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DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Mktg Dynegy Energy NGC Storage,
and Trade Services, Inc. Inc.
20001 20008 20011
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ 5,844,344 $ 1,765 $ --
Costs 5,777,625 -- --
-----------------------------------------------
Operating margin 66,719 1,765 --
G&A 51,955 -- --
Depreciation & Amortization 22,010 -- --
-----------------------------------------------
Operating income (7,246) 1,765 --
Equity Earnings (543) (5,437) --
Interest Expense (27,682) -- --
Other Income 2,240 12,331 --
Other Expense (23,208) (0) --
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes (56,439) 8,658 --
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ (56,439) $ 8,658 $ --
===============================================
</TABLE>
Page 1 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Mktg Dynegy Energy NGC Storage,
and Trade Services, Inc. Inc.
20001 20008 20011
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year (27,984) 1,533 (15,176)
Net Income (56,439) 8,658 --
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ (84,423) $ 10,191 $ (15,176)
===============================================
</TABLE>
Page 2 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Mktg Dynegy Energy NGC Storage,
and Trade Services, Inc. Inc.
20001 20008 20011
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents (71) -- --
Accounts Receivable 967,506 5 --
Inventory 127,775 -- --
Risk Management Assets 153,388 -- --
Prepaids & Other Assets 26,361 14,996 --
-----------------------------------------------
Total Current Assets 1,274,958 15,002 --
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment 148,969 -- --
Accumulated DD&A (28,926) -- --
-----------------------------------------------
Net Property, Plant and Equipment 120,042 -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs 97,443 -- --
Investment-Unconsolidated Subs 2,463 (697) 0
Noncurrent Risk Mgmt Assets 162,569 -- --
Other Long Term Assets 124,355 1,093 --
-----------------------------------------------
Net Other Assets 386,830 396 0
-----------------------------------------------
Total Assets 1,781,831 15,398 0
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable 873,357 -- --
Intercompany Due To/From 135,716 3,795 14,390
Other Accrued Liabilities 59,328 973 --
Risk Management Liabilities 167,405 -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities 1,235,807 4,768 14,390
-----------------------------------------------
Long-Term Liabilities
Long Term Debt 300,000 -- --
Noncur Risk Mgmt Liabilities 80,211 -- --
Deferred Income Taxes-Noncur (4) -- (1)
Other Long Term Liab. Detail 112,475 438 786
-----------------------------------------------
Total Liabilities 1,728,490 5,206 15,175
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- -- --
Treasury Stock -- -- --
Addl Paid in Capital 137,764 1 1
Retained Earnings (84,423) 10,191 (15,176)
-----------------------------------------------
Total Equity 53,341 10,192 (15,175)
-----------------------------------------------
Total Liabilities & Equity 1,781,831 15,398 0
===============================================
</TABLE>
Page 3 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Power Dynegy
Marketing, Inc NIPC, Inc. Midstream, Inc.
21001 10002 30001
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ 2,300,727 $ -- $ --
Costs 2,218,847 -- --
-----------------------------------------------
Operating margin 81,881 -- --
G&A 31,176 -- --
Depreciation & Amortization 810 -- --
-----------------------------------------------
Operating income 49,895 -- --
Equity Earnings 659 -- --
Interest Expense (2,806) 2,654 --
Other Income 464 -- --
Other Expense (1,218) 0 --
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 46,994 2,654 --
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 46,994 $ 2,654 $ --
===============================================
</TABLE>
Page 4 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Power Dynegy
Marketing, Inc NIPC, Inc. Midstream, Inc.
21001 10002 30001
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 11,491 6,510 --
Net Income 46,994 2,654 --
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 58,484 $ 9,164 $ --
===============================================
</TABLE>
Page 5 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Power Dynegy
Marketing, Inc NIPC, Inc. Midstream, Inc.
