income (Loss) ($32) ($24) ($216)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners VII LP Housing Partners VII LP Housing Investments
</TABLE>
<PAGE>
273
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Florin Woods Assoc LP Forest Winds Assoc LP Fremont Building LP
(Crescent Arms)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $2,556 $720 $5,837
Revenues $408 $15 $615
Net Income (Loss) ($207) ($7) ($815)
Ownership Interest(s): 99.00% by MHICAL 95 LP 99.00% by Mission Housing 99.00% by Edison Funding
Investors Partnership Omicron Inc.
</TABLE>
<PAGE>
274
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Garnet Housing Assoc LP Gateway Housing LP Gilroy Redwood Assoc LP
(Gateway Townhomes) (Redwoods)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $58,293 $89 $6,899
Revenues - $13 $195
Net Income (Loss) - ($4) ($94)
Ownership Interest(s): 99.00% by MHICAL 97 LP 99.00% by Corporations 99.00% by Edison Funding
for Affordable Housing LP Omicron Inc.
II
</TABLE>
<PAGE>
275
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Ginzton Assoc LP Glen Eden Assoc LP (A Good Samaritan Assoc LP
Street)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $9,237 - $49
Revenues $805 - $2
Net Income (Loss) ($70) - ($1)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Mission Housing 99.00% by MHIFED 96A LP
Omicron Inc. Investors Partnership
</TABLE>
<PAGE>
276
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Grace Housing LP Grandy Lake 1996 LP Gray's Meadows Investors
(Grandy Lake Residences) LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - - $137
Revenues - - $16
Net Income (Loss) - - ($9)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Mission Housing
Housing Partners XI LP Housing Investments Investors Partnership
</TABLE>
<PAGE>
277
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Greenway Village Assoc LP Grossman Apts Investors LP Hamilton Place Apts LP
(Larkin Place)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $19,644 $8,809 $1,644
Revenues $243 $104 $97
Net Income (Loss) ($94) ($21) ($11)
Ownership Interest(s): 99.00% by MHICAL 96 LP 99.00% by Edison Funding 99.00% by Edison Capital
Omicron Inc. Housing Partners VI LP
</TABLE>
<PAGE>
278
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Hamilton Place Senior Harry Clark Jr. Hearthstone Group 3 LP
Living LP Residential Center LLC (Evergreen Court)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $30,264 $4,928 $2,239
Revenues $27 - $11
Net Income (Loss) ($71) - ($34)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners VI LP Housing Investments Housing Partners VI LP
</TABLE>
<PAGE>
279
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Heartland-Wisconsin Heather Glen Assoc LP Hercules Senior Housing
Rapids Timber Trails LLC Assoc LP
(Timber Trails)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $7,556 $5,768 $9,544
Revenues $348 $371 $31
Net Income (Loss) ($85) ($173) ($124)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.90% by Edison Capital
Omicron Inc. Omicron Inc. Housing Investments
</TABLE>
<PAGE>
280
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Heritage Partners LP Highland Village Partners Hilltop Farms LP
LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - - -
Revenues - - -
Net Income (Loss) - - -
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.90% by Edison Capital
Housing Partners XII LP Housing Investments Housing Investments
</TABLE>
<PAGE>
281
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: HMB-Atlanta I LP (Spring Hollywood El Centro LP Holy Family Assoc LP
Branch)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $7,475 $23 $7,895
Revenues $833 $6 $613
Net Income (Loss) ($138) ($3) ($241)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by MHIFED 95 LP 99.00% by Edison Funding
Omicron Inc. Omicron Inc.
</TABLE>
<PAGE>
282
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Homestead Village Assoc LP Hope West Apts LP Hotel Elkhart LLC (The
Cornerstone)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $59 $106 $8,299
Revenues $5 $1 $400
Net Income (Loss) ($2) - ($35)
Ownership Interest(s): 99.00% by Corporations 99.00% by MHIFED 94 LP 99.00% by Edison Capital
for Affordable Housing LP Housing Investments
II
</TABLE>
<PAGE>
283
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Huff Ave Assoc LP Jackie Robinson Apts LP Josephinum Assoc LP (The)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $10,617 $32 $2,503
Revenues - - $1,138
Net Income (Loss) - $3 ($671)
Ownership Interest(s): 99.00% by Edison Capital 1.67% by John Stewart 99.00% by Edison Capital
Housing Partners VII LP Company Housing Investments
</TABLE>
<PAGE>
284
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Junction City Apts LP Karen Partners LP KDF Malabar LP (Malabar
(Green Park) Apts)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $50 - $1,040
Revenues $7 - $179
Net Income (Loss) ($4) - ($23)
Ownership Interest(s): 99.00% by Corporations 99.90% by Edison Capital 99.00% by Edison Capital
for Affordable Housing LP Housing Investments Housing Partners VI LP
II
</TABLE>
<PAGE>
285
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: KDF Park Glenn LP (Park KDF Park Glenn Seniors LP KDF Santa Paula LP (Santa
Glenn) (Park Glenn II) Paula)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $4,923 - $4,611
Revenues $1,033 - $275
Net Income (Loss) ($82) - ($42)
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.00% by Edison Capital
Housing Investments Housing Investments Housing Investments
</TABLE>
<PAGE>
286
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Kennedy Court Partners LP Kennedy Lofts Assoc LP King Road Assoc LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $31,699 - -
Revenues $201 - -
Net Income (Loss) ($119) - -
Ownership Interest(s): 99.00% by MHICAL 96 LP 99.00% by Edison Capital 99.90% by Edison Capital
Housing Investments Housing Investments
</TABLE>
<PAGE>
287
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Klamath Assoc LP Knolls Community Assoc LP La Brea/Franklin LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,875 $8,957 $138
Revenues $159 $268 $3
Net Income (Loss) ($77) ($384) ($3)
Ownership Interest(s): 99.00% by MHICAL 96 LP 99.00% by Edison Capital 99.00% by MHIFED 95 LP
Housing Partners IX LP
</TABLE>
<PAGE>
288
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Lackawana Housing Assoc Lark Ellen LP Larkin Pine LP
(Goodwill Neighborhood
Residences)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $3,977 $3,817 $37
Revenues $76 $284 $3
Net Income (Loss) ($189) ($178) ($3)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Capital 99.00% by MHIFED 95 LP
Omicron Inc. Housing Partners X LP
</TABLE>
<PAGE>
289
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Larkspur Isle LP Las Casitas LP La Terraza Assoc LP
(Carlsbad Villas at
Camino Real)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $2 $3 $28,418
Revenues $1 $2 $2,053
Net Income (Loss) - - ($456)
Ownership Interest(s): 0.50% by John Stewart 0.50% by John Stewart 99.00% by Mission Housing
Company Company Partnership 1996 LP
</TABLE>
<PAGE>
290
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Lavell Village Assoc LP LL Housing LP (Laurel LL Housing LLC
Lakes)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $496 $9,994 -
Revenues $17 $144 -
Net Income (Loss) ($5) ($99) -
Ownership Interest(s): 99.00% by MHIFED 96 LP 99.00% by Edison Capital 24.50% by Edison Capital
Housing Investments Housing Investments
</TABLE>
<PAGE>
291
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Lee Park Investors LP Liberty House Assoc LP LINC-Bristol Assoc I, LP
(City Gardens)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $29,071 $45 $1,074
Revenues $7,067 $3 $319
Net Income (Loss) $162 ($2) ($51)
Ownership Interest(s): 99.00% by Mission Housing 99.00% by Corporations 99.00% by Edison Capital
Alpha for Affordable Housing LP Housing Partners VI LP
II
</TABLE>
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Mackenzie Park Assoc LP Madison/Mollison LP (Park Maple Ridge Development
Mollison) Assoc LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $17 $10,676 $24
Revenues $1 $491 $2
Net Income (Loss) - ($80) ($1)
Ownership Interest(s): 99.00% by Corporations 99.00% by Edison Capital 99.00% by Corporations
for Affordable Housing LP Housing Investments for Affordable Housing LP
II
</TABLE>
<PAGE>
293
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Maplewood School Apts LP Mar Assoc LP (Frank Mar) Marlton Residences Assoc
LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $9,727 $20,854 -
Revenues $162 $711 -
Net Income (Loss) ($205) ($423) -
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.00% by Edison Capital
Omicron Inc. Omicron Inc. Housing Investments
</TABLE>
<PAGE>
294
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: MAS-WT LP (Washington Mason St Enterprises LP Mayacamas Village Assoc LP
Terrace)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $627 $14 $7,174
Revenues $227 $2 $314
Net Income (Loss) ($123) - ($149)
Ownership Interest(s): 99.00% by Edison Capital 1.00% by John Stewart 99.00% by MHICAL 94 LP
Housing Partners VI LP Company
</TABLE>
<PAGE>
295
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: McFarland Press Assoc LP Mercantile Housing LLC Mercy Housing California
(Mercantile Square) III LP (3rd & Reed)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $6,641 $8,164 $57
Revenues $199 $1,845 $4
Net Income (Loss) ($160) ($471) ($2)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.00% by MHIFED 95 LP
Omicron Inc. Omicron Inc.
</TABLE>
<PAGE>
296
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Mercy Housing California Mercy Housing California Mercy Housing California
IV LP (Vista Grande) VI LP (205 Jones) IX LP (Sycamore)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $569 $4,508 $19,568
Revenues $34 $247 $383
Net Income (Loss) ($19) ($204) ($441)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by MHICAL 95 LP 99.00% by Edison Capital
Housing Partners V LP Housing Partners X LP
</TABLE>
<PAGE>
297
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Merrill Road Assoc LP Metro Senior Assoc LP MH I LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $7,993 $36 $1,051
Revenues $87 $3 $8
Net Income (Loss) ($84) ($2) ($128)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by MHIFED 96A LP 1.00% by Edison Capital
Omicron Inc. Housing Investments
99.00% by Edison Funding
Omicron Inc.
</TABLE>
<PAGE>
298
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: MH II LP MH III LP MH IV LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $206 $682 $560
Revenues - $14 $17
Net Income (Loss) ($66) ($422) ($386)
Ownership Interest(s): 1.00% by Edison Capital 1.00% by Edison Capital 1.00% by Edison Capital
Housing Investments Housing Investments Housing Investments
99.00% by Mission Housing 99.00% by Mission Housing 99.00% by Mission Housing
Delta Delta Delta
</TABLE>
<PAGE>
299
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: MH V LP MHIFED 94 LP MHICAL 94 LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,546 $465 $23,468
Revenues $7 $1 $140
Net Income (Loss) ($371) ($30) ($1,485)
Ownership Interest(s): 1.00% by Edison Capital 1.00% by Edison Capital 1.00% by Edison Capital
Housing Investments Housing Investments Housing Investments
99.00% by Mission Housing 99.00% by Edison Funding
Delta Omicron Inc.
</TABLE>
<PAGE>
300
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: MHIFED 95 LP MHICAL 95 LP MHIFED 96 LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $531 $31,422 $1,374
Revenues $1 $70 $2
Net Income (Loss) ($37) ($2,160) ($100)
Ownership Interest(s): 1.00% by Edison Capital 1.00% by Edison Capital 5.00% by Edison Capital
Housing Investments Housing Investments Housing Investments
99.00% by Edison Funding
Omicron Inc.
</TABLE>
<PAGE>
301
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: MHIFED 96A LP MHICAL 96 LP MHIFED 97 LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $419 $9,456 -
Revenues - $28 -
Net Income (Loss) ($24) ($1,729) -
Ownership Interest(s): 1.00% by Edison Capital 1.00% by Edison Capital 1.00% by Edison Capital
Housing Investments Housing Investments Housing Investments
99.00% by Edison Funding 99.00% by MHIFED 97
Omicron Inc. Company
</TABLE>
<PAGE>
302
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: MHICAL 97 LP Mid-Peninsula Century Mid-Peninsula Sharmon
Village Assoc LP (Century Palms Assoc LP (Sharmon
Village) Palms)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $8,415 $6,105 $5,567
Revenues $19 $814 $201
Net Income (Loss) ($456) ($79) ($82)
Ownership Interest(s): 1.00% by Edison Capital 99.00% by Edison Funding 99.00% by Edison Capital
Housing Investments Omicron Inc. Housing Investments
99.00% by MHICAL 97
Company
</TABLE>
<PAGE>
303
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Mission Capp LP Mission Housing Investors Mission Housing
Partnership Partnership 1996 LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $3,722 $1,446 $15,278
Revenues $395 $2 $34
Net Income (Loss) ($190) ($107) ($924)
Ownership Interest(s): 99.00% by Edison Funding 5.00% by Mission Housing 1.00% by Edison Capital
Omicron Inc. Theta Housing Investments
99.00% by Edison Funding
Omicron Inc.
</TABLE>
<PAGE>
304
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Monterra Village Assoc LP Morgan Hill Ranch Housing Morrone Gardens Assoc LP
LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $2,228 $1,813 $32
Revenues $213 $3 $6
Net Income (Loss) ($152) ($19) -
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by MHIFED 94 LP
Housing Partners IX LP Housing Partners X LP
</TABLE>
<PAGE>
305
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Mountain View Apts LP Mountain View Townhomes MPT Apts LP (MacArthur
Assoc LP Park)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $5 $1,057 $5,882
Revenues $2 $40 $930
Net Income (Loss) - ($24) ($269)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by MH IV LP
Housing Partners VII LP Housing Partners VII LP
0.26% by John Stewart
Company
</TABLE>
<PAGE>
306
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: National Boston Lofts Neary Lagoon Partners LP North Park Village LLC
Assoc LLLP (Boston Lofts)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $3,769 $3,670 $2,189
Revenues $1,121 $509 $134
Net Income (Loss) ($306) ($383) ($78)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Funding 99.00% by Edison Funding
Housing Investments Omicron Inc. Omicron Inc.
</TABLE>
<PAGE>
307
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: North Town Housing Northwood Manor Assoc LP Oak Forest Assoc LP
Partners LP (Villa del
Norte Village)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $564 $1,037 $766
Revenues $24 $28 $20
Net Income (Loss) ($19) ($46) ($17)
Ownership Interest(s): 99.00% by MHIFED 96 LP 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners VI LP Housing Partners VII LP
</TABLE>
<PAGE>
308
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Oakdale Terrace Leased Oceanside Gardens LP Ohlone Housing Assoc LP
Housing Assoc LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $8,182 $2,780 $530
Revenues $174 $87 $87
Net Income (Loss) ($44) ($43) ($22)
Ownership Interest(s): 98.99% by Edison Capital 99.00% by Edison Funding 99.00% by Edison Capital
Housing Investments Omicron Inc. Housing Partners VIII LP
0.01% by Mission Funding
Theta
</TABLE>
<PAGE>
309
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Olive Court Apts LP Olive Court Housing Assoc OL Hope LP (Olympic Hope)
LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $4,995 - -
Revenues $357 - -
Net Income (Loss) ($223) - -
Ownership Interest(s): 98.90% by Edison Capital 0.6% by Edison Funding 99.90% by Edison Capital
Housing Investments Olive Court Housing Investments
0.1% by Mission Funding
Omicron
</TABLE>
<PAGE>
310
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Omaha Amber Ridge LP Ontario Senior Housing LP Open Door Assoc LP (West
(Amber Ridge) (Ontario Plaza) Valley)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $13,638 $1,789 $14,819
Revenues $566 $52 $442
Net Income (Loss) ($318) ($78) ($155)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Capital 99.00% by Edison Funding
Omicron Inc. Housing Investments Omicron Inc.
</TABLE>
<PAGE>
311
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Osage Terrace LP Oxnard Housing Assoc LP Pacific Terrace Assoc LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $3,466 $95 -
Revenues $42 $3 -
Net Income (Loss) ($31) ($1) -
Ownership Interest(s): 99.89% by Edison Capital 99.00% by MHIFED 96A LP 99.00% by Edison Capital
Housing Partners XII LP Housing Partners IX LP
</TABLE>
<PAGE>
312
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Pacifica Community Assoc Pajaro Court Assoc LP Palmer House LP
LP (Villa Pacifica)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $7,608 $98 $7,884
Revenues $304 $1 $197
Net Income (Loss) ($117) - ($44)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by MHIFED 94 LP 99.00% by Edison Funding
Housing Partners X LP Omicron Inc.
</TABLE>
<PAGE>
313
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Paradise Road Partners LP Park Land Senior Apts Park Place 1998, LLC
(Gateway Village) Investors LP (Banducci)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $318 $3,013 -
Revenues $45 $55 -
Net Income (Loss) ($20) ($76) -
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.90% by Edison Capital
Housing Partners VII LP Housing Partners XIII LP Housing Investments
</TABLE>
<PAGE>
314
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Park Place Terrace LP Park Williams Partners LP Parkside Assoc LP
(Parkside Garden)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,035 - $65
Revenues $47 - $3
Net Income (Loss) ($39) - ($2)
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.00% by Corporations
Housing Partners V LP Housing Investments for Affordable Housing LP
</TABLE>
<PAGE>
315
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Parkview Apts Assoc LP Parsonage Cottage Senior Pecan Court Assoc LP
(Parkview/ Sunburst) Residence LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - $48 $4,119
Revenues - $7 $26
Net Income (Loss) - ($4) ($37)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Corporations 99.00% by Edison Capital
Housing Investments for Affordable Housing LP Housing Investments
II
</TABLE>
<PAGE>
316
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Pellettieri Homes Urban Persimmon Assoc LP Piedmont Housing Assoc
Renewal Assoc LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,660 $13,052 $146
Revenues $82 $127 $10
Net Income (Loss) ($373) ($73) ($7)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Capital 99.00% by Corporations
Omicron Inc. Housing Partners X LP for Affordable Housing LP
III
</TABLE>
<PAGE>
317
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Pilot Grove LP Pinewood on Wisconsin Apts Pines Housing LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $6,623 - $36
Revenues $594 - $3
Net Income (Loss) ($676) - ($1)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Corporations
Housing Investments Housing Investments for Affordable Housing LP
</TABLE>
<PAGE>
318
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Pines Housing II LP Pines Housing III LP Pinmore Assoc LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $23 $27 $4,904
Revenues $2 $2 $394
Net Income (Loss) ($1) ($193)
Ownership Interest(s): 99.00% by Corporations 99.00% by Corporations 99.00% by MHICAL 95 LP
for Affordable Housing LP for Affordable Housing LP
III
</TABLE>
<PAGE>
319
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Pinole Grove Assoc LP Piper Court LP Poco Way Assoc LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $53 $849 $232
Revenues $4 $287 $46
Net Income (Loss) ($1) $249 ($14)
Ownership Interest(s): 99.00% by MHIFED 95 LP 50% by John Stewart 99.00% by MHIFED 96 LP
Company
</TABLE>
<PAGE>
320
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Post Office Plaza LP Preservation Properties I Preservation Properties
LP II LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $5,448 $3,877 $3,426
Revenues $10,192 $233 $263
Net Income (Loss) $632 $39 $39
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.90% by Edison Capital
Housing Investments Housing Investments Housing Investments
</TABLE>
<PAGE>
321
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Preservation Properties Preservation Properties Preservation Properties V
III LP IV LP LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,716 $826 $5,272
Revenues $131 $68 $297
Net Income (Loss) $7 $9 $44
Ownership Interest(s): 99.90% by Edison Capital 99.90% by Edison Capital 99.90% by Edison Capital
Housing Investments Housing Investments Housing Investments
</TABLE>
<PAGE>
322
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: President John Adams Prince Bozzuto LP Project Home I LLC
Manor Apts LP (Fairground Commons)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $19,049 $486 -
Revenues $459 $64 -
Net Income (Loss) ($123) ($19) -
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Mission Housing 99.99% by Edison Capital
Housing Partners XIII LP Investors Partnership Housing Investments
</TABLE>
<PAGE>
323
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Providence-Brown St PVA LP (Park Victoria) Rancho Park Assoc LP
Housing LP (Brown St)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $3,174 $6,321 $552
Revenues $18 $319 $17
Net Income (Loss) ($13) ($26) ($9)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Mission Housing
Housing Partners X LP Housing Partners IX LP Investors Partnership
</TABLE>
<PAGE>
324
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Red Lake LP #1 Reseda Village LP Richmond City Center
Assoc LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $2,628 $65 $6,141
Revenues $10 $3 $396
Net Income (Loss) ($26) ($1) ($196)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by MHIFED 96A LP 99.00% by Edison Funding
Housing Investments Omicron Inc.
</TABLE>
<PAGE>
325
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Rincon De Los Esteros Rittenhouse School LP Riverside/ Liebrandt
Assoc LP Partners LP (La Playa)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $11,227 $47 $4,570
Revenues $2,279 $2 $74
Net Income (Loss) ($396) ($2) ($85)
Ownership Interest(s): 99.00% by MHICAL 94 LP 99.00% by Corporations 99.00% by Edison Funding
for Affordable Housing LP Omicron Inc.
II
</TABLE>
<PAGE>
326
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: River Walk Apts Homes LP Riverwalk Apts, Ltd Roebling Village Inn
(Colorado) Urban Renewal LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,107 $10,482 $2,503
Revenues $41 $409 $52
Net Income (Loss) ($13) ($245) ($74)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Funding
Housing Partners V LP Housing Partners XIII LP Omicron Inc.
</TABLE>
<PAGE>
327
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Rosebloom Assoc LP Rosecreek Senior Living LP Round Walk Village Apts LP
(Oakshade)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $4,321 $3,755 $43
Revenues $181 $890 $9
Net Income (Loss) ($109) ($219) ($2)
Ownership Interest(s): 99.00% by Edison Funding 99.90% by Edison Capital 99.00% by MHIFED 96A LP
Omicron Inc. Housing Partners XIII LP
</TABLE>
<PAGE>
328
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Rustic Gardens Assoc LP Salem Lafayette Urban San Diego Golden Villa
Renewal Assoc LP Partners LP (Golden Villa)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,268 $58 $8
Revenues $6 $4 -
Net Income (Loss) ($4) $2 -
Ownership Interest(s): 99.00% by Mission Housing 99.00% by Corporations 99.00% by Edison Capital
Investors Partnership for Affordable Housing LP Housing Partners V LP
III
</TABLE>
<PAGE>
329
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: San Juan Commons 1996 LP San Martin de Porres LP San Pablo Senior Housing
Assoc LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $3,629 - $4,356
Revenues $6 - $316
Net Income (Loss) ($113) - ($124)
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.00% by Edison Funding
Housing Partners X LP Housing Investments Omicron Inc.
</TABLE>
<PAGE>
330
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: San Pedro Gardens Assoc LP Santa Alicia Family Santa Alicia Gardens
Housing Assoc Townhomes LP (The Gardens)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $3,481 $25 $2,276
Revenues $117 $1 $24
Net Income (Loss) ($126) ($1) ($9)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by MHIFED 96A LP 99.00% by Edison Capital
Omicron Inc. Housing Partners V LP
</TABLE>
<PAGE>
331
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Santa Paulan Senior Apts Saratoga Vacaville LP Schoolhouse Court Housing
Assoc LP (The Paulan) (Saratoga Senior) Assoc LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $5,742 - $3,417
Revenues $849 - $59
Net Income (Loss) ($111) - ($82)
Ownership Interest(s): 99.00% by Edison Funding 99.90% by Edison Capital 99.00% by Edison Capital
Omicron Inc. Housing Investments Housing Investments
</TABLE>
<PAGE>
332
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Sea Ranch Apts LP Seasons Affordable Senior Second St Center LP
Housing LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $2,558 $410 $39
Revenues $9 $22 $3
Net Income (Loss) ($4) ($11) ($1)
Ownership Interest(s): 99.00% by Mission Housing 99.00% by MHIFED 96 LP 99.00% by MHIFED 95 LP
Investors Partnership
</TABLE>
<PAGE>
333
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Serena Sunbow LP (Villa Sherman Glen, LLC Shiloh Arms LP
Serena)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - $3,280 $80
Revenues - $507 $76
Net Income (Loss) - ($235) ($2)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 1%GP/9.8%LP by John
Housing Investments Housing Partners IX LP Stewart Company
</TABLE>
<PAGE>
334
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Silver City Housing LP Silver Lake Properties LP Sky Parkway Housing Assoc
LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $67 $434 $7,412
Revenues $13 $35 $372
Net Income (Loss) ($4) ($14) ($196)
Ownership Interest(s): 99.00% by Corporations 99.00% by Edison Capital 99.00% by MHICAL 96 LP
for Affordable Housing LP Housing Partners VI LP
II
</TABLE>
<PAGE>
335
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Smyrna Gardens Assoc LP Solinas Village Partners South 55th St LP
LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $25 $20 $29
Revenues $3 $2 $1
Net Income (Loss) ($2) ($1) -
Ownership Interest(s): 99.00% by Corporations 99.00% by MHIFED 95 LP 99.00% by Corporations
for Affordable Housing LP for Affordable Housing LP
II
</TABLE>
<PAGE>
336
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: South Beach Housing Assoc South Winery Assoc LP Southern Hotel LP
LP (Steamboat Point) (The Winery Apts)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $19,780 $1,830 -
Revenues $707 $939 -
Net Income (Loss) ($331) ($231) -
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.90% by Edison Capital
Omicron Inc. Omicron Inc. Housing Investments
</TABLE>
<PAGE>
337
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Springdale Kresson Assoc Springdale Preservation Spring Valley Commons
LP (Jewish Federation) LP (Springdale West)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $328 - $61
Revenues $26 - -
Net Income (Loss) ($15) - -
Ownership Interest(s): 99.00% by Mission Housing 99.90% by Edison Capital 99.00% by Corporations
Investors Partnership Housing Investments for Affordable Housing LP
III
</TABLE>
<PAGE>
338
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Stevenson Housing Assoc St. Hedwigs Gardens St. John's LP
(Park Vista)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $48 $278 $275
Revenues - $26 $287
Net Income (Loss) - ($15) $13
Ownership Interest(s): 99.00% by Corporations 99.00% by Edison Capital 1%GP/19.6%LP by John
for Affordable Housing LP Housing Partners V LP Stewart Company
III
</TABLE>
<PAGE>
339
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Stoney Creek Assoc LP Stony Point Apt Investors Strobridge Housing Assoc
LP (Panas Place) LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $9,031 $11,326 $4,449
Revenues $421 $337 $562
Net Income (Loss) ($331) ($297) ($499)
Ownership Interest(s): 99.00% by Edison Funding 99.90% by Edison Capital 99.00% by Edison Capital
Omicron Inc. Housing Partners XI LP Housing Partners IX LP
</TABLE>
<PAGE>
340
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Studebaker Building LP Sultana Acres Assoc LP Sunset Creek Partners LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $778 $1,903 $1,135
Revenues $234 $140 $504
Net Income (Loss) ($127) ($89) ($252)
Ownership Interest(s): 99.00% by Edison Funding 99.00% by Edison Funding 99.00% by MHICAL 95 LP
Omicron Inc. Omicron Inc.
</TABLE>
<PAGE>
341
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Sunshine Terrace LP Tabor Grand LP Terra Cotta Housing Assoc
LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $2,461 $1,771 -
Revenues $20 $222 -
Net Income (Loss) ($27) ($151) -
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.90% by Edison Capital
Housing Partners V LP Housing Investments Housing Investments
</TABLE>
<PAGE>
342
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: The IBEX Group GP Thomson Rental Housing LP Three Oaks Housing LP
(Washington Place)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $224 $9,076 $48
Revenues $7 $188 $3
Net Income (Loss) ($19) ($55) ($1)
Ownership Interest(s): 10.00% by John Stewart 99.00% by Edison Funding 99.00% by MHIFED 95 LP
Company Omicron Inc.
</TABLE>
<PAGE>
343
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Tierra Linda Assoc LP Timber Sound, Ltd Timber Sound II, Ltd
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $89 $30,655 $9,727
Revenues $1 $466 $219
Net Income (Loss) ($1) ($109) ($169)
Ownership Interest(s): 99.00% by MHIFED 94 LP 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners X LP Housing Partners X LP
</TABLE>
<PAGE>
344
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Tioga Gardens LP Tlaquepaque Housing Assoc Trinity Park Apts LP
LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $44 $39 $2,844
Revenues $2 $4 $37
Net Income (Loss) ($1) ($1) ($89)
Ownership Interest(s): 99.00% by Corporations 99.00% by MHIFED 94 LP 99.00% by Edison Capital
for Affordable Housing LP Housing Partners X LP
</TABLE>
<PAGE>
345
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Trolley Terrace Townhomes Tuscany Assoc LP (Tuscany Twin Ponds Apts LP
LP Villa)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $2,920 $1,114 $10,815
Revenues $61 $231 $809
Net Income (Loss) ($126) ($145) ($244)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Funding 99.00% by Edison Capital
Housing Partners IX LP Omicron Inc. Housing Partners XIII LP
</TABLE>
<PAGE>
346
E
dison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Union Meadows Apts University Park Upland Senior Housing LP
Properties LP (Coy D. Estes)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $5,535 $1,067 $610
Revenues $127 $24 $104
Net Income (Loss) ($307) ($36) ($32)
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Capital 99.00% by Edison Capital
Housing Partners V LP Housing Partners VI LP Housing Partners VI LP
</TABLE>
<PAGE>
347
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Venbury Trail LP Villa Maria Housing Village East Apts LP
Partnership
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $9,049 $5,632 $20
Revenues $423 $117 $23
Net Income (Loss) ($137) ($129) -
Ownership Interest(s): 99.00% by Edison Capital 99.00% by Edison Funding 3% by John Stewart Company
Housing Partners X LP Omicron Inc.
</TABLE>
<PAGE>
348
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Vine St Court LP Vine St Court LP II Vista Properties LLC
(Vista View)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $6,271 $24 $878
Revenues $248 $1 $46
Net Income (Loss) ($71) - ($81)
Ownership Interest(s): 99.00% by MHIFED 96A LP 99.00% by MHIFED 96A LP 99.00% by Edison Capital
Housing Partners VI LP
</TABLE>
<PAGE>
349
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Vista Sonoma Senior Vista Verde Townhomes II W.M. Housing Assoc LP
Living LP LLC (Williamsport Manor
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - $7,924 $62
Revenues - $60 $9
Net Income (Loss) - ($77) ($4)
Ownership Interest(s): 99.90% by Edison Capital 99.00% by Edison Capital 99.00% by Corporations
Housing Investments Housing Partners VI LP for Affordable Housing LP
II
</TABLE>
<PAGE>
350
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Walden Pond Ltd LP Wall Street Palmer House Walnut Ave Partnership LP
(Hamlet) LP (Palmer Hotel)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $220 $6,859 $13,885
Revenues $20 $29 -
Net Income (Loss) ($10) ($19) -
Ownership Interest(s): 99.00% by Corporations 99.00% by Edison Capital 99.00% by Edison Capital
for Affordable Housing LP Housing Partners XI LP Housing Partners IX LP
</TABLE>
<PAGE>
351
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Washington Creek Assoc LP West Capital Courtyard LP Westfair LLC (Cedar Ridge)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $2,315 $4,547 -
Revenues $196 $289 -
Net Income (Loss) ($136) ($192) -
Ownership Interest(s): 99.00% by Edison Funding 99.00% by MHICAL 94 LP 99.90% by Edison Capital
Omicron Inc. Housing Investments
</TABLE>
<PAGE>
352
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Westfield Condominium Westgate Townhomes Assoc West Oaks Apts LP
Investment LP LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $3,748 $4,368 -
Revenues $149 $208 -
Net Income (Loss) $52 ($143) -
Ownership Interest(s): 98.99% by Edison Capital 99.00% by MHICAL 96 LP 99.90% by Edison Capital
Housing Investments Housing Partners XII LP
0.01% by Mission Funding
Theta
</TABLE>
<PAGE>
353
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Westport Village Homes West Valley Hart LP (Hart Wheeler Manor Assoc LP
Assoc LP & Alabama)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $11,121 - $3,125
Revenues $123 - $633
Net Income (Loss) ($34) - ($302)
Ownership Interest(s): 99.00% by Edison Funding 99.90% by Edison Capital 99.00% by Edison Funding
Omicron Inc. Housing Investments Omicron Inc.
</TABLE>
<PAGE>
354
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: White Mountain Apache Wilmington Housing Assoc Wingate LLC (Regency Park)
Housing LP (New Harbor Vista)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,889 - -
Revenues $52 - -
Net Income (Loss) ($47) - -
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.90% by Edison Capital
Housing Investments Housing Partners XI LP Housing Investments
</TABLE>
<PAGE>
355
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Winfield Hill Assoc LP Winnsboro Apts LP (Deer Women's Westlake LP
Wood) (Dorothy Day)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $7,716 - $4,771
Revenues $1,119 - $103
Net Income (Loss) ($292) - ($96)
Ownership Interest(s): 99.00% by MHICAL 94 LP 99.00% by Corporations 99.00% by Edison Capital
for Affordable Housing LP Housing Partners XIII LP
II
</TABLE>
<PAGE>
356
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Woodhaven Senior Woodland Arms Apts, Ltd Woodleaf Village LP
Residences LP (Willow Creek)
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $21 $623 $2,682
Revenues $4 $142 $67
Net Income (Loss) ($1) ($138) ($124)
Ownership Interest(s): 1.00% by John Stewart 99.00% by Edison Capital 98.99% by Edison Capital
Company Housing Partners VII LP Housing Partners XIII LP
0.01% by Mission Funding
Theta
</TABLE>
<PAGE>
357
Edison Capital
Equity Investments in Real Estate Limited Partnerships
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: WPA/Edison LLC (Pier A) Yale Street LP YWCA Villa Nueva Partners
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - $2,817 $2,317
Revenues - $11 $336
Net Income (Loss) - ($28) ($151)
Ownership Interest(s): 99.00% by Edison Capital 99.90% by Edison Capital 99.00% by Edison Funding
Housing New York Housing Partners XII LP Omicron Inc.
</TABLE>
<PAGE>
358
Edison Capital
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: ABB Funding Partners LP AIG Asian Infrastructure AIG-GE Capital Latin
Fund II LP American Infrastructure
Fund LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $74 $26,587 $28,267
Revenues $2 $107 $383
Net Income (Loss) - ($1,353) ($857)
Ownership Interest(s): 14.27% by Mission Funding 5.80% by Edison Capital 8.00% by Edison Capital
Kappa Latin American Latin American
Investments (Bermuda) Ltd. Investments (Bermuda) Ltd.
</TABLE>
<PAGE>
359
Edison Capital
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: AIG Emerging Europe AIG Emerging Europe Electricidad de La Paz,
Infrastructure Fund LP Infrastructure Management S.A. (Electropaz)
LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - - -
Revenues - - -
Net Income (Loss) - - -
Ownership Interest(s): 18.05% by Edison Capital 23.60% by Edison Capital 10% by Edison Capital
Latin American Latin American International (Bermuda)
Investments (Bermuda) Ltd. Investments (Bermuda) Ltd. Ltd.
</TABLE>
<PAGE>
360
Edison Capital
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: EPZ Mission Funding Mu EPZ Mission Funding Nu GEM Energy Company
Trust Trust
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - - $1,351
Revenues - - $338
Net Income (Loss) - - $171
Ownership Interest(s): 100% by Mission Funding Mu 100% by Mission Funding Nu 50.00% by Mission Funding
Epsilon
</TABLE>
<PAGE>
361
Edison Capital
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: HpC King's College Huntington LP Lakota Ridge LLC
Hospital (Holdings)
Limited
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - $106,381 $11,174
Revenues - $5,216 $300
Net Income (Loss) - $1,088 -
Ownership Interest(s): 20.00% by Edison Capital 50.00% by Mission Funding 75.00% by Mission Funding
(Netherlands) Investments Zeta Zeta
B.V.
</TABLE>
<PAGE>
362
Edison Capital
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Lyonnaise Latin America Olmeca Cable Investments Shaokatan Hills LLC
Water Corporation Ltd. Ltd.
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - - $12,723
Revenues - - $365
Net Income (Loss) - - $21
Ownership Interest(s): 25.8% by Edison Capital 21.7% by Edison Capital 75.00% by Mission Funding
International (Bermuda) International (Bermuda) Zeta
Ltd Ltd.
</TABLE>
<PAGE>
363
Edison Capital
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Summit Holdings (Law) Storm Lake Power Partners Trinidad and Tobago
Limited (Law Hospital) Methanol Co Ltd
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - $184,136 $2,400
Revenues - $1,718 $423
Net Income (Loss) - ($3,538) $423
Ownership Interest(s): 20% by Edison Capital 99.00% by Mission Iowa 1.0% by Edison Capital
(Netherlands) Investments Wind Company LAI (Bermuda) Ltd.
B.V.
</TABLE>
<PAGE>
364
Edison Capital
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Woodstock Hills LLC
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $9,166 - -
Revenues $388 - -
Net Income (Loss) $12 - -
Ownership Interest(s): 75.00% by Mission Funding
Zeta
</TABLE>
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Associated Calabasas Carol Stream
Southern Palatino, Inc. Developers G.P.
