<PAGE>
March 21, 1994
Securities and Exchange Commission
450 Fifth Street, N.W.
Judiciary Plaza
Washington, D.C. 20549
Re: Yankee Energy System, Inc.
Ladies and Gentlemen:
Enclosed for filing on behalf of the above-referenced
company, please find its statement on Form U-3A-2 with respect to
Yankee Energy System's exemption under Rule 2 from the provisions
of the Public Utility Holding Act of 1935. This was originally
electronically filed and accepted on Thursday, March 3, 1994
(Accession No.: 0000849210-94-000010). It is our understanding
that the SEC can no longer retrieve this file and has requested
that we electronically refile Form U-3A-2. A hard copy will also
be filed today.
If you have any questions, please call Michelle Morin at
(203) 639-4401.
A check in the amount of $500 was wire transferred on
Tuesday, March 1, 1994 to cover the cost of filing.
Very truly yours,
s/Charles E. Gooley
CEG/mcm
Enclosures
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-3A-2
STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION
UNDER RULE U-3A-2
From the Provisions of
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
YANKEE ENERGY SYSTEM, INC.
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. In support of such claim for exemption the
following information is submitted:
1. Yankee Energy System, Inc. (Yankee Energy) is a corporation
organized under the laws of the State of Connecticut. Yankee
Energy is the holding company for Yankee Gas Services Company
(Yankee Gas), a gas utility company, and four non-utility
subsidiaries, Housatonic Corporation (Housatonic), NorConn
Properties, Inc. (NorConn), Yankee Energy Financial Services
Company (Yankee Financial) and Yankee Production Services, Inc.
(Yankee Production). These companies are referred to
collectively herein as "the Yankee Energy System." Yankee
Energy's business essentially is confined to the ownership of its
subsidiaries. Yankee Gas, the principal subsidiary of Yankee
Energy, is a Connecticut corporation that purchases, distributes
and sells natural gas at retail in Connecticut.
Yankee Energy conducts non-utility operations through four
subsidiaries, Housatonic, NorConn, Yankee Financial and Yankee
Production. All four non-utility subsidiaries are Connecticut
corporations. Housatonic owns the Yankee Energy System's
investment in the Iroquois Gas Transmission System Project and
will be used for no other business purpose. NorConn was formed
<PAGE>
to hold non-utility property interests that may be acquired by
the Yankee Energy System. Yankee Financial was formed to
facilitate the growth in gas sales by providing financing for
natural gas installations. Yankee Production is a new subsidiary
created in 1993 for the primary purpose of stimulating gas sales
for Yankee Gas by funding gas-fired electric generation projects
at selected customer sites.
Yankee Energy and Yankee Gas are predominantly intrastate in
character. Each carries on its business entirely within the
State of Connecticut, the state in which each is organized.
2. Yankee Gas purchases, distributes and sells natural gas to
approximately 179,000 residential, commercial and industrial
users in Connecticut. Its service territory consists of 63
cities and towns, and covers approximately 1,800 square miles,
all in Connecticut.
Yankee Gas assets include distribution lines (mains and
services), meters, pumps, valves and pressure and flow
controllers, all located in Connecticut. Yankee Gas owns
approximately 2,658 miles of distribution mains, 124,013 service
lines and 175,814 active meters for customer use, all located in
Connecticut. Yankee Gas also owns six propane production
facilities and one storage facility, all located in Connecticut.
3. The following information is for the calendar year 1993.
a. Number of Mcf of natural or manufactured gas
distributed at retail: 41,741,725.
b. Number of Mcf of natural gas distributed at retail
outside the State of Connecticut: None.
<PAGE>
c. Number of Mcf of natural gas sold at wholesale outside
of the State of Connecticut, or at the boundary of the
State of Connecticut: 91,165.
d. Number of Mcf of natural or manufactured gas purchased
outside the State of Connecticut, or at the Connecticut
state line: In 1993, Yankee Gas purchased 40,457,051
Mcf of natural gas. All gas purchased is ultimately
delivered to Connecticut via interstate pipelines.
Attached as Exhibit A is a consolidating statement of income
and surplus for Yankee Energy and its subsidiaries for the last
calendar year, together with a consolidating balance sheet for
Yankee Energy and its subsidiaries as of the close of the last
calendar year.
The above-named claimant has caused this statement to be
duly executed on its behalf by an authorized officer on this 28th
day of February, 1994.
YANKEE ENERGY SYSTEM, INC.
By: s/Charles E. Gooley
Charles E. Gooley
Vice President and General Counsel
SEAL
ATTEST:
s/John J. Smith
Name: John J. Smith
Title: Vice President
<PAGE>
Name, title and address of officer to whom notices and
correspondence concerning this statement should be addressed:
Charles E. Gooley, Esq.
Vice President and General Counsel
Yankee Energy System, Inc.