21001 10002 30001
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents (796) -- --
Accounts Receivable 129,476 -- --
Inventory 3,610 -- --
Risk Management Assets 159,132 -- --
Prepaids & Other Assets (416) -- --
-----------------------------------------------
Total Current Assets 291,008 -- --
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- (86)
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- (86)
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- -- --
Investment-Unconsolidated Subs 4,153 -- --
Noncurrent Risk Mgmt Assets 252,611 -- --
Other Long Term Assets 22,360 40,145 --
-----------------------------------------------
Net Other Assets 279,124 40,145 --
-----------------------------------------------
Total Assets 570,132 40,145 (86)
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable 108,656 2 --
Intercompany Due To/From 6,864 1,114 (86)
Other Accrued Liabilities 368 276 --
Risk Management Liabilities 123,813 -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities 239,701 1,392 (86)
-----------------------------------------------
Long-Term Liabilities
Long Term Debt 33,414 -- --
Noncur Risk Mgmt Liabilities 223,586 -- --
Deferred Income Taxes-Noncur (212) -- --
Other Long Term Liab. Detail 15,158 29,326 --
-----------------------------------------------
Total Liabilities 511,647 30,718 (86)
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- -- --
Treasury Stock -- -- --
Addl Paid in Capital 1 263 --
Retained Earnings 58,484 9,164 --
-----------------------------------------------
Total Equity 58,485 9,427 --
-----------------------------------------------
Total Liabilities & Equity 570,132 40,145 (86)
===============================================
</TABLE>
Page 6 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dynegy O'Keene
Midstream Dynegy Gathering
Services, L.P. Energy, Inc. Company
30003 30005 30007
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ 3,402,578 $ -- $ 66
Costs 3,225,622 -- 80
-----------------------------------------------
Operating margin 176,956 -- (14)
G&A 54,933 3 45
Depreciation & Amortization 62,507 -- 155
-----------------------------------------------
Operating income 59,516 (3) (214)
Equity Earnings 12,601 -- --
Interest Expense (9,731) -- --
Other Income 5,385 -- --
Other Expense (4,788) -- --
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 62,983 (3) (214)
Income Tax Provision 0 -- --
-----------------------------------------------
Net Income (loss) $ 62,982 $ (3) $ (214)
===============================================
</TABLE>
Page 7 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dynegy O'Keene
Midstream Dynegy Gathering
Services, L.P. Energy, Inc. Company
30003 30005 30007
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year (32,553) 7,242 997
Net Income 62,982 (3) (214)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 30,429 $ 7,239 $ 783
===============================================
</TABLE>
Page 8 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dynegy O'Keene
Midstream Dynegy Gathering
Services, L.P. Energy, Inc. Company
30003 30005 30007
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents (16,220) -- --
Accounts Receivable 283,159 0 30
Inventory 78,205 -- --
Risk Management Assets (72) -- --
Prepaids & Other Assets 2,819 -- --
-----------------------------------------------
Total Current Assets 347,892 0 30
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment 1,238,570 (0) 4,266
Accumulated DD&A (337,466) -- (453)
-----------------------------------------------
Net Property, Plant and Equipment 901,104 (0) 3,814
-----------------------------------------------
Other Assets
Investment-Consolidated Subs 233,887 18,607 --
Investment-Unconsolidated Subs 141,154 -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets 165,866 -- --
-----------------------------------------------
Net Other Assets 540,907 18,607 --
-----------------------------------------------
Total Assets 1,789,903 18,607 3,844
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable 250,281 1 --
Intercompany Due To/From 241,590 (2,669) 3,017
Other Accrued Liabilities 43,672 50 44
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities 535,543 (2,618) 3,061
-----------------------------------------------
Long-Term Liabilities
Long Term Debt 162,888 -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur 269,899 1,972 --
Other Long Term Liab. Detail 39,045 -- --
-----------------------------------------------
Total Liabilities 1,007,375 (646) 3,061
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- -- --
Treasury Stock -- -- --
Addl Paid in Capital 752,099 12,014 --
Retained Earnings 30,429 7,239 783
-----------------------------------------------
Total Equity 782,528 19,253 783
-----------------------------------------------
Total Liabilities & Equity 1,789,903 18,607 3,844
===============================================
</TABLE>
Page 9 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy
Versado Gas Arkansas
DMS LP, Inc. Processors, LLC Gathering, Inc
30008 30076 30090
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ 166,087 $ --
Costs 28 131,548 0
-----------------------------------------------
Operating margin (28) 34,539 (0)
G&A -- (3) --
Depreciation & Amortization 1,894 12,243 --
-----------------------------------------------
Operating income (1,922) 22,299 (0)
Equity Earnings 5,017 -- --
Interest Expense -- -- --
Other Income (22) 1,123 0
Other Expense (76) (8,681) --
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 2,997 14,742 0
Income Tax Provision -- -- 1
-----------------------------------------------
Net Income (loss) $ 2,997 $ 14,742 $ (0)
===============================================
</TABLE>
Page 10 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy
Versado Gas Arkansas
DMS LP, Inc. Processors, LLC Gathering, Inc
30008 30076 30090
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 3,392 1,059 97
Net Income 2,997 14,742 (0)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 6,390 $ 15,801 $ 96