Investment Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $598 - -
Receivables - net 6,607 $1,045 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 7,205 1,045 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (866) (1,786) -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (866) (1,786)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $6,339 ($741) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
366
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Centrelake Irwindale Land Mission Airport
Partners LP Company (Inactive) Park Development
Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - $8
Receivables - net - $349 42,908
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - 56 -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 405 42,916
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $405 $42,916
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
367
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Industrial Mission-Oceangate Mission/ Ontario,
Constructors, Inc. Inc. (Inactive)
(Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - $410
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - 222
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 9
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - 641
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - $641
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
368
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission South Bay Mission Texas Mission Vacaville
Company (Inactive) Property Holdings, LP
Inc. (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $383 $88 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 383 88 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $383 $88 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
369
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Land Consolidating Mission Land
Company Adjustments Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $12,263 - $12,869
Receivables - net (36,784) ($11,337) 3,669
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net 2,623 (2,901) -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (180) 180 9
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (22,078) (14,058) 16,547
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 76,926 3,656 77,930
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 27,465 (27,465) -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 104,391 (23,809) 77,930
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges 1,157 (1,157) -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 521 16,750 17,271
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,678 15,593 17,271
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $83,991 ($22,274) $111,748
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
370
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Associated Southern Calabasas Carol Stream
Investment Company Palatino, Inc. Developers G.P.
(Inactive)
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable $1,729 $309 -
Accrued taxes - - -
Accrued interest - 116 -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total current liabilities 1,729 425 -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Long-term debt - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Accumulated deferred income taxes - net 2,202 52 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities (46) 957 -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total deferred credits and other liabilities 2,156 1,009 -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Minority Interest - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Common stock 1 - -
Additional paid-in capital 1,240 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 1,213 (2,175) -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total common shareholders' equity 2,454 (2,175) -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total liabilities and shareholders' equity $6,339 ($741) -
================================================================= ===================== ==================== ====================
</TABLE>
<PAGE>
371
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Centrelake Partners Irwindale Land Mission Airport
LP Company (Inactive) Park Development
Company
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable - ($9,611) $6,695
Accrued taxes - - -
Accrued interest - 430 842
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - 5
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total current liabilities - ($9,181) 7,542
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Long-term debt - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (252) 1,363
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 3,044 (7,962)
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total deferred credits and other liabilities - 2,792 (6,599)
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Minority Interest - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Common stock - - 1
Additional paid-in capital - - 45,081
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings - 6,794 (3,109)
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total common shareholders' equity - 6,794 41,973
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $405 $42,916
================================================================= ===================== ==================== ====================
</TABLE>
<PAGE>
372
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Industrial Mission-Oceangate Mission/ Ontario,
Constructors, Inc. Inc. (Inactive)
(Inactive)
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable $1 - $19,796
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - 10
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total current liabilities 1 - 19,806
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Long-term debt - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - (6,222)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - 8
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total deferred credits and other liabilities - - (6,214)
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Minority Interest - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - - (21,187)
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (1) - 8,236
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total common shareholders' equity ($1) - (12,951)
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - $641
================================================================= ===================== ==================== ====================
</TABLE>
<PAGE>
373
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission South Bay Mission Texas Mission Vacaville
Company (Inactive) Property Holdings, LP
Inc. (Inactive)
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable - $729 -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total current liabilities - 729 -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Long-term debt - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Accumulated deferred income taxes - net $291 186 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 72 -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total deferred credits and other liabilities 291 258 -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Minority Interest - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - 32 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 92 (931) -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total common shareholders' equity 92 (899) -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total liabilities and shareholders' equity $383 $88 -
================================================================= ===================== ==================== ====================
</TABLE>
<PAGE>
374
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Land Company Consolidating Mission Land
Adjustments Company
Consolidated
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable ($10,448) ($8,980) $220
Accrued taxes - 372 372
Accrued interest (1,388) - -
Dividends payable - - -
Deferred unbilled revenue and other
current liabilities 420 890 1,325
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total current liabilities (11,416) (7,718) 1,917
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Long-term debt - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Accumulated deferred income taxes - net (6,590) 8,970 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits 965 (965) -
Other long-term liabilities 9,502 (158) 5,417
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total deferred credits and other liabilities 3,877 7,847 5,417
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Minority Interest - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Common stock - (2) -
Additional paid-in capital 87,115 (9,700) 102,581
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 4,415 (12,701) 1,833
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total common shareholders' equity 91,530 (22,403) 104,414
- ----------------------------------------------------------------- --------------------- -------------------- --------------------
Total liabilities and shareholders' equity $83,991 ($22,274) $111,748
================================================================= ===================== ==================== ====================
</TABLE>
<PAGE>
375
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Associated Calabasas Palatino, Carol Stream
Southern Inc. (Inactive) Developers G.P.
Investment Company
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $703 - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total operating revenue 703 - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 3 - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total operating expenses 3 - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Operating income 700 - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Interest and dividend income - - -
Other nonoperating income (deductions) - net - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total other income - net - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income before fixed charges and taxes 700 - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total fixed charges - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Minority interest - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income before taxes 700 - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income taxes 750 ($1,648) -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Net income (50) 1,648 -
Retained earnings - beginning of year 1,263 (3,823) -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Retained earnings - end of year $1,213 ($2,175) -
================================================================ ==================== ===================== ====================
</TABLE>
<PAGE>
376
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Centrelake Irwindale Land Mission Airport
Partners LP Company (Inactive) Park Development
Company
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total operating revenue - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - $23
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - (16)
Net loss (gain) on sale of utility plant - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total operating expenses - - 7
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Operating income - - (7)
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Interest and dividend income - - -
Other nonoperating income (deductions) - net - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total other income - net - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income before fixed charges and taxes - - (7)
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total fixed charges - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Minority interest - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income before taxes - - (7)
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income taxes - ($3,055) 3,430
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Net income - 3,055 (3,437)
Retained earnings - beginning of year - 3,739 328
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Retained earnings - end of year - $6,794 ($3,109)
================================================================ ==================== ===================== ====================
</TABLE>
<PAGE>
377
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Industrial Mission-Oceangate Mission/ Ontario,
Constructors, Inc. Inc. (Inactive)
(Inactive)
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total operating revenue - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total operating expenses - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Operating income - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Interest and dividend income - - -
Other nonoperating income (deductions) - net - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total other income - net - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income before fixed charges and taxes - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total fixed charges - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Minority interest - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income before taxes - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income taxes ($1) - ($7,114)
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Net income 1 - 7,114
Retained earnings - beginning of year (2) - 1,122
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Retained earnings - end of year ($1) - $8,236
================================================================ ==================== ===================== ====================
</TABLE>
<PAGE>
378
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission South Bay Mission Texas Mission Vacaville
Company (Inactive) Property Holdings, LP
Inc. (Inactive)
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total operating revenue - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total operating expenses - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Operating income - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Interest and dividend income - - -
Other nonoperating income (deductions) - net - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total other income - net - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income before fixed charges and taxes - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total fixed charges - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Minority interest - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income before taxes - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income taxes ($340) - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Net income 340 - -
Retained earnings - beginning of year (248) ($931) -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Retained earnings - end of year $92 ($931) -
================================================================ ==================== ===================== ====================
</TABLE>
<PAGE>
379
Mission Land Company and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Land Consolidating Mission Land
Company Adjustments Company
Consolidated
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other $9,766 - $10,469
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total operating revenue 9,766 - 10,469
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 7,721 ($4) 7,743
Depreciation, decommissioning and
amortization 451 - 451
Property and other taxes 2,204 3 2,191
Net loss (gain) on sale of utility plant - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total operating expenses 10,376 (1) 10,385
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Operating income (610) 1 84
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Interest and dividend income 138 (1) 137
Other nonoperating income (deductions) - net - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total other income - net 138 (1) 137
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income before fixed charges and taxes (472) - 221
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Total fixed charges - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Minority interest - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income before taxes (472) - 221
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Income taxes 9,287 (1,434) (125)
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Net income (9,759) 1,434 346
Retained earnings - beginning of year 14,174 (14,135) 1,487
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ---------------------------------------------------------------- -------------------- --------------------- --------------------
Retained earnings - end of year $4,415 ($12,701) $1,833
================================================================ ==================== ===================== ====================
</TABLE>
<PAGE>
380
Mission Power Engineering Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Associated Mission Power Consolidating
Southern Engineering Company Adjustments
Engineering
Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - $12 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 12 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $12 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
381
Mission Power Engineering Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Power
Engineering
Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $12 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 12 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $12 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
382
Mission Power Engineering Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Associated Mission Power Consolidating
Southern Engineering Company Adjustments
Engineering
Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $3 - ($3)
Accrued taxes - - -
Accrued interest - $150 -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 3 150 (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 8,701 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 8,701 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 3,000 -
Additional paid-in capital
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (3) (11,839) 3
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($3) (8,839) $3
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $12 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
383
Mission Power Engineering Company and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Power
Engineering
Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest $150 - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 150 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 8,701 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 8,701 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 3,000 - -
Additional paid-in capital
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (11,839) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (8,839) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $12 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
384
Mission Power Engineering Company and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Associated Mission Power Consolidating
Southern Engineering Company Adjustments
Engineering
Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - $109 -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - 1 -
Net loss (gain) on sale of utility plant - 12 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 122 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - (122) -
Other utility operating income-net - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - 1,004 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 1,004 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 882 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - 882 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - 113 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - 769 -
Retained earnings - beginning of year ($3) (12,608) $3
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($3) ($11,839) $3
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
385
Mission Power Engineering Company and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Power
Engineering
Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $109 - -
Depreciation, decommissioning and
amortization 1 - -
Property and other taxes 12 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 122 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (122) - -
Other utility operating income-net
Interest and dividend income - - -
Other nonoperating income (deductions)-net 1,004 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 1,004 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 882 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 882 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 113 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 769 - -
Retained earnings - beginning of year (12,608) - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($11,839) - -
============================================================= ==================== ==================== ====================
</TABLE>
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Aguila Energy Anacapa Energy Arrowhead Energy
Company Company Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $5 $2 -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 4 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 5 6 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 10,667 10,272 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 10,667 10,272
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $10,672 $10,278 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
387
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Balboa Energy Bergen Point Blue Ridge Energy
Company Energy Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships $1,024
and unconsolidated subsidiaries - -
Investments in leveraged leases - - -
Other investments - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,024
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $1,024 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
388
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Bretton Woods Camino Energy Capistrano
Energy Company Company Cogeneration
Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $24 $16
Receivables - net - 329 5
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 30 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 383 21
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 110,754 16,278
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 110,754 16,278
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 18,583 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 18,583 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $129,720 $16,299
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
389
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Centerport Energy Chesapeake Bay Chester Energy
Company Energy Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
390
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Clayville Energy Colonial Energy Coronado Energy
Company Company (Inactive) Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
391
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Del Mar Energy Delaware Energy Desert Sunrise
Company Conservers, Inc. Energy Company
(Inactive) (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $3 - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 4 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 7 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 4,996 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 4,996
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,003 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
392
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Devereaux Energy Eastern Sierra East Maine Energy
Company Energy Company Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - $88 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 88 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $6,215 14,272 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 6,215 14,272
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $6,215 $14,360 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
393
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Alabama Edison Mission Edison Mission
Generating Company Energy Fuel Energy Fuel
Consolidated Services, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $7 -
Receivables - net - (1) -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 6 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - $661
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 49,173 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 49,173 661
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $49,179 $661
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
394
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Funding Energy Global Energy Interface
Corp. Management, Inc. Ltd.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
-
Cash and equivalents - $8,738 -
Receivables - net $44,993 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 44,993 8,738 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 616,773 $357
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 616,773 357
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 319,364 11,941 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 319,364 11,941 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $364,357 $637,452 $357
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
395
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Fuel Transpor- Fuel Resources, Financial
tation, Inc. Inc. Marketing &
Trading Co.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - $3,209
Receivables - net - - 16
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 2,488
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - 5,713
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 3,406
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 3,406
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - $9,119
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
396
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Marketing & Holdings Co. Operation &
Trading, Inc. [4] Consolidated Maintenance, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $2,066 $44,510 $285
Receivables - net 51,507 114 5,112
Fuel inventory - 20,837 -
Materials and supplies, at average cost - 26,130 -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (1) 1,187 120
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 53,572 92,778 5,517
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 382 1,876,892 28
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 382 1,876,892 28
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 11,766 24
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 11,766 24
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $53,954 $1,981,436 $5,569
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
397
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission El Dorado Energy EMP Inc. (Inactive)
Project Co. Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - $72 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 72 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $443,358 (163) -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 443,358 (163)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $443,358 ($91) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
398
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Four Counties Gas Global Power Hanover Energy
Company (Inactive) Investors, Inc. Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - $15
Receivables - net - - 22
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - 37
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 10,522
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 10,522
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - $10,559
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
399
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Holtsville Energy Indian Bay Energy Jefferson Energy
Company Company Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
400
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Kings Canyon Kingspark Energy Laguna Energy
Energy Company Company Company (Inactive)
(Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
401
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
La Jolla Energy Lakeview Energy Lehigh River
Company (Inactive) Company Energy Company
(Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
402
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Longview Madera Energy Madison Energy
Cogeneration Company Company
Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - $29,076
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 29,076
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - $29,076
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
403
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Midwest Generation Mission Capital LP Mission/Eagle
EME, LLC Energy Company
Consolidated (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $41,692 - -
Receivables - net 94 - -
Fuel inventory 74,991 - -
Materials and supplies, at average cost 14,166 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 809 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 131,752 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 4,264,574 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 4,264,574 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 28,740 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 28,740 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $4,425,066 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
404
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Mission Energy Mission Energy
Construction Generation, Inc. Holdings, Inc.
Services, Inc. (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $5,313 - ($1)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,313 (1)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 5,478
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 5,478
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,313 - $5,477
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
405
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy EME UK Mission Energy
Holdings International LLC Indonesia
International Inc. (4) (Inactive)
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C>
Cash and equivalents $293,844 - -
Receivables - net 203,237 - -
Fuel inventory 95,399 - -
Materials and supplies, at average cost 27,341 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 25,988 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 645,809 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 5,914,964 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 559,693 $443,358 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 6,474,657 443,358 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 408,586 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 408,586 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $7,529,052 $443,358 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
406
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Mission Energy New Mission Energy
Mexico (Inactive) York, Inc. Wales Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $42 $20
Receivables - net - 42 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 851
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 84 871
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 89,959 201,463
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 89,959 201,463
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $90,043 $202,334
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
407
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Operations Mission Triple North Jackson
de Mexico, S.A. de Cycle Systems Energy Company
C.V. Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
408
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Northern Sierra Ortega Energy Panther Timber
Energy Company Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
409
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Paradise Energy Pleasant Valley Prince George
Company (Inactive) Energy Company Energy Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $9 $12
Receivables - net - - 14
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 9 26
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 2,887 18,702
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,887 18,702
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $2,896 $18,728
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
410
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Quartz Peak Energy Rapidan Energy Reeves Bay Energy
Company Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $18 -
Receivables - net $5 21 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 13 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 18 39 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 13,079 622 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 13,079 622
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $13,097 $661 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
411
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Ridgecrest Energy Rio Escondido Riverport Energy
Company Energy Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $32 -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 32 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $32 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
412
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
San Gabriel Energy San Joaquin Energy San Juan Energy
Company (Inactive) Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $1 -
Receivables - net $49 17 $4
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 20 17
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 49 38 21
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 54,494 18,957
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 54,494 18,957
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 7,241 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 7,241 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $49 $61,773 $18,978
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
413
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
San Pedro Energy Santa Ana Energy Santa Clara Energy
Company Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
414
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Silverado Energy Silver Springs Sonoma Geothermal
Company Energy Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $1 - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 4 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 5 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 8,952 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 8,952 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $8,957 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
415
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
South Coast Energy Southern Sierra Thorofare Energy
Company Energy Company Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $1 $74 -
Receivables - net 6 17 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 31 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 7 122 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 30,618 48,620 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 30,618 48,620
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 9,581 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 9,581 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $30,625 $58,323 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
416
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Viejo Energy Vista Energy Western Sierra
Company Company (Inactive) Energy Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $1 $6 $77
Receivables - net - 1,219 7
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 4 - 35
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 5 1,225 119
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 10,819 - 66,685
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 10,819 - 66,685
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 11,548
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 11,548
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $10,824 $1,225 $78,352
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
417
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Consolidating Edison Mission
Energy Adjustments Energy Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $3,985 - $398,695
Receivables - net 3,814 ($44,987) 265,816
Fuel inventory - - 191,227
Materials and supplies, at average cost - - 67,637
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 2,382 (2) 33,984
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 10,181 (44,989) 957,359
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 61,427 - 12,122,334
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 5,943,858 (6,900,776) 1,940,876
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 6,005,285 (6,900,776) 14,063,210
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 9,407 (328,607) 513,652
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 9,407 (328,607) 513,652
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $6,024,873 ($7,274,372) $15,534,221
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
418
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Aguila Energy Anacapa Energy Arrowhead Energy
Company Company Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($17,232) $923 $1
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - 1 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (17,232) 924 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 28,669 1,669 (53)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 28,669 1,669 (53)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 7,868 8,278 40
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (8,633) (593) 12
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (765) 7,685 52
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $10,672 $10,278 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
419
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Balboa Energy Bergen Point Blue Ridge Energy
Company Energy Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - $511 -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 511 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net ($4) 191 ($4)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (4) 191 (4)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 14 4,627 13
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (10) (4,305) (9)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity $4 322 $4
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $1,024 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
420
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Bretton Woods Camino Energy Capistrano
Energy Company Company Cogeneration
Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $37,754 -
Accounts payable ($52) (298,546) ($1,466)
Accrued taxes - - -
Accrued interest - 7,202 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - 14 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (52) (253,576) (1,466)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 319,364 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 52 24,265 14,251
Accumulated deferred investment
tax credits - 7,140 1,895
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities $52 31,405 16,146
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - 13,716 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - 18,811 1,619
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 32,527 1,619
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $129,720 $16,299
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
421
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Centerport Energy Chesapeake Bay Chester Energy
Company Energy Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($44) ($15) $1
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (44) (15) 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 44 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities $44 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding - - -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - 1,533 141
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - (1,518) (142)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - $15 ($1)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
422
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Clayville Energy Colonial Energy Coronado Energy
Company Company (Inactive) Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital $5 $4 $5
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings ($5) ($4) ($5)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
423
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Del Mar Energy Delaware Energy Desert Sunrise
Company Conservers, Inc. Energy Company
(Inactive) (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $403 $1 ($242)
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 1 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 404 1 (242)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 2,321 - (9)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 2,321 - (9)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 4,755 1 4
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (2,477) (2) 247
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,278 ($1) $251
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,003 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
424
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Devereaux Energy Eastern Sierra East Maine Energy
Company Energy Company Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($215) ($97) $1
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (215) (97) 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 3,985 1,772 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 3,985 1,772 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 11,907 9,153 7
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (9,462) 3,532 (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,445 12,685 ($1)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $6,215 $14,360 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
425
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Alabama Edison Mission Edison Mission
Generating Company Energy Fuel Energy Fuel
Consolidated Services, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - - $903
Accrued taxes - ($37,638) -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - 757 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - (36,881) 903
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 16,437 10
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 16,437 10
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - 27,124 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - 42,499 (252)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 69,623 (252)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $49,179 $661
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
426
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Funding Energy Global Energy Interface
Corp. Management, Inc. Ltd.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - -
Current portion of long-term debt $37,754 - -
Accounts payable - $4,336 $45
Accrued taxes - 863 (10)
Accrued interest 7,202 - -
Dividends payable - 659 -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 37 2,695 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 44,993 8,553 35
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 319,364 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (215) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (215) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - 208,840 -
Company-obligated mandatorily redeemable
securities of subsidiaries holding - - -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - 208,840 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 118,054 -
Additional paid-in capital 343,559 315
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (32,987) (42)
Unrealized gain in equity securities-net - -
Retained earnings - (8,352) 49
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 420,274 322
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $364,357 $637,452 $357
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
427
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Fuel Transpor- Fuel Resources, Financial
tation, Inc. Inc. Marketing &
Trading Co.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - - $9,623
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - 2,044
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - - 11,667
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - (76)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - 2,690
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - 2,614
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings - - (5,162)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - - (5,162)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - $9,119
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
428
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Marketing & Holdings Co. Operation &
Trading, Inc. Consolidated Maintenance, Inc.
[4]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $52,936 ($33,292) ($17,919)
Accrued taxes - - -
Accrued interest - 18,433 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 5,551 38,740 6,122
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 58,487 23,881 (11,797)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 907,000 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (3,415) 28,926 (2,171)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 33,565 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (3,415) 62,491 (2,171)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - 960,441 13,946
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (1,118) 27,623 5,591
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (1,118) 988,064 19,537
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $53,954 $1,981,436 $5,569
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
429
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission El Dorado Energy EMP, Inc.
Project Co. Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $26 $31 ($8,230)
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 26 31 (8,230)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2) (1,512) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (2) (1,512) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 8,800
Additional paid-in capital 443,318 9,731 480
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings 16 (8,341) (1,050)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 443,334 1,390 $8,230
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $443,358 ($91) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
430
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Four Counties Gas Global Power Hanover Energy
Company (Inactive) Investors, Inc. Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $1 - $72
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1 - 72
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - 6,182
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - 6,182
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding - - -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 5 - 4,785
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (6) - (480)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($1) - 4,305
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - $10,559
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
431
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Holtsville Energy Indian Bay Energy Jefferson Energy
Company Company Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($169) ($38) ($23)
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (169) (38) (23)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 169 38 23
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 169 $38 $23
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 896 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings ($896) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
432
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Kings Canyon Kingspark Energy Laguna Energy
Energy Company Company Company (Inactive)
(Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $1 ($1,259) ($1,681)
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1 (1,259) (1,681)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - 1,016
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 1,259 688
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - $1,259 688
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 5 - 1,695
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (6) - (1,718)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($1) - ($23)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
433
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
La Jolla Energy Lakeview Energy Lehigh River
Company (Inactive) Company Energy Company
(Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $1 $1 $6
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1 1 6
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - (1,674)
Accumulated deferred investment
tax credits - - 6
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - (1,668)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 5 5 10,221
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (6) (6) (8,559)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($1) ($1) $1,662
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
434
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Longview Madera Energy Madison Energy
Cogeneration Company Company
Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $1 - $271
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1 - 271
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - ($4) 5,733
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (4) 5,733
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 5 13 22,227
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (6) (9) 845
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($1) $4 23,072
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - $29,076
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
435
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Midwest Generation Mission Capital LP Mission/Eagle
EME, LLC Energy Company
Consolidated (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($49,807) ($154,639) $1
Accrued taxes 9 - -
Accrued interest 6,185 - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 31,927 (1) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (11,686) (154,640) 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,679,000 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - 1
Accumulated deferred investment
tax credits 5,035 - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 260,874 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 265,909 - 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - 150,000 -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - 150,000 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 2,500,000 4,641 1
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (8,157) (1) (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,491,843 $4,640 ($2)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $4,425,066 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
436
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Mission Energy Mission Energy
Construction Generation, Inc. Holdings, Inc.
Services, Inc. (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $826 - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 826 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 693 - $282
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferr ed credits & other liabilities 693 - 282
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 3,807 - 6,267
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (13) - (1,072)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 3,794 - 5,195
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,313 - $5,477
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
437
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy EME UK Mission Energy
Holdings International LLC Indonesia
International Inc. (4) (Inactive)
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C>
Short-term debt - - -
Current portion of long-term debt $187,629 - -
Accounts payable 345,069 $26 $1
Accrued taxes 7,081 - -
Accrued interest 52,184 - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other -
current liabilities 148,957 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 740,920 26 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 3,044,725 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,223,658 (1) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 686,265 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 1,909,923 (1) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 137,603 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 133,131 - -
Additional paid-in capital 1,102,378 443,318 5
Accumulated other comprehensive income:
Cumulative translation adjustments - net 28,358 - -
Unrealized gain in equity securities-net - - -
Retained earnings 432,014 15 (6)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,695,881 443,333 ($1)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $7,529,052 $443,358 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
438
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Mission Energy New Mission Energy
Mexico (Inactive) York, Inc. Wales Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $1 $103,663 ($44,638)
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1 103,663 (44,638)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 20,878 155,979
Accumulated deferred investment
tax credits 5 - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 5 20,878 155,979
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 1,137 27,502 75,760
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (1,143) (62,000) 15,233
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($6) (34,498) 90,993
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $90,043 $202,334
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
439
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Operations Mission Triple North Jackson
de Mexico, S.A. de Cycle Systems Energy Company
C.V. Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - $1 -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 1 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (176) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (176) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - 176 $3
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - (1) ($3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - $175 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
440
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Northern Sierra Ortega Energy Panther Timber
Energy Company Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - - $7
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - - 7
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - (473)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - (473)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - $7 466
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - ($7) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - - $466
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
441
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Paradise Energy Pleasant Valley Prince George
Company (Inactive) Energy Company Energy Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($3,923) $126 $511
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (3,923) 126 511
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 3,982 940 3,853
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities 3,982 940 3,853
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - 3,158 12,882
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (59) (1,328) 1,482
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($59) 1,830 14,364
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $2,896 $18,728
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
442
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Quartz Peak Energy Rapidan Energy Reeves Bay Energy
Company Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $233 $229 -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 233 229 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 3,540 (1,159) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 3,540 (1,159) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 9,458 3,850 $672
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (134) (2,259) ($672)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 9,324 1,591 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $13,097 $661 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
443
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Ridgecrest Energy Rio Escondido Riverport Energy
Company Energy Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - ($4,435) ($52)
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - (4,435) (52)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net ($4) 81 52
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (4) 81 $52
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 13 1,357 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (9) 3,029 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity $4 4,386 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $32 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
444
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
San Gabriel Energy San Joaquin Energy San Juan Energy
Company (Inactive) Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $37,754 -
Accounts payable $256 (332,931) $592
Accrued taxes - - -
Accrued interest - 7,202 -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - 9 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 256 (287,966) 592
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 319,364 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 12 11,871 3,648
Accumulated deferred investment
tax credits - 2,589 -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 12 14,460 3,648
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 1,744 4,562 5,443
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (1,963) 11,353 9,295
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (219) 15,915 14,738
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $49 $61,773 $18,978
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
445
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
San Pedro Energy Santa Ana Energy Santa Clara Energy
Company Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net ($4) ($4) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities (4) (4) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 13 13 $7
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (9) (9) ($7)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity $4 $4 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
446
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Silverado Energy Silver Springs Sonoma Geothermal
Company Energy Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $972 $1 $129
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 1 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 973 1 129
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,206 - (184)
Accumulated deferred investment
tax credits - - 11
Customer advances and other deferred
credits - - 11
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 1,206 - (162)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 4,706 5 3,315
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings 2,072 (6) (3,282)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 6,778 ($1) $33
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $8,957 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
447
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
South Coast Energy Southern Sierra Thorofare Energy
Company Energy Company Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $37,754 -
Accounts payable $1,861 (342,773) ($23)
Accrued taxes - - -
Accrued interest - 7,202 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 2 12 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,863 (297,805) (23)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 319,364 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 3,088 7,957 26
Accumulated deferred investment
tax credits 621 4,071 -
Customer advances and other deferred
credits - - -
Other long-term liabilities - (601) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 3,709 11,427 26
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 6,948 7,930 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings 18,105 17,407 (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 25,053 25,337 ($3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $30,625 $58,323 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
448
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Viejo Energy Vista Energy Western Sierra
Company Company (Inactive) Energy Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $296 $37,754
Accounts payable $917 (830) (332,488)
Accrued taxes - - -
Accrued interest - - 7,202
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 1 666 23
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 918 132 (287,509)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - 319,364
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,606 1,045 13,884
Accumulated deferred investment
tax credits - - 3,698
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 1,606 1,045 17,582
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 8,553 1,154 9,264
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (253) (1,106) 19,651
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 8,300 48 28,915
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $10,824 $1,225 $78,352
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
449
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Consolidating Edison Mission
Energy Adjustments Energy Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $1,122,067 - $1,122,067
Current portion of long-term debt - ($151,016) 225,679
Accounts payable 129,427 1,049,855 57,740
Accrued taxes 4,984 37,638 12,927
Accrued interest 5,268 (28,808) 89,272
Dividends payable - - 659
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 26,980 (36) 264,503
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,288,726 907,633 1,772,847
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,488,203 (1,277,456) 7,439,308
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (92,142) 9,369 1,501,051
Accumulated deferred investment
tax credits (14) (5,618) 19,439
Customer advances and other deferred
credits 12 (2,713) -
Other long-term liabilities 264,775 3,291 1,248,169
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 172,631 4,329 2,768,659
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - (129,567) 8,036
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - 118,054 118,054
Subject to mandatory redemption - - 208,840
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - 150,000
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - 118,054 476,894
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 64,130 (259,985) 64,130
Additional paid-in capital 2,636,908 (6,158,864) 2,629,406
Accumulated other comprehensive income:
Cumulative translation adjustments - net 15,211 (33) 10,507
Unrealized gain in equity securities-net - - -
Retained earnings 359,064 (478,485) 364,434
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 3,075,313 (6,897,367) 3,068,477
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $6,024,873 ($7,274,372) $15,534,221
============================================================= ==================== ==================== ====================
</TABLE>
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Aguila Energy Anacapa Energy Arrowhead Energy
Company Company Company
(Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation ($1,233) $2,088 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (1,233) 2,088 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 120 1,308 -
Depreciation, decommissioning and
amortization - 68 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 120 1,376 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (1,353) 712 -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (1,353) 712 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (1,353) 712 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (438) 272 $1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (915) 440 (1)
Retained earnings - beginning of year (7,718) (1,032) 13
Dividends declared on common stock, other - (1) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($8,633) ($593) $12
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
451
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Balboa Energy Bergen Point Blue Ridge Energy
Company Energy Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $170 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 170 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 1,300 -
Depreciation, decommissioning and
amortization - 14 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 1,314 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - (1,144) -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (1,144) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (1,144) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes $1 (461) $1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1) (683) (1)
Retained earnings - beginning of year (9) (3,623) (8)
Dividends declared on common stock, other - 1 -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($10) ($4,305) ($9)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
452
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Bretton Woods Camino Energy Capistrano
Energy Company Company Cogeneration
Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $49,821 $8,547
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 49,821 8,547
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 1,360 1,300
Depreciation, decommissioning and
amortization - 575 8
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 1,935 1,308
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 47,886 7,239
Interest and dividend income - 20,877 230
Other nonoperating income (deductions)-net - (24) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 20,853 230
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 68,739 7,469
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 26,765 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 26,765 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - 41,974 7,469
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - 16,355 2,854
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - 25,619 4,615
Retained earnings - beginning of year $65 8,502 4,482
Dividends declared on common stock, other ($65) (15,310) (7,478)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - $18,811 $1,619
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
453
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Centerport Energy Chesapeake Bay Chester Energy
Company Energy Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - $1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - - (1)
Retained earnings - beginning of year $47 ($1,518) (141)
Dividends declared on common stock, other ($47) - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($1,518) ($142)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
454
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Clayville Energy Colonial Energy Coronado Energy
Company Company (Inactive) Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - - -
Retained earnings - beginning of year ($5) ($4) ($5)
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($5) ($4) ($5)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
455
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Del Mar Energy Delaware Energy Desert Sunrise
Company Conservers, Inc. Energy Company
(Inactive) (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $2,254 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,254 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 1,306 - -
Depreciation, decommissioning and
amortization 14 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,320 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 934 - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - $416
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - 416
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 934 - 416
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 934 - 416
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 370 - 165
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 564 - 251
Retained earnings - beginning of year 73 ($2) (4)
Dividends declared on common stock, other (3,114) - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($2,477) ($2) $247
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
456
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Devereaux Energy Eastern Sierra East Maine Energy
Company Energy Company Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation ($1,377) $5,186 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (1,377) 5,186 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 650 1,297 -
Depreciation, decommissioning and
amortization - 204 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 650 1,501 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (2,027) 3,685 -
Interest and dividend income 4 - -
Other nonoperating income (deductions)-net - 57 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 4 57 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (2,023) 3,742 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (2,023) 3,742 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (830) 1,496 $1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1,193) 2,246 (1)
Retained earnings - beginning of year (8,269) 3,143 (7)
Dividends declared on common stock, other - (1,857) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9,462) $3,532 ($8)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
457
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Alabama Edison Mission Edison Mission
Generating Company Energy Fuel Energy Fuel
Consolidated Services, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $26,285 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 26,285 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 2,600 $417
Depreciation, decommissioning and
amortization - 5,521 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 8,121 417
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 18,164 (417)
Interest and dividend income - 83 -
Other nonoperating income (deductions)-net - 5,990 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 6,073 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 24,237 (417)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - 24,237 (417)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (21,842) (165)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - 46,079 (252)
Retained earnings - beginning of year ($509) 5,107 -
Dividends declared on common stock, other $509 (8,687) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - $42,499 ($252)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
458
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Funding Energy Global Energy Interface
Corp. Management, Inc. Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $17,192 $17
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 17,192 17
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 266 -
Depreciation, decommissioning and
amortization - 7,272 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 7,538 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 9,654 17
Interest and dividend income $26,769 375 1
Other nonoperating income (deductions)-net - 35 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 26,769 410 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 26,769 10,064 18
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 26,769 3,759 -
Other interest expense - net - 4,307 -
Capitalized interest - - -
Dividends on preferred securities - 9,217 -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges $26,769 17,283 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (7,219) 18
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (3,168) 10
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - (4,051) 8
Retained earnings - beginning of year - - 41
Dividends declared on common stock, other - (4,301) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($8,352) $49
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
459
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Fuel Transpor- Fuel Resources, Financial
tation, Inc. Inc. Marketing &
Trading Co.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - $1,942
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - 1,942
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - 4,123
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - 4,123
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - (2,181)
Interest and dividend income - - 268
Other nonoperating income (deductions)-net - - (6,645)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - (6,377)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - (8,558)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - (8,558)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - (3,396)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - - (5,162)
Retained earnings - beginning of year - - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - - ($5,162)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
460
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Marketing & Holdings Co. Operation &
Trading, Inc. [4] Consolidated Maintenace, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $347,851 $325,798 $28,590
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 347,851 325,798 28,590
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 124,763 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 350,294 55,793 25,693
Depreciation, decommissioning and
amortization - 37,198 25
Property and other taxes - - 1
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 350,294 217,754 25,719
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (2,443) 108,044 2,871
Interest and dividend income 212 1,525 289
Other nonoperating income (deductions)-net 229 (2,181) (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 441 (656) 281
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (2,002) 107,388 3,152
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 50,817 -
Other interest expense - net - 9,562 -
Capitalized interest - (1,779) -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 58,600 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (2,002) 48,788 3,152
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (884) 21,160 1,255
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1,118) 27,628 1,897
Retained earnings - beginning of year - (3) 3,695
Dividends declared on common stock, other - (2) (1)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,118) $27,623 $5,591
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
461
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission El Dorado Energy EMP, Inc.
Project Co. Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $199 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 199 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 650 -
Depreciation, decommissioning and
amortization - 212 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 862 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - (663) -
Interest and dividend income $61 4 -
Other nonoperating income (deductions)-net - 146 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 61 150 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 61 (513) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 61 (513) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 45 (211) ($2,714)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 16 (302) 2,714
Retained earnings - beginning of year - (8,038) (3,765)
Dividends declared on common stock, other - (1) 1
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $16 ($8,341) ($1,050)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
462
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Four Counties Gas Global Power Hanover Energy
Company (Inactive) Investors, Inc. Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - $846
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - 846
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - 1,300
Depreciation, decommissioning and
amortization - - 126
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - 1,426
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - (580)
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - 7
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - 7
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - (573)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - (573)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes $1 - (215)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1) - (358)
Retained earnings - beginning of year (5) - 256
Dividends declared on common stock, other - - (378)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($6) - ($480)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
463
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Holtsville Energy Indian Bay Energy Jefferson Energy
Company Company Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - - -
Retained earnings - beginning of year ($896) $39 $188
Dividends declared on common stock, other - ($39) ($188)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($896) - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
464
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Kings Canyon Kingspark Energy Laguna Energy
Energy Company Company Company (Inactive)
(Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - $54
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - 54
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - (54)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes $1 - (22)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1) - (32)
Retained earnings - beginning of year (5) $243 (1,686)
Dividends declared on common stock, other - ($243) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($6) - ($1,718)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
465
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
La Jolla Energy Lakeview Energy Lehigh River
Company (Inactive) Company Energy Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes $1 $1 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1) (1) -
Retained earnings - beginning of year (5) (5) ($8,558)
Dividends declared on common stock, other - - (1)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($6) ($6) ($8,559)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
466
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Longview Madera Energy Madison Energy
Cogeneration Company Company
Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - $4,966
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - 4,966
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - 650
Depreciation, decommissioning and
amortization - - 132
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - 782
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - 4,184
Interest and dividend income - - 10
Other nonoperating income (deductions)-net - - (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - 7
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - 4,191
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - 4,191
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes $1 $1 1,671
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1) (1) 2,520
Retained earnings - beginning of year (5) (8) 136
Dividends declared on common stock, other - - (1,811)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($6) ($9) $845
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
467
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Midwest Generation Mission Capital LP Mission/Eagle
EME, LLC Energy Company
Consolidated (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $23,700 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 23,700 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 14,881 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 12,565 - -
Depreciation, decommissioning and
amortization 4,949 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 32,395 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (8,695) - -
Interest and dividend income 93 $13,953 -
Other nonoperating income (deductions)-net 98 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 191 13,953 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (8,504) 13,953 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 300 - -
Other interest expense - net 6,185 - -
Capitalized interest - - -
Dividends on preferred securities - 13,953 -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 6,485 13,953 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (14,989) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (6,832) - $1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (8,157) - (1)
Retained earnings - beginning of year - - (2)
Dividends declared on common stock, other - (1) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($8,157) ($1) ($3)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
468
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Mission Energy Mission Energy
Construction Holdings, Inc. Generation, Inc.