599 Research Parkway
Meriden, CT 06450
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF INCOME (a) Page 1 of 28
TWELVE MONTHS ENDED DECEMBER 31, 1993
<TABLE>
<CAPTION>
YANKEE ENERGY
SYSTEM, INC.
(PARENT)
<S> <C>
OPERATING REVENUES
LESS: COST OF GAS
REVENUES, NET OF COST OF GAS
OTHER OPERATING EXPENSES:
OPERATIONS (42)
MAINTENANCE
DEPRECIATION
FEDERAL AND STATE INCOME TAXES
TAXES OTHER THAN INCOME TAXES
TOTAL OTHER OPERATING EXPENSES (42)
OPERATING INCOME (LOSS) 42
OTHER INCOME, (EXPENSE) NET:
ALLOWANCE FOR OTHER FUNDS USED
DURING CONSTRUCTION
EQUITY IN EARNINGS OF SUBSIDIARIES 17,993
FEDERAL AND STATE INCOME TAXES
OTHER, NET 31
OTHER INCOME, (EXPENSE) NET 18,024
INCOME (LOSS) BEFORE INTEREST CHARGES 18,066
INTEREST CHARGES:
INTEREST ON LONG-TERM DEBT
OTHER INTEREST 42
ALLOWANCE FOR BORROWED FUNDS
USED DURING CONSTRUCTION
INTEREST CHARGES, NET 42
NET INCOME (LOSS) $18,024
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF INCOME (a) Page 2 of 28
TWELVE MONTHS ENDED DECEMBER 31, 1993
<TABLE>
<CAPTION>
YANKEE GAS
SERVICES
COMPANY
<S> <C>
OPERATING REVENUES $303,459
LESS: COST OF GAS 157,529
REVENUES, NET OF COST OF GAS 145,930
OTHER OPERATING EXPENSES:
OPERATIONS 53,081
MAINTENANCE 7,110
DEPRECIATION 17,328
FEDERAL AND STATE INCOME TAXES 15,896
TAXES OTHER THAN INCOME TAXES 22,549
TOTAL OTHER OPERATING EXPENSES 115,964
OPERATING INCOME (LOSS) 29,966
OTHER INCOME, (EXPENSE) NET:
ALLOWANCE FOR OTHER FUNDS USED
DURING CONSTRUCTION 134
EQUITY IN EARNINGS OF SUBSIDIARIES
FEDERAL AND STATE INCOME TAXES 292
OTHER, NET 225
OTHER INCOME, (EXPENSE) NET 651
INCOME (LOSS) BEFORE INTEREST CHARGES 30,617
INTEREST CHARGES:
INTEREST ON LONG-TERM DEBT 13,205
OTHER INTEREST 339
ALLOWANCE FOR BORROWED FUNDS
USED DURING CONSTRUCTION (117)
INTEREST CHARGES, NET 13,427
NET INCOME (LOSS) $17,190
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF INCOME (a) Page 3 of 28
TWELVE MONTHS ENDED DECEMBER 31, 1993
<TABLE>
<CAPTION>
NORCONN
PROPERTIES,
INC.
<S> <C>
OPERATING REVENUES $704
LESS: COST OF GAS
REVENUES, NET OF COST OF GAS 704
OTHER OPERATING EXPENSES:
OPERATIONS 25
MAINTENANCE
DEPRECIATION 116
FEDERAL AND STATE INCOME TAXES (15)
TAXES OTHER THAN INCOME TAXES
TOTAL OTHER OPERATING EXPENSES 126
OPERATING INCOME (LOSS) 578
OTHER INCOME, (EXPENSE) NET:
ALLOWANCE FOR OTHER FUNDS USED
DURING CONSTRUCTION
EQUITY IN EARNINGS OF SUBSIDIARIES
FEDERAL AND STATE INCOME TAXES (65)
OTHER, NET
OTHER INCOME, (EXPENSE) NET (65)
INCOME (LOSS) BEFORE INTEREST CHARGES 513
INTEREST CHARGES:
INTEREST ON LONG-TERM DEBT 399
OTHER INTEREST 11
ALLOWANCE FOR BORROWED FUNDS
USED DURING CONSTRUCTION
INTEREST CHARGES, NET 410
NET INCOME (LOSS) $103
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF INCOME (a) Page 4 of 28
TWELVE MONTHS ENDED DECEMBER 31, 1993
<TABLE>
<CAPTION>
HOUSATONIC
CORPORATION
<S> <C>
OPERATING REVENUES
LESS: COST OF GAS
REVENUES, NET OF COST OF GAS
OTHER OPERATING EXPENSES:
OPERATIONS 57
MAINTENANCE
DEPRECIATION
FEDERAL AND STATE INCOME TAXES
TAXES OTHER THAN INCOME TAXES 114
TOTAL OTHER OPERATING EXPENSES 171
OPERATING INCOME (LOSS) (171)
OTHER INCOME, (EXPENSE) NET:
ALLOWANCE FOR OTHER FUNDS USED
DURING CONSTRUCTION