===============================================
</TABLE>
Page 11 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy
Versado Gas Arkansas
DMS LP, Inc. Processors, LLC Gathering, Inc
30008 30076 30090
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents 3 21,726 --
Accounts Receivable (258) 4,013 --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- (0) --
-----------------------------------------------
Total Current Assets (255) 25,740 --
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment 1 271,187 --
Accumulated DD&A (3) (49,738) --
-----------------------------------------------
Net Property, Plant and Equipment (2) 221,449 --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs (8,840) -- 1,837
Investment-Unconsolidated Subs 43,821 -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- 5,000
-----------------------------------------------
Net Other Assets 34,980 -- 6,837
-----------------------------------------------
Total Assets 34,723 247,189 6,837
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable 177 4,765 --
Intercompany Due To/From (28,783) (15,429) 4,837
Other Accrued Liabilities (337) 7,913 4
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities (28,943) (2,752) 4,842
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur 21,740 -- 102
Other Long Term Liab. Detail (4,346) 92,549 --
-----------------------------------------------
Total Liabilities (11,550) 89,797 4,944
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- -- 0
Treasury Stock -- -- --
Addl Paid in Capital 39,883 141,591 1,796
Retained Earnings 6,390 15,801 96
-----------------------------------------------
Total Equity 46,273 157,391 1,893
-----------------------------------------------
Total Liabilities & Equity 34,723 247,189 6,837
===============================================
</TABLE>
Page 12 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy NGL
Cedar Bayou Pipeline Dynegy LPG
Fractionators, LP Company Services, Inc
31002 31090 32002
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ 53,902 $ 5,385 $ --
Costs 33,426 1,225 131
-----------------------------------------------
Operating margin 20,476 4,160 (131)
G&A -- 295 22
Depreciation & Amortization 4,500 1,220 369
-----------------------------------------------
Operating income 15,976 2,645 (522)
Equity Earnings -- -- --
Interest Expense -- -- --
Other Income 808 (422) --
Other Expense (1,943) (1) (3)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 14,841 2,222 (525)
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 14,841 $ 2,222 $ (525)
===============================================
</TABLE>
Page 13 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy NGL
Cedar Bayou Pipeline Dynegy LPG
Fractionators, LP Company Services, Inc
31002 31090 32002
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year (29) 4,334 (927)
Net Income 14,841 2,222 (525)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 14,812 $ 6,556 $ (1,452)
===============================================
</TABLE>
Page 14 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy NGL
Cedar Bayou Pipeline Dynegy LPG
Fractionators, LP Company Services, Inc
31002 31090 32002
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents 4,662 -- --
Accounts Receivable 2,197 8 --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets (0) 40 (40)
-----------------------------------------------
Total Current Assets 6,858 48 (40)
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment 125,758 58,430 2,418
Accumulated DD&A (13,936) (11,707) (147)
-----------------------------------------------
Net Property, Plant and Equipment 111,822 46,724 2,271
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- -- --
Investment-Unconsolidated Subs (16,398) -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets 16,398 400 4,642
-----------------------------------------------
Net Other Assets -- 400 4,642
-----------------------------------------------
Total Assets 118,680 47,172 6,873
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable 983 9 1
Intercompany Due To/From (2,691) 39,042 2,736
Other Accrued Liabilities 1,146 (78) (513)
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities (562) 38,973 2,225
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- 115 --
Other Long Term Liab. Detail 14,339 -- --
-----------------------------------------------
Total Liabilities 13,776 39,088 2,225
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- 3 5,921
Treasury Stock -- -- --
Addl Paid in Capital 90,093 1,525 179
Retained Earnings 14,812 6,556 (1,452)
-----------------------------------------------
Total Equity 104,904 8,084 4,648
-----------------------------------------------
Total Liabilities & Equity 118,680 47,172 6,873
===============================================
</TABLE>
Page 15 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dynegy
Regulated Midstream Dynegy
Holdings Inc. Marketing Company OPI, Inc.
33001 33003 33091
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ 559 $ --
Costs -- 550 86
-----------------------------------------------
Operating margin -- 9 (86)
G&A -- 24 --
Depreciation & Amortization -- -- 136
-----------------------------------------------
Operating income -- (15) (222)
Equity Earnings 54 -- --
Interest Expense -- -- --
Other Income -- -- 0
Other Expense 0 (1) (1)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 55 (16) (223)
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 55 $ (16) $ (223)
===============================================
</TABLE>
Page 16 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dynegy
Regulated Midstream Dynegy
Holdings Inc. Marketing Company OPI, Inc.
33001 33003 33091
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 362 (13,925) 14,598
Net Income 55 (16) (223)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 417 $ (13,941) $ 14,376
===============================================
</TABLE>
Page 17 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dynegy
Regulated Midstream Dynegy
Holdings Inc. Marketing Company OPI, Inc.