Services, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - $218 -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 218 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (218) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - (218) -
Retained earnings - beginning of year ($13) (854) -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($13) ($1,072) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
469
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy EME UK Mission Energy
Holdings International LLC Indonesia
International Inc. (4) (Inactive)
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C>
Electric utility - -
Unregulated power generation $1,009,791 -
Financial services and other - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,009,791 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 309,493 -
Purchased power - contracts - -
Purchased power - power exchange - -
Provisions for reg. adj. clauses - net - -
Other operation and maintenance 260,904 -
Depreciation, decommissioning and
amortization 124,068 -
Property and other taxes 320 -
Net loss (gain) on sale of utility plant - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 694,785 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 315,006 -
Interest and dividend income 9,434 $61
Other nonoperating income (deductions)-net 47,575 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 57,009 61
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 372,015 61
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 199,018 -
Other interest expense - net 2,178 -
Capitalized interest - -
Dividends on preferred securities - -
Dividends on utility preferred stock - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 201,196 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (35,260) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 135,559 61
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (5,967) 46 $1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 141,526 15 (1)
Retained earnings - beginning of year 290,488 - (5)
Dividends declared on common stock, other - -
Dividends declared on preferred stock - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $432,014 $15 ($6)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
470
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Mission Energy New Mission Energy
Mexico (Inactive) York, Inc. Wales Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - ($5,219) $34,153
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - (5,219) 34,153
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 2,402 -
Depreciation, decommissioning and
amortization - 1,267 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 3,669 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - (8,888) 34,153
Interest and dividend income - (15,209) 2,875
Other nonoperating income (deductions)-net - 9,968 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (5,241) 2,875
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (14,129) 37,028
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 1,966 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 1,966 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (16,095) 37,028
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes $1 (5,711) 18,832
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1) (10,384) 18,196
Retained earnings - beginning of year (1,142) (51,616) 28,448
Dividends declared on common stock, other - - (31,411)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,143) ($62,000) $15,233
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
471
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Operations Mission Triple North Jackson
de Mexico, S.A. de Cycle Systems Energy Company
C.V. Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - $1 $1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - (1) (1)
Retained earnings - beginning of year - 153 (2)
Dividends declared on common stock, other - (153) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($1) ($3)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
472
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Northern Sierra Ortega Energy Panther Timber
Energy Company Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and dividend income - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - - -
Retained earnings - beginning of year $133 ($7) $254
Dividends declared on common stock, other ($133) - ($254)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($7) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
473
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Paradise Energy Pleasant Valley Prince George
Company (Inactive) Energy Company Energy Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - ($12) $3,695
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - (12) 3,695
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 224 1,300
Depreciation, decommissioning and
amortization - - 614
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 224 1,914
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (236) 1,781
Interest and dividend income - - -
Other nonoperating income (deductions)-net - 3 42
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 3 42
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (233) 1,823
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (233) 1,823
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes $1 (99) 731
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1) (134) 1,092
Retained earnings - beginning of year (58) (1,195) 1,686
Dividends declared on common stock, other - 1 (1,296)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($59) ($1,328) $1,482
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
474
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Quartz Peak Energy Rapidan Energy Reeves Bay Energy
Company Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $1,509 $102 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,509 102 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 1,328 650 -
Depreciation, decommissioning and
amortization 61 4 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,389 654 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 120 (552) -
Interest and dividend income 88 -
Other nonoperating income (deductions)-net - 49 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 88 49 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 208 (503) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 208 (503) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 89 (207) $1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 119 (296) (1)
Retained earnings - beginning of year 86 (1,963) (671)
Dividends declared on common stock, other (339) - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($134) ($2,259) ($672)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
475
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Ridgecrest Energy Rio Escondido Riverport Energy
Company Energy Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - $1,427 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 1,427 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 1,427 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - 1,427 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes $1 (3,813) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1) 5,240 -
Retained earnings - beginning of year (8) (2,210) $74
Dividends declared on common stock, other - (1) ($74)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9) $3,029 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
476
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
San Gabriel Energy San Joaquin Energy San Juan Energy
Company (Inactive) Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation ($476) $14,784 $10,176
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (476) 14,784 10,176
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 1,339 1,332
Depreciation, decommissioning and
amortization - 30 90
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 1,369 1,422
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (476) 13,415 8,754
Interest and dividend income - 25,148 -
Other nonoperating income (deductions)-net - 51 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 25,199 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (476) 38,614 8,754
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 26,577 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 26,577 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (476) 12,037 8,754
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (192) 4,666 3,465
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (284) 7,371 5,289
Retained earnings - beginning of year (1,680) 4,981 7,488
Dividends declared on common stock, other 1 (999) (3,482)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,963) $11,353 $9,295
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
477
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
San Pedro Energy Santa Ana Energy Santa Clara Energy
Company Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes $1 $1 $1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1) (1) (1)
Retained earnings - beginning of year (8) (8) (6)
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9) ($9) ($7)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
478
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Silverado Energy Silver Springs Sonoma Geothermal
Company Energy Company Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $2,466 - ($1,927)
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,466 - (1,927)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 1,307 - 480
Depreciation, decommissioning and
amortization 50 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,357 - 480
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 1,109 - (2,407)
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - 1,920
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - 1,920
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 1,109 - (487)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 1,109 - (487)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 440 $1 909
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 669 (1) (1,396)
Retained earnings - beginning of year 1,517 (5) (1,886)
Dividends declared on common stock, other (114) - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $2,072 ($6) ($3,282)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
479
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
South Coast Energy Southern Sierra Thorofare Energy
Company Energy Company Company (Inactive)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $22,837 $31,170 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 22,837 31,170 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 1,302 1,353 -
Depreciation, decommissioning and
amortization 5 58 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,307 1,411 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 21,530 29,759 -
Interest and dividend income 55 24,317 -
Other nonoperating income (deductions)-net 59 (14) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 114 24,303 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 21,644 54,062 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 26,640 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 26,640 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 21,644 27,422 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 8,560 10,643 $1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 13,084 16,779 (1)
Retained earnings - beginning of year 7,958 6,628 (2)
Dividends declared on common stock, other (2,937) (6,000) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $18,105 $17,407 ($3)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
480
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Viejo Energy Vista Energy Western Sierra
Company Company (Inactive) Energy Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $1,628 - $36,740
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,628 - 36,740
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 1,309 - 1,375
Depreciation, decommissioning and
amortization 65 - 37
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,374 - 1,412
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 254 - 35,328
Interest and dividend income - $149 24,260
Other nonoperating income (deductions)-net - - (18)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 149 24,242
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 254 149 59,570
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - 26,688
Other interest expense - net - 40 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 40 26,688
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 254 109 32,882
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 96 17 12,875
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 158 92 20,007
Retained earnings - beginning of year (411) (1,198) 9,255
Dividends declared on common stock, other - - (9,611)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($253) ($1,106) $19,651
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
481
Edison Mission Energy and Subsidiaries [Tier 3]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Consolidating Edison Mission
Energy Adjustments Energy Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $9,596 ($383,404) $1,630,451
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 9,596 (383,404) 1,630,451
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - 449,137
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 181,201 (349,123) 571,675
Depreciation, decommissioning and
amortization 7,552 - 190,219
Property and other taxes 72 - 393
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 188,825 (349,123) 1,211,424
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (179,229) (34,281) 419,027
Interest and dividend income (3,176) (106,272) 27,911
Other nonoperating income (deductions)-net (36,469) 127 21,410
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (39,645) (106,145) 49,321
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (218,874) (140,365) 468,348
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 47,802 (100,472) 336,683
Other interest expense - net 27,406 (5,736) 43,942
Capitalized interest (25,692) - (27,471)
Dividends on preferred securities (1,013) - 22,375
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 48,503 (106,208) 375,529
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - 32,306 (2,954)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (267,377) (1,912) 89,865
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (100,171) 9,880 (40,412)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (167,206) (11,792) 130,277
Retained earnings - beginning of year 226,840 (266,891) 234,345
Dividends declared on common stock, other 299,430 (199,802) (188)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $359,064 ($478,485) $364,434
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
482
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: American Bituminous Power Salinas River Smithtown Cogeneration, LP
Partners, LP Cogeneration Company
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $76,420 $19,002 $4,976
Revenues $13,948 $9,492 -
Net Income (Loss) ($1,080) $1,889 -
Nature/Purpose of Business: To own an 80MW To own and operate a 38MW To own and operate power
cogeneration facility in cogeneration facility in production facilities.
Grant Town, WV. Monterey Co., CA.
Ownership Interest(s): 49.5% by Aguila Energy 50% by Anacapa Energy 50% by Balboa Energy
Company Company Company
0.5% by Pleasant Valley 50% by Kingspark Energy
Energy Co. Company
</TABLE>
<PAGE>
483
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: TEVCO/Mission Bayonne Cogen Technologies NJ Bretton Woods
Partnershp Ventures Cogeneration, LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $829 $363 $717
Revenues $140 $38 -
Net Income (Loss) $140 $18 -
Nature/Purpose of Business: To own a limited To own a 165 MW facility To own and operate power
partnership interest in known as the Bayonne production facilities.
the Cogen Technologies NJ Project.
Venture.
Ownership Interest(s): 50% by Bergen Point .375% by Bergen Point 50% by Blue Ridge Energy
Energy Company Energy Company Company
.75% by TEVCO/- Mission 50% by Bretton Woods
Bayonne Partnership Energy Company
</TABLE>
<PAGE>
484
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Watson Cogeneration James River Cogeneration Riverhead Cogeneration I,
Company Company LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $114,295 $33,082 $488
Revenues $118,223 $22,078 -
Net Income (Loss) $48,513 $8,578 -
Nature/Purpose of Business: To own and operate a To own and operate the To own and operate power
385MW cogeneration 110MW cogeneration production facilities.
facility at ARCO's LA facility in Hopewell,
Refinery in Carson, CA Chester County, VA.
Ownership Interest(s): 49% by Camino Energy 50% by Capistrano 50% by Centerport Energy
Company Cogeneration Company Company
50% by Ridgecrest Energy
Company
</TABLE>
<PAGE>
485
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Delaware Clean Energy Commonwealth Atlantic LP Oconee Energy, LP
Project
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - $56,500 -
Revenues - $14,691 -
Net Income (Loss) - $658 -
Nature/Purpose of Business: To own and operate power To own a 340MW power To own and operate power
production facilities. production facility in production facilities.
Chesapeake, VA.
Ownership Interest(s): 50% by Chesapeake Bay 50% by Chickahominy River 50% by Clayville Energy
Energy Company Energy Corp. Company
50% by Coronado Energy
Company
</TABLE>
<PAGE>
486
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Mid-Set Cogenera-tion Auburndale Power Saguaro Power Company, LP
Company Partners, LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $10,065 $71,631 $49,346
Revenues $9,719 $26,171 $25,529
Net Income (Loss) $2,142 ($1,466) $5,008
Nature/Purpose of Business: To own and operate a 38MW To own and operate a To own and operate a 90MW
cogeneration facility in 150MW power production cogeneration facility in
Kern Co., CA facility in Florida. Henderson, NV.
Ownership Interest(s): 50% by Del Mar Energy 49% by Devereaux Energy 50% by Eastern Sierra
Company Company Energy Co.
1% by El Dorado Energy
Company
</TABLE>
<PAGE>
487
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Mission Interface Four Star Oil & Gas Brookhaven Cogeneration LP
Partnership Company
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $363 $147,019 $2,588
Revenues - $78,759 -
Net Income (Loss) $17 $25,444 -
Nature/Purpose of Business: To own and operate power To own an interest in To own and operate power
production facilities. common stock of domestic production facilities.
oil & gas exploration and
production co.
Ownership Interest(s): 50% by Edison Mission 34.88% by Edison Mission 50% by Holtsville Energy
Energy Interface, Ltd Energy Oil & Gas Company
50% by Madera Energy
Company
</TABLE>
<PAGE>
488
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Riverhead Cogeneration Georgia Peaker, LP Gordonsville Energy, LP
III, LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $432 - $94,659
Revenues - - $19,642
Net Income (Loss) - - $5,182
Nature/Purpose of Business: To own and operate power To own and operate power To own and operate a
production facilities. production facilities. 240MW cogeneration
facility in Gordonsville,
VA.
Ownership Interest(s): 50% by Indian Bay Energy 50% by Lakeview Energy 49% by Madison Energy
Company Company Company
50% by Santa Ana Energy 50% by Silver Springs 1% by Rapidan Energy
Company Energy Company Company
</TABLE>
<PAGE>
489
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Brooklyn Navy Yard Triple Cycle Partnership Sobel Cogeneration Company
Cogeneration Partners, LP
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $243,669 - -
Revenues $64,122 - -
Net Income (Loss) ($14,823) - -
Nature/Purpose of Business: To own and operate a To own 25% interest in Currently is inactive.
286MW power production partnership that has
facility near the rights to a proprietary
Brooklyn Bridge, NY. technology.
Ownership Interest(s): 50% by Mission Energy New 50% by Mission Triple 50% by Northern Sierra
York, Inc. Cycle Systems Company Energy Company
</TABLE>
<PAGE>
490
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: American Kiln Partners, LP Hopewell Cogeneration, LP Hopewell Cogeneration,
Inc.
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets - $43,593 $423
Revenues - $15,289 $148
Net Income (Loss) - $3,724 $36
Nature/Purpose of Business: Currently is inactive. To own and operate a To own and operate a
356MW cogeneration 356MW cogeneration
facility in Chester Co., facility in Chester Co.,
VA. VA.
Ownership Interest(s): 2% by Panther Timber 24.75% by Prince George 25% by Prince George
Company Energy Co. Energy Co.
49.5% of 53% by Aguila 1% by Hopewell
Energy Company Cogeneration, Inc.
0.5% of 53% by Pleasant
Valley Energy Company
</TABLE>
<PAGE>
491
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Nevada Sun-Peak LP North Shore Energy, LP Northville Energy
Corporation
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $27,861 $1,729 -
Revenues $6,048 - -
Net Income (Loss) $1,580 - -
Nature/Purpose of Business: To own 50% of the 210MW To own and operate power To own and operate power
independent power production facilities. production facilities.
production plant near Las
Vegas, NV.
Ownership Interest(s): 50% by Quartz Peak Energy 50% by Reeves Bay Energy 100% by North Shore
Company Company Energy LP
50% by Santa Clara Energy
Company
</TABLE>
<PAGE>
492
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Riverhead Cogeneration Midway-Sunset March Point Cogeneration
II, LP Cogeneration Company Company
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $633 $61,898 $61,468
Revenues - $45,557 $38,441
Net Income (Loss) - $15,152 $9,877
Nature/Purpose of Business: To own and operate power To own and operate a To own and operate a
production facilities. 225MW cogeneration 140MW cogeneration
facility near Taft in facility in Anacortes, WA.
Kern County, CA.
Ownership Interest(s): 50% by Riverport Energy 50% by San Joaquin Energy 50% by San Juan Energy
Company Company Company
50% by San Pedro Energy
Company
</TABLE>
<PAGE>
493
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Coalinga Cogeneration Harbor Cogeneration Company Contact Energy
Company Limited
- ---------------------------------------- --------------------------- ----------------------------- -------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $16,256 $11,252 $522,647
Revenues $10,219 $5,636 $132,465
Net Income (Loss) $2,357 $3,045 $17,226
Nature/Purpose of Business: To own and operate a 38MW To own and operate a 80MW To own nine facilities
cogeneration facility in cogeneration facility at with 2,326MW in New
Fresno County, CA. Wilmington Oil Field in LA, Zealand and one
CA. minority interest
(16.7%)in a 300MW
facility in Australia.
Ownership Interest(s): 50% by Silverado Energy 30% by South Coast Energy 40% by Edison Mission
Company Company Energy Taupo Limited
</TABLE>
<PAGE>
494
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Kern River Cogeneration TM Star Fuel Company Sargent Canyon
Company Cogeneration Company
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $66,087 $1,365 $19,161
Revenues $85,593 $9,989 $9,019
Net Income (Loss) $30,906 $696 $1,646
Nature/Purpose of Business: To own and operate a To own a 50% interest in To own and operate a 38MW
300MW Kern River (Omar a domestic oil and gas cogeneration facility in
Hill) cogeneration exploration and Monterey Co, CA
facility at Texaco's Kern production company.
River Oil Field near
Bakersfield, CA.
Ownership Interest(s): 50% by Southern Sierra 50% by Southern Sierra 50% by Viejo Energy
Energy Company Gas Company Company
</TABLE>
<PAGE>
495
Edison Mission Energy [Tier 4]
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Sycamore Cogeneration
Company
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $81,009 - -
Revenues $92,867 - -
Net Income (Loss) $36,633 - -
Nature/Purpose of Business: To own and operate a - -
300MW cogeneration
facility at Texaco's Kern
River Oil Field near
Bakersfield, CA.
Ownership Interest(s): 50% by Western Sierra - -
Energy Co.
</TABLE>
<PAGE>
496
Edison Mission Energy Fuel and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Fuel Energy Oil & Gas Energy Petroleum
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $7 -
Receivables - net - (1) -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 6 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $69,938 49,045 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 69,938 49,045 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $69,938 $49,051 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
497
Edison Mission Energy Fuel and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Pocono Fuels Southern Sierra Consolidating
Company (Inactive) Gas Company Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - $128 ($69,938)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 128 (69,938)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $128 ($69,938)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
498
Edison Mission Energy Fuel and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission
Energy Fuel
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $7 - -
Receivables - net (1) - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 6 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 49,173 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 49,173
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $49,179 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
499
Edison Mission Energy Fuel and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Fuel Energy Oil & Gas Energy Petroleum
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - ($37,367) -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - 757 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - (36,610) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net $2,291 15,860 $5
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 2,291 15,860 5
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 21,568 27,124 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 46,079 42,677 (5)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 67,647 69,801 ($5)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $69,938 $49,051 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
500
Edison Mission Energy Fuel and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Pocono Fuels Southern Sierra Consolidating
Company (Inactive) Gas Company Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($562) $291 -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (562) 291 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 563 9 ($2,291)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 563 9 (2,291)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - - (21,568)
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (1) (172) (46,079)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity ($1) (172) (67,647)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $128 ($69,938)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
501
Edison Mission Energy Fuel and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission
Energy Fuel
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($37,638) - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities 757 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (36,881) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 16,437 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 16,437 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 27,124
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 42,499 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 69,623 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $49,179 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
502
Edison Mission Energy Fuel and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Fuel Energy Oil & Gas Energy Petroleum
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $25,597 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 25,597 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 1,300 -
Depreciation, decommissioning and
amortization - 5,521 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 6,821 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 18,776 -
Interest and dividend income - 83 -
Other nonoperating income (deductions)-net - 5,990 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 6,073 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 24,849 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - 24,849 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (21,600) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 46,449
Retained earnings - beginning of year $36,910 3,920 ($5)
Dividends declared on common stock, other 9,169 (7,692) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $46,079 $42,677 ($5)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
503
Edison Mission Energy Fuel and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Pocono Fuels Southern Sierra Consolidating
Company (Inactive) Gas Company Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $688 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 688 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 1,300 -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 1,300 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - (612) -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (612) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (612) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (242) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (370)
Retained earnings - beginning of year $541 651 ($36,910)
Dividends declared on common stock, other (542) (453) (9,169)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1) ($172) ($46,079)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
504
Edison Mission Energy Fuel and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission
Energy Fuel
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $26,285 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 26,285 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 2,600 - -
Depreciation, decommissioning and
amortization 5,521 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 8,121 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 18,164 - -
Interest and dividend income 83 - -
Other nonoperating income (deductions)-net 5,990 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 6,073 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 24,237 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 24,237 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (21,842) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 46,079
Retained earnings - beginning of year 5,107 - -
Dividends declared on common stock, other (8,687) - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $42,499 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
505
Edison Mission Global Management, Inc. and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Majestic Energy EME Royale Limited
Energy Global Limited [5]
Management, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $3 - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 3 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 443,892 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 443,892
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $443,895 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
506
Edison Mission Global Management, Inc. and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Consolidating Edison Mission
Energy Taupo Adjustments Energy Global
Limited [6] Management, Inc.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $8,735 - $8,738
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 8,735 - 8,738
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 629,582 ($456,701) 616,773
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 629,582 (456,701) 616,773
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 7,009 4,932 11,941
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 7,009 4,932 11,941
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $645,326 ($451,769) $637,452
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
507
Edison Mission Global Management, Inc. and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Majestic Energy EME Royale Limited
Energy Global Limited [5]
Management, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable ($13,277) - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable 612 - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities 1,434 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (11,231) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (270) - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (207) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 118,504 - -
Additional paid-in capital 343,559
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (6,217) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 455,396 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $443,895 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
508
Edison Mission Global Management, Inc. and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Consolidating Edison Mission
Energy Taupo Adjustments Energy Global
Limited [6] Management, Inc.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $17,613 - $4,336
Accrued taxes 863 - 863
Accrued interest - - -
Dividends payable 47 - 659
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities 1,261 - 2,695
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 19,784 - 8,553
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - $55 (215)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 55 (215)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption 208,840 - 208,840
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries 208,840 - 208,840
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 454,613 (454,613) 118,054
Additional paid-in capital - - 343,559
Accumulated other comprehensive income:
Cumulative translation adjustments - net (25,026) (7,961) (32,987)
Unrealized gain in equity securities-net - - -
Retained earnings (12,885) 10,750 (8,352)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 416,702 (451,824) 420,274
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $645,326 ($451,769) $637,452
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
509
Edison Mission Global Management, Inc. and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Majestic Energy EME Royale Limited
Energy Global Limited [5]
Management, Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income $281 - -
Other nonoperating income (deductions)-net 110 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 391 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 391 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities 4,458 - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 4,458 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (4,067) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (2,151) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1,916) - -
Retained earnings - beginning of year - - -
Dividends declared on common stock, other 4,301 - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($6,217) - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
510
Edison Mission Global Management, Inc. and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Consolidating Edison Mission
Energy Taupo Adjustments Energy Global
Limited [6] Management, Inc.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $17,192 - $17,192
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 17,192 - 17,192
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 266 - 266
Depreciation, decommissioning and
amortization 7,408 ($136) 7,272
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 7,674 (136) 7,538
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 9,518 136 9,654
Interest and dividend income 94 - 375
Other nonoperating income (deductions)-net (75) - 35
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 19 - 410
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 9,537 - 10,064
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 3,759 - 3,759
Other interest expense - net 4,307 - 4,307
Capitalized interest - - -
Dividends on preferred securities 4,759 - 9,217
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 12,825 - 17,283
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (3,288) 136 (7,219)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (1,125) 108 (3,168)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (2,163) 28 (4,051)
Retained earnings - beginning of year - - -
Dividends declared on common stock, other (10,722) 10,722 (4,301)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $12,885 $10,750 $8,352
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
511
Edison Mission Holdings Co. and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Chestnut Ridge Homer City Mission Energy
Energy Company Property Holdings, Westside, Inc.
Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - $397 -
Nuclear deco mmissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $196,580 - $1,986
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 196,580 397 1,986
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $196,580 $397 $1,986
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
512
Edison Mission Holdings Co. and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Homer City Edison Mission Edison Mission
Generation LP [5] Finance Co. Holdings Co.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $44,454 - $56
Receivables - net 114 - -
Fuel inventory 20,837 - -
Materials and supplies, at average cost 26,130 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 1,187 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 92,722 - 56
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,876,495 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 1,015,762
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,876,495 - 1,015,762
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 11,766 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 11,766 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,980,983 - $1,015,818
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
513
Edison Mission Holdings Co. and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Mission
Adjustments Holdings Co.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $44,510 -
Receivables - net - 114 -
Fuel inventory - 20,837 -
Materials and supplies, at average cost - 26,130 -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 1,187 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 92,778 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 1,876,892 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries ($1,214,328) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (1,214,328) 1,876,892
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 11,766 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 11,766 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($1,214,328) $1,981,436 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
514
Edison Mission Holdings Co. and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Chestnut Ridge Homer City Mission Energy
Energy Company Property Holdings, Westside, Inc.
Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $107 $103 $107
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 107 103 107
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 5 5 5
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 5 5 5
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 198,794 400 2,012
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (2,326) (111) (138)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 196,468 289 1,874
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $196,580 $397 $1,986
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
515
Edison Mission Holdings Co. and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Homer City Edison Mission Edison Mission
Generation LP [5] Finance Co. Holdings Co.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $1,679,964 ($813,658) ($899,915)
Accrued taxes - - -
Accrued interest - - 18,433
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 38,740 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,718,704 (813,658) (881,482)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - 907,000
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 30,149 (1,236) (2)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 33,565 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 63,714 (1,236) (2)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 200,801 784,731 960,438
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (2,236) 30,163 29,864
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 198,565 $814,894 990,302
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,980,983 - $1,015,818
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
516
Edison Mission Holdings Co. and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Mission
Adjustments Holdings Co.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - ($33,292) -
Accrued taxes - - -
Accrued interest - 18,433 -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - 38,740 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 23,881 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 907,000 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 28,926 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 33,565 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits and other liabilities - 62,491 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital (1,186,735) 960,441
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (27,593) 27,623 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (1,214,328) 988,064 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($1,214,328) $1,981,436 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
517
Edison Mission Holdings Co. and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Chestnut Ridge Homer City Mission Energy
Energy Company Property Holdings, Westside, Inc.
Inc.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $184 $184 $184
Depreciation, decommissioning and
amortization - 3 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 184 187 184
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (184) (187) (184)
Interest and dividend income - - -
Other nonoperating income (deductions)-net (1) 4 (1)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (1) 4 (1)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (185) (183) (185)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (185) (183) (185)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (73) (72) (73)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (112) (111) (112)
Retained earnings - beginning of year - (3) -
Dividends declared on common stock, other (2,214) 3 (26)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($2,326) ($111) ($138)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
518
Edison Mission Holdings Co. and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Homer City Edison Mission Edison Mission
Generation LP [5] Finance Co. Holdings Co.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $325,798 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 325,798 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 124,763 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 54,801 $223 $217
Depreciation, decommissioning and
amortization 37,195 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 216,759 223 217
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 109,039 (223) (217)
Interest and dividend income (102,309) 50,160 53,674
Other nonoperating income (deductions)-net (2,155) - (28)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (104,464) 50,160 53,646
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 4,575 49,937 53,429
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 7,010 - 43,807
Other interest expense - net - - 9,562
Capitalized interest (1,779) - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 5,231 - 53,369
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (656) 49,937 60
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 1,580 19,774 24
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (2,236) 30,163 36
Retained earnings - beginning of year - - -
Dividends declared on common stock, other - - 29,828
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($2,236) $30,163 $29,864
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
519
Edison Mission Holdings Co. and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Mission
Adjustments Holdings Co.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $325,798 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 325,798 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 124,763 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 55,793 -
Depreciation, decommissioning and
amortization - 37,198 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 217,754 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 108,044 -
Interest and dividend income - 1,525 -
Other nonoperating income (deductions)-net - (2,181) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (656) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 107,388 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 50,817 -
Other interest expense - net - 9,562 -
Capitalized interest - (1,779) -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 58,600 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - 48,788 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - 21,160 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 27,628
Retained earnings - beginning of year - (3) -
Dividends declared on common stock, other ($27,593) (2) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($27,593) $27,623 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
520
Hanover Energy Company and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Chickahominy River Hanover Energy Consolidating
Energy Corp. Company Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $15 - -
Receivables - net 22 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 37 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 10,522 $4,305 ($4,305)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 10,522 4,305 (4,305)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $10,559 $4,305 ($4,305)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
521
Hanover Energy Company and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Hanover Energy
Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $15 - -
Receivables - net 22 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 37 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 10,522 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 10,522
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $10,559 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
522
Hanover Energy Company and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Chickahominy River Hanover Energy Consolidating
Energy Corp. Company Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable $72 - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 72 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 6,182 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 6,182 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 4,785 $4,460 ($4,460)
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (480) (155) 155
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 4,305 4,305 (4,305)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $10,559 $4,305 ($4,305)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
523
Hanover Energy Company and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Hanover Energy
Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable $72 - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 72 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 6,182 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 6,182 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 4,785
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (480) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 4,305 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $10,559 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
524
Hanover Energy Company and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Chickahominy River Hanover Energy Consolidating
Energy Corp. Company Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $846 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 846 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 1,300 - -
Depreciation, decommissioning and
amortization 126 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,426 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (580) - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net 7 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 7 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (573) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (573) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (215) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (358)
Retained earnings - beginning of year 256 $581 ($581)
Dividends declared on common stock, other (378) (426) 426
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($480) $155 ($155)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
525
Hanover Energy Company and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Hanover Energy
Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $846 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 846 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 1,300 - -
Depreciation, decommissioning and
amortization 126 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,426 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (580) - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net 7 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 7 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (573) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (573) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (215) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (358)
Retained earnings - beginning of year 256 - -
Dividends declared on common stock, other (378) - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($480) - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
526
Midwest Generation EME, LLC and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Midwest Generation Collins Holdings Edison Mission
EME, LLC EME, LLC Midwest Holdings
Co.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $12 - $41,608
Receivables - net - - 94
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 6 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 18 - 41,702
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 3,273 - 6,392
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 2,495,882 - 4,068,764
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 2,499,155 4,075,156
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 28,740
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 28,740
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,499,173 - $4,145,598
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
527
Midwest Generation EME, LLC and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Midwest Generation
Overseas Co. [5] Overseas Ltd. [6] LLC [5]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - $72
Receivables - net - - -
Fuel inventory - - 74,991
Materials and supplies, at average cost - - 14,166
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - $4 799
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 4 90,028
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 4,254,909
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $12 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 12 4,254,909
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $12 $4 $4,344,937
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
528
Midwest Generation EME, LLC and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Midwest Generation
Adjustments EME, LLC
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $41,692 -
Receivables - net - 94 -
Fuel inventory - 74,991 -
Materials and supplies, at average cost - 14,166 -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 809 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 131,752 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 4,264,574 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries ($6,564,658) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (6,564,658) 4,264,574
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 28,740 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 28,740 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($6,564,658) $4,425,066 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
529
Midwest Generation EME, LLC and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Midwest Generation Collins Holdings Edison Mission
EME, LLC EME, LLC Midwest Holdings
Co.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt -
Accounts payable $3,900 ($2,083) ($32,403)
Accrued taxes - - -
Accrued interest - - 6,185
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities 174 2,083 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4,074 - (26,218)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - 1,679,000
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - 169
Accumulated deferred investment
tax credits 33 - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 33 - 169
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 2,500,000 - 2,500,000
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (4,934) - (7,353)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,495,066 - 2,492,647
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,499,173 - $4,145,598
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
530
Midwest Generation EME, LLC and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Midwest Generation
Overseas Co. [5] Overseas Ltd. [6] LLC [5]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable ($3,429,027) ($20) $3,409,826
Accrued taxes - 9 -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - 3 29,667
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (3,429,027) (8) 3,439,493
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (301) - 5,134
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (301) - 5,134
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 3,421,999 650,000
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings 7,341 12 (10,564)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 3,429,340 12 639,436
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $12 $4 $4,344,937
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
531
Midwest Generation EME, LLC and Subsidiaries [Tier 4]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Midwest Generation
Adjustments EME, LLC
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable - ($49,807) -
Accrued taxes - 9 -
Accrued interest - 6,185 -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - 31,927 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - (11,686) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 1,679,000 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 260,874 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 5,035 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital ($6,571,999) 2,500,000
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 7,341 (8,157) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (6,564,658) 2,491,843 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($6,564,658) $4,425,066 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
532
Midwest Generation EME, LLC and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Midwest Generation Collins Holdings Edison Mission
EME, LLC EME, LLC Midwest Holdings
Co.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $1,350 $2,083 $27
Depreciation, decommissioning and
amortization - - 400
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,350 2,083 427
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (1,350) (2,083) (427)
Interest and dividend income (1) - 94
Other nonoperating income (deductions)-net - 2,083 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (1) 2,083 94
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (1,351) - (333)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - 300
Other interest expense - net - - 6,185
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - 6,485
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (1,351) - (6,818)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (535) - (2,700)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (816) (4,118)
Retained earnings - beginning of year - - -
Dividends declared on common stock, other (4,118) - (3,235)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($4,934) - ($7,353)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
533
Midwest Generation EME, LLC and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Midwest Generation
Overseas Co. [5] Overseas Ltd. [6] LLC [5]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - $23,700
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - 23,700
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - 14,881
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - $85 11,103
Depreciation, decommissioning and
amortization - - 4,549
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 85 30,533
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - (85) (6,833)
Interest and dividend income $12,143 - (12,143)
Other nonoperating income (deductions)-net - 99 (1)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 12,143 99 (12,144)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 12,143 14 (18,977)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 12,143 14 (18,977)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 4,814 2 (8,413)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 7,329 12 (10,564)
Retained earnings - beginning of year - -
Dividends declared on common stock, other 12 - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $7,341 $12 ($10,564)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
534
Midwest Generation EME, LLC and Subsidiaries [Tier 4]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Midwest Generation
Adjustments EME, LLC
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $23,700 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 23,700 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 14,881 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance ($2,083) 12,565 -
Depreciation, decommissioning and
amortization - 4,949 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (2,083) 32,395 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 2,083 (8,695) -
Interest and dividend income - 93 -
Other nonoperating income (deductions)-net (2,083) 98 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (2,083) 191 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (8,504) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 300 -
Other interest expense - net - 6,185 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 6,485 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (14,989) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (6,832) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (8,157)
Retained earnings - beginning of year - - -
Dividends declared on common stock, other 7,341 - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $7,341 ($8,157) -
============================================================= ==================== ==================== ====================
</TABLE>
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Adelaide Beheer-en Valley Peakers Pty
Ventures Ltd. Beleggingsmaat Ltd [6]
schappij Botara
B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $17 -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 17 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $17 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
536
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Asia Pte Energy Energy Services
Ltd. Consolidated International B.V.
B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $2,861 $17 $14
Receivables - net 16,122 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 1,614 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 20,597 17 14
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,943 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 241,842 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 243,785 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation -
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 183 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 183 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $264,565 $17 $14
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
537
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission EME Caliraya B.V.
Operations &
Maintenance
Services B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $335 - $17
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 335 - 17
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 2 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $337 - $17
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
538
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Kayalaan B.V. EME Tri Gen B.V. EME Victoria B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $220 $12 $1
Receivables - net - 2 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 220 14 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 1,501 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 1,501 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $220 $1,515 $1
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
539
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Global Generation Hydro Energy B.V. Iberian
B.V. Consolidated Consolidated Hy-Power Amsterdam
B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $132,402 $5,655 $5,875
Receivables - net 99,562 7,029 7,108
Fuel inventory 106,966 - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 13,059 643 643
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 351,988 13,327 13,626
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 3,056,890 100,845 119,255
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - (2,796) -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 3,056,890 98,049 119,255
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 40,570 1,836 6,025
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 40,570 1,836 6,025
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $3,449,448 $113,212 $138,906
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
540
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Latrobe Power Pty. Loy Yang Holdings MEC Esenyurt B.V.
Ltd. Consolidated Pty Ltd. Consolidated
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $27,805 $2,105 $10,620
Receivables - net 12,077 22 13,062
Fuel inventory 9,368 - 2,973
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 1,436 173 1,256
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 50,686 2,300 27,911
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,291,111 8,545 145,939
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 3,268 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,291,111 11,813 145,939
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 16,345 59 17,352
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 16,345 59 17,352
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,358,142 $14,172 $191,202
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
541
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC IES B.V. ISAB Energy MEC India B.V.
Services s.r.l. [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $97 - $18
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 97 - 18
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (83) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (83) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $14 - $18
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
542
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission MEC Indo Coal B.V. MEC Indonesia B.V.
Energy Power [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $294 $22
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 294 22
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 23,832 127,057
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 23,832 127,057
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 23 978
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 23 978
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $24,149 $128,057
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
543
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC International MEC Laguna Power Gulf Power
Holdings B.V. B.V. Generation Co.
Consolidated Ltd. [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $34 - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 34 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 5,295 $4,268 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,295 4,268
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 43 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 43 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,329 $4,311 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
544
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Perth B.V. MEC Priolo B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $5,929 - $30
Receivables - net 2,416 - -
Fuel inventory 1,809 - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 203 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 10,357 - 30
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 77,229 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 18,843
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 77,229 - 18,843
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 2,668 - 111
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2,668 - 111
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $90,254 - $18,984
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
545
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC San Pascual MEC Sidi Krir B.V. MEC Sumatra B.V.