EQUITY IN EARNINGS OF SUBSIDIARIES
FEDERAL AND STATE INCOME TAXES (1,220)
OTHER, NET 3,716
OTHER INCOME, (EXPENSE) NET 2,496
INCOME (LOSS) BEFORE INTEREST CHARGES 2,325
INTEREST CHARGES:
INTEREST ON LONG-TERM DEBT 401
OTHER INTEREST
ALLOWANCE FOR BORROWED FUNDS
USED DURING CONSTRUCTION
INTEREST CHARGES, NET 401
NET INCOME (LOSS) $1,924
(a) Unaudited
</TABLE>
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF INCOME (a) Page 5 of 28
TWELVE MONTHS ENDED DECEMBER 31, 1993
<TABLE>
<CAPTION>
YANKEE ENERGY
FINANCIAL
SERVICES
COMPANY
<S> <C>
OPERATING REVENUES
LESS: COST OF GAS
REVENUES, NET OF COST OF GAS
OTHER OPERATING EXPENSES:
OPERATIONS 25
MAINTENANCE
DEPRECIATION
FEDERAL AND STATE INCOME TAXES
TAXES OTHER THAN INCOME TAXES
TOTAL OTHER OPERATING EXPENSES 25
OPERATING INCOME (LOSS) (25)
OTHER INCOME, (EXPENSE) NET:
ALLOWANCE FOR OTHER FUNDS USED
DURING CONSTRUCTION
EQUITY IN EARNINGS OF SUBSIDIARIES
FEDERAL AND STATE INCOME TAXES
OTHER, NET 3
OTHER INCOME, (EXPENSE) NET 3
INCOME (LOSS) BEFORE INTEREST CHARGES (22)
INTEREST CHARGES:
INTEREST ON LONG-TERM DEBT
OTHER INTEREST 31
ALLOWANCE FOR BORROWED FUNDS
USED DURING CONSTRUCTION
INTEREST CHARGES, NET 31
NET INCOME (LOSS) ($53)
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF INCOME (a) Page 6 of 28
TWELVE MONTHS ENDED DECEMBER 31, 1993
<TABLE>
<CAPTION>
YANKEE ENERGY
PRODUCTION
SERVICES, INC.
<S> <C>
OPERATING REVENUES
LESS: COST OF GAS
REVENUES, NET OF COST OF GAS
OTHER OPERATING EXPENSES:
OPERATIONS 74
MAINTENANCE
DEPRECIATION
FEDERAL AND STATE INCOME TAXES
TAXES OTHER THAN INCOME TAXES
TOTAL OTHER OPERATING EXPENSES 74
OPERATING INCOME (LOSS) (74)
OTHER INCOME, (EXPENSE) NET:
ALLOWANCE FOR OTHER FUNDS USED
DURING CONSTRUCTION
EQUITY IN EARNINGS OF SUBSIDIARIES
FEDERAL AND STATE INCOME TAXES
OTHER, NET
OTHER INCOME, (EXPENSE) NET 0
INCOME (LOSS) BEFORE INTEREST CHARGES (74)
INTEREST CHARGES:
INTEREST ON LONG-TERM DEBT
OTHER INTEREST
ALLOWANCE FOR BORROWED FUNDS
USED DURING CONSTRUCTION
INTEREST CHARGES, NET 0
NET INCOME (LOSS) ($74)
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF INCOME (a) Page 7 of 28
TWELVE MONTHS ENDED DECEMBER 31, 1993
<TABLE>
<CAPTION>
ELIMINATIONS CONSOLIDATIONS
<S> <C> <C>
OPERATING REVENUES $704 $303,459
LESS: COST OF GAS 157,529
REVENUES, NET OF COST OF GAS 704 145,930
OTHER OPERATING EXPENSES:
OPERATIONS 706 52,514
MAINTENANCE 7,110
DEPRECIATION 17,444
FEDERAL AND STATE INCOME TAXES 15,881
TAXES OTHER THAN INCOME TAXES 22,664
TOTAL OTHER OPERATING EXPENSES 706 115,613
OPERATING INCOME (LOSS) (2) 30,317
OTHER INCOME, (EXPENSE) NET:
ALLOWANCE FOR OTHER FUNDS USED
DURING CONSTRUCTION 134
EQUITY IN EARNINGS OF SUBSIDIARIES 17,993 --
FEDERAL AND STATE INCOME TAXES (993)
OTHER, NET 41 3,934
OTHER INCOME, (EXPENSE) NET 18,034 3,075
INCOME (LOSS) BEFORE INTEREST
CHARGES 18,032 33,392
INTEREST CHARGES:
INTEREST ON LONG-TERM DEBT 14,005
OTHER INTEREST 42 381
ALLOWANCE FOR BORROWED FUNDS
USED DURING CONSTRUCTION (117)
INTEREST CHARGES, NET 42 14,269
NET INCOME (LOSS) $17,990 $19,123
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 8 of 28
ASSETS
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
YANKEE ENERGY
SYSTEM, INC.