33001 33003 33091
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable (41) (277) 2
Inventory -- (211) --
Risk Management Assets -- -- --
Prepaids & Other Assets -- -- --
-----------------------------------------------
Total Current Assets (41) (488) 2
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- 0
Accumulated DD&A -- -- (20)
-----------------------------------------------
Net Property, Plant and Equipment -- -- (20)
-----------------------------------------------
Other Assets
Investment-Consolidated Subs 11,961 -- --
Investment-Unconsolidated Subs 207 -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- (150) 27,169
-----------------------------------------------
Net Other Assets 12,168 (150) 27,169
-----------------------------------------------
Total Assets 12,126 (639) 27,151
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- 24 (5)
Intercompany Due To/From (28,986) 15,325 (20,669)
Other Accrued Liabilities -- (2,047) (2,685)
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities (28,986) 13,302 (23,359)
-----------------------------------------------
Long-Term Liabilities
Long Term Debt 25,000 -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- 3,612
Other Long Term Liab. Detail -- -- (0)
-----------------------------------------------
Total Liabilities (3,986) 13,302 (19,747)
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- 1 1
Treasury Stock -- -- --
Addl Paid in Capital 15,696 -- 32,521
Retained Earnings 417 (13,941) 14,376
-----------------------------------------------
Total Equity 16,113 (13,940) 46,898
-----------------------------------------------
Total Liabilities & Equity 12,126 (639) 27,151
===============================================
</TABLE>
Page 18 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dynegy Kansas Gas
Midstream Intrastate Gas Supply
Pipeline, Inc. Supply, Inc. Corporation
33092 33093 33094
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ 1,182 $ 343 $ 33,662
Costs 287 203 31,501
-----------------------------------------------
Operating margin 895 140 2,161
G&A 117 39 2,129
Depreciation & Amortization 49 41 2,606
-----------------------------------------------
Operating income 729 60 (2,574)
Equity Earnings -- -- --
Interest Expense -- -- --
Other Income -- -- 6
Other Expense (6) (0) (139)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 723 60 (2,707)
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 723 $ 60 $ (2,707)
===============================================
</TABLE>
Page 19 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dynegy Kansas Gas
Midstream Intrastate Gas Supply
Pipeline, Inc. Supply, Inc. Corporation
33092 33093 33094
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year (142) 372 (2,285)
Net Income 723 60 (2,707)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 580 $ 432 $ (4,993)
===============================================
</TABLE>
Page 20 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dynegy Kansas Gas
Midstream Intrastate Gas Supply
Pipeline, Inc. Supply, Inc. Corporation
33092 33093 33094
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- (666)
Accounts Receivable 45 40 2,836
Inventory 187 -- 1,363
Risk Management Assets -- -- --
Prepaids & Other Assets 18 -- 0
-----------------------------------------------
Total Current Assets 250 40 3,533
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment 2,117 2,965 66,912
Accumulated DD&A (1,016) (828) (13,434)
-----------------------------------------------
Net Property, Plant and Equipment 1,101 2,137 53,477
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- -- --
Investment-Unconsolidated Subs -- -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- 930
-----------------------------------------------
Net Other Assets -- -- 930
-----------------------------------------------
Total Assets 1,351 2,177 57,940
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- (0) (141)
Intercompany Due To/From 763 1,726 62,641
Other Accrued Liabilities (5) 20 (436)
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities 758 1,745 62,063
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur 12 -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities 770 1,745 62,063
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 1 0 0
Treasury Stock -- -- --
Addl Paid in Capital -- -- 870
Retained Earnings 580 432 (4,993)
-----------------------------------------------
Total Equity 581 432 (4,123)
-----------------------------------------------
Total Liabilities & Equity 1,351 2,177 57,940
===============================================
</TABLE>
Page 21 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Global Dynegy Global NGC
Energy, Inc. Liquids, Inc. Columbia, Inc.
50001 50002 50006
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ 642,526 $ --
Costs -- 635,513 --
-----------------------------------------------
Operating margin -- 7,013 --
G&A -- 5,622 --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income -- 1,391 --
Equity Earnings -- -- --
Interest Expense -- -- --
Other Income 0 (2) --
Other Expense 7 (35) (0)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 7 1,354 (0)
Income Tax Provision (1,019) -- --
-----------------------------------------------
Net Income (loss) $ 1,026 $ 1,354 $ (0)
===============================================
</TABLE>
Page 22 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Global Dynegy Global NGC
Energy, Inc. Liquids, Inc. Columbia, Inc.
50001 50002 50006
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year (1,365) 8,359 (260)
Net Income 1,026 1,354 (0)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ (339) $ 9,713 $ (260)
===============================================
</TABLE>
Page 23 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Global Dynegy Global NGC
Energy, Inc. Liquids, Inc. Columbia, Inc.