B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $17 $16
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 17 16
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $4,590 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 4,590
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 45 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 45 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $4,635 $17 $16
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
546
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Wales B.V. Mission Energy Mission Energy
Consolidated Company (UK) Italia s.r.l.
Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $24,244 $72,573 $134
Receivables - net 44,834 7,778 247
Fuel inventory - - -
Materials and supplies, at average cost 1,625 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 21,135 2,363 147
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 91,838 82,714 528
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,036,216 169,704 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (25,049) 12,782 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,011,167 182,486 197
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 321,613 2,424 18
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 321,613 2,424 18
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,424,618 $267,624 $743
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
547
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Pride Hold Limited Rillington EcoElectrica
Consolidated Holdings Limited S.a.r.l.
(Inactive) Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $12,421 - $1,336
Receivables - net 6,754 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (190) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 18,985 - 1,336
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 144,913 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 223,345
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 144,913 223,345
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 3,525 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 3,525 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $167,423 - $224,681
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
548
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Southwestern Traralgon Power MEC International
Generation B.V. Pty. Ltd. B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $14 - $6,723
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 69
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 14 - 6,792
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 2,315
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - $84,936 1,785,031
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 84,936 1,787,346
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 125
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 125
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $14 $84,936 $1,794,263
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
549
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating MEC
Adjustments International
B.V. Consolidated
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
ASSETS
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
<S> <C> <C> <C>
Cash and equivalents ($18,014) $293,844 -
Receivables - net (13,776) 203,237 -
Fuel inventory - 95,399 -
Materials and supplies, at average cost - 27,341 -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (16,563) 25,988 -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Total current assets (48,353) 645,809 -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Nonutility property - net (240,138) 5,914,964 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (1,948,969) 559,693 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Total investment and other assets (2,189,107) 6,474,657 -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Total utility plant - - -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges (5,359) 408,586 -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Total deferred charges (5,359) 408,586 -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Total assets ($2,242,819) $7,529,052 -
============================================================= ====================== ================== ====================
</TABLE>
<PAGE>
550
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Adelaide Ventures Beheer-en Valley Power Pty
Ltd. Beleggingsmaat Ltd [6]
schappi Botara
B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - $7 -
Accrued taxes - (4) -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 3 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 22 -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - (8) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 14 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $17 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
551
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Asia Pte Energy Energy Services
Ltd Consolidated International B.V. B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($5,251) ($252) $9
Accrued taxes 3,556 - (5)
Accrued interest - 14 -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,695) (238) 4
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,367 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 551 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 1,918 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 231,489 26 19
Additional paid-in capital 2,985 208 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (474) - -
Unrealized gain in equity securities-net - - -
Retained earnings 30,342 21 (9)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 264,342 255 10
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $264,565 $17 $14
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
552
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission EME Caliraya B.V.
Operation &
Maintenance
Services B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $12 - $3
Accrued taxes (5) - (3)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 7 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 4 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 4 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 19 - 24
Additional paid-in capital 309 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (2) - (7)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 326 - 17
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $337 - $17
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
553
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Kayalaan B.V. EME Tri Gen B.V. EME Victoria B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $3 $10 $16
Accrued taxes (3) (5) (13)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 5 3
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 24 17 21
Additional paid-in capital 202 1,503 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (6) (10) (23)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 220 1,510 (2)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $220 $1,515 $1
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
554
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Global Generation Hydro Energy B.V. Iberian
B.V. Consolidated Consolidated Hy-Power Amsterdam
B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $118,349 ($2,824) $7,724
Accounts payable 162,653 3,072 3,526
Accrued taxes 39,734 1,178 599
Accrued interest 3,436 1,868 2,032
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 324,172 3,294 13,881
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 1,674,967 126,294 108,208
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 862,337 8,713 8,713
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 108,338 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 970,675 8,713 8,713
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 536 536
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 40 25 -
Additional paid-in capital 443,340 8,746 9,711
Accumulated other comprehensive income:
Cumulative translation adjustments - net 22,944 (35,242) (4,004)
Unrealized gain in equity securities-net - -
Retained earnings 13,310 846 1,861
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 479,634 (25,625) 7,568
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $3,449,448 $113,212 $138,906
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
555
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Latrobe Power Pty. Loy Yang Holdings MEC Esenyurt B.V.
Ltd. Consolidated Pty Ltd. Consolidated
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $21,549 $50 $11,547
Accounts payable (391,752) (15,411) 16,782
Accrued taxes - (76) 983
Accrued interest 16,535 - 93
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (353,668) (15,437) 29,405
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 940,453 3,092 114,144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 17,043 1,857 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 508,826 322 4,129
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 525,869 2,179 4,129
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 111,897 - 254
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 75
Additional paid-in capital 78,353 - 45,756
Accumulated other comprehensive income:
Cumulative translation adjustments - net (53,758) (927) (3,511)
Unrealized gain in equity securities-net - -
Retained earnings 108,996 25,265 950
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 133,591 24,338 43,270
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,358,142 $14,172 $191,202
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
556
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC IES B.V. ISAB Energy MEC India B.V.
Services s.r.l. [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $203 - $32
Accrued taxes (106) - (12)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 97 - 20
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 25 - 23
Additional paid-in capital 93 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net -
Retained earnings (201) - (25)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (83) - (2)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $14 - $18
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
557
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission MEC Indo Coal B.V. MEC Indonesia B.V.
Energy Power [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - $10 $16
Accrued taxes - 60 (57)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 70 (41)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 3,037 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 3,037 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 22 21
Additional paid-in capital 15,827 126,849
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings - 5,193 1,228
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 21,042 128,098
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $24,149 $128,057
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
558
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC International MEC Laguna Power Gulf Power
Holdings B.V. B.V. Generation Co.
Consolidated Ltd. [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $27 $67 -
Accrued taxes (14) (11) -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 13 56 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 21 23 -
Additional paid-in capital 4,781 4,252
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings 514 (20) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 5,316 4,255 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,329 $4,311 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
559
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Perth B.V. MEC Priolo B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $3,709 - -
Accounts payable (28,921) - ($1,312)
Accrued taxes - - 159
Accrued interest 3,097 - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (22,115) - (1,153)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 82,719 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 11,040 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 9,743 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 20,783 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 372 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23 - 21
Additional paid-in capital - - 20,457
Accumulated other comprehensive income:
Cumulative translation adjustments - net (3,709) - 188
Unrealized gain in equity securities-net - - -
Retained earnings 12,181 - (529)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 8,495 - 20,137
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $90,254 - $18,984
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
560
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC San Pascual MEC Sidi Krir B.V. MEC Sumatra B.V.
B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $57 $23 $24
Accrued taxes (11) (9) (10)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 46 14 14
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23 26 26
Additional paid-in capital 4,590 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings (24) (23) (24)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 4,589 3 2
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $4,635 $17 $16
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
561
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Wales B.V. Mission Energy Mission Energy
Consolidated Company (UK) Italia s.r.l.
Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $21,996 -
Accounts payable ($190,629) (11,372) $343
Accrued taxes (1,633) 1,406 127
Accrued interest 9,722 2,111 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (182,540) 14,141 470
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 674,234 129,274 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 262,402 32,035 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 30,680 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 293,082 32,035 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 106,060 511 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 276,698 22,751 13
Additional paid-in capital - 11,620 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (43,356) 3,218 2
Unrealized gain in equity securities-net - -
Retained earnings 300,440 54,074 258
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 533,782 91,663 273
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,424,618 $267,624 $743
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
562
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Pride Hold Limited Rillington EcoElectrica
Consolidated Holdings Limited S.a.r.l.
(Inactive) Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $21,996 - -
Accounts payable (36,858) - $55
Accrued taxes (105) - 102
Accrued interest 2,111 - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (12,856) - 157
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 98,424 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 31,907 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 31,907 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 15
Additional paid-in capital 161 224,330
Accumulated other comprehensive income:
Cumulative translation adjustments - net 1,822 - -
Unrealized gain in equity securities-net - - -
Retained earnings 47,965 - 179
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 49,948 - 224,524
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $167,423 - $224,681
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
563
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Southwestern Traralgon Power MEC International
Generation B.V. Pty. Ltd B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - $2,705
Accounts payable $5 ($11,153) 535,255
Accrued taxes (5) - (13,751)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - (11,153) 524,209
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 133,068 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (6,883) (55)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (6,883) (55)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 21 - 133,131
Additional paid-in capital - - 1,102,378
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (20,198) 53,762
Unrealized gain in equity securities-net - -
Retained earnings (7) (9,898) (19,162)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 14 (30,096) 1,270,109
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $14 $84,936 $1,794,263
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
564
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating MEC International
Adjustments B.V. Consolidated
- ------------------------------------------------------------- --------------------- ------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- --------------------- ------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt ($19,172) $187,629 -
Accounts payable 315,770 345,069 -
Accrued taxes (24,985) 7,081 -
Accrued interest 11,165 52,184 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 148,957 148,957 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Total current liabilities 431,735 740,920 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Long-term debt (1,040,152) 3,044,725 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Accumulated deferred income taxes - net (9,859) 1,223,658 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 23,676 686,265 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Total deferred credits & other liabilities 13,817 1,909,923 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Minority Interest (82,563) 137,603 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Common stock (531,553) 133,131 -
Additional paid-in capital (1,004,073) 1,102,378
Accumulated other comprehensive income:
Cumulative translation adjustments - net 111,601 28,358 -
Unrealized gain in equity securities-net - -
Retained earnings (141,631) 432,014 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Total common shareholders' equity (1,565,656) 1,695,881 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Total liabilities and shareholders' equity ($2,242,819) $7,529,052 -
============================================================= ===================== =================== ====================
</TABLE>
<PAGE>
565
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Adelaide Ventures Beheer-en Valley Power Pty
Ltd. Beleggingsmaat Ltd [6]
schappij Botara
B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - ($12) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (12) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (12) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (12) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (4) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - (8) -
Retained earnings - beginning of year - - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($8) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
566
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Asia Pte Energy Energy Services
Ltd. Consolidated International B.V. B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $22,426 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 22,426 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 19,627 - -
Depreciation, decommissioning and
amortization 673 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 20,300 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 2,126 - -
Interest and dividend income 7,157 - -
Other nonoperating income (deductions)-net 17,242 ($4) ($8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 24,399 (4) (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 26,525 (4) (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt (54) - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges (54) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 26,579 (4) (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 3,504 (2) (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 23,075 (2) (5)
Retained earnings - beginning of year 7,267 23 (4)
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $30,342 $21 ($9)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
567
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission EME Caliraya B.V.
Operation &
Maintenance
Services B.V.
Consolidated
- --------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $1 - -
Depreciation, decommissioning and
amortization - - $5
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1 - 5
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (1) - (5)
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - (6)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - (6)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (1) - (11)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (1) - (11)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - (4)
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1) - (7)
Retained earnings - beginning of year (2) - -
Dividends declared on common stock, other 1 - -
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($2) - ($7)
=============================================================== ==================== ==================== ====================
</TABLE>
<PAGE>
568
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Kayalaan B.V. EME Tri Gen B.V. EME Victoria B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization $5 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 5 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (5) - -
Interest and dividend income - $2 -
Other nonoperating income (deductions)-net (4) (8) ($6)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (4) (6) (6)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (9) (6) (6)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (9) (6) (6)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (3) (2) (2)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (6) (4) (4)
Retained earnings - beginning of year - (6) (19)
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($6) ($10) ($23)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
569
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Global Generation Hydro Energy B.V. Iberian
B.V. Consolidated Consolidated Hy-Power Amsterdam
B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $315,213 $22,409 $22,409
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 315,213 22,409 22,409
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 117,945 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 90,873 4,033 4,038
Depreciation, decommissioning and
amortization 46,133 3,850 3,908
Property and other taxes - 96 96
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 254,951 7,979 8,042
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 60,262 14,430 14,367
Interest and dividend income 3,785 389 440
Other nonoperating income (deductions)-net (16) (160) 84
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 3,769 229 524
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 64,031 14,659 14,891
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 57,573 8,174 8,465
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 57,573 8,174 8,465
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - (186) (186)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 6,458 6,299 6,240
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (6,852) 2,461 2,436
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 13,310 3,838 3,804
Retained earnings - beginning of year - (2,991) (1,443)
Dividends declared on common stock, other - (1) 500
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $13,310 $846 $1,861
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
570
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Latrobe Power Pty. Loy Yang Holdings MEC Esenyurt B.V.
Ltd. Consolidated Pty. Ltd. Consolidated
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $168,680 $16,814 $37,999
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 168,680 16,814 37,999
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 23,261 - 20,028
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 23,077 15,064 8,252
Depreciation, decommissioning and
amortization 28,560 512 4,082
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 74,898 15,576 32,362
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 93,782 1,238 5,637
Interest and dividend income 20,028 270 37
Other nonoperating income (deductions)-net 2,197 11 (1,453)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 22,225 281 (1,416)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 116,007 1,519 4,221
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 66,410 - 6,758
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 66,410 - 6,758
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 49,597 1,519 (2,537)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 27,820 (13,732) (3,428)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 21,777 15,251 891
Retained earnings - beginning of year 87,219 10,014 58
Dividends declared on common stock, other - - 1
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $108,996 $25,265 $950
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
571
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC IES B.V. ISAB Energy MEC India B.V.
Services s.r.l. [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net ($101) - ($8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (101) - (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (101) - (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (101) - (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (35) - (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (66) - (5)
Retained earnings - beginning of year (135) - (20)
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($201) - ($25)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
572
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission MEC Indo Coal B.V. MEC Indonesia B.V.
Energy Power [6]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $2,010 $1,363
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 2,010 1,363
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - 625 28
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 625 28
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 1,385 1,335
Interest and dividend income - 73 -
Other nonoperating income (deductions)-net - 315 (7)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 388 (7)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 1,773 1,328
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - 1,773 1,328
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - 623 (12)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - 1,150 1,340
Retained earnings - beginning of year - 4,043 (112)
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - $5,193 $1,228
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
573
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC International MEC Laguna Power Gulf Power
Holdings B.V. B.V. Generation Co. Ltd.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $7 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 7
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization 2 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 2 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 5 - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net (10) ($5)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (10) (5) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (5) (5) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (5) (5) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (1) (2) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (4) (3) -
Retained earnings - beginning of year 518 (17) -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $514 ($20) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
574
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Perth B.V. MEC Priolo B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $39,808 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 39,808 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 21,095 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 708 - -
Depreciation, decommissioning and
amortization 3,838 - -
Property and other taxes - - $255
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 25,641 - 255
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 14,167 - (255)
Interest and dividend income 1,041 - 31
Other nonoperating income (deductions)-net (2,445) - 156
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (1,404) - 187
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 12,763 - (68)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 7,075 - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 7,075 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (63) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 5,625 - (68)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (12) - (24)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 5,637 - (44)
Retained earnings - beginning of year 6,544 - (485)
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $12,181 - ($529)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
575
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC San Pascual MEC Sidi Krir B.V. MEC Sumatra B.V.
B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net ($8) ($8) ($8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (8) (8) (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (8) (8) (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (8) (8) (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (3) (3) (4)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (5) (5) (4)
Retained earnings - beginning of year (19) (18) (20)
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($24) ($23) ($24)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
576
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Wales B.V. Mission Energy Mission Energy
Consolidated Company (UK) Italia s.r.l.
Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $344,144 $125,199 $1,908
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 344,144 125,199 1,908
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 85,980 41,184 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 57,215 38,568 1,715
Depreciation, decommissioning and
amortization 23,661 10,646 -
Property and other taxes 17,042 2,407 46
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 183,898 92,805 1,761
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 160,246 32,394 147
Interest and dividend income 13,115 3,425 -
Other nonoperating income (deductions)-net (35) (271)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 13,080 3,154 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 173,326 35,548 147
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 59,420 9,652 -
Other interest expense - net 749 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 60,169 9,652 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (25,338) (2,659) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 87,819 23,237 147
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (14,939) 8,268 81
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 102,758 14,969 66
Retained earnings - beginning of year 1,500 34,575 192
Dividends declared on common stock, other 196,182 4,530 -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $300,440 $54,074 $258
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
577
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Pride Hold Limited Rillington EcoElectrica
Consolidated Holdings Limited S.a.r.l.
(Inactive) Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $95,622 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 95,622
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 41,150 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 14,350 - $259
Depreciation, decommissioning and
amortization 8,073 - -
Property and other taxes 2,086 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 65,659 - 259
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 29,963 - (259)
Interest and dividend income (5,734) - 105
Other nonoperating income (deductions)- net - - 213
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (5,734) - 318
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 24,229 - 59
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 7,328 - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 7,328 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 16,901 - 59
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 7,587 - 43
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 9,314 - 16
Retained earnings - beginning of year 38,652 - 163
Dividends declared on common stock, other (1) - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $47,965 - $179
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
578
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Southwestern Traralgon Power MEC International
Generation B.V. Pty. Ltd. B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - $1,203
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - 1,203
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - (1,203)
Interest and dividend income - $853 18,065
Other nonoperating income (deductions)-net ($12) - (1,740)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (12) 853 16,325
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (12) 853 15,122
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - 37,852
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - 37,852
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - 144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (12) 853 (22,586)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (5) 8,364 (8,006)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (7) (7,511) (14,580)
Retained earnings - beginning of year - (2,387) (4,582)
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($7) ($9,898) ($19,162)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
579
MEC International B.V. and Subsidiaries [Tier 5]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating MEC International
Adjustments B.V. Consolidated
- ------------------------------------------------------------- --------------------- ------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation ($206,220) $1,009,791 -
Financial services and other - - -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Total operating revenue (206,220) 1,009,791 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Fuel (41,150) 309,493 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance (16,876) 260,904 -
Depreciation, decommissioning and
amortization (11,736) 124,068
Property and other taxes (21,708) 320 -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Total operating expenses (91,470) 694,785 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Operating income (114,750) 315,006 -
Interest and dividend income (53,648) 9,434 -
Other nonoperating income (deductions)-net (33,692) 47,575 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Total other income - net (19,956) 57,009 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Income before fixed charges and taxes (134,706) 372,015 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Interest and amortization on long-term debt (69,635) 199,018 -
Other interest expense - net 1,429 2,178 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Total fixed charges (68,206) 201,196 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Minority interest (6,972) (35,260) -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Income before taxes (73,472) 135,559 -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Income taxes (20,073) (5,967) -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Net income (53,399) 141,526 -
Retained earnings - beginning of year 111,980 290,488 -
Dividends declared on common stock, other (200,712) - -
Dividends declared on preferred stock 500 - -
- ------------------------------------------------------------- --------------------- ------------------- --------------------
Retained earnings - end of year ($141,631) $432,014 -
============================================================= ===================== =================== ====================
</TABLE>
<PAGE>
580
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Asia Energy Fuel Operation &
Pacific Pte Ltd. Company Pte Ltd. Maintenance
Services Pte Ltd.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net $663 - $15,000
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 496 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,159 - 15,000
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,159 - $15,000
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
581
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
P.T. Edison Edison Mission Consolidating
Mission Operation Energy Asia Pte Adjustments
& Maintenance Ltd.
Indonesia
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
<S> <C> <C> <C>
Cash and equivalents $1,815 $1,046 -
Receivables - net 329 - $130
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 59 1,189 (130)
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total current assets 2,203 2,235 -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Nonutility property - net 5 1,938 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 241,607 235
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total investment and other assets 5 243,545 235
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 183 -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total deferred charges - 183 -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total assets $2,208 $245,963 $235
============================================================= ==================== ==================== ======================
</TABLE>
<PAGE>
582
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission
Energy Asia Pte
Ltd Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $2,861 - -
Receivables - net 16,122 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 1,614 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 20,597 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,943 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 241,842 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 243,785
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 183 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 183 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $264,565 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
583
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Asia Energy Fuel Operation &
Pacific Pte Ltd. Company Pte Ltd. Maintenance
Services Pte Ltd.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $1,144 - $15,102
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,144 - 15,102
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 8 - 5
Unrealized gain in equity securities-net - - -
Retained earnings 7 - (107)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 15 - (102)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,159 - $15,000
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
584
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
P.T. Edison Edison Mission Consolidating
Mission Operation Energy Asia Pte Adjustments
& Maintenance Ltd.
Indonesia
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - ($19,021) ($2,476)
Accrued taxes $272 2,121 1,163
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 37 - (37)
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total current liabilities 309 (16,900) (1,350)
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Accumulated deferred income taxes - net - 1,367 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 551 -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total deferred credits & other liabilities - 1,918 -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding - - -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Common stock - 231,489 -
Additional paid-in capital 1,500 - 1,485
Accumulated other comprehensive income:
Cumulative translation adjustments - net (562) 3,572 (3,497)
Unrealized gain in equity securities-net - - -
Retained earnings 961 25,884 3,597
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total common shareholders' equity 1,899 260,945 1,585
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total liabilities and shareholders' equity $2,208 $245,963 $235
============================================================= ==================== ==================== ======================
</TABLE>
<PAGE>
585
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission
Energy Asia Pte
Ltd. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($5,251) - -
Accrued taxes 3,556 - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,695) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,367 - -
Accumulated deferred investment - - -
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 551 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 1,918 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 231,489 - -
Additional paid-in capital 2,985 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (474) - -
Unrealized gain in equity securities-net - -
Retained earnings 30,342 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 264,342 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $264,565 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
586
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Asia Energy Fuel Operations &
Pacific Pte Ltd Company Pte Ltd. Maintenance
Services Pte Ltd.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - $18,869
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 18,869
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - 18,875
Depreciation, decommissioning and
amortization - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - 18,875
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - (6)
Interest and dividend income - - -
Other nonoperating income (deductions)-net $25 (99)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 25 - (99)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 25 - (105)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 25 - (105)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 18 - (1)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 7 - (104)
Retained earnings - beginning of year - - (3)
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $7 - ($107)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
587
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
P.T. Edison Edison Mission Consolidating
Mission Operation Energy Asia Pte Adjustments
& Maintenance Ltd.
Indonesia
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $5,120 - ($1,563)
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total operating revenue 5,120 (1,563)
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 4,552 $14,946 (18,746)
Depreciation, decommissioning and
amortization 10 673 (10)
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total operating expenses 4,562 15,619 (18,756)
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Operating income 558 (15,619) 17,193
Interest and dividend income - 7,191 (34)
Other nonoperating income (deductions)-net 69 34,490 (17,243)
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total other income - net 69 41,681 (17,277)
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Income before fixed charges and taxes 627 26,062 (84)
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Interest and amortization on long-term debt (70) - 16
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Total fixed charges (70) - 16
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Income before taxes 697 26,062 (100)
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Income taxes 337 5,497 (2,347)
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Net income 360 20,565 2,247
Retained earnings - beginning of year 601 5,319 1,350
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- ----------------------
Retained earnings - end of year $961 $25,884 $3,597
============================================================= ==================== ==================== ======================
</TABLE>
<PAGE>
588
MEC International B.V.
Edison Mission Energy Asia Pte Ltd and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission
Energy Asia Pte
Ltd. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $22,426 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 22,426 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 19,627 - -
Depreciation, decommissioning and
amortization 673 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 20,300 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 2,126 - -
Interest and dividend income 7,157 - -
Other nonoperating income (deductions)-net 17,242 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 24,399 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 26,525 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt (54) - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges (54) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 26,579 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 3,504 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 23,075 - -
Retained earnings - beginning of year 7,267 - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $30,342 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
589
MEC International B.V.
Edison Mission Operation and Maintenance Services, B.V.and Subsidiaries[Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Operation & Operation &
Philippines Maintenance Maintenance
Operation & Services Services, B.V.
Maintenance (Thailand)
Services Corp. Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $218 $103 $14
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 218 103 14
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 309
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - - 309
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 2 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $220 $103 $323
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
590
MEC International B.V.
Edison Mission Operation and Maintenance Services, B.V.and Subsidiaries[Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Mission
Adjustments Operation &
Maintenance
Services B.V.
Consolidated
- ------------------------------------------------------------- ----------------------- ----------------- --------------------
ASSETS
- ------------------------------------------------------------- ----------------------- ----------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $335 -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- ----------------------- ----------------- --------------------
Total current assets - 335 -
- ------------------------------------------------------------- ----------------------- ----------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries ($309) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- ----------------------- ----------------- --------------------
Total investment and other assets (309) -
- ------------------------------------------------------------- ----------------------- ----------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- ----------------------- ----------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- ----------------------- ----------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 2 -
- ------------------------------------------------------------- ----------------------- ----------------- --------------------
Total deferred charges - 2 -
- ------------------------------------------------------------- ----------------------- ----------------- --------------------
Total assets ($309) $337 -
============================================================= ======================= ================= ====================
</TABLE>
<PAGE>
591
MEC International B.V.
Edison Mission Operation and Maintenance Services, B.V.and Subsidiaries[Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Operation & Operation &
Philippines Maintenance Maintenance
Operation & Services Services, B.V.
Maintenance (Thailand)
Services Corp. Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $2 $1 $8
Accrued taxes - - (4)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2 1 4
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 4 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 4 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 206 103 19
Additional paid-in capital - - 309
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 8 (1) (9)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 214 102 319
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $220 $103 $323
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
592
MEC International B.V.
Edison Mission Operation and Maintenance Services, B.V.and Subsidiaries[Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Mission
Adjustments Operation &
Mainenance Services
B.V. Consolidated
- ------------------------------------------------------------- --------------------- ---------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- --------------------- ---------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - $11 -
Accrued taxes - (4) -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- --------------------- ---------------------- --------------------
Total current liabilities - 7 -
- ------------------------------------------------------------- --------------------- ---------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- --------------------- ---------------------- --------------------
Accumulated deferred income taxes - net - 4 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- --------------------- ---------------------- --------------------
Total deferred credits & other liabilities - 4 -
- ------------------------------------------------------------- --------------------- ---------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- --------------------- ---------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- --------------------- ---------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- --------------------- ---------------------- --------------------
Common stock ($309) 19 -
Additional paid-in capital - 309 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings - (2) -
- ------------------------------------------------------------- --------------------- ---------------------- --------------------
Total common shareholders' equity (309) 326 -
- ------------------------------------------------------------- --------------------- ---------------------- --------------------
Total liabilities and shareholders' equity ($309) $337 -
============================================================= ===================== ====================== ====================
</TABLE>
<PAGE>
593
MEC International B.V.
Edison Mission Operation and Maintenance Services, B.V.and Subsidiaries[Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Operation & Operation &
Philippines Maintenance Maintenance
Operation & Services Services, B.V.
Maintenance (Thailand)
Services Corp. Company
- -------------------------------------------------------------- ------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Total operating revenue - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - $1 -
Depreciation, decommissioning and
amortization - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Total operating expenses - 1 -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Operating income - (1) -
Interest and dividend income - - -
Other nonoperating income (deductions)-net $12 - ($12)
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Total other income - net 12 - (12)
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Income before fixed charges and taxes 12 (1) (12)
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Total fixed charges - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Minority interest - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Income before taxes 12 (1) (12)
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Income taxes 4 - (4)
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Net income 8 (1) (8)
Retained earnings - beginning of year - - (1)
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Retained earnings - end of year $8 ($1) ($9)
============================================================== =================== ==================== ====================
</TABLE>
<PAGE>
594
MEC International B.V.
Edison Mission Operation and Maintenance Services, B.V.and Subsidiaries[Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Mission
Adjustments Operation &
Maintenance
Services B.V.
Consolidated
- -------------------------------------------------------------- --------------------- -------------------- ------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- -------------------------------------------------------------- --------------------- -------------------- ------------------
Total operating revenue - - -
- -------------------------------------------------------------- --------------------- -------------------- ------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - $1 -
Depreciation, decommissioning and
amortization - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- -------------------------------------------------------------- --------------------- -------------------- ------------------
Total operating expenses - 1 -
- -------------------------------------------------------------- --------------------- -------------------- ------------------
Operating income - (1) -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - -
- -------------------------------------------------------------- --------------------- -------------------- ------------------
Total other income - net - - -
- -------------------------------------------------------------- --------------------- -------------------- ------------------
Income before fixed charges and taxes - (1) -
- -------------------------------------------------------------- --------------------- -------------------- ------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- -------------------------------------------------------------- --------------------- -------------------- ------------------
Total fixed charges - - -
- -------------------------------------------------------------- --------------------- -------------------- ------------------
Minority interest - - -
- -------------------------------------------------------------- --------------------- -------------------- ------------------
Income before taxes - (1) -
- -------------------------------------------------------------- --------------------- -------------------- ------------------
Income taxes - -
- -------------------------------------------------------------- --------------------- -------------------- ------------------
Net income - (1) -
Retained earnings - beginning of year - (1) -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- -------------------------------------------------------------- --------------------- -------------------- ------------------
Retained earnings - end of year - ($2) -
============================================================== ===================== ==================== ==================
</TABLE>
<PAGE>
595
MEC International B.V.
Global Generation B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Caresale Services Edison First Power Redbill Contracts
Limited Holdings I Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $201 $132,127 -
Receivables - net - - -
Fuel inventory - 108,071 -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 112,620 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 201 352,818 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 1,289,157 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 18,408 -
Investments in leveraged leases - - -
Other investments 516,160 387,727 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 516,160 1,695,292 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 920,239 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 920,239 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $516,361 $2,968,349 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
596
MEC International B.V.
Global Generation B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Global Generation Consolidating Global
B.V. Adjustments Generation B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $73 - $132,401
Receivables - net - $99,562 99,562
Fuel inventory - (1,105) 106,966
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - (99,561) 13,059
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 73 (1,104) 351,988
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 1,767,733 3,056,890
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 870,531 (888,939) -
Investments in leveraged leases - - -
Other investments - (903,887) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 870,531 (25,093) 3,056,890
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - (879,669) 40,570
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - (879,669) 40,570
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $870,604 ($905,866) $3,449,448
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
597
MEC International B.V.
Global Generation B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Caresale Services Edison First Power Redbill Contracts
Limited Holdings I Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $104 $162,584 -
Accrued taxes - 9,447 -
Accrued interest - 3,945 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - 140,516 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 104 316,492 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 2,246,909 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 516,160 395,871 -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (515) -
Unrealized gain in equity securities-net - -
Retained earnings 97 9,592 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 516,257 404,948 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $516,361 $2,968,349 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
598
MEC International B.V.
Global Generation B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Global Generation Consolidating Global
B.V. Adjustments Generation B.V.
Consolidated
- ------------------------------------------------------------- -------------------- --------------------- -------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- --------------------- -------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $118,349 $118,349
Accounts payable $5 (40) 162,653
Accrued taxes (4,248) 34,535 39,734
Accrued interest - (509) 3,436
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - (140,516) -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Total current liabilities (4,243) 11,819 324,172
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Long-term debt 439,397 (1,011,339) 1,674,967
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Accumulated deferred income taxes - net - 862,337 862,337
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - 108,338 108,338
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Total deferred credits & other liabilities - 970,675 970,675
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding - - -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Common stock 39 (912,030) 40
Additional paid-in capital 443,340 - 443,340
Accumulated other comprehensive income:
Cumulative translation adjustments - net - 23,459 22,944
Unrealized gain in equity securities-net - -
Retained earnings (7,929) 11,550 13,310
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Total common shareholders' equity 435,450 (877,021) 479,634
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Total liabilities and shareholders' equity $870,604 ($905,866) $3,449,448
============================================================= ==================== ===================== ===================
</TABLE>
<PAGE>
599
MEC International B.V.
Global Generation B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Caresale Services Edison First Power Redbill Contracts
Limited Holdings I Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $317,233 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 317,233 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 113,207 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $16 88,857 -
Depreciation, decommissioning and
amortization - 46,517
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 16 248,581 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (16) 68,652 -
Interest and dividend income 121 3,663 -
Other nonoperating income (deductions)-net - (582) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 121 3,081 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 105 71,733 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 52,878 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 52,878 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 105 18,855 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 8 9,263 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 97 9,592 -
Retained earnings - beginning of year - - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $97 $9,592 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
600
MEC International B.V.
Global Generation B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Global Generation Consolidating Global
B.V. Adjustments Generation B.V.