(PARENT)
<S> <C>
ASSETS
UTILITY PLANT, AT ORIGINAL COST
LESS: ACCUMULATED PROVISION FOR
DEPRECIATION
CONSTRUCTION WORK IN PROGRESS
TOTAL NET UTILITY PLANT
OTHER PROPERTY AND INVESTMENTS:
OTHER PROPERTY
INVESTMENTS IN SUBSIDIARY
COMPANIES, AT EQUITY 150,808
OTHER INVESTMENTS
TOTAL OTHER PROPERTY AND INVESTMENTS 150,808
CURRENT ASSETS:
CASH 67
ACCOUNTS RECEIVABLE, NET 4,209
FUEL SUPPLIES
OTHER MATERIAL & SUPPLIES
ACCRUED UTILITY REVENUES
CURRENT PORTION ACCUMULATED
DEFERRED INCOME TAXES
PREPAYMENTS AND OTHER
TOTAL CURRENT ASSETS 4,276
UNAMORTIZED DEBT EXPENSE
DEFERRED GAS COSTS AND OTHER (246)
RECOVERABLE PIPELINE TRANSITION COSTS
RECOVERABLE ENVIRONMENTAL CLEANUP COSTS
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
INCOME TAXES
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
POSTRETIREMENT BENEFITS
TOTAL ASSETS $154,838
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 9 of 28
ASSETS
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
YANKEE GAS
SERVICES
COMPANY
<S> <C>
ASSETS
UTILITY PLANT, AT ORIGINAL COST $449,817
LESS: ACCUMULATED PROVISION FOR
DEPRECIATION 153,447
296,370
CONSTRUCTION WORK IN PROGRESS 13,029
TOTAL NET UTILITY PLANT 309,399
OTHER PROPERTY AND INVESTMENTS:
OTHER PROPERTY 88
INVESTMENTS IN SUBSIDIARY
COMPANIES, AT EQUITY
OTHER INVESTMENTS 1
TOTAL OTHER PROPERTY AND INVESTMENTS 89
CURRENT ASSETS:
CASH 24
ACCOUNTS RECEIVABLE, NET 37,140
FUEL SUPPLIES 12,922
OTHER MATERIAL & SUPPLIES 1,912
ACCRUED UTILITY REVENUES 21,147
CURRENT PORTION ACCUMULATED
DEFERRED INCOME TAXES 557
PREPAYMENTS AND OTHER 1,927
TOTAL CURRENT ASSETS 75,629
UNAMORTIZED DEBT EXPENSE 667
DEFERRED GAS COSTS AND OTHER 3,948
RECOVERABLE PIPELINE TRANSITION COSTS 8,188
RECOVERABLE ENVIRONMENTAL CLEANUP COSTS 36,050
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
INCOME TAXES 30,866
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
POSTRETIREMENT BENEFITS 355
TOTAL ASSETS $465,191
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 10 of 28
ASSETS
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
NORCONN
PROPERTIES,
INC.
<S> <C>
ASSETS
UTILITY PLANT, AT ORIGINAL COST
LESS: ACCUMULATED PROVISION FOR
DEPRECIATION (1)
1
CONSTRUCTION WORK IN PROGRESS 10
TOTAL NET UTILITY PLANT 11
OTHER PROPERTY AND INVESTMENTS:
OTHER PROPERTY 5,873
INVESTMENTS IN SUBSIDIARY
COMPANIES, AT EQUITY
OTHER INVESTMENTS
TOTAL OTHER PROPERTY AND INVESTMENTS 5,873
CURRENT ASSETS:
CASH 86
ACCOUNTS RECEIVABLE, NET 64
FUEL SUPPLIES
OTHER MATERIAL & SUPPLIES
ACCRUED UTILITY REVENUES
CURRENT PORTION ACCUMULATED
DEFERRED INCOME TAXES
PREPAYMENTS AND OTHER
TOTAL CURRENT ASSETS 150
UNAMORTIZED DEBT EXPENSE 19
DEFERRED GAS COSTS AND OTHER
RECOVERABLE PIPELINE TRANSITION COSTS
RECOVERABLE ENVIRONMENTAL CLEANUP COSTS
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
INCOME TAXES
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
POSTRETIREMENT BENEFITS
TOTAL ASSETS $6,053
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 11 of 28
ASSETS
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
HOUSATONIC
CORPORATION
<S> <C>
ASSETS
UTILITY PLANT, AT ORIGINAL COST
LESS: ACCUMULATED PROVISION FOR
DEPRECIATION
CONSTRUCTION WORK IN PROGRESS
TOTAL NET UTILITY PLANT
OTHER PROPERTY AND INVESTMENTS:
OTHER PROPERTY
INVESTMENTS IN SUBSIDIARY
COMPANIES, AT EQUITY
OTHER INVESTMENTS 17,344
TOTAL OTHER PROPERTY AND INVESTMENTS 17,344
CURRENT ASSETS:
CASH 43
ACCOUNTS RECEIVABLE, NET 1,825
FUEL SUPPLIES
OTHER MATERIAL & SUPPLIES
ACCRUED UTILITY REVENUES
CURRENT PORTION ACCUMULATED
DEFERRED INCOME TAXES
PREPAYMENTS AND OTHER