50001 50002 50006
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable -- 121,377 --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- 9,524 --
-----------------------------------------------
Total Current Assets -- 130,900 --
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- 0
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- 0
-----------------------------------------------
Other Assets
Investment-Consolidated Subs (8,794) -- --
Investment-Unconsolidated Subs 7 -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets 27,491 -- --
-----------------------------------------------
Net Other Assets 18,703 -- --
-----------------------------------------------
Total Assets 18,703 130,900 0
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable 39 108,087 0
Intercompany Due To/From 19,003 11,250 260
Other Accrued Liabilities -- 1,851 --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities 19,042 121,188 260
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities 19,042 121,188 260
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- -- --
Treasury Stock -- -- --
Addl Paid in Capital -- -- --
Retained Earnings (339) 9,713 (260)
-----------------------------------------------
Total Equity (339) 9,713 (260)
-----------------------------------------------
Total Liabilities & Equity 18,703 130,900 0
===============================================
</TABLE>
Page 24 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Crude
3020372 Nova 3020373 Nova Gathering and
Scotia Company Scotia Company Marketing, Inc.
50013 50014 40001
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ 2,383,498
Costs -- -- 2,385,117
-----------------------------------------------
Operating margin -- -- (1,619)
G&A -- -- 3,499
Depreciation & Amortization -- -- 49
-----------------------------------------------
Operating income -- -- (5,167)
Equity Earnings -- -- --
Interest Expense -- -- (173)
Other Income -- -- 2
Other Expense -- -- (18)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes -- -- (5,356)
Income Tax Provision -- -- 2,035
-----------------------------------------------
Net Income (loss) $ -- $ -- $ (7,391)
===============================================
</TABLE>
Page 25 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Crude
3020372 Nova 3020373 Nova Gathering and
Scotia Company Scotia Company Marketing, Inc.
50013 50014 40001
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year (228) -- 846
Net Income -- -- (7,391)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ (228) $ -- $ (6,545)
===============================================
</TABLE>
Page 26 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Crude
3020372 Nova 3020373 Nova Gathering and
Scotia Company Scotia Company Marketing, Inc.
50013 50014 40001
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents (39,642) -- 9,958
Accounts Receivable -- -- 213,428
Inventory -- -- (1,038)
Risk Management Assets -- -- 1,941
Prepaids & Other Assets -- -- 3,655
-----------------------------------------------
Total Current Assets (39,642) -- 227,945
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- 6,640
Accumulated DD&A -- -- (102)
-----------------------------------------------
Net Property, Plant and Equipment -- -- 6,539
-----------------------------------------------
Other Assets
Investment-Consolidated Subs 40,000 40 8,336
Investment-Unconsolidated Subs -- -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- (42)
-----------------------------------------------
Net Other Assets 40,000 40 8,294
-----------------------------------------------
Total Assets 358 40 242,778
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- 207,088
Intercompany Due To/From (40,000) -- 36,329
Other Accrued Liabilities 228 -- 2,504
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt 25,358 -- --
-----------------------------------------------
Total Current Liabilities (14,414) -- 245,921
-----------------------------------------------
Long-Term Liabilities
Long Term Debt 14,642 -- 2,503
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- 2
Other Long Term Liab. Detail -- -- (196)
-----------------------------------------------
Total Liabilities 228 -- 248,229
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- -- --
Treasury Stock -- -- --
Addl Paid in Capital 358 40 1,093
Retained Earnings (228) -- (6,545)
-----------------------------------------------
Total Equity 130 40 (5,452)
-----------------------------------------------
Total Liabilities & Equity 358 40 242,778
===============================================
</TABLE>
Page 27 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
--------------
Dynegy Crude
Gathering
Services, Inc.
40003
--------------
Revenues $ 635,600
Costs 620,803
--------------
Operating margin 14,798
G&A 3,032
Depreciation & Amortization 1,358
--------------
Operating income 10,408
Equity Earnings --
Interest Expense (676)
Other Income 84
Other Expense (214)
Minority In the Income of Sub --
Income (loss) before income
taxes 9,602
Income Tax Provision --
--------------
Net Income (loss) $ 9,602
==============
Page 28 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
--------------
Dynegy Crude
Gathering
Services, Inc.
40003
--------------
Retained Earnings, Beginning of Year (14,190)
Net Income 9,602
Cash Dividends Declared
--------------
Retained Earnings, End of Year $ (4,588)
==============
Page 29 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
--------------
Dynegy Crude
Gathering
Services, Inc.