Consolidated
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - ($2,020) $315,213
Financial services and other - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Total operating revenue - (2,020) 315,213
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Fuel - 4,738 117,945
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 2,000 90,873
Depreciation, decommissioning and
amortization - (384) 46,133
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Total operating expenses - 6,354 254,951
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Operating income - (8,374) 60,262
Interest and dividend income $1 - 3,785
Other nonoperating income (deductions)-net (16) 582 (16)
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Total other income - net (15) 582 3,769
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Income before fixed charges and taxes (15) (7,792) 64,031
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Interest and amortization on long-term debt 12,184 (7,489) 57,573
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Total fixed charges 12,184 (7,489) 57,573
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Income before taxes (12,199) (303) 6,458
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Income taxes (4,270) (11,853) (6,852)
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Net income (7,929) 11,550 13,310
Retained earnings - beginning of year - - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Retained earnings - end of year ($7,929) $11,550 $13,310
============================================================= ==================== ====================== ==================
</TABLE>
<PAGE>
601
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission EME Finance UK Energy Generation
Marketing and Limited Finance PLC
Services Limited
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $615 - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 64 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 679 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 362 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 362
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,041 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
602
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Maplekey Holdings South Australia Edison First Power
Limited Holdings Ltd. Holdings I
Consolidated Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $131,512 - -
Receivables - net - - -
Fuel inventory 108,071 - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 112,556 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 352,139 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,288,795 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - $18,408
Investments in leveraged leases - - -
Other investments 387,727 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,676,522 - 18,408
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 920,239 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 920,239 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,948,900 - $18,408
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
603
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison First Power
Adjustments Holdings I
Consolidated
- ------------------------------------------------------------- ----------------------- -------------------- -----------------
ASSETS
- ------------------------------------------------------------- ----------------------- -------------------- -----------------
<S> <C> <C> <C>
Cash and equivalents - $132,127 -
Receivables - net - - -
Fuel inventory - 108,071 -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 112,620 -
- ------------------------------------------------------------- ----------------------- -------------------- -----------------
Total current assets - 352,818 -
- ------------------------------------------------------------- ----------------------- -------------------- -----------------
Nonutility property - net - 1,289,157 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 18,408 -
Investments in leveraged leases - - -
Other investments - 387,727 -
- ------------------------------------------------------------- ----------------------- -------------------- -----------------
Total investment and other assets - 1,695,292
- ------------------------------------------------------------- ----------------------- -------------------- -----------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- ----------------------- -------------------- -----------------
Total utility plant - - -
- ------------------------------------------------------------- ----------------------- -------------------- -----------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 920,239 -
- ------------------------------------------------------------- ----------------------- -------------------- -----------------
Total deferred charges - 920,239 -
- ------------------------------------------------------------- ----------------------- -------------------- -----------------
Total assets - $2,968,349 -
============================================================= ======================= ==================== =================
</TABLE>
<PAGE>
604
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission EME Finance UK Energy Generation
Marketing and Limited Finance PLC
Services Limited
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $895 ($22,871) ($12)
Accrued taxes - - -
Accrued interest - 303 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 146 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,041 (22,568) (12)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 22,582 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 21
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (1) (2) -
Unrealized gain in equity securities-net - -
Retained earnings 1 (12) (9)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - ($14) $12
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,041 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
605
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Maplekey Holdings South Australia Edison First Power
Limited Holdings Ltd. Holdings I
Consolidated Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $369,377 - ($369,377)
Accounts payable 183,702 - 870
Accrued taxes 4,191 - 5,256
Accrued interest 21,992 - (18,350)
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 140,370 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 719,632 - (381,601)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 2,224,327 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 8,065 - 387,785
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (228) - (284)
Unrealized gain in equity securities-net - - -
Retained earnings (2,896) - 12,508
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 4,941 - 400,009
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,948,900 - $18,408
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
606
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison First
Adjustments Power Holdings I
Consolidated
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - $162,584 -
Accrued taxes - 9,447 -
Accrued interest - 3,945 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - 140,516 -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Total current liabilities - 316,492 -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Long-term debt - 2,246,909 -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Minority Interest - - -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Common stock - 395,871 -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (515) -
Unrealized gain in equity securities-net - -
Retained earnings - 9,592 -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Total common shareholders' equity - 404,948 -
- ------------------------------------------------------------- ---------------------- ------------------ --------------------
Total liabilities and shareholders' equity - $2,968,349 -
============================================================= ====================== ================== ====================
</TABLE>
<PAGE>
607
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission EME Finance UK Energy Generation
Marketing and Limited Finance PLC
Services Limited
- --------------------------------------------------------------- ------------------ -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $1,520 $3,671 -
Financial services and other - - -
- --------------------------------------------------------------- ------------------ -------------------- --------------------
Total operating revenue 1,520 3,671 -
- --------------------------------------------------------------- ------------------ -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 1,519 3,683 $9
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- --------------------------------------------------------------- ------------------ -------------------- --------------------
Total operating expenses 1,519 3,683 9
- --------------------------------------------------------------- ------------------ -------------------- --------------------
Operating income 1 (12) (9)
Interest and dividend income - - -
Other nonoperating income (deductions)-net - -
- --------------------------------------------------------------- ------------------ -------------------- --------------------
Total other income - net - - -
- --------------------------------------------------------------- ------------------ -------------------- --------------------
Income before fixed charges and taxes 1 (12) (9)
- --------------------------------------------------------------- ------------------ -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- --------------------------------------------------------------- ------------------ -------------------- --------------------
Total fixed charges - - -
- --------------------------------------------------------------- ------------------ -------------------- --------------------
Minority interest - - -
- --------------------------------------------------------------- ------------------ -------------------- --------------------
Income before taxes 1 (12) (9)
- --------------------------------------------------------------- ------------------ -------------------- --------------------
Income taxes - - -
- --------------------------------------------------------------- ------------------ -------------------- --------------------
Net income 1 (12) (9)
Retained earnings - beginning of year - - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- --------------------------------------------------------------- ------------------ -------------------- --------------------
Retained earnings - end of year $1 ($12) ($9)
=============================================================== ================== ==================== ====================
</TABLE>
<PAGE>
608
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Maplekey Holdings South Australia Edison First Power
Limited Holdings Ltd. Holdings I
Consolidated Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $312,042 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 312,042 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 113,207 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 82,811 - $835
Depreciation, decommissioning and
amortization 46,517 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 242,535 - 835
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 69,507 - (835)
Interest and dividend income 3,663 - -
Other nonoperating income (deductions)-net (582) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 3,081 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 72,588 - (835)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 71,335 - (18,457)
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 71,335 - (18,457)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 1,253 - 17,622
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 4,149 - 5,114
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (2,896) - 12,508
Retained earnings - beginning of year - - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($2,896) - $12,508
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
609
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison First Power
Adjustments Holdings I
Consolidated
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $317,233 -
Financial services and other - - -
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
Total operating revenue 317,233 -
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
Fuel - 113,207 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 88,857 -
Depreciation, decommissioning and
amortization - 46,517 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
Total operating expenses - 248,581 -
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
Operating income - 68,652 -
Interest and dividend income - 3,663 -
Other nonoperating income (deductions)-net - (582) -
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
Total other income - net - 3,081 -
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
Income before fixed charges and taxes - 71,733 -
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
Interest and amortization on long-term debt - 52,878 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
Total fixed charges - 52,878 -
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
Minority interest - - -
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
Income before taxes - 18,855 -
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
Income taxes - 9,263 -
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
Net income - 9,592 -
Retained earnings - beginning of year - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- ---------------------- -------------------- ------------------
Retained earnings - end of year - $9,592 -
============================================================= ====================== ==================== ==================
</TABLE>
<PAGE>
610
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I
Maplekey Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Maplekey UK Maplekey UK Edison First Power
Finance Limited Limited [9] Limited [10]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - $131,512
Receivables - net - - -
Fuel inventory - - 108,071
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 112,556
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - 352,139
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 1,288,795
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $8,065 $8,065 -
Investments in leveraged leases - - -
Other investments 387,727 387,727 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 395,792 395,792 1,288,795
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 920,239
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 920,239
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $395,792 $395,792 $2,561,173
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
611
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I
Maplekey Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Maplekey Holdings Consolidating Maplekey
Limited Adjustments Holdings Limited
Consolidated
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
ASSETS
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
<S> <C> <C> <C>
Cash and equivalents - - $131,512
Receivables - net - - -
Fuel inventory - - 108,071
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 112,556
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Total current assets - - 352,139
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Nonutility property - net - - 1,288,795
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $8,065 ($24,195) -
Investments in leveraged leases - - -
Other investments 387,727 (775,454) 387,727
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Total investment and other assets 395,792 (799,649) 1,676,522
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 920,239
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Total deferred charges - - 920,239
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Total assets $395,792 ($799,649) $2,948,900
============================================================= ==================== ====================== ==================
</TABLE>
<PAGE>
612
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I
Maplekey Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Maplekey UK Maplekey UK Edison First Power
Finance Limited Limited [9] Limited [10]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $369,377 $369,377 -
Accounts payable 14 13 $183,661
Accrued taxes - - 4,191
Accrued interest 18,350 18,350 21,992
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - 140,370
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 387,741 387,740 350,214
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - 2,224,327
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding - - -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 8,065 8,065 8,065
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - (121)
Unrealized gain in equity securities-net - -
Retained earnings (14) (13) (21,312)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 8,051 8,052 (13,368)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $395,792 $395,792 $2,561,173
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
613
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I
Maplekey Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Maplekey Holdings Consolidating Maplekey Holdings
Limited Adjustments Limited
Consolidated
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $369,377 ($738,754) $369,377
Accounts payable 13 1 183,702
Accrued taxes - - 4,191
Accrued interest 18,350 (55,050) 21,992
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - 140,370
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total current liabilities 387,740 (793,803) 719,632
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Long-term debt - - 2,224,327
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Common stock 8,065 (24,195) 8,065
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (107) (228)
Unrealized gain in equity securities-net - -
Retained earnings (13) 18,456 (2,896)
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total common shareholders' equity 8,052 (5,846) 4,941
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total liabilities and shareholders' equity $395,792 ($799,649) $2,948,900
============================================================= ==================== ====================== ====================
</TABLE>
<PAGE>
614
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I
Maplekey Holdings Limited and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Maplekey UK Maplekey UK Edison First Power
Finance Limited Limited [9] Limited [10]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - $312,042
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - 312,042
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - 113,207
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $14 $13 82,771
Depreciation, decommissioning and
amortization - - 46,517
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 14 13 242,495
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (14) (13) 69,547
Interest and dividend income - - 3,663
Other nonoperating income (deductions)-net - - (582)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - 3,081
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (14) (13) 72,628
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - 89,791
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - 89,791
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (14) (13) (17,163)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - 4,149
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (14) (13) (21,312)
Retained earnings - beginning of year - - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($14) ($13) ($21,312)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
615
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I
Maplekey Holdings Limited and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Maplekey Holdings Consolidating Maplekey Holdings
Limited Adjustments Limited
Consolidated
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - $312,042
Financial services and other - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total operating revenue 312,042
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Fuel - - 113,207
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $13 - 82,811
Depreciation, decommissioning and
amortization - - 46,517
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total operating expenses 13 - 242,535
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Operating income (13) - 69,507
Interest and dividend income - - 3,663
Other nonoperating income (deductions)-net - - (582)
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total other income - net - - 3,081
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Income before fixed charges and taxes (13) - 72,588
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Interest and amortization on long-term debt - ($18,456) 71,335
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total fixed charges - (18,456) 71,335
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Income before taxes (13) 18,456 1,253
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Income taxes - - 4,149
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Net income (13) 18,456 (2,896)
Retained earnings - beginning of year - - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Retained earnings - end of year ($13) $18,456 ($2,896)
============================================================= ==================== ====================== ====================
</TABLE>
<PAGE>
616
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I
South Australia Holdings Ltd. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission EME Adelaide EME Monet Ltd.
Ausone Pty Ltd. Energy Ltd. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
617
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I
South Australia Holdings Ltd. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
South Australia Consolidating South Australia
Holdings Ltd. Adjustments Holdings Ltd.
Consolidated
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
ASSETS
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Total assets - - -
============================================================= ==================== ====================== =====================
</TABLE>
<PAGE>
618
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I
South Australia Holdings Ltd. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission EME Adelaide EME Monet Ltd.
Ausone Pty Ltd. Energy Ltd. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
619
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I
South Australia Holdings Ltd. and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
South Australia Consolidating South Australia
Holdings Ltd. Adjustments Holdings Ltd.
Consolidated
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total current liabilities - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Common stock - - -
Additional paid-in capital
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total common shareholders' equity - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ====================== ====================
</TABLE>
<PAGE>
620
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I
South Australia Holdings Ltd. and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission EME Adelaide EME Monet Ltd.
Ausone Pty Ltd. Energy Ltd. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income
Retained earnings - beginning of year - - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
621
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I
South Australia Holdings Ltd. and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
South Australia Consolidating South Australia
Holdings Ltd. Adjustments Holdings Ltd.
Consolidated
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
Total operating revenue -
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
Total operating expenses - - -
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
Total other income - net - - -
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
Income before fixed charges and taxes - - -
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
Total fixed charges
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
Minority interest - - -
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
Income before taxes - - -
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
Income taxes
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
Net income
Retained earnings - beginning of year - - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- -------------------------------------------------------------- ------------------- ---------------------- --------------------
Retained earnings - end of year - - -
============================================================== =================== ====================== ====================
</TABLE>
<PAGE>
622
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I, South Australia Holdings Ltd.
EME Monet Ltd. and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission De Edison Mission Edison Mission
Laide Pty Ltd. Vendesi Pty Ltd. Utilities Pty Ltd.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
623
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I, South Australia Holdings Ltd.
EME Monet Ltd. and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Monet Ltd. Consolidating EME Monet Ltd.
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
ASSETS
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Total investment and other assets - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- ---------------------- ---------------------
Total assets - - -
============================================================= ==================== ====================== =====================
</TABLE>
<PAGE>
624
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I, South Australia Holdings Ltd.
EME Monet Ltd. and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission De Edison Mission Edison Mission
Laide Pty Ltd. Vendesi Pty Ltd. Utilities Pty Ltd.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
625
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I, South Australia Holdings Ltd.
EME Monet Ltd. and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Monet Ltd. Consolidating EME Monet Ltd.
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total current liabilities - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Common stock - - -
Additional paid-in capital
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total common shareholders' equity - - -
- ------------------------------------------------------------- -------------------- ---------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ====================== ====================
</TABLE>
<PAGE>
626
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I, South Australia Holdings Ltd.
EME Monet Ltd. and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission De Edison Mission Edison Mission
Laide Pty Ltd. Vendesi Pty Ltd. Utilities Pty Ltd.
- -------------------------------------------------------------- ------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Total operating revenue -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Total operating expenses - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Total other income - net - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Total fixed charges
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Minority interest - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Income before taxes - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Income taxes
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Net income
Retained earnings - beginning of year - - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- -------------------------------------------------------------- ------------------- -------------------- --------------------
Retained earnings - end of year - - -
============================================================== =================== ==================== ====================
</TABLE>
<PAGE>
627
MEC International B.V., Global Generation B.V.
Edison First Power Holdings I, South Australia Holdings Ltd.
EME Monet Ltd. and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Monet Ltd. Consolidating EME Monet Ltd.
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Total operating revenue -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Total fixed charges
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Income taxes
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Net income
Retained earnings - beginning of year - - -
Dividends declared on common stock, other - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- ---------------------- ------------------
Retained earnings - end of year - - -
============================================================= ==================== ====================== ==================
</TABLE>
MEC International B.V.
Hydro Energy B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberica de Electro Monasterio de
Energias S.A. Metalurgica del Rueda, S.L. [8]
Ebro, S.A. [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $5,654 - -
Receivables - net 7,029 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 643 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 13,326 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 100,845 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (2,796) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 98,049
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 1,836 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,836 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $113,211 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
629
MEC International B.V.
Hydro Energy B.V.and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Hydro Energy B.V Consolidating Hydro Energy B.V.
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $1 - $5,655
Receivables - net - - 7,029
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 643
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1 - 13,327
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 100,845
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $24,871 ($24,871) (2,796)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 24,871 (24,871) 98,049
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 1,836
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 1,836
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $24,872 ($24,871) $113,212
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
630
MEC International B.V.
Hydro Energy B.V.and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberica de Electro Monasterio de
Energias S.A. Metalurgica del Rueda, S.L. [8]
Ebro, S.A. [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt ($4,840) - -
Accounts payable 3,039 - -
Accrued taxes 1,205 - -
Accrued interest 1,868 - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,272 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 78,778 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 8,713 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 8,713 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 536 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23,387 - -
Additional paid-in capital 8,746 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (9,442) - -
Unrealized gain in equity securities-net - - -
Retained earnings 1,221 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 23,912 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $113,211 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
631
MEC International B.V.
Hydro Energy B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Hydro Energy B.V Consolidating Hydro Energy B.V.
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $2,016 - ($2,824)
Accounts payable 33 - 3,072
Accrued taxes (27) - 1,178
Accrued interest - - 1,868
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2,022 - 3,294
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 29,428 $18,088 126,294
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - 8,713
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - 8,713
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - 536
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 25 (23,387) 25
Additional paid-in capital - - 8,746
Accumulated other comprehensive income:
Cumulative translation adjustments - net 3,214 (29,014) (35,242)
Unrealized gain in equity securities-net - -
Retained earnings (9,817) 9,442 846
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (6,578) (42,959) (25,626)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $24,872 ($24,871) $113,212
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
632
MEC International B.V.
Hydro Energy B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberica de Electro Monasterio de
Energias S.A. Metalurgica del Rueda, S.L. [8]
Ebro, S.A. [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $22,409 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 22,409 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 4,027 - -
Depreciation, decommissioning and
amortization 3,850 - -
Property and other taxes 96 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 7,973 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 14,436 - -
Interest and dividend income 389 - -
Other nonoperating income (deductions)-net (262)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 127 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 14,563 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 8,088 - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 8,088 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (186) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 6,289 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 2,458
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 3,831 - -
Retained earnings - beginning of year (2,610) - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,221 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
633
MEC International B.V.
Hydro Energy B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Hydro Energy B.V Consolidating Hydro Energy B.V.
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - $22,409
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 22,409
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $6 - 4,033
Depreciation, decommissioning and
amortization - - 3,850
Property and other taxes - - 96
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 6 - 7,979
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (6) - 14,430
Interest and dividend income - - 389
Other nonoperating income (deductions)-net 102 - (160)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 102 - 229
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 96 - 14,659
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 86 - 8,174
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 86 - 8,174
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - (186)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 10 - 6,299
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 4 - 2,461
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 6 - 3,838
Retained earnings - beginning of year (9,823) $9,442 (2,991)
Dividends declared on common stock - - (1)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9,817) $9,442 $846
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
634
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberian EME Desarrello Hydro Energy B.V.
Hy-Power Amsterdam Espana S.L. Consolidated
B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $179 $3 $5,655
Receivables - net - 25 7,029
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 643
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 179 28 13,327
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 100,845
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 3,848 - (2,796)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 3,848 - 98,049
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 1,646 - 1,836
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,646 - 1,836
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,673 $28 $113,212
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
635
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberica de Saltos del Porma, Consolidating
Energias, S.A. S.A. Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $4,377 $38 -
Receivables - net 5,269 54 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 449 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 10,096 92 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 49,028 469 $17,941
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 8,906 - (1,052)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 57,934 469 16,889
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 4,561 2,543 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 4,561 2,543 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $72,590 $3,104 $16,889
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
636
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberian
Hy-Power Amsterdam
B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $5,875 - -
Receivables - net 7,108 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 643 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 13,626 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 119,255 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 119,255 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 6,025 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 6,025 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $138,906 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
637
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberian EME Desarrello Hydro Energy B.V.
Hy-Power Amsterdam Espana S.L. Consolidated
B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $10,548 - ($2,824)
Accounts payable (19) $412 3,072
Accrued taxes (449) (134) 1,178
Accrued interest 164 - 1,868
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 10,244 278 3,294
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - 126,294
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - 8,713
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - 8,713
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - 536
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 1,186 - 25
Additional paid-in capital 965 8,746
Accumulated other comprehensive income:
Cumulative translation adjustments - net 4 8 (35,242)
Unrealized gain in equity securities-net - -
Retained earnings (6,726) (258) 846
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (4,571) (250) (25,625)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,673 $28 $113,212
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
638
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberica de Saltos del Porma, Consolidating
Energias, S.A. S.A. Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - $61 -
Accrued taxes - 4 -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 65 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 2 ($18,088)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - $825 (2,036)
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - 2,212 29,014
Unrealized gain in equity securities-net - -
Retained earnings - - 7,999
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 3,307 34,977
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $3,104 $16,889
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
639
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberian
Hy-Power Amsterdam
B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $7,724 - -
Accounts payable 3,526 - -
Accrued taxes 599 - -
Accrued interest 2,032 - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 13,881 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 108,208 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 8,713 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 8,713 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 536 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 9,711
Accumulated other comprehensive income:
Cumulative translation adjustments - net (4,004) - -
Unrealized gain in equity securities-net - -
Retained earnings 1,861 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 7,568 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $138,906 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
640
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberian EME Desarrello Hydro Energy B.V.
Hy-Power Amsterdam Espana S.L. Consolidated
B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - $22,409
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 22,409
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $5 - 4,033
Depreciation, decommissioning and
amortization 58 - 3,850
Property and other taxes - - 96
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 63 - 7,979
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (63) - 14,430
Interest and dividend income 50 $1 389
Other nonoperating income (deductions)-net 648 (404) (160)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 698 (403) 229
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 635 (403) 14,659
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 290 1 8,174
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 290 1 8,174
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - (186)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 345 (404) 6,299
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 121 (146) 2,461
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 224 (258) 3,838
Retained earnings - beginning of year (6,950) - (2,991)
Dividends declared on common stock - - (1)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($6,726) ($258) $846
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
641
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberica de Saltos del Porma, Consolidating
Energias, S.A. S.A. Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - - -
Retained earnings - beginning of year - - $8,498
Dividends declared on common stock - - (499)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - - $7,999
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
642
MEC International B.V.
Iberian Hy-Power Amsterdam B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberian
Hy-Power Amsterdam
B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $22,409 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 22,409 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 4,038 - -
Depreciation, decommissioning and
amortization 3,908 -
Property and other taxes 96 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 8,042 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 14,367 - -
Interest and dividend income 440 - -
Other nonoperating income (deductions)-net 84
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 524 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 14,891 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 8,465 - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 8,465 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (186) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 6,240 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 2,436 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 3,804 - -
Retained earnings - beginning of year (1,443) - -
Dividends declared on common stock (500) - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,861 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
643
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hydro Energy B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberica de Electro Monasterio de
Energias S.A. Metalurgica del Rueda, S.L. [9]
Ebro, S.A. [8]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $5,654 - -
Receivables - net 7,030 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 643 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 13,327 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 100,845 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (2,796) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 98,049 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 1,836 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 1,836 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $113,212 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
644
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hydro Energy B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Hydro Energy B.V. Consolidating Hydro Energy B.V.
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $1 - $5,655
Receivables - net - ($1) 7,029
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 643
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1 - 13,327
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 100,845
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 24,871 (24,871) (2,796)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 24,871 (24,871) 98,049
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 1,836
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 1,836
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $24,872 ($24,872) $113,212
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
645
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hydro Energy B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberica de Electro Monasterio de
Energias S.A. Metalurgica del Rueda, S.L. [9]
Ebro, S.A. [8]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt ($4,840) - -
Accounts payable 3,039 - -
Accrued taxes 1,205 - -
Accrued interest 1,868 - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 1,272 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 78,779 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 8,713 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 8,713 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 536 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 23,387 - -
Additional paid-in capital 8,746 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (9,442) - -
Unrealized gain in equity securities-net - -
Retained earnings 1,221 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 23,912 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $113,212 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
646
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hydro Energy B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Hydro Energy B.V. Consolidating Hydro Energy B.V.
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $2,016 - ($2,824)
Accounts payable 33 - 3,072
Accrued taxes (27) - 1,178
Accrued interest - - 1,868
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 2,022 - 3,294
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 29,428 $18,087 126,294
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - 8,713
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - 8,713
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - 536
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 25 (23,387) 25
Additional paid-in capital - - 8,746
Accumulated other comprehensive income:
Cumulative translation adjustments - net 3,214 (29,014) (35,242)
Unrealized gain in equity securities-net - -
Retained earnings (9,817) 9,442 846
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (6,578) (42,959) (25,625)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $24,872 ($24,872) $113,212
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
647
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hydro Energy B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Iberica de Electro Monasterio de
Energias S.A. Metalurgica del Rueda, S.L. [9]
Ebro, S.A. [8]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $22,409 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 22,409 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 4,027 - -
Depreciation, decommissioning and
amortization 3,850 -
Property and other taxes 96 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 7,973 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 14,436 - -
Interest and dividend income 389 - -
Other nonoperating income (deductions)-net (262)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 127 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 14,563 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 8,088 - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 8,088
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (186) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 6,289 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 2,458
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 3,831 - -
Retained earnings - beginning of year (2,610) - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,221 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
648
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Hydro Energy B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Hydro Energy B.V. Consolidating Hydro Energy B.V.
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - $22,409
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 22,409
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $6 - 4,033
Depreciation, decommissioning and
amortization - - 3,850
Property and other taxes - - 96
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 6 - 7,979
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (6) - 14,430
Interest and dividend income - 389
Other nonoperating income (deductions)-net 102 (160)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 102 229
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 96 14,659
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 86 - 8,174
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 86 - 8,174
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - (186)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 10 - 6,299
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 4 - 2,461
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 6 - 3,838
Retained earnings - beginning of year (9,823) $9,442 (2,991)
Dividends declared on common stock - - (1)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9,817) $9,442 $846
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
649
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Iberica de Energias, S. A. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Electro Monasterio de Iberica de
Metalurgica del Rueda, S.L. [8] Energias, S.A.
Ebro, S.A.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $1,277 - $4,377
Receivables - net 1,740 - 5,269
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 194 - 449
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 3,211 - 10,095
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6,668 - 49,028
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 8 - 8,906
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 6,676 - 57,934
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 44,597 - 4,561
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 44,597 - 4,561
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $54,484 - $72,590
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
650
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Iberica de Energias, S. A. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Iberica de
Adjustments Energias, S.A.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $5,654 -
Receivables - net $21 7,030 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 643 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 21 13,327 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 45,149 100,845 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (11,710) (2,796) -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 33,439 98,049 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges (47,322) 1,836 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (47,322) 1,836 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($13,862) $113,212 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
651
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Iberica de Energias, S. A. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Electro Monasterio de Iberica de
Metalurgica del Rueda, S.L. [8] Energias, S.A.
Ebro, S.A.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $5,268 - $1,855
Accounts payable 4,049 - 1,572
Accrued taxes 85 - 829
Accrued interest 124 - 117
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 9,526 - 4,373
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 38,827 - 37,103
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 432 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 83 - 17,549
Additional paid-in capital 12 11,062
Accumulated other comprehensive income:
Cumulative translation adjustments - net 999 - 4,288
Unrealized gain in equity securities-net - -
Retained earnings 4,605 - (1,785)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 5,699 - 31,114
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $54,484 - $72,590
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
652
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Iberica de Energias, S. A. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Iberica de
Adjustments Energias, S.A.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt ($11,963) ($4,840) -
Accounts payable (2,582) 3,039 -
Accrued taxes 291 1,205 -
Accrued interest 1,627 1,868 -
Dividends payable - - -
Regulatory balancing accounts-net - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (12,627) 1,272 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 2,849 78,779 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 8,713 8,713 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 8,713 8,713 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 104 536 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 5,755 23,387 -
Additional paid-in capital (2,328) 8,746 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (14,729) (9,442) -
Unrealized gain in equity securities-net - - -
Retained earnings (1,599) 1,221 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (12,901) 23,912 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($13,862) $113,212 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
653
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Iberica de Energias, S. A. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Electro Monasterio de Iberica de
Metalurgica del Rueda, S.L. [8] Energias, S.A.
Ebro, S.A.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $10,394 - $12,729
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 10,394 12,729
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 1,417 - 2,851
Depreciation, decommissioning and
amortization 2,727 - 1,675
Property and other taxes 50 - 48
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4,194 - 4,574
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 6,200 - 8,155
Interest and dividend income 67 - 350
Other nonoperating income (deductions)-net (195) - (458)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (128) - (108)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 6,072 - 8,047
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 3,867 - 2,651
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 3,867 - 2,651
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (186) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 2,019 - 5,396
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 90 1,895
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 1,929 - 3,501
Retained earnings - beginning of year 2,676 - (5,286)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $4,605 - ($1,785)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
654
MEC International B.V.
Iberian Hy-Power Amsterdam B.V.
Iberica de Energias, S. A. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Iberica de
Adjustments Energias, S.A.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation ($714) $22,409 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (714) 22,409 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance (241) 4,027 -
Depreciation, decommissioning and
amortization (552) 3,850
Property and other taxes (2) 96 -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (795) 7,973 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 81 14,436 -
Interest and dividend income (27) 390 -
Other nonoperating income (deductions)-net 391 (262)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 364 128 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 445 14,564 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 1,571 8,089 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 1,571 8,089 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - (186) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (1,126) 6,289 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 473 2,458 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1,599) 3,831 -
Retained earnings - beginning of year - (2,610) -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($1,599) $1,221 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
655
MEC International B.V.
Latrobe Power Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Latrobe Power Pty
Partnership Partnership [7] Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $57 $1,283 -
Receivables - net - 5,012 -
Fuel inventory - 4,778 -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 732 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 57 11,805 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 739,339 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 184,280 - $95,167
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 184,280 739,339 95,167
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 4,995 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 4,995 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $184,337 $756,139 $95,167
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
656
MEC International B.V.
Latrobe Power Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Latrobe Power Pty
Adjustments Ltd Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $26,465 $27,805 -
Receivables - net 7,065 12,077 -
Fuel inventory 4,590 9,368 -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 704 1,436 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 38,824 50,686 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 551,772 1,291,111 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (279,447) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 272,325 1,291,111
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 11,350 16,345 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 11,350 16,345 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $322,499 $1,358,142 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
657
MEC International B.V.
Latrobe Power Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Latrobe Power Pty
Partnership Partnership [7] Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $11,401 -
Current portion of long-term debt - - -
Accounts payable ($1,879) (283,049) ($10,703)
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,879) (271,648) (10,703)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 418,280 98,758
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (9) - (7,309)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - 353,905 -
Other long-term liabilities - 815 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (9) 354,720 (7,309)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 181,930 186,821 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (593) (2,632) 27,713
Unrealized gain in equity securities-net - -
Retained earnings 4,888 70,598 (13,292)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 186,225 254,787 14,421
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $184,337 $756,139 $95,167
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
658
MEC International B.V.
Latrobe Power Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Latrobe Power Pty
Adjustments Ltd Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt ($11,401) - -
Current portion of long-term debt 21,549 $21,549 -
Accounts payable 96,121 (391,752) -
Accrued taxes - - -
Accrued interest 16,535 16,535 -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (69,438) (353,668) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 423,415 940,453 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 17,043 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits 154,921 508,826 -
Other long-term liabilities 815 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 178,467 525,869 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 111,897 111,897 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - -
Additional paid-in capital (290,398) 78,353 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (78,246) (53,758) -
Unrealized gain in equity securities-net - -
Retained earnings 46,802 108,996 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (321,842) 133,591 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $322,499 $1,358,142 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
659
MEC International B.V.
Latrobe Power Pty Ltd and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Latrobe Power Pty
Partnership Partnership [7] Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $55,570 $24,228
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 55,570 24,228
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 8,759 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 14,702 24,225
Depreciation, decommissioning and
amortization - (8,295)
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 15,166 24,225
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 40,404 3
Interest and dividend income $2 12,892 871
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 2 12,892 871
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 2 53,296 874
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 34,381 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 34,381 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 2 18,915 874
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - 9,709
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 2 18,915 (8,835)
Retained earnings - beginning of year 4,886 51,683 (4,457)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $4,888 $70,598 ($13,292)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
660
MEC International B.V.
Latrobe Power Pty Ltd and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Latrobe Power Pty
Adjustments Ltd Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $88,882 $168,680 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 88,882 168,680 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 14,502 23,261 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance (15,850) 23,077 -
Depreciation, decommissioning and
amortization 36,855 28,560
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 35,507 74,898 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 53,375 93,782 -
Interest and dividend income 6,263 20,028 -
Other nonoperating income (deductions)-net 2,197 2,197
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 8,460 22,225 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 61,835 116,007 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 32,029 66,410 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 32,029 66,410 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 29,806 49,597 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 18,111 27,820 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 11,695 21,777 -
Retained earnings - beginning of year 35,107 87,219 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $46,802 $108,996 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
661
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Latrobe Power Pty Mission Energy
Energy Holdings Ltd Consolidated Ventures Australia
Pty Ltd Pty Ltd
Consolidated Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $2,105 $27,805 -
Receivables - net 22 12,077 -
Fuel inventory - 9,368 -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 173 1,436 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 2,300 50,686 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,232 1,291,111 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 743 - $2,526
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,975 1,291,111 2,526
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 9,118 16,345 1,590
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 9,118 16,345 1,590
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $13,393 $1,358,142 $4,116
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
662
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Traralgon Power Loy Yang Holdings Consolidating
Pty Ltd Pty Ltd Adjustments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - ($27,805)
Receivables - net - - (12,077)
Fuel inventory - - (9,368)
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - (1,436)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - (50,686)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - (1,283,798)
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $84,936 - (84,937)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 84,936 - (1,368,735
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - (26,994)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - (26,994)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $84,936 - ($1,446,416)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
663
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Loy Yang Holdings
Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $2,105 - -
Receivables - net 22 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 173 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 2,300 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 8,545 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 3,268 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 11,813
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 59 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 59 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $14,172 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
664
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Latrobe Power Pty Mission Energy
Energy Holdings Ltd Consolidated Ventures Australia
Pty Ltd Pty Ltd
Consolidated Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $1,531 $21,549 -
Accounts payable (18,204) (391,752) ($158)
Accrued taxes - - (76)
Accrued interest - 16,535 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (16,673) (353,668) (234)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 330 940,453 2,459
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 3,756 17,043 1,441
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - 508,826 -
Other long-term liabilities 200 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 3,956 525,869 1,441
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 111,897 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - 78,353 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (1,063) (53,758) 114
Unrealized gain in equity securities-net - -
Retained earnings 26,843 108,996 336
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 25,780 133,591 450
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $13,393 $1,358,142 $4,116
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
665
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Traralgon Power Loy Yang Holdings Consolidating
Pty Ltd Pty Ltd Adjustments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - ($23,030)
Accounts payable ($11,153) - 405,856
Accrued taxes - - -
Accrued interest - - (16,535)
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (11,153) - 366,291
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 133,068 - (1,073,218)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (6,883) - (13,500)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - (508,504)
Other long-term liabilities - - (200)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (6,883) - (522,204)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - (111,897)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - - (78,353)
Accumulated other comprehensive income:
Cumulative translation adjustments - net (20,198) - 73,978
Unrealized gain in equity securities-net - -
Retained earnings (9,898) - (101,012)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (30,096) - (105,387)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $84,936 - ($1,446,415)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
666
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Loy Yang Holdings
Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt
Current portion of long-term debt - - -
Accounts payable $50 - -
Accrued taxes (15,411) - -
Accrued interest (76) - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (15,437) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 3,092 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,857 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits 322 - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 2,179 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (927) - -
Unrealized gain in equity securities-net - -
Retained earnings 25,265 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 24,338 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $14,172 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
667
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Latrobe Power Pty Mission Energy
Energy Holdings Ltd Consolidated Ventures Australia
Pty Ltd Pty Ltd
Consolidated Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $13,482 $168,680 $187
Financial services and other -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 13,482 168,680 187
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 23,261 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 15,507 23,077 -
Depreciation, decommissioning and
amortization 510 28,560
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 16,017 74,898 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (2,535) 93,782 187
Interest and dividend income 2,107 20,028 15
Other nonoperating income (deductions)-net 4,468 2,197
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 6,575 22,225 15
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 4,040 116,007 202
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 66,410 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 66,410 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 4,040 49,597 202
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (13,140) 27,820 217
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 17,180 21,777 (15)
Retained earnings - beginning of year 9,663 87,219 351
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $26,843 $108,996 $336
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
668
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Traralgon Power Loy Yang Holdings Consolidating
Pty Ltd Pty Ltd Adjustments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - ($165,536)
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (165,536)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - (23,261)
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - (23,520)
Depreciation, decommissioning and
amortization - - (28,558)
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - (75,339)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - (90,196)
Interest and dividend income $853 - (22,733)
Other nonoperating income (deductions)-net (6,654)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 853 - (29,387)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 853 - (119,583)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - (66,410)
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - (66,410)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes $853 - (53,173)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 8,364 - (36,993)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (7,511) (16,180)
Retained earnings - beginning of year (2,387) - (84,832)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($9,898) - ($101,012)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
669
MEC International B.V.
Loy Yang Holdings Pty Ltd and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Loy Yang Holdings
Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $16,814 - -
Financial services and other - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 16,814 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 15,064 - -
Depreciation, decommissioning and
amortization 512 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 15,576 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 1,238 - -
Interest and dividend income 270 - -
Other nonoperating income (deductions)-net 11
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 281 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 1,519 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 1,519 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (13,732) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 15,251 - -
Retained earnings - beginning of year 10,014 - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $25,265 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
670
MEC International B.V.
Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Latrobe Power Edison Mission
Energy Australia Partnership [8] Energy Australia
Ltd. Pilbara Power Pty
Ltd.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
671
MEC International B.V.
Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Mission Energy
Operation & Operation & Holdings Superannu-
Maintenance Maintenance Loy ation Fund Pty Ltd
Kwinana Pty Ltd Yang Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
672
MEC International B.V.
Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Kwinana Power Edison Mission
(Kwinana) Pty Ltd Partnership [8] Energy Holdings
Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $5,910 $512
Receivables - net - 2,416 22
Fuel inventory - 1,809 -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 203 173
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 10,338 707
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 77,226 1,233
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $372 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 372 77,226 1,233
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 11 2,667 550
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 11 2,667 550
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $383 $90,231 $2,490
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
673
MEC International B.V.
Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Mission
Adjustments Energy Holdings
Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents ($4,317) $2,105 -
Receivables - net (2,416) 22 -
Fuel inventory (1,809) - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (203) 173 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (8,745) 2,300 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (77,227) 1,232 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 371 743 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (76,856) 1,975 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 5,890 9,118 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 5,890 9,118 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($79,711) $13,393 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
674
MEC International B.V.
Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Latrobe Power Edison Mission
Energy Australia Partnership [8] Energy Australia
Ltd. Pilbara Power Pty
Ltd.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - - -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
675
MEC International B.V.
Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Mission Energy
Operation & Operation & Holdings Superannu-
Maintenance Maintenance Loy ation Fund Pty Ltd
Kwinana Pty Ltd Yang Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($1,006) ($3,987) -
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,006) (3,987) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (28) (663) -
Unrealized gain in equity securities-net - - -
Retained earnings 1,034 4,650 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity $1,006 $3,987 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
676
MEC International B.V.
Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Kwinana Power Edison Mission
(Kwinana) Pty Ltd Partnership [8] Energy Holdings
Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $3,709 $50
Accounts payable ($75) (21,541) 3,044
Accrued taxes - - -
Accrued interest - 3,097 -
Dividends payable - - -
Regulatory balancing accounts-net -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (75) (14,735) 3,094
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 243 58,708 122
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 123 - 78
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - 9,075 -
Other long-term liabilities - - 200
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 123 9,075 278
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding - -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - 20,842 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 13 558 3,475
Unrealized gain in equity securities-net - -
Retained earnings 79 15,783 (4,479)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 92 37,183 (1,004)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $383 $90,231 $2,490
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
677
MEC International B.V.
Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Mission
Adjustments Energy Holdings
Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - -
Current portion of long-term debt ($2,228) $1,531 -
Accounts payable 5,361 (18,204) -
Accrued taxes - - -
Accrued interest (3,097) - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 36 (16,673) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (58,743) 330 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 3,555 3,756 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits (9,075) - -
Other long-term liabilities - 200 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (5,520) 3,956 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital (20,842) - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (4,418) (1,063) -
Unrealized gain in equity securities-net - - -
Retained earnings 9,776 26,843 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (15,484) 25,780 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($79,711) $13,393 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
678
MEC International B.V.
Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Latrobe Power Edison Mission
Energy Australia Partnership [8] Energy Australia
Ltd. Pilbara Power Pty
Ltd.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income
Retained earnings - beginning of year - - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
679
MEC International B.V.
Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Mission Energy
Operation & Operation & Holdings Superannu-
Maintenance Maintenance Loy ation Fund Pty Ltd
Kwinana Pty Ltd Yang Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $1,747 $9,222 -
Financial services and other -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 1,747 9,222
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - -
Other operation and maintenance 1,390 9,209 -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 1,390 9,209 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 357 13 -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 357 13 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 357 13 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 357 13 -
Retained earnings - beginning of year 677 4,637 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,034 $4,650 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
680
MEC International B.V.
Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Kwinana Power Edison Mission
(Kwinana) Pty Ltd Partnership [8] Energy Holdings
Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $64 $39,809 -
Financial services and other - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 64 39,809 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 21,095 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - -
Other operation and maintenance - 708 $4,456
Depreciation, decommissioning and
amortization 3,836 410
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 25,639 4,866
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 64 14,170 (4,866)
Interest and dividend income - 1,041 1,618
Other nonoperating income (deductions)-net (1,788) (22)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (747) 1,596
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 64 13,423 (3,270)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 7,075 9
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 7,075 9
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 64 6,348 (3,279)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 2 - 535
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 62 6,348 (3,814)
Retained earnings - beginning of year 17 9,435 (665)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $79 $15,783 ($4,479)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
681
MEC International B.V.