TOTAL CURRENT ASSETS 1,868
UNAMORTIZED DEBT EXPENSE
DEFERRED GAS COSTS AND OTHER
RECOVERABLE PIPELINE TRANSITION COSTS
RECOVERABLE ENVIRONMENTAL CLEANUP COSTS
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
INCOME TAXES 41
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
POSTRETIREMENT BENEFITS
TOTAL ASSETS $19,253
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 12 of 28
ASSETS
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
YANKEE ENERGY
FINANCIAL
SERVICES
COMPANY
<S> <C>
ASSETS
UTILITY PLANT, AT ORIGINAL COST
LESS: ACCUMULATED PROVISION FOR
DEPRECIATION
CONSTRUCTION WORK IN PROGRESS
TOTAL NET UTILITY PLANT
OTHER PROPERTY AND INVESTMENTS:
OTHER PROPERTY
INVESTMENTS IN SUBSIDIARY
COMPANIES, AT EQUITY
OTHER INVESTMENTS
TOTAL OTHER PROPERTY AND INVESTMENTS 0
CURRENT ASSETS:
CASH 91
ACCOUNTS RECEIVABLE, NET 4,968
FUEL SUPPLIES
OTHER MATERIAL & SUPPLIES
ACCRUED UTILITY REVENUES
CURRENT PORTION ACCUMULATED
DEFERRED INCOME TAXES
PREPAYMENTS AND OTHER
TOTAL CURRENT ASSETS 5,059
UNAMORTIZED DEBT EXPENSE
DEFERRED GAS COSTS AND OTHER
RECOVERABLE PIPELINE TRANSITION COSTS
RECOVERABLE ENVIRONMENTAL CLEANUP COSTS
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
INCOME TAXES
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
POSTRETIREMENT BENEFITS
TOTAL ASSETS $5,059
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 13 of 28
ASSETS
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
YANKEE ENERGY
PRODUCTION
SERVICES, INC.
<S> <C>
ASSETS
UTILITY PLANT, AT ORIGINAL COST
LESS: ACCUMULATED PROVISION FOR
DEPRECIATION
CONSTRUCTION WORK IN PROGRESS
TOTAL NET UTILITY PLANT
OTHER PROPERTY AND INVESTMENTS:
OTHER PROPERTY
INVESTMENTS IN SUBSIDIARY
COMPANIES, AT EQUITY
OTHER INVESTMENTS
TOTAL OTHER PROPERTY AND INVESTMENTS 0
CURRENT ASSETS:
CASH 53
ACCOUNTS RECEIVABLE, NET
FUEL SUPPLIES
OTHER MATERIAL & SUPPLIES
ACCRUED UTILITY REVENUES
CURRENT PORTION ACCUMULATED
DEFERRED INCOME TAXES
PREPAYMENTS AND OTHER
TOTAL CURRENT ASSETS 53
UNAMORTIZED DEBT EXPENSE
DEFERRED GAS COSTS AND OTHER
RECOVERABLE PIPELINE TRANSITION COSTS
RECOVERABLE ENVIRONMENTAL CLEANUP COSTS
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
INCOME TAXES
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
POSTRETIREMENT BENEFITS
TOTAL ASSETS $53
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 14 of 28
ASSETS
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
ELIMINATIONS CONSOLIDATED
<S> <C> <C>
ASSETS
UTILITY PLANT, AT ORIGINAL COST $449,817
LESS: ACCUMULATED PROVISION FOR
DEPRECIATION 153,446
296,371
CONSTRUCTION WORK IN PROGRESS 13,040
TOTAL NET UTILITY PLANT 309,411
OTHER PROPERTY AND INVESTMENTS:
OTHER PROPERTY 5,961
INVESTMENTS IN SUBSIDIARY
COMPANIES, AT EQUITY 150,808 --
OTHER INVESTMENTS 17,345
TOTAL OTHER PROPERTY AND INVESTMENTS 150,808 23,306
CURRENT ASSETS:
CASH 364
ACCOUNTS RECEIVABLE, NET 6,111 42,096
FUEL SUPPLIES 12,922
OTHER MATERIAL & SUPPLIES 1,912
ACCRUED UTILITY REVENUES 21,147
CURRENT PORTION ACCUMULATED
DEFERRED INCOME TAXES 557
PREPAYMENTS AND OTHER 1,928
TOTAL CURRENT ASSETS 6,111 80,926
UNAMORTIZED DEBT EXPENSE 686
DEFERRED GAS COSTS AND OTHER 3,702
RECOVERABLE PIPELINE TRANSITION COSTS 8,188
RECOVERABLE ENVIRONMENTAL CLEANUP COSTS 36,050
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
INCOME TAXES 30,906
RECEIVABLE FROM CUSTOMERS FOR UNRECOVERED
POSTRETIREMENT BENEFITS 355
TOTAL ASSETS $156,919 $493,530
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 15 of 28
CAPITALIZATION AND LIABILITIES
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
YANKEE ENERGY
SYSTEM, INC.