40003
--------------
Assets
Current Assets
Cash and Cash Equivalents (269)
Accounts Receivable 220
Inventory 11,790
Risk Management Assets --
Prepaids & Other Assets 7
-----------
Total Current Assets 11,748
-----------
Property, Plant and Equipment
Property, Plant & Equipment 39,459
Accumulated DD&A (13,014)
-----------
Net Property, Plant and Equipment 26,444
-----------
Other Assets
Investment-Consolidated Subs --
Investment-Unconsolidated Subs --
Noncurrent Risk Mgmt Assets --
Other Long Term Assets 800
-----------
Net Other Assets 800
-----------
Total Assets 38,992
===========
Liabilities And Equity
Current Liabilities
Accounts Payable (24)
Intercompany Due To/From 25,476
Other Accrued Liabilities 38
Risk Management Liabilities --
Notes Payable and Current Portion Of LT Debt --
-----------
Total Current Liabilities 25,490
-----------
Long-Term Liabilities
Long Term Debt 9,755
Noncur Risk Mgmt Liabilities --
Deferred Income Taxes-Noncur --
Other Long Term Liab. Detail --
-----------
Total Liabilities 35,245
-----------
Subordinated Capital --
Equity
Preferred Stock --
Common Stock --
Treasury Stock --
Addl Paid in Capital 8,336
Retained Earnings (4,588)
-----------
Total Equity 3,748
-----------
Total Liabilities & Equity 38,992
===========
Page 30 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Oil Dynegy Power
Pipeline Dynegy Power Management
Company Corp. Services, Inc.
40090 60001 60003
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ 1,096 $ -- $ 2,634
Costs 708 72 (217)
-----------------------------------------------
Operating margin 388 (72) 2,851
G&A 401 25,191 --
Depreciation & Amortization 443 15,522 --
-----------------------------------------------
Operating income (456) (40,785) 2,851
Equity Earnings -- 16,144 --
Interest Expense -- (35,109) --
Other Income 189 11,333 --
Other Expense 1 2,963 4
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes (266) (45,454) 2,855
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ (266) $ (45,454) $ 2,855
===============================================
</TABLE>
Page 31 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Oil Dynegy Power
Pipeline Dynegy Power Management
Company Corp. Services, Inc.
40090 60001 60003
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year (195) (503,320) 14,330
Net Income (266) (45,454) 2,855
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ (461) $ (548,773) $ 17,185
===============================================
</TABLE>
Page 32 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Oil Dynegy Power
Pipeline Dynegy Power Management
Company Corp. Services, Inc.
40090 60001 60003
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents (8) (766) --
Accounts Receivable 105 5,282 1,015
Inventory -- 0 --
Risk Management Assets -- -- --
Prepaids & Other Assets (407) 82,990 220
-----------------------------------------------
Total Current Assets (310) 87,507 1,234
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment 7,783 245,004 --
Accumulated DD&A (1,045) (41) --
-----------------------------------------------
Net Property, Plant and Equipment 6,737 244,963 --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- 148,003 --
Investment-Unconsolidated Subs -- 294,421 (1,435)
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- 234,168 --
-----------------------------------------------
Net Other Assets -- 676,592 (1,435)
-----------------------------------------------
Total Assets 6,428 1,009,062 (201)
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable 6 7,814 --
Intercompany Due To/From 6,802 849,307 (17,387)
Other Accrued Liabilities 81 31,538 --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities 6,889 888,659 (17,387)
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- 402,214 --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- 9,000 --
Other Long Term Liab. Detail -- 59,310 --
-----------------------------------------------
Total Liabilities 6,889 1,359,182 (17,387)
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- 198,653 1
Treasury Stock -- -- --
Addl Paid in Capital -- -- --
Retained Earnings (461) (548,773) 17,185
-----------------------------------------------
Total Equity (461) (350,120) 17,186
-----------------------------------------------
Total Liabilities & Equity 6,428 1,009,062 (201)
===============================================
</TABLE>
Page 33 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Power
Delta Investments,
HEP CoGen, Inc. CoGen, Inc. Inc.
60007 60009 60011
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ --
Costs -- -- (8)
-----------------------------------------------
Operating margin -- -- 8
G&A 0 -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income (0) -- 8
Equity Earnings -- -- --
Interest Expense -- -- --
Other Income -- -- 423
Other Expense -- -- (68)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes (0) -- 363
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ (0) $ -- $ 363
===============================================
</TABLE>
Page 34 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Power
Delta Investments,
HEP CoGen, Inc. CoGen, Inc. Inc.
60007 60009 60011
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 20,367 317,103 759
Net Income (0) -- 363
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 20,367 $ 317,103 $ 1,121
===============================================
</TABLE>
Page 35 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Power
Delta Investments,
HEP CoGen, Inc. CoGen, Inc. Inc.