Loy Yang Holdings Pty Ltd
Edison Mission Energy Holdings Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Edison Mission
Adjustments Energy Holdings
Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation ($37,360) $13,482 -
Financial services and other - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (37,360) 13,482
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (21,095) - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance (256) 15,507 -
Depreciation, decommissioning and
amortization (3,736) 510 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (25,087) 16,017 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (12,273) (2,535) -
Interest and dividend income (552) 2,107 -
Other nonoperating income (deductions)-net 6,278 4,468 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 5,726 6,575 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (6,547) 4,040 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt (7,084) - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges (7,084) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (537) 4,040 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (13,677) (13,140) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 14,214 17,180 -
Retained earnings - beginning of year (4,438) 9,663 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $9,776 $26,843 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
682
MEC International B.V.
Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Latrobe Power Pty
Partnership Partnership [8] Ltd.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $57 $1,283 -
Receivables - net - 5,012 -
Fuel inventory - 4,778 -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 732 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 57 11,805 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 739,339 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 184,280 - $95,167
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 184,280 739,339 95,167
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 4,995 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 4,995 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $184,337 $756,139 $95,167
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
683
MEC International B.V.
Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Latrobe Power Pty
Adjustments Ltd Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $26,465 $27,805 -
Receivables - net 7,065 12,077 -
Fuel inventory 4,590 9,368 -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 704 1,436 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 38,824 50,686 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 551,772 1,291,111 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (279,447) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 272,325 1,291,111
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 11,350 16,345 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 11,350 16,345 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $322,499 $1,358,142 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
684
MEC International B.V.
Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Latrobe Power Pty
Partnership Partnership [8] Ltd.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $11,401 -
Current portion of long-term debt - - -
Accounts payable ($1,879) (283,049) ($10,703)
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,879) (271,648) (10,703)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 418,280 98,758
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (9) - (7,309)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - 353,905 -
Other long-term liabilities - 815 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (9) 354,720 (7,309)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 181,930 186,821 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (593) (2,632) 27,713
Unrealized gain in equity securities-net - - -
Retained earnings 4,888 70,598 (13,292)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 186,225 254,787 14,421
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $184,337 $756,139 $95,167
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
685
MEC International B.V.
Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Latrobe Power Pty
Adjustments Ltd Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt ($11,401)
Current portion of long-term debt 21,549 $21,549 -
Accounts payable (96,121) (391,752) -
Accrued taxes - - -
Accrued interest 16,535 16,535 -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (69,438) (353,668) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 423,415 940,453 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 24,361 17,043 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits 154,921 508,826 -
Other long-term liabilities (815) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 178,467 525,869 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 111,897 111,897 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital (290,398) 78,353 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (78,246) (53,758) -
Unrealized gain in equity securities-net - -
Retained earnings 46,802 108,996 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (321,842) 133,591 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $322,499 $1,358,142 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
686
MEC International B.V.
Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Latrobe Power Pty
Partnership Partnership [8] Ltd.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $55,570 $24,228
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 55,570 24,228
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 8,759 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 14,702 -
Depreciation, decommissioning and
amortization - (8,295) 24,225
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 15,166 24,225
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 40,404 3
Interest and dividend income $2 12,892 871
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 2 12,892 871
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 2 53,296 874
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 34,381 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 34,381 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 2 18,915 874
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - 9,709
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 2 18,915 (8,835)
Retained earnings - beginning of year 4,886 51,683 (4,457)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $4,888 $70,598 ($13,292)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
687
MEC International B.V.
Loy Yang Holdings Pty Ltd
Latrobe Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Latrobe Power Pty
Adjustments Ltd Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $88,882 $168,680 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 88,882 168,680 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 14,502 23,261 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 8,375 23,077 -
Depreciation, decommissioning and
amortization 12,630 28,560 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 35,507 74,898 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 53,375 93,782 -
Interest and dividend income 6,263 20,028 -
Other nonoperating income (deductions)-net 2,197 2,197
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 8,460 22,225 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 61,835 116,007 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 32,029 66,410 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 32,029 66,410 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 29,806 49,597 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 18,111 27,820
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 11,695 21,777 -
Retained earnings - beginning of year 35,107 87,219 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $46,802 $108,996 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
688
MEC International B.V.
Loy Yang Holdings Pty Ltd
Mission Energy Ventures Australia Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Mission Energy
Partnership Partnership [8] Ventures Australia
Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $57 $1,283 -
Receivables - net - 5,012 -
Fuel inventory - 4,778 -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 732 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 57 11,805 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 739,339 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 184,280 - $2,526
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 184,280 739,339 2,526
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 4,995 1,590
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 4,995 1,590
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $184,337 $756,139 $4,116
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
689
MEC International B.V.
Loy Yang Holdings Pty Ltd
Mission Energy Ventures Australia Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Mission Energy
Adjustments Ventures Australia
Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents ($1,340) - -
Receivables - net (5,012) - -
Fuel inventory (4,778) - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (732) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (11,862) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (739,339) - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (184,280) $2,526 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (923,619) 2,526
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges (4,995) 1,590 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (4,995) 1,590 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($940,476) $4,116 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
690
MEC International B.V.
Loy Yang Holdings Pty Ltd
Mission Energy Ventures Australia Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Mission Energy
Partnership Partnership [8] Ventures Australia
Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $11,401 -
Current portion of long-term debt - - -
Accounts payable ($1,879) (283,049) ($158)
Accrued taxes - - (76)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,879) (271,648) (234)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 418,280 2,459
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (9) - 1,441
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - 353,905 -
Other long-term liabilities - 815 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (9) 354,720 1,441
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 181,930 186,821 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (593) (2,632) 114
Unrealized gain in equity securities-net - -
Retained earnings 4,888 70,598 336
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 186,225 254,787 450
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $184,337 $756,139 $4,116
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
691
MEC International B.V.
Loy Yang Holdings Pty Ltd
Mission Energy Ventures Australia Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Mission Energy
Adjustments Ventures Australia
Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt ($11,401) - -
Current portion of long-term debt - - -
Accounts payable 284,928 ($158) -
Accrued taxes - (76) -
Accrued interest - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 273,527 (234) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (418,280) 2,459 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 9 1,441 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits (353,905) - -
Other long-term liabilities (815) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (354,711) 1,441 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - -
Additional paid-in capital (368,751) - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 3,225 114 -
Unrealized gain in equity securities-net - -
Retained earnings (75,486) 336 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (441,012) 450 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($940,476) $4,116 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
692
MEC International B.V.
Loy Yang Holdings Pty Ltd
Mission Energy Ventures Australia Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Mission Energy
Partnership Partnership [8] Ventures Australia
Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $55,570 $187
Financial services and other - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 55,570 187
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 8,759 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net
Other operation and maintenance - 14,702 -
Depreciation, decommissioning and
amortization - (8,295)
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 15,166 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 40,404 187
Interest and dividend income $2 12,892 15
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 2 12,892 15
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 2 53,296 202
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 34,381 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 34,381 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 2 18,915 202
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - 217
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 2 18,915 (15)
Retained earnings - beginning of year 4,886 51,683 351
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $4,888 $70,598 $336
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
693
MEC International B.V.
Loy Yang Holdings Pty Ltd
Mission Energy Ventures Australia Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Mission Energy
Adjustments Ventures Australia
Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation ($55,570) $187 -
Financial services and other - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (55,570) 187 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (8,759) - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance (14,702) - -
Depreciation, decommissioning and
amortization 8,295 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (15,166) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (40,404) 187 -
Interest and dividend income (12,894) 15 -
Other nonoperating income (deductions)-net
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (12,894) 15 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (53,298) 202 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt (34,381) - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges (34,381) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (18,917) 202 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 217 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (18,917) (15) -
Retained earnings - beginning of year (56,569) 351 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($75,486) $336 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
694
MEC International B.V.
Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Traralgon Power
Partnership Partnership [8] Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $57 $1,283 -
Receivables - net - 5,012 -
Fuel inventory - 4,778 -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 732 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 57 11,805 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 739,339 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 184,280 - $84,936
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 184,280 739,339 84,936
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 4,995 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 4,995 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $184,337 $756,139 $84,936
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
695
MEC International B.V.
Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Traralgon Power
Adjustments Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents ($1,340) - -
Receivables - net (5,012) - -
Fuel inventory (4,778) - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (732) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (11,862) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (739,339) - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (184,280) $84,936 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (923,619) 84,936 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges (4,995) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (4,995) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($940,476) $84,936 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
696
MEC International B.V.
Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Traralgon Power
Partnership Partnership [8] Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $11,401 -
Current portion of long-term debt - - -
Accounts payable ($1,879) (283,049) ($11,153)
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,879) (271,648) (11,153)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 418,280 133,068
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (9) - (6,883)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - 353,905 -
Other long-term liabilities - 815 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (9) 354,720 (6,883)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 181,930 186,821 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (593) (2,632) (20,198)
Unrealized gain in equity securities-net - -
Retained earnings 4,888 70,598 (9,898)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 186,225 254,787 (30,096)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $184,337 $756,139 $84,936
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
697
MEC International B.V.
Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Traralgon Power
Adjustments Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt ($11,401) - -
Current portion of long-term debt - - -
Accounts payable 284,928 ($11,153) -
Accrued taxes - - -
Accrued interest - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 273,527 (11,153) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (418,280) 133,068 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 9 (6,883) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits (353,905) - -
Other long-term liabilities (815) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (354,711) (6,883) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - -
Additional paid-in capital (368,751)
Accumulated other comprehensive income:
Cumulative translation adjustments - net 3,225 (20,198) -
Unrealized gain in equity securities-net - -
Retained earnings (75,486) (9,898) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (441,012) (30,096) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($940,476) $84,936 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
698
MEC International B.V.
Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Traralgon Power
Partnership Partnership [8] Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $55,570 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 55,570 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 8,759 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 14,702 -
Depreciation, decommissioning and
amortization - (8,295)
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 15,166 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 40,404 -
Interest and dividend income $2 12,892 $853
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 2 12,892 853
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 2 53,296 853
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 34,381 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 34,381 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 2 18,915 853
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 8,364
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 2 18,915 (7,511)
Retained earnings - beginning of year 4,886 51,683 (2,387)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $4,888 $70,598 ($9,898)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
699
MEC International B.V.
Loy Yang Holdings Pty Ltd
Traralgon Power Pty Ltd and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Traralgon Power
Adjustments Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation ($55,570) - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (55,570) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (8,759) - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance (14,702) - -
Depreciation, decommissioning and
amortization 8,295 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (15,166) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (40,404) - -
Interest and dividend income (12,894) $853 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (12,894) 853 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (53,2980) 853 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt (34,381) - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges (34,381) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (18,917) 853 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 8,364
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (18,917) (7,511) -
Retained earnings - beginning of year (56,569) (2,387) -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($75,486) ($9,898) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
700
MEC International B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Doga Enerji Uretim Doga Isi Satis Doga Isletme ve
Sanayi ve Ticaret Hizmetleri ve Bakim Ticaret L.S.
L.S. Ticaret L.S.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $10,596 $108 -
Receivables - net 13,062 92 $1
Fuel inventory 2,973 - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 1,256 2 25
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 27,887 202 26
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 136,599 - 28
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 136,599 - 28
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 16,960 - 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 16,960 - 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $181,446 $202 $55
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
701
MEC International B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Esenyurt B.V. Consolidating MEC Esenyurt B.V.
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $24 ($108) $10,620
Receivables - net - (93) 13,062
Fuel inventory - - 2,973
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - (27) 1,256
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 24 (228) 27,911
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 9,339 (27) 145,939
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 100 (100) -
Investments in leveraged leases - - -
Other investments 34,749 (34,749) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 44,188 (34,876) 145,939
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 393 (2) 17,352
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 393 (2) 17,352
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $44,605 ($35,106) $191,202
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
702
MEC International B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Doga Enerji Uretim Doga Isi Satis Doga Isletme ve
Sanayi ve Ticaret Hizmetleri ve Bakim Ticaret L.S.
L.S. Ticaret L.S.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $11,547 - -
Accounts payable 9,142 $220 $987
Accrued taxes 1,072 1 26
Accrued interest 93 - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - 2
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 21,854 221 1,015
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 114,144 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits 4,129 - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 4,129 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 254 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 224 59 59
Additional paid-in capital 43,343 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (3,517) (53) (476)
Unrealized gain in equity securities-net - - -
Retained earnings 1,015 (25) (543)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 41,065 (19) (960)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $181,446 $202 $55
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
703
MEC International B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Esenyurt B.V. Consolidating MEC Esenyurt B.V.
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - $11,547
Accounts payable $7,641 ($1,208) 16,782
Accrued taxes (89) (27) 983
Accrued interest - - 93
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - (2) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 7,552 (1,237) 29,405
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - 114,144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - 4,129
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - 4,129
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - 254
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 30 (297) 75
Additional paid-in capital 37,088 (34,674) 45,756
Accumulated other comprehensive income:
Cumulative translation adjustments - net - 535 (3,511)
Unrealized gain in equity securities-net - - -
Retained earnings (64) 567 950
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 37,053 (33,869) 43,270
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $44,605 ($35,106) $191,202
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
704
MEC International B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Doga Enerji Uretim Doga Isi Satis Doga Isletme ve
Sanayi ve Ticaret Hizmetleri ve Bakim Ticaret L.S.
L.S. Ticaret L.S.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $37,999 $261 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 37,999 261 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 20,028 261 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 8,252 44 $879
Depreciation, decommissioning and
amortization 3,815 - 2
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 32,095 305 881
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 5,904 (44) (881)
Interest and dividend income 36 - -
Other nonoperating income (deductions)-net (1,530) 19 338
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (1,494) 19 338
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 4,410 (25) (543)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 6,758 - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 6,758 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (2,348) (25) (543)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (3,362)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 1,014 (25) (543)
Retained earnings - beginning of year 1 - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $1,015 ($25) ($543)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
705
MEC International B.V.
MEC Esenyurt B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Esenyurt B.V. Consolidating MEC Esenyurt B.V.
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - ($261) $37,999
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - (261) 37,999
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - (261) 20,028
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - (923) 8,252
Depreciation, decommissioning and
amortization $267 (2) 4,082
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 267 (1,186) 32,362
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (267) 925 5,637
Interest and dividend income 1 - 37
Other nonoperating income (deductions)-net 77 (357) (1,453)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 78 (357) (1,416)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (189) 568 4,221
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - 6,758
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - 6,758
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (189) 568 (2,537)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (66) - (3,428)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (123) 568 891
Retained earnings - beginning of year 58 (1) 58
Dividends declared on common stock 1 - 1
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($64) $567 $950
============================================================= ==================== ==================== ====================
</TABLE>
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission MEC Esenyurt B.V. Doga Enerji Uretim
Energy Consolidated Sanayi ve Ticaret
International B.V. L.S. [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $17 $10,620 $10,596
Receivables - net - 13,062 13,062
Fuel inventory - 2,973 2,973
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 1,256 1,256
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 17 27,911 27,887
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 145,939 136,599
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 145,939 136,599
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 17,352 16,959
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 17,352 16,959
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $17 $191,202 $181,445
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
707
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Doga Isi Satis Doga Isletme ve MEC IES B.V.
Hizmetleri ve Bakim Ticaret L.S.
Ticaret L.S. [7] [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $108 - $97
Receivables - net 92 $1 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 2 25 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 202 26 97
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 28 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - (83)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 28 (83)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 1 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 1 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $202 $55 $14
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
708
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
ISAB Energy MEC India B.V. Edison Mission
Services s.r.l. [7] Energy Power [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $18 -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 18 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $18 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
709
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Indo Coal B.V. MEC Indonesia B.V. MEC Laguna Power
B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $294 $22 -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 294 22 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 23,832 127,057 $4,268
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 23,832 127,057 4,268
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 23 978 43
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 23 978 43
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $24,149 $128,057 $4,311
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
710
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Gulf Power MEC Perth B.V.
Generation Co.
Ltd. [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $5,929 -
Receivables - net - 2,416 -
Fuel inventory - 1,809 -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 203 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 10,357 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 77,230 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 77,230 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 2,668 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 2,668 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $90,255 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
711
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Priolo B.V. MEC San Pascual MEC Sidi Krir B.V.
B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $30 - $17
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 30 - 17
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 18,843 $4,590 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 18,843 4,590 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 111 45 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 111 45 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $18,984 $4,635 $17
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
712
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Sumatra B.V. MEC Wales B.V. Mission Energy
Consolidated Italia s.r.l.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $16 $24,244 $134
Receivables - net - 44,835 247
Fuel inventory - - -
Materials and supplies, at average cost - 1,625 -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 21,135 147
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 16 91,839 528
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 1,036,216 197
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - (25,049) -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 1,011,167 197
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 321,613 18
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 321,613 18
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $16 $1,424,619 $743
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
713
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
P.T. Edison MEC International Consolidating
Mission Operation Holdings B.V. Adjustments
and Maintenance
Indonesia
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $1,815 $44 ($53,967)
Receivables - net 328 - (74,043)
Fuel inventory - - (7,755)
Materials and supplies, at average cost - - (1,625)
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 59 - (24,083)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 2,202 44 (161,473)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 6 - (1,396,215)
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 5,407 (153,570)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 6 5,407 (1,549,785)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - (359,811)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - (359,811)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $2,208 $5,451 ($2,071,069)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
714
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC International
Holdings B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C>
Cash and equivalents $34
Receivables - net -
Fuel inventory -
Materials and supplies, at average cost -
Accumulated deferred income taxes - net -
Regulatory balancing accounts - net -
Prepayments and other current assets -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 34
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net -
Nuclear decommissioning trusts -
Investments in partnerships
and unconsolidated subsidiaries 5,295
Investments in leveraged leases -
Other investments -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 5,295
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution -
Generation -
Accumulated provision for depreciation
and decommissioning -
Construction work in progress -
Nuclear fuel, at amortized cost -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net -
Income tax-related deferred charges -
Regulatory balancing accounts - net -
Unamortized debt issuance and
reacquisition expense -
Other deferred charges -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $5,329
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
715
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission MEC Esenyurt B.V. Doga Enerji Uretim
Energy Consolidated Sanayi ve Ticaret
International B.V. L.S. [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $11,547 $11,547
Accounts payable ($252) 16,782 9,141
Accrued taxes - 983 1,072
Accrued interest 14 93 93
Dividends payable - - -
Regulatory balancing accounts-net -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (238) 29,405 21,853
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 114,144 114,144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - 4,129 4,129
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 4,129 4,129
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 254 254
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 26 75 224
Additional paid-in capital 209 45,756 43,343
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (3,511) (3,517)
Unrealized gain in equity securities-net - - -
Retained earnings 20 950 1,015
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 255 43,270 41,065
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $17 $191,202 $181,445
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
716
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Doga Isi Satis Doga Isletme ve MEC IES B.V.
Hizmetleri ve Bakim Ticaret L.S.
Ticaret L.S. [7] [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $220 $987 $203
Accrued taxes 1 26 (106)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - -
Deferred unbilled revenue and other
current liabilities - 2 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 221 1,015 97
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 59 59 25
Additional paid-in capital - - 92
Accumulated other comprehensive income:
Cumulative translation adjustments - net (53) (476) -
Unrealized gain in equity securities-net - -
Retained earnings (25) (543) (200)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (19) (960) (83)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $202 $55 $14
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
717
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
ISAB Energy MEC India B.V. Edison Mission
Services s.r.l. [7] Energy Power [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - $32 -
Accrued taxes - (12) -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 20 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 23 -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - (25) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - (2) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $18 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
718
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Indo Coal B.V. MEC Indonesia B.V. MEC Laguna Power
B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $11 $16 $67
Accrued taxes 60 (57) (11)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 71 (41) 56
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 3,037 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 3,037 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 22 21 23
Additional paid-in capital 15,826 126,849 4,252
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 5,193 1,228 (20)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 21,041 128,098 4,255
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $24,149 $128,057 $4,311
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
719
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Gulf Power MEC Perth B.V.
Generation Co.
Ltd. [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $3,709 -
Accounts payable - (28,920) -
Accrued taxes - - -
Accrued interest - 3,097 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - (22,114) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 82,719 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 11,040 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - 9,743 -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 20,783 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 372 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 23 -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (3,709) -
Unrealized gain in equity securities-net - -
Retained earnings - 12,181 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 8,495 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $90,255 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
720
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Priolo B.V. MEC San Pascual MEC Sidi Krir B.V.
B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($1,313) $57 $24
Accrued taxes 159 (11) (10)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,154) 46 14
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 21 23 26
Additional paid-in capital 20,457 4,590 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 189 - -
Unrealized gain in equity securities-net - - -
Retained earnings (529) (24) (23)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 20,138 4,589 3
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $18,984 $4,635 $17
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
721
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Sumatra B.V. MEC Wales B.V. Mission Energy
Consolidated Italia s.r.l.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $24 ($190,629) $343
Accrued taxes (10) (1,633) 127
Accrued interest - 9,722 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 14 (182,540) 470
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 674,234 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 262,403 -
Accumulated deferred investment - - -
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 30,680 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 293,083 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 106,060 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 26 276,698 14
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (43,356) -
Unrealized gain in equity securities-net - -
Retained earnings (24) 300,440 259
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2 533,782 273
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $16 $1,424,619 $743
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
722
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
P.T. Edison MEC International Consolidating
Mission Operation Holdings B.V. Adjustments
and Maintenance
Indonesia
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - ($26,803)
Accounts payable - $19 193,215
Accrued taxes $272 (17) (847)
Accrued interest - - (13,019)
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities 37 - (39)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 309 2 152,507
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - (985,241)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - (276,480)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - (18,001)
Other long-term liabilities - - (30,680)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - (325,161)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - (106,940)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 21 (277,388)
Additional paid-in capital 1,500 4,915 (263,008)
Accumulated other comprehensive income:
Cumulative translation adjustments - net (562) - 54,995
Unrealized gain in equity securities-net - -
Retained earnings 961 513 (320,833)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,899 5,449 (806,234)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $2,208 $5,451 ($2,071,069)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
723
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC International
Holdings B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $27 - -
Accrued taxes (14) - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 13 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 21 - -
Additional paid-in capital 4,781 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net -
Retained earnings 514 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 5,316 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $5,329 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
724
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission MEC Esenyurt B.V. Doga Enerji Uretim
Energy Consolidated Sanayi ve Ticaret
International B.V. L.S. [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $37,999 $37,999
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 37,999 37,999
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 20,027 20,027
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 8,253 8,253
Depreciation, decommissioning and
amortization - 4,082 3,815
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 32,362 32,095
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 5,637 5,904
Interest and dividend income - 37 36
Other nonoperating income (deductions)-net ($4) (1,453) (1,530)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (4) (1,416) (1,494)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (4) 4,221 4,410
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 6,758 6,758
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 6,758 6,758
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (4) (2,537) (2,348)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (1) (3,428) (3,362)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (3) 891 1,014
Retained earnings - beginning of year 23 59 1
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $20 $950 $1,015
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
725
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Doga Isi Satis Doga Isletme ve MEC IES B.V.
Hizmetleri ve Bakim Ticaret L.S.
Ticaret L.S. [7] [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $261 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 261 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 261 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 44 $879 -
Depreciation, decommissioning and
amortization - 2 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 305 881 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (44) (881) -
Interest and dividend income - - -
Other nonoperating income (deductions)-net 19 338 ($101)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 19 338 (101)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (25) (543) (101)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (25) (543) (101)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (35)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (25) (543) (66)
Retained earnings - beginning of year - - (134)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($25) ($543) ($200)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
726
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
ISAB Energy MEC India B.V. Edison Mission
Services s.r.l. [7] Energy Power [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - ($8) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (8) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (8) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (8) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (3) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - (5) -
Retained earnings - beginning of year - (20) -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($25) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
727
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Indo Coal B.V. MEC Indonesia B.V. MEC Laguna Power
B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $2,010 $1,363 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 2,010 1,363 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization 624 28 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 624 28 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 1,386 1,335 -
Interest and dividend income 73 - -
Other nonoperating income (deductions)-net 315 (7) ($5)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 388 (7) (5)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 1,774 1,328 (5)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 1,774 1,328 (5)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 624 (12) (2)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 1,150 1,340 (3)
Retained earnings - beginning of year 4,043 (112) (17)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $5,193 $1,228 ($20)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
728
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Gulf Power MEC Perth B.V. Kwinana Power
Generation Co. Partnership [7]
Ltd. [7]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $39,808 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 39,808 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 21,095 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 708 -
Depreciation, decommissioning and
amortization - 3,838 -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 25,641 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 14,167 -
Interest and dividend income - 1,041 -
Other nonoperating income (deductions)-net - (2,445) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (1,404) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 12,763 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 7,075 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 7,075 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - (63) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - 5,625 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (12) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - 5,637 -
Retained earnings - beginning of year - 6,544 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - $12,181 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
729
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Priolo B.V. MEC San Pascual MEC Sidi Krir B.V.
B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes $255 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 255 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (255) - -
Interest and dividend income 31 - -
Other nonoperating income (deductions)-net 156 ($8) ($8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 187 (8) (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (68) (8) (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (68) (8) (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (24) (3) (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (44) (5) (5)
Retained earnings - beginning of year (485) (19) (18)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($529) ($24) ($23)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
730
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Sumatra B.V. MEC Wales B.V. Mission Energy
Consolidated Italia s.r.l.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $344,144 $1,908
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 344,144 1,908
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 85,980 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 57,215 1,715
Depreciation, decommissioning and
amortization - 23,661 46
Property and other taxes - 17,042 -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 183,898 1,761
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 160,246 147
Interest and dividend income - 13,115 -
Other nonoperating income (deductions)-net ($7) (35) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (7) 13,080 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (7) 173,326 147
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 59,420 -
Other interest expense - net - 749 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 60,169 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - (25,338) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (7) 87,819 147
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (3) (14,939) 81
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (4) 102,758 66
Retained earnings - beginning of year (20) 1,500 193
Dividends declared on common stock - 196,182 -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($24) $300,440 $259
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
731
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
P.T. Edison MEC International Consolidating
Mission Operation Holdings B.V. Adjustments
and Maintenance
Indonesia
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $5,120 - ($470,605)
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 5,120 - (470,605)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - (147,390)
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 4,553 - (81,620)
Depreciation, decommissioning and
amortization 10 - (36,104)
Property and other taxes - - (17,297)
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 4,563 - (282,411)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 557 - (188,194)
Interest and dividend income - - (14,333)
Other nonoperating income (deductions)-net 69 - 4,704
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 69 - (9,629)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 626 - (197,823)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt (71) - (79,940)
Other interest expense - net - - (749)
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges (71) - (80,689)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - 25,401
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 697 - (91,733)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 336 ($2) 20,787
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 361 2 (112,520)
Retained earnings - beginning of year 600 511 (12,131)
Dividends declared on common stock - - ($196,182)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $961 $513 ($320,833)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
732
MEC International B.V.
MEC International Holdings B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC International
Holdings B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $7 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 7 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization 2 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 2 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 5 - -
Interest and dividend income - -
Other nonoperating income (deductions)-net (10) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (10) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (5) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (5) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (1) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (4)
Retained earnings - beginning of year 518 - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $514 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
733
MEC International B.V.
MEC International Holdings B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
San Pascual Morningstar MEC San Pascual
Cogeneration Holdings B.V. B.V.
Company
International B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - $4,590
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 4,590
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 45
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 45
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - $4,635
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
734
MEC International B.V.
MEC International Holdings B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating MEC San Pascual
Adjustments B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - $4,590 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 4,590 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 45 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 45 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $4,635 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
735
MEC International B.V.
MEC International Holdings B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
San Pascual Morningstar MEC San Pascual
Cogeneration Holdings B.V. B.V.
Company
International B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - - $57
Accrued taxes - - (11)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - - 46
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 23
Additional paid-in capital 4,590
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings - - (24)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - - 4,589
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - $4,635
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
736
MEC International B.V.
MEC International Holdings B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating MEC San Pascual
Adjustments B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - $57 -
Accrued taxes - (11) -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 46 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 23 -
Additional paid-in capital 4,590
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - (24) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 4,589 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $4,635 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
737
MEC International B.V.
MEC International Holdings B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
San Pascual Morningstar MEC San Pascual
Cogeneration Holdings B.V. B.V.
Company
International B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - ($8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (5)
Retained earnings - beginning of year - - (19)
Dividends declared on common stock - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - - ($24)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
738
MEC International B.V.
MEC International Holdings B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating MEC San Pascual
Adjustments B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - ($8) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (8) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (8) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (8) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (3) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (5)
Retained earnings - beginning of year - (19) -
Dividends declared on common stock - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($24) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
739
MEC International B.V.
MEC International Holdings B.V.
MEC Wales B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro MEC Wales B.V. Consolidating
Limited Adjustments
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $80,722 $163 ($56,641)
Receivables - net 44,834 - -
Fuel inventory - - -
Materials and supplies, at average cost 1,625 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 21,135 6,167 (6,167)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 148,316 6,330 (62,808)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,036,216 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (79,085) 164,223 (110,187)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 957,131 164,223 (110,187)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 319,761 1,852 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 319,761 1,852 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,425,208 $172,405 ($172,995)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
740
MEC International B.V.
MEC International Holdings B.V.
MEC Wales B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Wales B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $24,244 - -
Receivables - net 44,834 - -
Fuel inventory - - -
Materials and supplies, at average cost 1,625 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 21,135 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 91,838 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,036,216 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (25,049) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,011,167
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 321,613 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 321,613 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,424,618 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
741
MEC International B.V.
MEC International Holdings B.V.
MEC Wales B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro MEC Wales B.V. Consolidating
Limited Adjustments
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $13,955 ($204,584) -
Accrued taxes (662) 5,196 ($6,167)
Accrued interest 24,880 (15,158) -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 38,173 (214,546) (6,167)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 674,234 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 262,402 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 30,680 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 293,082 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 106,060 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 276,698 26 (26)
Additional paid-in capital - 276,698 (276,698)
Accumulated other comprehensive income:
Cumulative translation adjustments - net (43,480) 35,352 (35,228)
Unrealized gain in equity securities-net - -
Retained earnings 80,441 74,875 145,124
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 313,659 386,951 (166,828)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,425,208 $172,405 ($172,995)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
742
MEC International B.V.
MEC International Holdings B.V.
MEC Wales B.V. and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Wales B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($190,629) - -
Accrued taxes (1,633) - -
Accrued interest 9,722 - -
Dividends payable - - -
Regulatory balancing accounts-net -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (182,540) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 674,234 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 262,402 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 30,680 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 293,082 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 106,060 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 276,698 - -
Additional paid-in capital -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (43,356) - -
Unrealized gain in equity securities-net - -
Retained earnings 300,440 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 533,782 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,424,618 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
743
MEC International B.V.
MEC International Holdings B.V.
MEC Wales B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro MEC Wales B.V. Consolidating
Limited Adjustments
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $330,751 $13,393 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 330,751 13,393 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 85,980 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 57,215 - -
Depreciation, decommissioning and
amortization 23,610 51 -
Property and other taxes 17,042 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 183,847 51 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 146,904 13,342 -
Interest and dividend income 3,908 9,207 -
Other nonoperating income (deductions)-net - (35) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 3,908 9,172 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 150,812 22,514 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 59,420 - -
Other interest expense - net 749 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 60,169 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (25,338) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 65,305 22,514 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (18,131) 3,192 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 83,436 19,322 -
Retained earnings - beginning of year (2,995) 55,553 ($51,058)
Dividends declared on common stock - - 196,182
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $80,441 $74,875 $145,124
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
744
MEC International B.V.
MEC International Holdings B.V.
MEC Wales B.V. and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Wales B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $344,144 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 344,144 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 85,980 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 57,215 - -
Depreciation, decommissioning and
amortization 23,661 - -
Property and other taxes 17,042 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 183,898 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 160,246 - -
Interest and dividend income 13,115 - -
Other nonoperating income (deductions)-net (35) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 13,080 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 173,326 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 59,420 - -
Other interest expense - net 749 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 60,169 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (25,338) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 87,819 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (14,939) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 102,758
Retained earnings - beginning of year 1,500 - -
Dividends declared on common stock 196,182 - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $300,440 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
745
MEC International B.V.
MEC International Holdings B.V., MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $80,722 -
Receivables - net - 44,834 -
Fuel inventory - - -
Materials and supplies, at average cost - 1,625 -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 21,135 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 148,316 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 1,036,216 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - (79,085) -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 957,131
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges $65,550 319,761 ($65,550)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 65,550 319,761 (65,550)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $65,550 $1,425,208 ($65,550)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
746
MEC International B.V.
MEC International Holdings B.V., MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro
Limited
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $80,722 - -
Receivables - net 44,834 - -
Fuel inventory - - -
Materials and supplies, at average cost 1,625 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 21,135 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 148,316 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,036,216 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (79,085) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 957,131
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 319,761 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 319,761 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,425,208 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
747
MEC International B.V.
MEC International Holdings B.V., MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $144 $13,955 ($144)
Accrued taxes - (662) -
Accrued interest - 24,880 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 144 38,173 (144)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 65,550 674,234 (65,550)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 262,402 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 30,680 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 293,082 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 106,060 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 276,698 -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (43,480) -
Unrealized gain in equity securities-net - -
Retained earnings (144) 80,441 144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (144) 313,659 144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $65,550 $1,425,208 ($65,550)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
748
MEC International B.V.
MEC International Holdings B.V., MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro
Limited
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $13,955 - -
Accrued taxes (662) - -
Accrued interest 24,880 - -
Dividends payable - - -
Regulatory balancing accounts-net -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 38,173 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 674,234 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 262,402 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 30,680 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 293,082 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 106,060 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 276,698 - -
Additional paid-in capital -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (43,480) - -
Unrealized gain in equity securities-net - -
Retained earnings 80,441 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 313,659 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,425,208 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
749
MEC International B.V.
MEC International Holdings B.V., MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $330,751 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 330,751 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 85,980 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $83 57,215 ($83)
Depreciation, decommissioning and
amortization - 23,610 -
Property and other taxes - 17,042 -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 83 183,847 (83)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (83) 146,904 83
Interest and dividend income - 3,908 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 3,908 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (83) 10,812 83
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 9 59,420 (9)
Other interest expense - net - 749 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 9 60,169 (9)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - (25,338) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (92) 65,305 92
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (18,131) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (92) 83,436 92
Retained earnings - beginning of year (52) (2,995) 52
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($144) $80,441 $144
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
750
MEC International B.V.