(PARENT)
<S> <C>
CAPITALIZATION:
COMMON SHAREHOLDERS' EQUITY $148,387
PREFERRED STOCK SUBJECT
TO MANDATORY REDEMPTION
LONG-TERM DEBT, NET OF CURRENT PORTION 1,800
TOTAL CAPITALIZATION 150,187
CURRENT LIABILITIES:
NOTES PAYABLE TO ASSOCIATED COMPANIES
NOTES PAYABLE TO BANKS 4,200
LONG-TERM DEBT, CURRENT PORTION 400
ACCOUNTS PAYABLE 1
ACCRUED TAXES 41
ACCRUED INTEREST 9
REFUNDABLE ENERGY COSTS
PIPELINE TRANSITION COSTS
OTHER CURRENT LIABILITIES
TOTAL CURRENT LIABILITIES 4,651
ACCUM DEFERRED INCOME TAXES
UNFUNDED DEFERRED INCOME TAXES
ACCUM DEFERRED INVESTMENT TAX CREDITS
RESERVE FOR ENVIRONMENTAL CLEANUP COSTS
UNFUNDED POSTRETIREMENT BENEFITS
OTHER DEFERRED CREDITS
TOTAL CAPITALIZATION AND LIABILITIES $154,838
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 16 of 28
CAPITALIZATION AND LIABILITIES
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
YANKEE GAS
SERVICES
COMPANY
<S> <C>
CAPITALIZATION:
COMMON SHAREHOLDERS' EQUITY $139,153
PREFERRED STOCK SUBJECT
TO MANDATORY REDEMPTION 15,000
LONG-TERM DEBT, NET OF CURRENT PORTION 140,633
TOTAL CAPITALIZATION 294,786
CURRENT LIABILITIES:
NOTES PAYABLE TO ASSOCIATED COMPANIES
NOTES PAYABLE TO BANKS 9,298
LONG-TERM DEBT, CURRENT PORTION 3,367
ACCOUNTS PAYABLE 20,226
ACCRUED TAXES 5,176
ACCRUED INTEREST 4,255
REFUNDABLE ENERGY COSTS 2,096
PIPELINE TRANSITION COSTS 1,181
OTHER CURRENT LIABILITIES 4,092
TOTAL CURRENT LIABILITIES 49,691
ACCUM DEFERRED INCOME TAXES 37,614
UNFUNDED DEFERRED INCOME TAXES 30,866
ACCUM DEFERRED INVESTMENT TAX CREDITS 10,118
RESERVE FOR ENVIRONMENTAL CLEANUP COSTS 35,000
UNFUNDED POSTRETIREMENT BENEFITS 355
OTHER DEFERRED CREDITS 6,761
TOTAL CAPITALIZATION AND LIABILITIES $465,191
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 17 of 28
CAPITALIZATION AND LIABILITIES
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
NORCONN
PROPERTIES,
INC.