60007 60009 60011
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable -- -- 0
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- -- --
-----------------------------------------------
Total Current Assets -- -- 0
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- 0 --
Investment-Unconsolidated Subs -- -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- 5,015 --
-----------------------------------------------
Net Other Assets -- 5,015 --
-----------------------------------------------
Total Assets -- 5,015 0
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable 169 0 81
Intercompany Due To/From (20,538) (330,927) (1,221)
Other Accrued Liabilities -- -- 19
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities (20,369) (330,927) (1,121)
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities (20,369) (330,927) (1,121)
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 2 18,839 0
Treasury Stock -- -- --
Addl Paid in Capital -- -- --
Retained Earnings 20,367 317,103 1,121
-----------------------------------------------
Total Equity 20,369 335,943 1,121
-----------------------------------------------
Total Liabilities & Equity -- 5,015 0
===============================================
</TABLE>
Page 36 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Gas
NFI, Inc. DGPI, Inc. Services, Inc.
60053 60054 60100
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ 62,931
Costs -- -- 61,745
-----------------------------------------------
Operating margin -- -- 1,186
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income -- -- 1,186
Equity Earnings -- -- --
Interest Expense -- (131) --
Other Income 21,870 6,337 0
Other Expense -- (15,978) (5,417)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 21,870 (9,772) (4,231)
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 21,870 $ (9,772) $ (4,231)
===============================================
</TABLE>
Page 37 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Gas
NFI, Inc. DGPI, Inc. Services, Inc.
60053 60054 60100
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 4,979 -- 5,175
Net Income 21,870 (9,772) (4,231)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 26,848 $ (9,772) $ 944
===============================================
</TABLE>
Page 38 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Gas
NFI, Inc. DGPI, Inc. Services, Inc.
60053 60054 60100
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable 8,645 -- 5,516
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- -- 447
-----------------------------------------------
Total Current Assets 8,645 -- 5,963
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- -- --
Investment-Unconsolidated Subs -- -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets 63,258 78,810 (5,015)
-----------------------------------------------
Net Other Assets 63,258 78,810 (5,015)
-----------------------------------------------
Total Assets 71,903 78,810 948
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- 4
Intercompany Due To/From 21,986 -- --
Other Accrued Liabilities 15,201 131 --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities 37,188 131 4
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- 6,087 --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail 7,866 81,613 --
-----------------------------------------------
Total Liabilities 45,054 87,832 4
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- 750 0
Treasury Stock -- -- --
Addl Paid in Capital 1 -- --
Retained Earnings 26,848 (9,772) 944
-----------------------------------------------
Total Equity 26,849 (9,022) 944
-----------------------------------------------
Total Liabilities & Equity 71,903 78,810 948
===============================================
</TABLE>
Page 39 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Power Dynegy Power CoGen Power,
Services, Inc. Holding's, Inc. Inc.
60101 60200 60201
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ --
Costs -- 0 --
-----------------------------------------------
Operating margin -- (0) --
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income -- (0) --
Equity Earnings -- 154 --
Interest Expense -- -- --
Other Income -- 1,031 --
Other Expense (12) (0) (0)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes (12) 1,185 (0)
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ (12) $ 1,185 $ (0)
===============================================
</TABLE>
Page 40 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Power Dynegy Power CoGen Power,
Services, Inc. Holding's, Inc. Inc.
60101 60200 60201
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 13,298 94,417 (18,605)
Net Income (12) 1,185 (0)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 13,286 $ 95,602 $ (18,605)
===============================================
</TABLE>
Page 41 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Power Dynegy Power CoGen Power,
Services, Inc. Holding's, Inc. Inc.
60101 60200 60201
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable -- -- --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- -- --
-----------------------------------------------
Total Current Assets -- -- --
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- 118,077 (3,590)
Investment-Unconsolidated Subs -- 1,676 --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- 10,745 --
-----------------------------------------------
Net Other Assets -- 130,499 (3,590)
-----------------------------------------------
Total Assets -- 130,499 (3,590)
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- 0 0
Intercompany Due To/From (13,286) (4,252) 4,189
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities (13,286) (4,252) 4,189
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- 1,725
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities (13,286) (4,252) 5,914
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 0 28,106 9,101
Treasury Stock -- -- --
Addl Paid in Capital -- 11,043 --
Retained Earnings 13,286 95,602 (18,605)
-----------------------------------------------
Total Equity 13,286 134,751 (9,504)
-----------------------------------------------
Total Liabilities & Equity -- 130,499 (3,590)
===============================================
</TABLE>
Page 42 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Kern Front Sierra Double "C"
CoGen, Inc. CoGen, Inc. CoGen, Inc.