MEC International Holdings B.V., MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro
Limited
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $330,751 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 330,751 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 85,980 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 57,215 - -
Depreciation, decommissioning and
amortization 23,610 - -
Property and other taxes 17,042 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 183,847 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 146,904 - -
Interest and dividend income 3,908 - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 3,908 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 150,812 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 59,420 - -
Other interest expense - net 749 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 60,169 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (25,338) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 65,305 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (18,131) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 83,436
Retained earnings - beginning of year (2,995) - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $80,441 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
751
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [10] [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - $822,653 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 822,653 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $822,653 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
752
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [10] [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - $822,653 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 822,653 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges $65,550 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 65,550 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $65,550 $822,653 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
753
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [10] Venture [11]
Australia Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $26,465 $27,748
Receivables - net - 7,065 12,077
Fuel inventory - 4,590 9,368
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 703 1,436
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 38,823 50,629
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 594,380 1,333,718
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 822,653
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 594,380 2,156,371
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 11,533 16,527
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 11,533 16,527
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $644,736 $2,223,527
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
754
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [10] Holdings Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - $1
Receivables - net - - 5,542
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - 5,543
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $822,653 - 988,796
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 822,653 988,796
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 16,829
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 16,829
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $822,653 - $1,011,168
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
755
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro First Hydro First Hydro
Company [10] Finance plc [10] Company [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $24,025 $638
Receivables - net 42,508 55,321
Fuel inventory - -
Materials and supplies, at average cost 1,625 -
Accumulated deferred income taxes - net - -
Regulatory balancing accounts - net - -
Prepayments and other current assets 21,135 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 89,293 55,959
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 758,411 -
Nuclear decommissioning trusts - -
Investments in partnerships
and unconsolidated subsidiaries 161,336 29,314
Investments in leveraged leases - -
Other investments - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 919,747 29,314
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - -
Generation - -
Accumulated provision for depreciation
and decommissioning - -
Construction work in progress - -
Nuclear fuel, at amortized cost - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - -
Income tax-related deferred charges - -
Regulatory balancing accounts - net - -
Unamortized debt issuance and
reacquisition expense - -
Other deferred charges - 170
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 170
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,009,040 $85,443
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
756
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - ($78,877) -
Receivables - net - (122,513) -
Fuel inventory - (13,958) -
Materials and supplies, at average cost - (1,625) -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - (23,274) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - (240,247) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - (2,686,509) -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - (4,470,058) -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (7,156,567) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - (45,059) $65,550
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - (45,059) 65,550
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - ($7,441,873) $65,550
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
757
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [10] [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $21,549 ($21,549)
Current portion of long-term debt - 49 -
Accounts payable - 178,769 (195,347)
Accrued taxes - - -
Accrued interest - 16,535 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 216,902 (216,896)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 784,255 (784,255)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (2) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (2) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 822,653
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - 1,692 (1,812)
Unrealized gain in equity securities-net - -
Retained earnings - (180,194) 180,310
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - (178,502) $1,001,151
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $822,653 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
758
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [10] [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $21,549 -
Current portion of long-term debt - 49 -
Accounts payable $506 178,769 -
Accrued taxes - - -
Accrued interest - 16,535 -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 506 216,902 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 65,550 784,255 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (2) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (2) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 86 1,692 -
Unrealized gain in equity securities-net - -
Retained earnings (592) (180,194) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (506) (178,502) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $65,550 $822,653 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
759
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [10] Venture [11]
Australia Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $10,147 $21,549
Current portion of long-term debt - - -
Accounts payable - (82,895) (382,474)
Accrued taxes - - -
Accrued interest - - 16,535
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - (72,748) (344,390)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 438,081 856,360
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 24,362 24,361
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 155,146 509,866
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 179,508 534,227
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 42,608 865,260
Additional paid-in capital - - 186,821
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (1,577) (5,101)
Unrealized gain in equity securities-net - - -
Retained earnings - 58,864 130,350
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 99,895 1,177,330
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $644,736 $2,223,527
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
760
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [10] Holdings Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $21,549 - -
Current portion of long-term debt 49 - -
Accounts payable 178,769 - $7,928
Accrued taxes - - -
Accrued interest 16,535 - 24,142
Dividends payable - - -
Regulatory balancing accounts-net - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 216,902 - 32,070
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 784,255 - 806,345
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2) - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (2) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 181,987
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 1,692 - 13,117
Unrealized gain in equity securities-net - -
Retained earnings (180,194) - (22,351)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (178,502) - 172,753
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $822,653 - $1,011,168
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
761
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro First Hydro First Hydro
Company [10] Finance plc [10] Company [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $29,034 -
Accounts payable $17,613 51 -
Accrued taxes (662) - -
Accrued interest 2 24,878 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 16,953 53,963 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (7,713) 7,791 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (121) - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 30,680 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 30,559 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 605,585 19 -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 124,519 20,422 -
Unrealized gain in equity securities-net - - -
Retained earnings 239,137 3,248 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 969,241 23,689 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,009,040 $85,443 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
762
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - ($74,794) -
Current portion of long-term debt - (29,181) -
Accounts payable - 98,455 $144
Accrued taxes - 662 -
Accrued interest - (115,162) -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - (120,020) 144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - (3,669,374) 65,550
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (48,596) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - (695,692) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (744,288) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - (2,518,112) -
Additional paid-in capital (186,821)
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (154,730) -
Unrealized gain in equity securities-net - -
Retained earnings - (48,528) (144)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - (2,908,191) (144)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - ($7,441,873) $65,550
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
763
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [10] [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - $125 $64,763
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 125 64,763
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 125 64,763
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 64,960 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 64,960 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (64,835) 64,763
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - (64,835) 64,763
Retained earnings - beginning of year - (115,359) 115,547
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($180,194) $180,310
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
764
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [10] [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $212 - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 212 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (212) - -
Interest and dividend income - $125 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 125 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (212) 125 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 678 64,960 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 678 64,960 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (890) (64,835) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (890) (64,835) -
Retained earnings - beginning of year 298 (115,359) -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($592) ($180,194) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
765
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [10] Venture [11]
Australia Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $88,882 $168,680
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 88,882 168,680
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 11,516 23,501
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 11,070 22,547
Depreciation, decommissioning and
amortization - 13,360 29,270
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 35,946 75,338
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 52,936 93,342
Interest and dividend income - 5,390 83,170
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 5,390 83,170
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 58,326 176,512
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 30,652 129,993
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 30,652 129,993
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - 27,674 46,519
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - 4,017 4,017
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - 23,657 42,502
Retained earnings - beginning of year - 35,207 87,848
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - $58,864 $130,350
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
766
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [10] Holdings Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - $246
Depreciation, decommissioning and
amortization - - 8,933
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - 9,179
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - (9,179)
Interest and dividend income $125 - 200
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 125 - 200
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 125 - (8,979)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 64,960 - 59,655
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 64,960 - 59,655
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (64,835) - (68,634)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - (22,023)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (64,835) - (46,611)
Retained earnings - beginning of year (115,359) - 24,260
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($180,194) - ($22,351)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
767
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro First Hydro First Hydro
Company [10] Finance plc [10] Company [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $338,315 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 338,315 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,873 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 58,181 $82 -
Depreciation, decommissioning and
amortization 11,647 - -
Property and other taxes 17,063 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 174,764 82 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 163,551 (82) -
Interest and dividend income 2,142 61,184 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 2,142 61,184 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 165,693 61,102 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 59,655 -
Other interest expense - net 118 1,855 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 118 61,510 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 165,575 (408) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 52,359 (83) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 113,216 (325) -
Retained earnings - beginning of year 125,921 3,573 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $239,137 $3,248 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
768
MEC International B.V., MEC International Holdings B.V.,
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - ($595,877) -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - (595,877) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - (122,890) -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - (92,255) $83
Depreciation, decommissioning and
amortization - (63,230) -
Property and other taxes - (17,063) -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - (295,438) 83
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - (300,439) (83)
Interest and dividend income - (217,224) -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (217,224) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (517,663) (83)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - (475,504) 9
Other interest expense - net - (1,973) -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - (477,477) 9
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (40,186) (92)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (38,287) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1,899) (92)
Retained earnings - beginning of year - (46,629) (52)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($48,528) ($144)
============================================================= ==================== ==================== ====================
</TABLE>
MEC International B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
San Pascual Morningstar MEC San Pascual
Cogeneration Holdings B.V. B.V.
Company
International B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - $4,590
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 4,590
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 45
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 45
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - - $4,635
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
770
MEC International B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating MEC San Pascual
Adjustments B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - $4,590 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 4,590 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 45 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 45 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $4,635 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
771
MEC International B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
San Pascual Morningstar MEC San Pascual
Cogeneration Holdings B.V. B.V.
Company
International B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - - $57
Accrued taxes - - (11)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - - 46
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 23
Additional paid-in capital 4,590
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings - - (24)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - - 4,589
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - - $4,635
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
772
MEC International B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating MEC San Pascual
Adjustments B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - $57 -
Accrued taxes - (11) -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 46 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 23 -
Additional paid-in capital 4,590
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings - (24) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 4,589 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $4,635 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
773
MEC International B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
San Pascual Morningstar MEC San Pascual
Cogeneration Holdings B.V. B.V.
Company
International B.V.
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - - ($8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - - (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - - (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - - (8)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - (3)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income -
Retained earnings - beginning of year - - (5)
Dividends declared on common stock - - (19)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - - ($24)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
774
MEC International B.V.
MEC San Pascual B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating MEC San Pascual
Adjustments B.V. Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - ($8) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (8) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (8) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (8) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (3) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income -
Retained earnings - beginning of year - (5) -
Dividends declared on common stock - (19) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($24) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
775
MEC International B.V.
MEC Wales B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro MEC Wales B.V. Consolidating
Limited Adjustments
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $80,722 $163 ($56,641)
Receivables - net 44,834 - -
Fuel inventory - - -
Materials and supplies, at average cost 1,625 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 21,135 6,167 (6,167)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 148,316 6,330 (62,808)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,036,216 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (79,085) 164,223 (110,187)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 957,131 164,223 (110,187)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 319,761 1,852 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 319,761 1,852 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,425,208 $172,405 ($172,995)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
776
MEC International B.V.
MEC Wales B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Wales B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $24,244 - -
Receivables - net 44,834 - -
Fuel inventory - - -
Materials and supplies, at average cost 1,625 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 21,135 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 91,838 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,036,216 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (25,049) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 1,011,167
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 321,613 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 321,613 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,424,618 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
777
MEC International B.V.
MEC Wales B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro MEC Wales B.V. Consolidating
Limited Adjustments
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $13,955 ($204,584) -
Accrued taxes (662) 5,196 ($6,167)
Accrued interest 24,880 (15,158) -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 38,173 (214,546) (6,167)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 674,234 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 262,402 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 30,680 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 293,082 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 106,060 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 276,698 26 (26)
Additional paid-in capital - 276,698 (276,698)
Accumulated other comprehensive income:
Cumulative translation adjustments - net (43,480) 35,352 (35,228)
Unrealized gain in equity securities-net - -
Retained earnings 80,441 74,875 145,124
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 313,659 386,951 (166,828)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,425,208 $172,405 ($172,995)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
778
MEC International B.V.
MEC Wales B.V. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Wales B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($190,629) - -
Accrued taxes (1,633) - -
Accrued interest 9,722 - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (182,540) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 674,234 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 262,402 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 30,680 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 293,082 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 106,060 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 276,698 - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (43,356) - -
Unrealized gain in equity securities-net - -
Retained earnings 300,440 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 533,782 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,424,618 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
779
MEC International B.V.
MEC Wales B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro MEC Wales B.V. Consolidating
Limited Adjustments
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $330,751 $13,393 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 330,751 13,393 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 85,980 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 57,215 - -
Depreciation, decommissioning and
amortization 23,610 51 -
Property and other taxes 17,042 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 183,847 51 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 146,904 13,342 -
Interest and dividend income 3,908 9,207 -
Other nonoperating income (deductions)-net - (35) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 3,908 9,172 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 150,812 22,514 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 59,420 - -
Other interest expense - net 749 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 60,169 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (25,338) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 65,305 22,514 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (18,131) 3,192 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 83,436 19,322 -
Retained earnings - beginning of year (2,995) 55,553 ($51,058)
Dividends declared on common stock - - 196,182
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $80,441 $74,875 $145,124
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
780
MEC International B.V.
MEC Wales B.V. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
MEC Wales B.V.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $344,144 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 344,144 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 85,980 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 57,215 - -
Depreciation, decommissioning and
amortization 23,661 - -
Property and other taxes 17,042 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 183,898 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 160,246 - -
Interest and dividend income 13,115 - -
Other nonoperating income (deductions)-net (35) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 13,080 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 173,326 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 59,420 - -
Other interest expense - net 749 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 60,169 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (25,338) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 87,819 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (14,939) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 102,758 - -
Retained earnings - beginning of year 1,500 - -
Dividends declared on common stock 196,182 - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $300,440 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
781
MEC International B.V.
MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $80,722 -
Receivables - net - 44,834 -
Fuel inventory - - -
Materials and supplies, at average cost - 1,625 -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 21,135 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 148,316 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 1,036,216 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - (79,085) -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 957,131 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges $65,550 319,761 ($65,550)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 65,550 319,761 (65,550)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $65,550 $1,425,208 ($65,550)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
782
MEC International B.V.
MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro
Limited
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $80,722 - -
Receivables - net 44,834 - -
Fuel inventory - - -
Materials and supplies, at average cost 1,625 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 21,135 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 148,316 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,036,216 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (79,085) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 957,131
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 319,761 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 319,761 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,425,208 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
783
MEC International B.V.
MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $144 $13,955 ($144)
Accrued taxes - (662) -
Accrued interest - 24,880 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 144 38,173 (144)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 65,550 674,234 (65,550)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 262,402 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 30,680 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 293,082 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 106,060 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 276,698 -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (43,480) -
Unrealized gain in equity securities-net - -
Retained earnings (144) 80,441 144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (144) 313,659 144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $65,550 $1,425,208 ($65,550)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
784
MEC International B.V.
MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro
Limited
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $13,955 - -
Accrued taxes (662) - -
Accrued interest 24,880 - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 38,173 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 674,234 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 262,402 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 30,680 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 293,082 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 106,060 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 276,698 - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (43,480) - -
Unrealized gain in equity securities-net - -
Retained earnings 80,441 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 313,659 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,425,208 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
785
MEC International B.V.
MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $330,751 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 330,751 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 85,980 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $83 57,215 ($83)
Depreciation, decommissioning and
amortization - 23,610 -
Property and other taxes - 17,042 -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 83 183,847 (83)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (83) 146,904 83
Interest and dividend income - 3,908 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 3,908 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (83) 10,812 83
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 9 59,420 (9)
Other interest expense - net - 749 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 9 60,169 (9)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - (25,338) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (92) 65,305 92
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (18,131) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (92) 83,436 92
Retained earnings - beginning of year (52) (2,995) 52
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($144) $80,441 $144
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
786
MEC International B.V.
MEC Wales B.V.
Mission Hydro Limited Partnership and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro
Limited
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $330,751 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 330,751 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 85,980 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 57,215 - -
Depreciation, decommissioning and
amortization 23,610 - -
Property and other taxes 17,042 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 183,847 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 146,904 - -
Interest and dividend income 3,908 - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 3,908 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 150,812 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 59,420 - -
Other interest expense - net 749 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 60,169 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (25,338) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 65,305 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (18,131) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 83,436 - -
Retained earnings - beginning of year (2,995) - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $80,441 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
787
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [9] [10]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - $822,653 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 822,653 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $822,653 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
788
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [9] [10]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - $822,653 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 822,653 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges $65,550 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 65,550 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $65,550 $822,653 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
789
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [10] Venture [11]
Australia Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $26,465 $27,748
Receivables - net - 7,065 12,077
Fuel inventory - 4,590 9,368
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 703 1,436
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 38,823 50,629
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 594,380 1,333,718
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 822,653
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 594,380 2,156,371
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 11,533 16,527
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 11,533 16,527
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $644,736 $2,223,527
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
790
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Energy Capital Enerloy Pty Ltd [9] First Hydro
Partnership Holdings Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - $1
Receivables - net - - 5,542
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - 5,543
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $822,653 - 988,796
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 822,653 - 988,796
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 16,829
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 16,829
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $822,653 - $1,011,168
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
791
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro First Hydro First Hydro
Company [9] Finance plc [9] Company [10]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $24,025 $638 -
Receivables - net 42,508 55,321 -
Fuel inventory - - -
Materials and supplies, at average cost 1,625 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 21,135 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 89,293 55,959 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 758,411 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 161,336 29,314 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 919,747 29,314 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 170 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 170 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,009,040 $85,443 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
792
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - ($78,877) -
Receivables - net - (122,513) -
Fuel inventory - (13,958) -
Materials and supplies, at average cost - (1,625) -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - (23,274) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - (240,247) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - (2,686,509) -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - (4,470,058) -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - (7,156,567) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - (45,059) $65,550
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - (45,059) 65,550
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - ($7,441,873) $65,550
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
793
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [9] [10]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $21,549 ($21,549)
Current portion of long-term debt - 49 -
Accounts payable - 178,769 (195,347)
Accrued taxes - - -
Accrued interest - 16,535 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 216,902 (216,896)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 784,255 (784,255)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (2) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (2) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding - - -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 822,653
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - 1,692 (1,812)
Unrealized gain in equity securities-net - -
Retained earnings - (180,194) 180,310
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - (178,502) $1,001,151
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $822,653 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
794
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [9] [10]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $21,549 -
Current portion of long-term debt - 49 -
Accounts payable $506 178,769 -
Accrued taxes - - -
Accrued interest - 16,535 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 506 216,902 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 65,550 784,255 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (2) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (2) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 86 1,692 -
Unrealized gain in equity securities-net - - -
Retained earnings (592) (180,194) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (506) (178,502) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $65,550 $822,653 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
795
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [10] Venture [11]
Australia Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $10,147 $21,549
Current portion of long-term debt - - -
Accounts payable - (82,895) (382,474)
Accrued taxes - - -
Accrued interest - - 16,535
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - (72,748) (344,390)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 438,081 856,360
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 24,362 24,361
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 155,146 509,866
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 179,508 534,227
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 42,608 865,260
Additional paid-in capital - - 186,821
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (1,577) (5,101)
Unrealized gain in equity securities-net - - -
Retained earnings - 58,864 130,350
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 99,895 1,177,330
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $644,736 $2,223,527
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
796
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Energy Capital Enerloy Pty Ltd [9] First Hydro
Partnership Holdings Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $21,549 - -
Current portion of long-term debt 49 - -
Accounts payable 178,769 - $7,928
Accrued taxes - - -
Accrued interest 16,535 - 24,142
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 216,902 - 32,070
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 784,255 - 806,345
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2) - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (2) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 181,987
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 1,692 - 13,117
Unrealized gain in equity securities-net - -
Retained earnings (180,194) - (22,351)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (178,502) - 172,753
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $822,653 - $1,011,168
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
797
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro First Hydro First Hydro
Company [9] Finance plc [9] Company [10]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $29,034 -
Accounts payable $17,613 51 -
Accrued taxes (662) - -
Accrued interest 2 24,878 -
Dividends payable - - -
Regulatory balancing accounts-net - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 16,953 53,963 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (7,713) 7,791 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (121) - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 30,680 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 30,559 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 605,585 19 -
Additional paid-in capital - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 124,519 20,422 -
Unrealized gain in equity securities-net - -
Retained earnings 239,137 3,248 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 969,241 23,689 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,009,040 $85,443 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
798
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - ($74,794) -
Current portion of long-term debt - (29,181) -
Accounts payable - 98,455 $144
Accrued taxes - 662 -
Accrued interest - (115,162) -
Dividends payable - - -
Regulatory balancing accounts-net - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - (120,020) 144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - (3,669,374) 65,550
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (48,596) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - (695,692) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (744,288) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding -
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - (2,518,112) -
Additional paid-in capital - (186,821) -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (154,730)
Unrealized gain in equity securities-net - -
Retained earnings - (48,528) (144)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - (2,908,191) (144)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - ($7,441,873) $65,550
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
799
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [9] [10]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - $125 $64,763
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 125 64,763
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 125 64,763
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 64,960 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 64,960 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (64,960) 64,763
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - (64,835) 64,763
Retained earnings - beginning of year - (115,359) 115,547
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($180,194) $180,310
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
800
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [9] [10]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $212 - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 212 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (212) - -
Interest and dividend income - $125 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 125 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (212) 125 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 678 64,960 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 678 64,960 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (890) (64,835) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (890) (64,835) -
Retained earnings - beginning of year 298 (115,359) -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($592) ($180,194) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
801
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [10] Venture [11]
Australia Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $88,882 $168,680
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 88,882 168,680
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 11,516 23,501
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 11,070 22,547
Depreciation, decommissioning and
amortization - 13,360 29,290
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 35,946 75,338
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 52,936 93,342
Interest and dividend income - 5,390 83,170
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 5,390 83,170
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 58,326 176,512
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 30,652 129,993
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 30,652 129,993
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - 27,674 46,519
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - 4,017 4,017
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - 23,657 42,502
Retained earnings - beginning of year - 35,207 87,848
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - $58,864 $130,350
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
802
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Energy Capital Enerloy Pty Ltd [9] First Hydro
Partnership Holdings Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - $246
Depreciation, decommissioning and
amortization - - 8,933
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - 9,179
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income $125 - (9,179)
Interest and dividend income - - 200
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 125 - 200
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 125 - (8,979)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 64,960 - 59,655
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 64,960 - 59,655
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (64,835) - (68,634)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - (22,023)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (64,835) - (46,611)
Retained earnings - beginning of year (115,359) - 24,260
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($180,194) - ($22,351)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
803
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro First Hydro First Hydro
Company [9] Finance plc [9] Company [10]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $338,315 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 338,315 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,873 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 58,181 $82 -
Depreciation, decommissioning and
amortization 11,647 - -
Property and other taxes 17,063 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 174,764 82 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 163,551 (82) -
Interest and dividend income 2,142 61,184 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 2,142 61,184 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 165,693 61,102 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 59,655 -
Other interest expense - net 118 1,855 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 118 61,510 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 165,575 (408) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 52,359 (83) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 113,216 (325)
Retained earnings - beginning of year 125,921 3,573 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $239,137 $3,248 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
804
MEC International B.V.
MEC Wales B.V., Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - ($595,877) -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - (595,877) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - (122,890) -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - (92,255) $83
Depreciation, decommissioning and
amortization - (63,230) -
Property and other taxes - (17,063) -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - (295,438) 83
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - (300,439) (83)
Interest and dividend income - (217,224) -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (217,224) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (517,663) (83)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - (475,504) 9
Other interest expense - net - (1,973) -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - (477,477) 9
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (40,186) (92)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (38,287) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - (1,899) (92)
Retained earnings - beginning of year - (46,629) (52)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($48,528) ($144)
============================================================= ==================== ==================== ====================
</TABLE>
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Limited Operation & Services Limited
Maintenance Limited
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $1,617 $644 $1,341
Receivables - net 252 - 959
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 2,273 - 32
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 4,142 644 2,332
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 3,102 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 3,102
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $7,244 $644 $2,332
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
806
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro (UK) Mission (No. 2) Pride Hold Limited
Limited Limited Consolidated
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $5,537 - $12,421
Receivables - net - - 6,754
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - (190)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 5,537 - 18,985
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 144,913
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 8,387 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 8,387 - 144,913
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 3,525
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 3,525
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $13,924 - $167,423
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
807
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Rapid Energy Mission Energy Consolidating
Limited Company (UK) Adjustments
Limited
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $53,098 ($2,085)
Receivables - net - - (187)
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 248
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 53,098 (2,024)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - 21,689
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 11,996 (7,601)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 11,996 14,088
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 22,684 (23,785)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 22,684 (23,785)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $87,778 ($11,721)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
808
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Company (UK)
Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $72,573 - -
Receivables - net 7,778 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 2,363 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 82,714 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 169,704 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 12,782 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 182,486
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 2,424 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 2,424 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $267,624 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
809
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Limited Operation & Services Limited
Maintenance Limited
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $3,379 $587 $1,096
Accrued taxes 911 18 428
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 4,290 605 1,524
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (970) 4 (252)
Unrealized gain in equity securities-net - -
Retained earnings 3,924 35 1,060
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 2,954 39 808
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $7,244 $644 $2,332
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
810
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro (UK) Mission (No. 2) Pride Hold Limited
Limited Limited Consolidated
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - $21,996
Accounts payable $117 - (36,858)
Accrued taxes 40 - (105)
Accrued interest - - 2,111
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 157 - (12,856)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - 98,424
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - 31,907
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - 31,907
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 8,912 - 161
Accumulated other comprehensive income:
Cumulative translation adjustments - net (961) - 1,822
Unrealized gain in equity securities-net - - -
Retained earnings 5,816 - 47,965
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 13,767 - 49,948
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $13,924 - $167,423
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
811
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Rapid Energy Mission Energy Consolidating
Limited Company (UK) Adjustments
Limited
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - ($25,837) $46,144
Accrued taxes - 47,869 (47,755)
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 22,032 (1,611)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 33,067 (2,217)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - 128
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - 128
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - 511
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 24,008 (1,257)
Additional paid-in capital - 11,650 (9,103)
Accumulated other comprehensive income:
Cumulative translation adjustments - net - 1,434 2,141
Unrealized gain in equity securities-net - - -
Retained earnings - (4,413) (313)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 32,679 (8,532)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $87,778 ($11,721)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
812
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Company (UK)
Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $21,996 - -
Accounts payable (11,372) - -
Accrued taxes 1,406 - -
Accrued interest 2,111 - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 14,141 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 129,274 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 32,035 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 32,035 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 511 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 22,751 - -
Additional paid-in capital 11,620 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 3,218 - -
Unrealized gain in equity securities-net - -
Retained earnings 54,074 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 91,663 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $267,624 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
813
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Edison Mission Edison Mission Edison Mission
Energy Limited Operation & Services Limited
Maintenance Limited
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $23,680 - $3,231
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 23,680 - 3,231
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 21,549 $12 2,613
Depreciation, decommissioning and
amortization 966 - 1
Property and other taxes 319 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 22,834 12 2,614
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 846 (12) 617
Interest and dividend income 83 (542) (999)
Other nonoperating income (deductions)- net (273) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (190) (542) (999)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 656 (554) (382)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 656 (554) (382)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 444 25 223
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 212 (579) (605)
Retained earnings - beginning of year 3,712 614 1,664
Dividends declared on common stock - - 1
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $3,924 $35 $1,060
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
814
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro (UK) Mission (No. 2) Pride Hold Limited
Limited Limited Consolidated
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - $95,623
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - 95,623
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - 41,150
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $21 - 14,350
Depreciation, decommissioning and
amortization - - 8,073
Property and other taxes - - 2,086
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 21 - 65,659
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (21) - 29,964
Interest and dividend income 1,524 - (5,734)
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 1,524 - (5,734)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 1,503 - 24,230
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - 7,328
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - 7,328
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 1,503 - 16,902
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 71 - 7,587
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 1,432 9,315
Retained earnings - beginning of year 4,383 - 38,652
Dividends declared on common stock 1 - (2)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $5,816 - $47,965
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
815
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Rapid Energy Mission Energy Consolidating
Limited Company (UK) Adjustments
Limited
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - $2,665
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - 2,665
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - 34
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - $268 (245)
Depreciation, decommissioning and
amortization - 1,337 269
Property and other taxes - - 2
Net loss (gain) on sale of utility plant - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 1,605 60
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - (1,605) 2,605
Interest and dividend income - 7,595 1,498
Other nonoperating income (deductions)-net - - 2
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 7,595 1,500
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 5,990 4,105
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 2,324 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 2,324 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - (2,659)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - 3,666 1,446
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - 71 (153)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 3,595 1,599
Retained earnings - beginning of year - (8,008) (6,442)
Dividends declared on common stock - 4,530
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($4,413) ($313)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
816
MEC International B.V.
Mission Energy Company (UK) Limited and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy
Company (UK)
Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $125,199 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 125,199 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 41,184 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 38,568 - -
Depreciation, decommissioning and
amortization 10,646 - -
Property and other taxes 2,407 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 92,805 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 32,394 - -
Interest and dividend income 3,425 - -
Other nonoperating income (deductions)-net (271) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 3,154 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 35,548 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 9,652 - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 9,652 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest (2,659) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 23,237 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 8,268 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 14,969
Retained earnings - beginning of year 34,575 - -
Dividends declared on common stock 4,530 - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $54,074 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
817
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro Mission Hydro Mission Hydro (UK)
Holdings Company Limited Limited
Consolidated Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $24,664 $80,722 $5,537
Receivables - net 44,835 44,834 -
Fuel inventory - - -
Materials and supplies, at average cost 1,625 1,625 -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 21,135 21,135 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 92,259 148,316 5,537
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,036,216 1,036,216 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (169,328) (79,085) 8,387
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 866,888 957,131 8,387
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 319,761 319,761 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 319,761 319,761 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,278,908 $1,425,208 $13,924
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
818
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Mission Hydro (UK)
Adjustments Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents ($105,386) $5,537 -
Receivables - net (89,669) - -
Fuel inventory - - -
Materials and supplies, at average cost (3,250) - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (42,270) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (240,575) 5,537 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (2,072,432) - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 248,413 8,387 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (1,824,019) 8,387 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges (639,522) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (639,522) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($2,704,116) $13,924 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
819
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro Mission Hydro Mission Hydro (UK)
Holdings Company Limited Limited
Consolidated Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $13,955 $13,955 $117
Accrued taxes (662) (662) 40
Accrued interest 24,880 24,880 -
Dividends payable - - -
Regulatory balancing accounts-net - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 38,173 38,173 157
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 674,234 674,234 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 262,402 262,402 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 30,680 30,680 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 293,082 293,082 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 106,060 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 181,987 276,698 -
Additional paid-in capital - 8,912
Accumulated other comprehensive income:
Cumulative translation adjustments - net (155,165) (43,480) (961)
Unrealized gain in equity securities-net - - -
Retained earnings 246,597 80,441 5,816
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 273,419 313,659 13,767
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,278,908 $1,425,208 $13,924
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
820
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Mission Hydro (UK)
Adjustments Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable ($27,910) $117 -
Accrued taxes 1,324 40 -
Accrued interest (49,760) - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (76,346) 157 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (1,348,468) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (524,804) - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities (61,360) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (586,164) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest (106,060) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (458,685) - -
Additional paid-in capital - 8,912 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 198,645 (961) -
Unrealized gain in equity securities-net - -
Retained earnings (327,038) 5,816 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (587,078) 13,767 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($2,704,116) $13,924 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
821
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro Mission Hydro Mission Hydro (UK)
Holdings Company Limited Limited
Consolidated Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $330,751 $330,751 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 330,751 330,751 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 85,980 85,980 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 57,215 57,215 $20
Depreciation, decommissioning and
amortization 23,610 23,610 -
Property and other taxes 17,042 17,042 -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 183,847 183,847 20
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 146,904 146,904 (20)
Interest and dividend income 3,908 3,908 1,524
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 3,908 3,908 1,524
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 150,812 150,812 1,504
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 59,420 59,420 -
Other interest expense - net 749 749 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 60,169 60,169 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - (25,338) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 90,643 65,305 1,504
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (18,131) (18,131) 71
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 108,774 83,436 1,433
Retained earnings - beginning of year 202,448 (2,995) 4,383
Dividends declared on common stock (64,625) - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $246,597 $80,441 $5,816
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
822
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Mission Hydro (UK)
Adjustments Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation ($661,502) - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (661,502) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (171,960) - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance (114,430) $20 -
Depreciation, decommissioning and
amortization (47,220) - -
Property and other taxes (34,084) - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (367,694) 20 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (293,808) (20) -
Interest and dividend income (7,816) 1,524 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (7,816) 1,524 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (301,624) 1,504 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt (118,840) - -
Other interest expense - net (1,498) - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges (120,338) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest 25,338 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (155,948) 1,504 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 36,262 71 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (192,210) 1,433 -
Retained earnings - beginning of year (199,453) 4,383 -
Dividends declared on common stock 64,625 - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($327,038) $5,816 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
823
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
First Hydro Holdings Company and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro Company First Hydro First Hydro
Finance plc Company [9]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $24,025 $638 -
Receivables - net 42,508 55,321 -
Fuel inventory - - -
Materials and supplies, at average cost 1,625 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 21,135 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 89,293 55,959 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 758,411 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 161,336 29,314 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 919,747 29,314
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 170 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 170 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,009,040 $85,443 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
824
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
First Hydro Holdings Company and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro Consolidating First Hydro
Holdings Company Adjustments Holdings Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $1 - $24,664
Receivables - net 5,542 ($58,536) 44,835
Fuel inventory - - -
Materials and supplies, at average cost - - 1,625
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - 21,135
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 5,543 (58,536) 92,259
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 277,805 1,036,216
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 988,796 (1,348,774) (169,328)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 988,796 (1,070,969) 866,888
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 16,829 302,762 319,761
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 16,829 302,762 319,761
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,011,168 ($826,743) $1,278,908
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
825
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
First Hydro Holdings Company and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro Company First Hydro First Hydro
Finance plc Company [9]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $29,034 -
Accounts payable $17,613 51 -
Accrued taxes (662) - -
Accrued interest 2 24,878 -
Dividends payable - - -
Regulatory balancing accounts-net - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 16,953 53,963 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (7,713) 7,791 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (121) - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 30,680 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 30,559 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 605,585 19 -
Additional paid-in capital - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 124,519 20,422 -
Unrealized gain in equity securities-net - -
Retained earnings 239,137 3,248 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 969,241 23,689 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,009,039 $85,443 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
826
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
First Hydro Holdings Company and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro Consolidating First Hydro
Holdings Company Adjustments Holdings Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - ($29,034) -
Accounts payable $7,928 (11,637) $13,955
Accrued taxes - - (662)
Accrued interest 24,142 (24,142) 24,880
Dividends payable - - -
Regulatory balancing accounts-net - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 32,070 (64,813) 38,173
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 806,345 (132,189) 674,234
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 262,523 262,402
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - 30,680
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 262,523 293,082
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 181,987 (605,604) 181,987
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 13,117 (313,223) (155,165)
Unrealized gain in equity securities-net - -
Retained earnings (22,351) 26,563 246,597
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 172,753 (892,264) 273,419
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,011,168 ($826,743) $1,278,908
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
827
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
First Hydro Holdings Company and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro Company First Hydro First Hydro
Finance plc Company [9]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $338,315 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 338,315 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,873 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 58,181 $82 -
Depreciation, decommissioning and
amortization 11,647 - -
Property and other taxes 17,063 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 174,764 82 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 163,551 (82) -
Interest and dividend income 2,142 61,184 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 2,142 61,184 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 165,693 61,102 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 59,655 -
Other interest expense - net 118 1,855 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 118 61,510 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 165,575 (408) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 52,359 (83) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 113,216 (325)
Retained earnings - beginning of year 125,921 3,573 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $239,137 $3,248 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
828
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
First Hydro Holdings Company and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro Consolidating First Hydro
Holdings Company Adjustments Holdings Company
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - ($7,564) $330,751
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - (7,564) 330,751
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - (1,893) 85,980
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $246 (1,294) 57,215
Depreciation, decommissioning and
amortization 8,933 3,030 23,610
Property and other taxes - (21) 17,042
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 9,179 (178) 183,847
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (9,178) (7,386) 146,904
Interest and dividend income 200 (59,618) 3,908
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 200 (59,618) 3,908
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (8,979) (67,004) 150,812
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 59,655 (59,890) 59,420
Other interest expense - net - (1,224) 749
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 59,655 (61,114) 60,169
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (68,634) 5,890 90,643
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes (22,023) (48,384) (18,131)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (46,611) 42,494 108,774
Retained earnings - beginning of year 24,260 48,694 202,448
Dividends declared on common stock - (64,625) (64,625)
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($22,351) $26,563 $246,597
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
829
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $80,722 -
Receivables - net - 44,834 -
Fuel inventory - - -
Materials and supplies, at average cost - 1,625 -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 21,135 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 148,316 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 1,036,216 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - (79,085) -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 957,131
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges $65,550 319,761 ($65,550)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 65,550 319,761 (65,550)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $65,550 $1,425,208 ($65,550)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
830
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro
Limited
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $80,722 - -
Receivables - net 44,834 - -
Fuel inventory - - -
Materials and supplies, at average cost 1,625 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 21,135 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 148,316 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 1,036,216 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (79,085) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 956,131
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 319,761 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 319,761 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,425,208 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
831
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $144 $13,955 ($144)
Accrued taxes - (662) -
Accrued interest - 24,880 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 144 38,173 (144)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 65,550 674,234 (65,550)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 262,402 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 30,680 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 293,082 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - 106,060 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 276,698 -
Additional paid-in capital - - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (43,480) -
Unrealized gain in equity securities-net - -
Retained earnings (144) 80,441 144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (144) 313,659 144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $65,550 $1,425,208 ($65,550)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
832
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro
Limited
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $13,955 - -
Accrued taxes (662) - -
Accrued interest 24,880 - -
Dividends payable - - -
Regulatory balancing accounts-net -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 38,173 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 674,234 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 262,402 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 30,680 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 293,082 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest 106,060 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 276,698 - -
Additional paid-in capital -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (43,480) - -
Unrealized gain in equity securities-net - -
Retained earnings 80,441 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 313,659 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,425,208 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
833
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Mission Hydro Consolidating
Holdings Limited Limited Partnership Adjustments
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $330,751 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 330,751 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 85,980 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $83 57,215 ($83)
Depreciation, decommissioning and
amortization - 23,610 -
Property and other taxes - 17,042 -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 83 183,847 (83)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (83) 146,904 83
Interest and dividend income - 3,908 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 3,908 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (83) 150,812 83
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 9 59,420 (9)
Other interest expense - net - 749 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 9 60,169 (9)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - (25,338) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (92) 65,305 92
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (18,131) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (92) 83,436 92
Retained earnings - beginning of year (52) (2,995) 52
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($144) $80,441 $144
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
834
MEC International B.V.