<S> <C>
CAPITALIZATION:
COMMON SHAREHOLDERS' EQUITY $1,138
PREFERRED STOCK SUBJECT
TO MANDATORY REDEMPTION
LONG-TERM DEBT, NET OF CURRENT PORTION 3,900
TOTAL CAPITALIZATION 5,038
CURRENT LIABILITIES:
NOTES PAYABLE TO ASSOCIATED COMPANIES 800
NOTES PAYABLE TO BANKS
LONG-TERM DEBT, CURRENT PORTION 150
ACCOUNTS PAYABLE 41
ACCRUED TAXES 38
ACCRUED INTEREST
REFUNDABLE ENERGY COSTS
PIPELINE TRANSITION COSTS
OTHER CURRENT LIABILITIES
TOTAL CURRENT LIABILITIES 1,029
ACCUM DEFERRED INCOME TAXES
UNFUNDED DEFERRED INCOME TAXES (14)
ACCUM DEFERRED INVESTMENT TAX CREDITS
RESERVE FOR ENVIRONMENTAL CLEANUP COSTS
UNFUNDED POSTRETIREMENT BENEFITS
OTHER DEFERRED CREDITS
TOTAL CAPITALIZATION AND LIABILITIES $6,053
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 18 of 28
CAPITALIZATION AND LIABILITIES
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
HOUSATONIC
CORPORATION
<S> <C>
CAPITALIZATION:
COMMON SHAREHOLDERS' EQUITY $10,641
PREFERRED STOCK SUBJECT
TO MANDATORY REDEMPTION
LONG-TERM DEBT, NET OF CURRENT PORTION 2,000
TOTAL CAPITALIZATION 12,641
CURRENT LIABILITIES:
NOTES PAYABLE TO ASSOCIATED COMPANIES
NOTES PAYABLE TO BANKS
LONG-TERM DEBT, CURRENT PORTION 4,750
ACCOUNTS PAYABLE 6
ACCRUED TAXES 248
ACCRUED INTEREST 42
REFUNDABLE ENERGY COSTS
PIPELINE TRANSITION COSTS
OTHER CURRENT LIABILITIES
TOTAL CURRENT LIABILITIES 5,046
ACCUM DEFERRED INCOME TAXES 1,525
UNFUNDED DEFERRED INCOME TAXES 41
ACCUM DEFERRED INVESTMENT TAX CREDITS
RESERVE FOR ENVIRONMENTAL CLEANUP COSTS
UNFUNDED POSTRETIREMENT BENEFITS
OTHER DEFERRED CREDITS
TOTAL CAPITALIZATION AND LIABILITIES $19,253
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 19 of 28
CAPITALIZATION AND LIABILITIES
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
YANKEE ENERGY
FINANCIAL
SERVICES
COMPANY
<S> <C>
CAPITALIZATION:
COMMON SHAREHOLDERS' EQUITY ($51)
PREFERRED STOCK SUBJECT
TO MANDATORY REDEMPTION
LONG-TERM DEBT, NET OF CURRENT PORTION
TOTAL CAPITALIZATION (51)
CURRENT LIABILITIES:
NOTES PAYABLE TO ASSOCIATED COMPANIES 5,100
NOTES PAYABLE TO BANKS
LONG-TERM DEBT, CURRENT PORTION
ACCOUNTS PAYABLE 1
ACCRUED TAXES
ACCRUED INTEREST 9
REFUNDABLE ENERGY COSTS
PIPELINE TRANSITION COSTS
OTHER CURRENT LIABILITIES
TOTAL CURRENT LIABILITIES 5,110
ACCUM DEFERRED INCOME TAXES
UNFUNDED DEFERRED INCOME TAXES
ACCUM DEFERRED INVESTMENT TAX CREDITS
RESERVE FOR ENVIRONMENTAL CLEANUP COSTS
UNFUNDED POSTRETIREMENT BENEFITS
OTHER DEFERRED CREDITS
TOTAL CAPITALIZATION AND LIABILITIES $5,059
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 20 of 28
CAPITALIZATION AND LIABILITIES
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
YANKEE ENERGY
PRODUCTION
SERVICES, INC.
<S> <C>
CAPITALIZATION:
COMMON SHAREHOLDERS' EQUITY ($73)
PREFERRED STOCK SUBJECT
TO MANDATORY REDEMPTION
LONG-TERM DEBT, NET OF CURRENT PORTION
TOTAL CAPITALIZATION (73)
CURRENT LIABILITIES:
NOTES PAYABLE TO ASSOCIATED COMPANIES 125
NOTES PAYABLE TO BANKS
LONG-TERM DEBT, CURRENT PORTION
ACCOUNTS PAYABLE 1
ACCRUED TAXES
ACCRUED INTEREST
REFUNDABLE ENERGY COSTS
PIPELINE TRANSITION COSTS
OTHER CURRENT LIABILITIES
TOTAL CURRENT LIABILITIES 126
ACCUM DEFERRED INCOME TAXES
UNFUNDED DEFERRED INCOME TAXES
ACCUM DEFERRED INVESTMENT TAX CREDITS
RESERVE FOR ENVIRONMENTAL CLEANUP COSTS
UNFUNDED POSTRETIREMENT BENEFITS
OTHER DEFERRED CREDITS
TOTAL CAPITALIZATION AND LIABILITIES $53
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING BALANCE SHEETS(a) Page 21 of 28
CAPITALIZATION AND LIABILITIES
AT DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
Eliminations Consolidated
<S> <C> <C>
CAPITALIZATION:
COMMON SHAREHOLDERS' EQUITY $150,808 $148,387
PREFERRED STOCK SUBJECT
TO MANDATORY REDEMPTION 15,000
LONG-TERM DEBT, NET OF CURRENT PORTION 148,333
TOTAL CAPITALIZATION $150,808 311,720
CURRENT LIABILITIES:
NOTES PAYABLE TO ASSOCIATED COMPANIES 6,025 --
NOTES PAYABLE TO BANKS 13,498
LONG-TERM DEBT, CURRENT PORTION 8,667
ACCOUNTS PAYABLE 76 20,200
ACCRUED TAXES 5,502
ACCRUED INTEREST 10 4,307
REFUNDABLE ENERGY COSTS 2,096
PIPELINE TRANSITION COSTS 1,181
OTHER CURRENT LIABILITIES 4,092
TOTAL CURRENT LIABILITIES 6,111 59,543
ACCUM DEFERRED INCOME TAXES 39,140
UNFUNDED DEFERRED INCOME TAXES 30,892
ACCUM DEFERRED INVESTMENT TAX CREDITS 10,118
RESERVE FOR ENVIRONMENTAL CLEANUP COSTS 35,000
UNFUNDED POSTRETIREMENT BENEFITS 355
OTHER DEFERRED CREDITS 6,762
TOTAL CAPITALIZATION AND LIABILITIES $156,919 $493,530
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF COMMON Page 22 of 28
SHAREHOLDERS' EQUITY (a)
TWELVE MONTHS ENDED DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
YANKEE ENERGY
SYSTEM, INC.