60202 60203 60204
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ 260 $ 257 $ 249
Costs 52 49 45
-----------------------------------------------
Operating margin 208 208 204
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income 208 208 204
Equity Earnings 985 911 873
Interest Expense -- -- --
Other Income -- -- --
Other Expense (3,364) (3,484) (2,843)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes (2,172) (2,365) (1,766)
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ (2,172) $ (2,365) $ (1,766)
===============================================
</TABLE>
Page 43 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Kern Front Sierra Double "C"
CoGen, Inc. CoGen, Inc. CoGen, Inc.
60202 60203 60204
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 9,747 10,173 9,437
Net Income (2,172) (2,365) (1,766)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 7,575 $ 7,807 $ 7,671
===============================================
</TABLE>
Page 44 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Kern Front Sierra Double "C"
CoGen, Inc. CoGen, Inc. CoGen, Inc.
60202 60203 60204
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable 115 117 226
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- -- --
-----------------------------------------------
Total Current Assets 115 117 226
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs 3,711 3,827 3,704
Investment-Unconsolidated Subs 3,749 3,865 3,741
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- --
-----------------------------------------------
Net Other Assets 7,461 7,692 7,445
-----------------------------------------------
Total Assets 7,576 7,808 7,672
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- --
Intercompany Due To/From -- -- --
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities -- -- --
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities -- -- --
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 1 1 1
Treasury Stock -- -- --
Addl Paid in Capital -- -- --
Retained Earnings 7,575 7,807 7,671
-----------------------------------------------
Total Equity 7,576 7,808 7,672
-----------------------------------------------
Total Liabilities & Equity 7,576 7,808 7,672
===============================================
</TABLE>
Page 45 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Corona
Energy Chalk Cliff Bear Mountain
Corporation CoGen, Inc. CoGen, Inc.
60205 60206 60207
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ 182 $ -- $ 387
Costs 35 11 3
-----------------------------------------------
Operating margin 147 (11) 384
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income 147 (11) 384
Equity Earnings 470 -- 6
Interest Expense -- -- --
Other Income -- -- --
Other Expense (110) (2,340) (1,512)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 507 (2,350) (1,122)
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 507 $ (2,350) $ (1,122)
===============================================
</TABLE>
Page 46 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Corona
Energy Chalk Cliff Bear Mountain
Corporation CoGen, Inc. CoGen, Inc.
60205 60206 60207
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 4,975 3,871 1,555
Net Income 507 (2,350) (1,122)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 5,482 $ 1,520 $ 433
===============================================
</TABLE>
Page 47 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Corona
Energy Chalk Cliff Bear Mountain
Corporation CoGen, Inc. CoGen, Inc.
60205 60206 60207
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable 366 426 --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- 143 192
-----------------------------------------------
Total Current Assets 366 569 192
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- 953 243
Investment-Unconsolidated Subs 5,117 -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- --
-----------------------------------------------
Net Other Assets 5,117 953 243
-----------------------------------------------
Total Assets 5,483 1,521 434
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- --
Intercompany Due To/From -- -- --
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities -- -- --
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities -- -- --
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 1 1 1
Treasury Stock -- -- --
Addl Paid in Capital -- -- --
Retained Earnings 5,482 1,520 433
-----------------------------------------------
Total Equity 5,483 1,521 434
-----------------------------------------------
Total Liabilities & Equity 5,483 1,521 434
===============================================
</TABLE>
Page 48 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Brea Canyon Live Oak San Joaquin
CoGen, Inc. CoGen, Inc. CoGen, Inc.
60208 60209 60210
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ 462 $ 273
Costs -- 4 4
-----------------------------------------------
Operating margin -- 458 269
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income -- 458 269
Equity Earnings 665 14 --
Interest Expense -- -- --
Other Income -- -- --
Other Expense 1,367 (2,878) (2,065)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 2,032 (2,406) (1,795)
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 2,032 $ (2,406) $ (1,795)
===============================================
</TABLE>
Page 49 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Brea Canyon Live Oak San Joaquin
CoGen, Inc. CoGen, Inc. CoGen, Inc.
60208 60209 60210
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 3,939 2,753 2,981
Net Income 2,032 (2,406) (1,795)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 5,971 $ 347 $ 1,186
===============================================
</TABLE>
Page 50 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Brea Canyon Live Oak San Joaquin
CoGen, Inc. CoGen, Inc. CoGen, Inc.
60208 60209 60210
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable -- 226 --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- -- 333
-----------------------------------------------
Total Current Assets -- 226 333
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- -- 1,948
Investment-Unconsolidated Subs 5,972 122 --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- --
-----------------------------------------------
Net Other