Mission Energy Company (UK) Limited
Mission Hydro (UK) Limited
Mission Hydro Limited Partnership and Subsidiaries [Tier 8]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Hydro
Limited
Partnership
Consolidated
- ------------------------------------------------------------- -------------------- --------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $330,751 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Total operating revenue 330,751 - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Fuel 85,980 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 57,215 - -
Depreciation, decommissioning and
amortization 23,610 - -
Property and other taxes 17,042 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Total operating expenses 183,847 - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Operating income 146,904 - -
Interest and dividend income 3,908 - -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Total other income - net 3,908 - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Income before fixed charges and taxes 150,812 - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Interest and amortization on long-term debt 59,420 - -
Other interest expense - net 749 - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Total fixed charges 60,169 - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Minority interest (25,338) - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Income before taxes 65,305 - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Income taxes (18,131) - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Net income 83,436
Retained earnings - beginning of year (2,995) - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- --------------------- -------------------
Retained earnings - end of year $80,441 - -
============================================================= ==================== ===================== ===================
</TABLE>
<PAGE>
835
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [10] [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - $822,653 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 822,653 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $822,653 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
836
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [10] [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - $822,653 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 822,653 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges $65,550 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 65,550 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $65,550 $822,653 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
837
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [10] Venture [11]
Australia Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $26,465 $27,748
Receivables - net - 7,065 12,077
Fuel inventory - 4,590 9,368
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 703 1,436
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 38,823 50,629
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 594,380 1,333,718
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 822,653
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 594,380 2,156,371
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 11,533 16,527
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 11,533 16,527
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $644,736 $2,223,527
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
838
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [10] Holdings Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - - $1
Receivables - net - - 5,542
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - - 5,543
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries $822,653 - 988,796
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 822,653 - 988,796
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - 16,829
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - 16,829
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $822,653 - $1,011,168
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
839
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro First Hydro First Hydro
Company [10] Finance plc [10] Company [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $24,025 $638 -
Receivables - net 42,508 55,321 -
Fuel inventory - - -
Materials and supplies, at average cost 1,625 - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets 21,135 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 89,293 55,959 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 758,411 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 161,336 29,314 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 919,747 29,314 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 170 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 170 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $1,009,040 $85,443 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
840
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - ($78,877) -
Receivables - net - (122,513) -
Fuel inventory - (13,958) -
Materials and supplies, at average cost - (1,625) -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - (23,274) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - (240,247) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - (2,686,509) -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - (4,470,058) -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - (7,156,567) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - (45,059) $65,550
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - (45,059) 65,550
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - ($7,441,873) $65,550
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
841
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [10] [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $21,549 ($21,549)
Current portion of long-term debt - 49 -
Accounts payable - 178,769 (195,347)
Accrued taxes - - -
Accrued interest - 16,535 -
Dividends payable - - -
Regulatory balancing accounts-net - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 216,902 (216,896)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 784,255 (784,255)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (2) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (2) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 822,653
Additional paid-in capital - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - 1,692 (1,812)
Unrealized gain in equity securities-net - -
Retained earnings - (180,194) 180,310
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - (178,502) $1,001,151
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $822,653 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
842
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [10] [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $21,549 -
Current portion of long-term debt - 49 -
Accounts payable $506 178,769 -
Accrued taxes - - -
Accrued interest - 16,535 -
Dividends payable - - -
Regulatory balancing accounts-net - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 506 216,902 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 65,550 784,255 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (2) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (2) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 86 1,692 -
Unrealized gain in equity securities-net - - -
Retained earnings (592) (180,194) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (506) (178,502) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $65,550 $822,653 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
843
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [10] Venture [11]
Australia Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $10,147 $21,549
Current portion of long-term debt - - -
Accounts payable - (82,895) (382,474)
Accrued taxes - - -
Accrued interest - - 16,535
Dividends payable - - -
Regulatory balancing accounts-net - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - (72,748) (344,390)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 438,081 856,360
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - 24,362 24,361
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - 155,146 509,866
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - 179,508 534,227
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 42,608 865,260
Additional paid-in capital - 186,821
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (1,577) (5,101)
Unrealized gain in equity securities-net - - -
Retained earnings - 58,864 130,350
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 99,895 1,177,330
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $644,736 $2,223,527
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
844
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [10] Holdings Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt $21,549 - -
Current portion of long-term debt 49 - -
Accounts payable 178,769 - $7,928
Accrued taxes - - -
Accrued interest 16,535 - 24,142
Dividends payable - - -
Regulatory balancing accounts-net - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 216,902 - 32,070
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 784,255 - 806,345
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (2) - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (2) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - 181,987
Additional paid-in capital - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 1,692 - 13,117
Unrealized gain in equity securities-net - -
Retained earnings (180,194) - (22,351)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (178,502) - 172,753
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $822,653 - $1,011,168
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
845
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro First Hydro First Hydro
Company [10] Finance plc [10] Company [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $29,034 -
Accounts payable $17,613 51 -
Accrued taxes (662) - -
Accrued interest 2 24,878 -
Dividends payable - - -
Regulatory balancing accounts-net - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 16,953 53,963 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (7,713) 7,791 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (121) - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities 30,680 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 30,559 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 605,585 19 -
Additional paid-in capital - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 124,519 20,422 -
Unrealized gain in equity securities-net - -
Retained earnings 239,137 3,248 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 969,241 23,689 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $1,009,040 $85,443 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
846
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - ($74,794) -
Current portion of long-term debt - (29,181) -
Accounts payable - 98,455 $144
Accrued taxes - 662 -
Accrued interest - (115,162) -
Dividends payable - - -
Regulatory balancing accounts-net -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - (120,020) 144
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - (3,669,374) 65,550
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - (48,596) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - (695,692) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - (744,288) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - (2,518,112) -
Additional paid-in capital (186,821) -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - (154,730)
Unrealized gain in equity securities-net - -
Retained earnings - (48,528) (144)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - (2,908,191) (144)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - ($7,441,873) $65,550
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
847
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Loyvic Pty Ltd Energy Capital Enerloy Pty Ltd
Partnership [10] [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - -
Interest and dividend income - $125 $64,763
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 125 64,763
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 125 64,763
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 64,960 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 64,960 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (64,835) 64,763
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (64,835) 64,763
Retained earnings - beginning of year - (115,359) 115,547
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($180,194) $180,310
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
848
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Victoria Energy Capital Enerloy Pty Ltd
Generation Limited Partnership [10] [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $212 - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 212 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (212) - -
Interest and dividend income - $125 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 125 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (212) 125 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 678 64,960 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 678 64,960 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (890) (64,835) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (890) (64,835)
Retained earnings - beginning of year 298 (115,359) -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($592) ($180,194) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
849
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Energy Gippsland Power Loy Yang B Joint
Development Pty Ltd [10] Venture [11]
Australia Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $88,882 $168,680
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 88,882 168,680
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 11,516 23,501
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 11,070 22,547
Depreciation, decommissioning and
amortization - 13,360 29,290
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 35,946 75,338
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 52,936 93,342
Interest and dividend income - 5,390 83,170
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - 5,390 83,170
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - 58,326 176,512
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 30,652 129,993
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 30,652 129,993
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - 27,674 46,519
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - 4,017 4,017
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 23,657 42,502
Retained earnings - beginning of year - 35,207 87,848
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - $58,864 $130,350
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
850
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Energy Capital Enerloy Pty Ltd First Hydro
Partnership [10] Holdings Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - - $246
Depreciation, decommissioning and
amortization - - 8,933
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - - 9,179
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - - (9,179)
Interest and dividend income $125 - 200
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 125 - 200
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 125 - (8,979)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 64,960 - 59,655
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 64,960 - 59,655
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (64,835) - (68,634)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - - (22,023)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (64,835) (46,611)
Retained earnings - beginning of year (115,359) - 24,260
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($180,194) - ($22,351)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
851
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
First Hydro First Hydro First Hydro
Company [10] Finance plc [10] Company [11]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $338,315 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 338,315 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 87,873 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 58,181 $82 -
Depreciation, decommissioning and
amortization 11,647 - -
Property and other taxes 17,063 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 174,764 82 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 163,551 (82) -
Interest and dividend income 2,142 61,184 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 2,142 61,184 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 165,693 61,102 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 59,655 -
Other interest expense - net 118 1,855 -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 118 61,510 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 165,575 (408) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 52,359 (83) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 113,216 (325)
Retained earnings - beginning of year 125,921 3,573 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $239,137 $3,248 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
852
MEC International B.V., Mission Energy Company (UK) Limited,
Mission Hydro (UK) Limited, Mission Hydro Limited Partnership,
EME Generation Holdings Limited and Subsidiaries [Tier 9]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME Generation Consolidating EME Generation
Holdings Limited Adjustments Holdings Limited
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - ($595,877) -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - (595,877) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - (122,890) -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - (92,255) $83
Depreciation, decommissioning and
amortization - (63,230) -
Property and other taxes - (17,063) -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - (295,438) 83
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - (300,439) (83)
Interest and dividend income - (217,224) -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (217,224) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (517,663) (83)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - (475,504) 9
Other interest expense - net - (1,973) -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - (477,477) 9
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (40,186) (92)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (38,287) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (1,899) (92)
Retained earnings - beginning of year - (46,629) (52)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($48,528) ($144)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
853
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Lakeland Power Ltd Lakeland Power Pride Hold Limited
Development Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $12,402 $2 $17
Receivables - net 21,271 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (190) - 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 33,483 2 18
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 132,818 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 15,597
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 132,818 - 15,597
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $166,301 $2 $15,615
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
854
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Pride Hold Limited
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $12,421 -
Receivables - net ($14,517) 6,754 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (1) (190) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (14,518) 18,985 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 12,095 144,913 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (15,597) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (3,502) 144,913 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 3,525 3,525 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 3,525 3,525 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($14,495) $167,423 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
855
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Lakeland Power Ltd Lakeland Power Pride Hold Limited
Development Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $21,996 - -
Accounts payable 11,552 ($181) ($33,712)
Accrued taxes (105) - -
Accrued interest 2,111 - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 35,554 (181) (33,712)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 98,424 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 30,766 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 30,766 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 2 - -
Additional paid-in capital - - 161
Accumulated other comprehensive income:
Cumulative translation adjustments - net (5,503) (6) (214)
Unrealized gain in equity securities-net - - -
Retained earnings 7,058 189 49,380
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,557 183 49,327
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $166,301 $2 $15,615
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
856
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited and Subsidiaries [Tier 7]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Pride Hold Limited
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - $21,996 -
Accounts payable ($14,517) (36,858) -
Accrued taxes - (105) -
Accrued interest - 2,111 -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (14,517) (12,856) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 98,424 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,141 31,907 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 1,141 31,907 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (2) - -
Additional paid-in capital - 161
Accumulated other comprehensive income:
Cumulative translation adjustments - net 7,545 1,822 -
Unrealized gain in equity securities-net - -
Retained earnings (8,662) 47,965 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (1,119) 49,948 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($14,495) $167,423 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
857
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Lakeland Power Ltd Lakeland Power Pride Hold Limited
Development Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation $95,623 - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 95,623 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 41,150 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 14,336 - $14
Depreciation, decommissioning and
amortization 7,895 - -
Property and other taxes 2,086 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 65,467 - 14
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 30,156 - (14)
Interest and dividend income (54,975) 49,241
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (54,975) - 49,241
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (24,819) - 49,227
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 7,328 - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 7,328 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (32,147) - 49,227
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 7,587 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (39,734) - 49,227
Retained earnings - beginning of year 46,792 $189 153
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $7,058 $189 $49,380
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
858
MEC International B.V.
Mission Energy Company (UK) Limited
Pride Hold Limited and Subsidiaries [Tier 7]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Pride Hold Limited
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $95,623 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 95,623 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 41,150 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 14,350 -
Depreciation, decommissioning and
amortization $179 8,074 -
Property and other taxes - 2,086 -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 179 65,660 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (179) 29,963 -
Interest and dividend income - (5,734) -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (5,734) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (179) 24,229 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 7,328 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 7,328 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (179) 16,901 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - 7,587 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (179) 9,314 -
Retained earnings - beginning of year (8,482) 38,652 -
Dividends declared on common stock (1) (1) -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($8,662) $47,965 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
859
MEC International B.V.
Pride Hold Limited and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Lakeland Power Ltd Lakeland Power Pride Hold Limited
Development Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $12,402 $2 $17
Receivables - net 21,271 - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (190) - 1
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 33,483 2 18
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 132,818 - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - - 15,597
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 132,818 - 15,597
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $166,301 $2 $15,615
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
860
MEC International B.V.
Pride Hold Limited and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Pride Hold Limited
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $12,421 -
Receivables - net ($14,517) 6,754 -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (1) (190) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (14,518) 18,985 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net 12,095 144,913 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (15,597) - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (3,502) 144,913 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges 3,525 3,525 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges 3,525 3,525 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($14,490) $167,423 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
861
MEC International B.V.
Pride Hold Limited and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Lakeland Power Ltd Lakeland Power Pride Hold Limited
Development Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt $21,996 - -
Accounts payable 11,552 ($181) ($33,712)
Accrued taxes (105) - -
Accrued interest 2,111 - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 35,554 (181) (33,712)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt 98,424 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 30,766 - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 30,766 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 2 - -
Additional paid-in capital - - 161
Accumulated other comprehensive income:
Cumulative translation adjustments - net (5,503) (6) (214)
Unrealized gain in equity securities-net - -
Retained earnings 7,058 189 49,380
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 1,557 183 49,327
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $166,301 $2 $15,615
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
862
MEC International B.V.
Pride Hold Limited and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Pride Hold Limited
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt ($14,517) $21,996 -
Accounts payable - (36,858) -
Accrued taxes - (105) -
Accrued interest - 2,111 -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (14,517) (12,856) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 98,424 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 1,141 31,907 -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities 1,141 31,907 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock (2) - -
Additional paid-in capital - 161 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net 7,544 1,822 -
Unrealized gain in equity securities-net - -
Retained earnings (8,660) 47,966 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (1,118) 49,949 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($14,494) $167,424 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
863
MEC International B.V.
Pride Hold Limited and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Lakeland Power Ltd Lakeland Power Pride Hold Limited
Development Company
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility $95,623 - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue 95,623 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel 41,150 - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance 14,336 - $14
Depreciation, decommissioning and
amortization 7,895 - -
Property and other taxes 2,086 - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 65,467 - 14
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income 30,156 - (14)
Interest and dividend income (54,975) - 49,241
Other nonoperating income (deductions)- net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (54,975) - 49,241
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (24,819) - 49,227
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt 7,328 - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges 7,328 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (32,147) - 49,227
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 7,587 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (39,734) - 49,227
Retained earnings - beginning of year 46,792 $189 153
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $7,058 $189 $49,380
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
864
MEC International B.V.
Pride Hold Limited and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Pride Hold Limited
Adjustments Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - $95,623 -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 95,623 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 41,150 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 14,350 -
Depreciation, decommissioning and
amortization $178 8,073 -
Property and other taxes - 2,086 -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 178 65,659 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (18) 29,964 -
Interest and dividend income - (5,734) -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (5,734) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (178) 24,230 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 7,328 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 7,328 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (178) 16,901 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - 7,587 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (178) 9,315 -
Retained earnings - beginning of year (8,482) 38,652 -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($8,660) $47,966 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
865
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME del Caribe EME del Caribe [7] EcoElectrica
Holding GmbH Holdings, Ltd. [8]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $1,324 -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,324 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 223,961 $223,345 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 223,961 223,345 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $225,285 $223,345 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
866
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EcoElectrica Ltd. EcoElectrica Consolidating
[9] S.a.r.l. Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents - $12 -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets - 12 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries - 224,330 ($448,291)
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets - 224,330 (448,291)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets - $224,342 ($448,291)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
867
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EcoElectrica
S.a.r.l.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $1,336 - -
Receivables - net - - -
Fuel inventory - - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 1,336 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 223,345 - -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 223,345 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $224,681 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
868
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME del Caribe EME del Caribe [7] EcoElectrica
Holding GmbH Holdings, Ltd. [8]
- ------------------------------------------------------------- -------------------- --------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- --------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - $47 -
Accrued taxes $106 - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- --------------------- --------------------
Total current liabilities 106 47 -
- ------------------------------------------------------------- -------------------- --------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- --------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- --------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- --------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- --------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- --------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- --------------------- --------------------
Common stock 43 - -
Additional paid-in capital 224,950 223,298 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 186 - -
- ------------------------------------------------------------- -------------------- --------------------- --------------------
Total common shareholders' equity 225,179 223,298 -
- ------------------------------------------------------------- -------------------- --------------------- --------------------
Total liabilities and shareholders' equity $225,285 $223,345 -
============================================================= ==================== ===================== ====================
</TABLE>
<PAGE>
869
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EcoElectrica Ltd. EcoElectrica Consolidating
[9] S.a.r.l. Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable - $8 -
Accrued taxes - (4) -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities - 4 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - 15 ($43)
Additional paid-in capital - 224,330 (448,248)
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - - -
Retained earnings (7)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity - 224,338 (448,291)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity - $224,342 ($448,291)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
870
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EcoElectrica
S.a.r.l.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - - -
Current portion of long-term debt - - -
Accounts payable $55 - -
Accrued taxes 102 - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 157 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net - - -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - - -
Other long-term liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock 15 - -
Additional paid-in capital 224,330 - -
Accumulated other comprehensive income:
Cumulative translation adjustments - net - - -
Unrealized gain in equity securities-net - -
Retained earnings 179 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 224,524 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $224,681 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
871
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EME del Caribe EME del Caribe [7] EcoElectrica
Holding GmbH Holdings, Ltd. [8]
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $22 $229 -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 22 229 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (22) (229) -
Interest and dividend income 105 - -
Other nonoperating income (deductions)-net (14) 229 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 91 $229 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 69 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 69 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 46 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 23 - -
Retained earnings - beginning of year 163 - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $186 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
872
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EcoElectrica Ltd. EcoElectrica Consolidating
[9] S.a.r.l. Adjustments
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - $8 -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 8 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - (8) -
Interest and dividend income - - -
Other nonoperating income (deductions)-net - (2) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net - (2) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes - (10) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes - (10) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes - (3) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income - (7) -
Retained earnings - beginning of year - - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year - ($7) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
873
MEC International B.V.
EcoElectrica S.a.r.l. and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
EcoElectrica
S.a.r.l.
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance $259 - -
Depreciation, decommissioning and
amortization - - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses 259 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (259) - -
Interest and dividend income 105 - -
Other nonoperating income (deductions)-net 213 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 318 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 59 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 59 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 43 - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 16 - -
Retained earnings - beginning of year 163 - -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $179 - -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
874
MEC International B.V.
Traralgon Power Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Traralgon Power
Partnership Partnership [7] Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents $57 $1,283 -
Receivables - net - 5,012 -
Fuel inventory - 4,778 -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets - 732 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets 57 11,805 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net - 739,339 -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries 184,280 - $84,936
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets 184,280 739,339 84,936
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges - 4,995 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges - 4,995 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets $184,337 $756,139 $84,936
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
875
MEC International B.V.
Traralgon Power Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Traralgon Power
Adjustments Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
ASSETS
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Cash and equivalents ($1,340) - -
Receivables - net (5,012) - -
Fuel inventory (4,778) - -
Materials and supplies, at average cost - - -
Accumulated deferred income taxes - net - - -
Regulatory balancing accounts - net - - -
Prepayments and other current assets (732) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current assets (11,862) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Nonutility property - net (739,339) - -
Nuclear decommissioning trusts - - -
Investments in partnerships
and unconsolidated subsidiaries (184,280) $84,936 -
Investments in leveraged leases - - -
Other investments - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total investment and other assets (923,619) 84,936 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Utility plant, at original cost:
Transmission and distribution - - -
Generation - - -
Accumulated provision for depreciation
and decommissioning - - -
Construction work in progress - - -
Nuclear fuel, at amortized cost - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Unamortized nuclear investment - net - - -
Income tax-related deferred charges - - -
Regulatory balancing accounts - net - - -
Unamortized debt issuance and
reacquisition expense - - -
Other deferred charges (4,995) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred charges (4,995) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total assets ($940,476) $84,936 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
876
MEC International B.V.
Traralgon Power Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Traralgon Power
Partnership Partnership [7] Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt - $11,401 -
Current portion of long-term debt - - -
Accounts payable ($1,879) (283,049) ($11,153)
Accrued taxes - - -
Accrued interest - - -
Dividends payable - - -
Regulatory balancing accounts-net - - -
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities (1,879) (271,648) (11,153)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt - 418,280 133,068
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net (9) - (6,883)
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits - 353,905 -
Other long-term liabilities - 815 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (9) 354,720 (6,883)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - - -
Additional paid-in capital 181,930 186,821 -
Accumulated other comprehensive income:
Cumulative translation adjustments - net (593) (2,632) (20,198)
Unrealized gain in equity securities-net - -
Retained earnings 4,888 70,598 (9,898)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity 186,225 254,787 (30,096)
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity $184,337 $756,139 $84,936
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
877
MEC International B.V.
Traralgon Power Pty Ltd and Subsidiaries [Tier 6]
Consolidating Balance Sheet
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Traralgon Power
Adjustments Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Short-term debt ($11,401) - -
Current portion of long-term debt - - -
Accounts payable 284,928 ($11,153) -
Accrued taxes - - -
Accrued interest - -
Dividends payable - - -
Regulatory balancing accounts-net
Deferred unbilled revenue and other
current liabilities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total current liabilities 273,527 (11,153) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Long-term debt (418,280) 133,068 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Accumulated deferred income taxes - net 9 (6,883) -
Accumulated deferred investment
tax credits - - -
Customer advances and other deferred
credits (353,905) - -
Other long-term liabilities (815) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total deferred credits & other liabilities (354,711) (6,883) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority Interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Preferred stock:
Not subject to mandatory redemption - - -
Subject to mandatory redemption - - -
Company-obligated mandatorily redeemable
securities of subsidiaries holding
solely parent company debentures - - -
Other preferred securities - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total preferred securities of subsidiaries - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Common stock - -
Additional paid-in capital (368,751)
Accumulated other comprehensive income:
Cumulative translation adjustments - net 3,225 (20,198) -
Unrealized gain in equity securities-net - - -
Retained earnings (75,486) (9,898) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total common shareholders' equity (441,012) (30,096) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total liabilities and shareholders' equity ($940,476) $84,936 -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
878
MEC International B.V.
Traralgon Power Pty Ltd and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Mission Victoria Latrobe Power Traralgon Power
Partnership Partnership [7] Pty Ltd
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - - -
Unregulated power generation - $55,570 -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue - 55,570 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel - 8,759 -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance - 14,702 -
Depreciation, decommissioning and
amortization - (8,295)
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses - 15,166 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income - 40,404 -
Interest and dividend income $2 12,892 $853
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net 2 12,892 853
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes 2 53,296 853
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt - 34,381 -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges - 34,381 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes 2 18,915 853
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 8,364
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income 2 18,915 (7,511)
Retained earnings - beginning of year 4,886 51,683 (2,387)
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year $4,888 $70,598 ($9,898)
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
879
MEC International B.V.
Traralgon Power Pty Ltd and Subsidiaries [Tier 6]
Consolidating Statements of Income and Retained Earnings
For the Year Ended December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Consolidating Traralgon Power
Adjustments Pty Ltd
Consolidated
- ------------------------------------------------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
Electric utility - -
Unregulated power generation ($55,570) - -
Financial services and other - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating revenue (55,570) -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Fuel (8,759) - -
Purchased power - contracts - - -
Purchased power - power exchange - - -
Provisions for reg. adj. clauses - net - - -
Other operation and maintenance (14,702) - -
Depreciation, decommissioning and
amortization 8,295 - -
Property and other taxes - - -
Net loss (gain) on sale of utility plant - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total operating expenses (15,166) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Operating income (40,404) - -
Interest and dividend income (12,894) $853 -
Other nonoperating income (deductions)-net - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total other income - net (12,894) 853 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before fixed charges and taxes (53,2980) 853 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Interest and amortization on long-term debt (34,381) - -
Other interest expense - net - - -
Capitalized interest - - -
Dividends on preferred securities - - -
Dividends on utility preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Total fixed charges (34,381) - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Minority interest - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income before taxes (18,917) 853 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Income taxes 8,364 -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Net income (18,917) (7,511)
Retained earnings - beginning of year (56,569) (2,387) -
Dividends declared on common stock - - -
Dividends declared on preferred stock - - -
- ------------------------------------------------------------- -------------------- -------------------- --------------------
Retained earnings - end of year ($75,486) ($9,898) -
============================================================= ==================== ==================== ====================
</TABLE>
<PAGE>
880
MEC International B.V.
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Derwent Cogeneration EcoElectrica, L.P. ISAB Energy s.r.l.
Limited
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $71,021 $205,518 $446,325
Revenues $29,463 - -
Net Income (Loss) $2,886 - -
Nature/Purpose of Business: To own and operate a 214 To own and operate a 540 To own and operate a 512
MW gas-fired, combined MW gas-fired, combined MW cogeneration facility
cycle cogeneration cycle cogeneration located in Sicily, Italy
facility in the United facility in Puerto Rico
Kingdom.
49% by MEC Priolo B.V.
Ownership Interest(s) 33% by Mission Energy 99.0% of 50% by
Company (UK) Limited EcoElectrica Holdings,
Ltd., which is owned 50%
by EME del Caribe
1.0% of 50% by
EcoElectrica Ltd. Which
is owned by EcoElectrica
Holdings, Ltd., which is
owned 50% by EME del
Caribe
</TABLE>
<PAGE>
881
MEC International B.V.
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: P.T. Paiton Energy Company P.T. Adaro Indonesia San Pascual Cogeneration
Company (Philippines) Ltd.
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $1,079,487 $18,786 -
Revenues $48,776 $27,659 -
Net Income (Loss) $6,667 $1,707 -
Nature/Purpose of Business: To own and operate a Fuel supplier for P.T. To own and operate a 304
1,230 MW cogeneration Paiton Energy Company MW oil-fired, combined
facility located in located in Indonesia cycle cogeneration
Indonesia. facility located in
Philippines.
Ownership Interest(s) 40% by MEC Indonesia B.V. 10% MEC Indo Coal B.V.
49% by Morningstar
Holdings B.V.
1% by San Pascual
Cogeneration Company
International B.V.
</TABLE>
<PAGE>
882
MEC International B.V.
Equity Investments
December 31, 1999
(In thousands)
<TABLE>
<CAPTION>
Name of Entity: Tri Energy Company Limited
- ---------------------------------------- --------------------------- --------------------------- ---------------------------
<S> <C> <C> <C>
Equity Interest:
Assets $68,300 - -
Revenues - - -
Net Income (Loss) - - -
Nature/Purpose of Business: To own and operate a 700
MW combined cycle cogeneration facility
located in Thailand.
Ownership Interest(s) 25% by EME Tri Gen B.V.
</TABLE>
EXHIBIT B
FINANCIAL DATA SCHEDULE
The following is provided for Edison International on a consolidated
basis:
Item No. Caption Heading Amount
- ------------------ ------------------------------------- ---------------------
1. Total Assets $36,229,388,000
2. Total Operating Revenue $ 9,670,064,000
3. Net Income $ 623,030,000
<PAGE>
884
EXHIBIT C
EXEMPT WHOLESALE GENERATORS [EWGs]
AND FOREIGN UTILITY COMPANIES [FUCOs]
4.01 EPZ MISSION FUNDING MU TRUST [FUCO]
00 Edison International
01 The Mission Group
02 Edison Capital
03 Edison Funding Company
04 Mission Funding Epsilon
05 Mission Funding Alpha
06 Mission Funding Mu
07 EPZ Mission Funding Mu Trust
4.02 EPZ MISSION FUNDING NU TRUST [FUCO]
00 Edison International
01 The Mission Group
02 Edison Capital
03 Edison Funding Company
04 Mission Funding Epsilon
05 Mission Funding Delta
06 Mission Funding Nu
07 EPZ Mission Funding Nu Trust
4.03 AUBURNDALE POWER PARTNERS, L.P. [EWG]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Devereaux Energy Company
04 Auburndale Power Partners, L.P. (49%LP)
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 El Dorado Energy Company
04 Auburndale Power Partners, L.P. (1%GP)
4.04 BROOKLYN NAVY YARD COGENERATION PARTNERS, LP [EWG]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy New York, Inc.
04 Brooklyn Navy Yard Cogeneration Partners,LP(1% GP & 49%LP)
4.05 COMMONWEALTH ATLANTIC LIMITED PARTNERSHIP [EWG]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Hanover Energy Company
04 Chickahominy River Energy Corp.
05 Commonwealth Atlantic Limited Partnership (50%)
<PAGE>
885
4.06 GORDONSVILLE ENERGY, LP [EWG]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Madison Energy Company
04 Gordonsville Energy, LP (49%)
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Rapidan Energy Company
04 Gordonsville Energy, LP (1%)
4.07 HARBOR COGENERATION COMPANY [EWG]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 South Coast Energy Company
04 Harbor Cogeneration Company (30%GP)
4.08 EME HOMER CITY GENERATION L.P. [EWG]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Edison Mission Holdings Co.
04 Chestnut Ridge Energy Company
05 EME Homer City Generation L.P. (99%LP)
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Edison Mission Holdings Co.
04 Mission Energy Westside, Inc.
05 EME Homer City Generation L.P. (1%GP)
4.09 MIDWEST GENERATION, LLC [EWG]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Midwest Generation EME, LLC
04 Edison Mission Midwest Holdings Co.
05 Midwest Generation, LLC
4.10 NEVADA SUN-PEAK LIMITED PARTNERSHIP [EWG]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Quartz Peak Energy Company
04 Nevada Sun-Peak Limited Partnership (50%)
<PAGE>
886
4.11 CONTACT ENERGY LIMITED [EWG]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Edison Mission Energy Global Management, Inc.
04 Majestic Energy Limited
05 EME Royale
06 Edison Mission Energy Taupo Limited
07 Contact Energy Limited (40%)
4.12 KWINANA POWER PARTNERSHIP [FUCO]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 MEC Perth B.V. (99%)
06 Kwinana Power Partnership (99%)
- ---
05 MEC International Holdings B.V.
06 MEC Perth B.V. (1%)
07 Kwinana Power Partnership (99%)
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 Loy Yang Holdings Pty Ltd.
06 Edison Mission Energy Holdings Pty Ltd.
07 Mission Energy (Kwinana) Pty Ltd.
08 Kwinana Power Partnership (99%)
4.13 LOY YANG B JOINT VENTURE [FUCO]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
- ---
05A Latrobe Power Pty Ltd (99%)
06A Mission Victoria Partnership (52.31%)
07A Latrobe Power Partnership (99%)
08A Loy Yang B Joint Venture (51%)
- ---
05B Loy Yang Holdings Pty Ltd
06B Edison Mission Energy Holdings Pty Ltd
07B Edison Mission Energy Australia Ltd
08B Latrobe Power Partnership (1%)
09B Loy Yang B Joint Venture (51%)
- ---
05C Loy Yang Holdings Pty Ltd
06C Latrobe Power Pty Ltd (1%)
07C Mission Victoria Partnership (52.31%)
08C Latrobe Power Partnership (99%)
09C Loy Yang B Joint Venture (51%)
- ---
<PAGE>
887
05D Loy Yang Holdings Pty Ltd
06D Mission Energy Ventures Australia Pty Ltd
07D Mission Victoria Partnership (1%)
08D Latrobe Power Partnership (99%)
09D Loy Yang B Joint Venture (51%)
- ---
05E Loy Yang Holdings Pty Ltd
06E Traralgon Power Pty Ltd (1%)
07E Mission Victoria Partnership (46.69%)
08E Latrobe Power Partnership (99%)
09E Loy Yang B Joint Venture (51%)
- ---
05F Traralgon Power Pty Ltd (99%)
06F Mission Victoria Partnership (46.69%)
07F Latrobe Power Partnership (99%)
08F Loy Yang B Joint Venture (51%)
- ---
05G Mission Energy Company (UK) Limited
06G Mission Hydro (UK) Ltd
07G Mission Hydro Limited Partnership (1%)
08G EME Generation Holdings Ltd
09G EME Victoria Generation Ltd
10G Mission Energy Development Australia
Pty Ltd
11G Gippsland Power Pty Ltd
12G Loy Yang B Joint Venture (49%)
- ---
05H MEC Wales B.V. (99%)
06H Mission Hydro Limited Partnership (69%)
07H EME Generation Holdings Ltd
08H EME Victoria Generation Ltd
09H Mission Energy Development Australia
Pty Ltd
10H Gippsland Power Pty Ltd
11H Loy Yang B Joint Venture (49%)
- ---
05I MEC International Holdings B.V.
06I MEC Wales B.V. (1%)
07I Mission Hydro Limited Partnership (69%)
08I EME Generation Holdings Ltd
09I EME Victoria Generation Ltd
10I Mission Energy Development Australia
Pty Ltd
11I Gippsland Power Pty Ltd
12I Loy Yang B Joint Venture (49%)
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Wales Company
04 Mission Hydro Limited Partnership (30%)
05 EME Generation Holdings Ltd
06 EME Victoria Generation Ltd
07 Mission Energy Development Australia Pty Ltd
08 Gippsland Power Pty Ltd
09 Loy Yang B Joint Venture (49%)
<PAGE>
888
4.14 P. T. PAITON ENERGY COMPANY [FUCO]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 MEC Indonesia B.V. (99%)
06 P. T. Paiton Energy Company (40%)
- ---
05 MEC International Holdings B.V.
06 MEC Indonesia B.V. (1%)
07 P. T. Paiton Energy Company (40%)
4.15 DERWENT COGENERATION LIMITED [FUCO]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 Mission Energy Company (UK) Limited
06 Derwent Cogeneration Limited (33%)
4.16 FIRST HYDRO COMPANY [FUCO]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
- ---
05J Mission Energy Company (UK) Limited
06J Mission Hydro (UK) Ltd
07J Mission Hydro Limited Partnership (1%)
08J EME Generation Holdings Ltd
09J First Hydro Holdings Company (99%)
10J First Hydro Company (99%)
- ---
05K Mission Energy Company (UK) Limited
06K Mission Hydro (UK) Ltd
07K Mission Hydro Limited Partnership (1%)
08K EME Generation Holdings Ltd
09K First Hydro Holdings Company (99%)
10K First Hydro Finance plc
11K First Hydro Company (1%)
- ---
05L MEC Wales B.V. (99%)
06L Mission Hydro Limited Partnership (69%)
07L EME Generation Holdings Ltd
08L First Hydro Holdings Company (99%)
09L First Hydro Company (99%)
- ---
05M MEC Wales B.V. (99%)
06M Mission Hydro Limited Partnership (69%)
07M EME Generation Holdings Ltd
08M First Hydro Holdings Company (99%)
09M First Hydro Finance plc
10M First Hydro Company (1%)
- ---
<PAGE>
889
05N MEC International Holdings B.V.
06N MEC Wales B.V. (1%)
07N Mission Hydro Limited Partnership (69%)
08N EME Generation Holdings Ltd
09N First Hydro Holdings Company (99%)
10N First Hydro Company (99%)
- ---
05O MEC International Holdings B.V.
06O MEC Wales B.V. (1%)
07O Mission Hydro Limited Partnership (69%)
08O EME Generation Holdings Ltd
09O First Hydro Holdings Company (99%)
10O First Hydro Finance plc
11O First Hydro Company (1%)
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Wales Company
04 Mission Hydro Limited Partnership (30%)
05 EME Generation Holdings Ltd
06 First Hydro Holdings Company (99%)
- ---
07 First Hydro Company (99%)
- ---
07 First Hydro Finance plc
08 First Hydro Company (1%)
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 Mission Energy Company (UK) Limited
06 Mission Hydro (UK) Ltd
07 First Hydro Holdings Company (1%)
08 First Hydro Company (99%)
- ---
08 First Hydro Finance plc
09 First Hydro Company (1%)
4.17 EDISON FIRST POWER LIMITED [FUCO]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 Global Generation B.V.
06 Edison First Power Holdings I
07 Maplekey Holdings Limited
08 Maplekey UK Finance Limited
09 Maplekey UK Limited
10 Edison First Power Limited
<PAGE>
890
4.18 IBERICA DE ENERGIAS, S.A. [FUCO]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 Hydro Energy B.V. (10%)
06 Iberica de Energias, S.A. (96.65%)
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 Iberian Hy-Power Amsterdam B.V.
06 Hydro Energy B.V. (90%)
07 Iberica de Energias, S.A. (96.65%)
- ---
06 Iberica de Energias (3.35%)
4.19 ELECTROMETALURGICA DEL EBRO, S.A. [FUCO]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 Hydro Energy B.V. (10%)
06 Iberica de Energias, S.A. (96.65%)
07 Electrometalurgica del Ebro, S.A. (91.32%)
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 Iberian Hy-Power Amsterdam B.V.
06 Hydro Energy B.V. (90%)
07 Iberica de Energias, S.A. (96.65%)
08 Electrometalurgica del Ebro, S.A. (91.32%)
- --
06 Iberica de Energias, S.A. (3.35%)
07 Electrometalurgica del Ebro, S.A. (91.32%)
4.20 LAKELAND POWER LIMITED [FUCO]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 Mission Energy Company (UK) Limited
06 Pride Hold Limited (99%)
07 Lakeland Power Limited
- ---
05 Pride Hold Limited (1%)
06 Lakeland Power Limited
<PAGE>
891
4.21 ECOELECTRICA L.P. [FUCO]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 EcoElectrica S.a.r.l.
06 EME del Caribe Holding GmbH
07 EME del Caribe
08 EcoElectrica Holdings, Ltd. 50%
09 EcoElectrica Ltd.
10 Ecoelectrica LP (1%)
- ---
09 Ecoelectrica LP (99%)
4.22 TRI ENERGY COMPANY LIMITED [FUCO]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 EME Tri Gen B.V.
06 Tri Energy Company Limited (25%)
4.23 ISAB ENERGY, s.r.l. [FUCO]
00 Edison International
01 The Mission Group
02 Edison Mission Energy
03 Mission Energy Holdings International, Inc.*
04 MEC International B.V.
05 MEC Priolo B.V. (99%)
06 ISAB Energy, s.r.l. (49%)
- ---
05 MEC International Holdings B.V.
06 MEC Priolo B.V. (1%)
07 ISAB Energy, s.r.l. (49%)
* Mission Energy Holdings International, Inc. directly owns 99.99% (100%
of the Class A shares) of MEC International B.V. ("MECI") and
indirectly owns 0.01% of MECI through its wholly owned subsidiary EME
UK International LLC, which owns 100% of the Class B shares of MECI.
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
(EIX Financial Data Schedule - U-3A-2 12/31/1999)
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 36,229,388,000
<TOTAL-OPERATING-REVENUES> 9,670,064,000
<NET-INCOME> 623,030,000
</TABLE>