(PARENT)
<S> <C>
COMMON SHARES $51,438
CAPITAL SURPLUS, PAID IN 87,109
RETAINED EARNINGS 14,170
EMPLOYEE STOCK OWNERSHIP
PLAN GUARANTEE (2,200)
CAPITAL STOCK EXPENSE (2,130)
TOTAL $148,387
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF COMMON Page 23 of 28
SHAREHOLDERS' EQUITY (a)
TWELVE MONTHS ENDED DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
YANKEE GAS
SERVICES
COMPANY
<S> <C>
COMMON SHARES $5
CAPITAL SURPLUS, PAID IN 80,781
RETAINED EARNINGS 58,437
EMPLOYEE STOCK OWNERSHIP
PLAN GUARANTEE
CAPITAL STOCK EXPENSE (70)
TOTAL $139,153
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF COMMON Page 24 of 28
SHAREHOLDERS' EQUITY (a)
TWELVE MONTHS ENDED DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
NORCONN
PROPERTIES,
INC.
<S> <C>
COMMON SHARES $1
CAPITAL SURPLUS, PAID IN 1,100
RETAINED EARNINGS 37
EMPLOYEE STOCK OWNERSHIP
PLAN GUARANTEE
CAPITAL STOCK EXPENSE
TOTAL $1,138
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF COMMON Page 25 of 28
SHAREHOLDERS' EQUITY (a)
TWELVE MONTHS ENDED DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
HOUSATONIC
CORPORATION
<S> <C>
COMMON SHARES $10
CAPITAL SURPLUS, PAID IN 6,650
RETAINED EARNINGS 3,981
EMPLOYEE STOCK OWNERSHIP
PLAN GUARANTEE
CAPITAL STOCK EXPENSE
TOTAL $10,641
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF COMMON Page 26 of 28
SHAREHOLDERS' EQUITY (a)
TWELVE MONTHS ENDED DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
YANKEE ENERGY
FINANCIAL
SERVICES
COMPANY
<S> <C>
COMMON SHARES $1
CAPITAL SURPLUS, PAID IN
RETAINED EARNINGS (52)
EMPLOYEE STOCK OWNERSHIP
PLAN GUARANTEE
CAPITAL STOCK EXPENSE
TOTAL ($51)
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF COMMON Page 27 of 28
SHAREHOLDERS' EQUITY (a)
TWELVE MONTHS ENDED DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
YANKEE ENERGY
PRODUCTION
SERVICES, INC.
<S> <C>
COMMON SHARES $1
CAPITAL SURPLUS, PAID IN
RETAINED EARNINGS (74)
EMPLOYEE STOCK OWNERSHIP
PLAN GUARANTEE
CAPITAL STOCK EXPENSE
TOTAL ($73)
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
<PAGE>
YANKEE ENERGY SYSTEM, INC. AND SUBSIDIARIES Exhibit A
CONSOLIDATING STATEMENTS OF COMMON Page 28 of 28
SHAREHOLDERS' EQUITY (a)
TWELVE MONTHS ENDED DECEMBER 31, 1993
(THOUSANDS OF DOLLARS)
<TABLE>
<CAPTION>
ELIMINATIONS CONSOLIDATED
<S> <C> <C>
COMMON SHARES $18 $51,438
CAPITAL SURPLUS, PAID IN 88,531 $87,109
RETAINED EARNINGS 62,329 $14,170
EMPLOYEE STOCK OWNERSHIP
PLAN GUARANTEE ($2,200)
CAPITAL STOCK EXPENSE (70) ($2,130)
TOTAL $150,808 $148,387
</TABLE>
(a) Unaudited
NOTE: Individual columns may not add to Consolidated amount
due to rounding.
>
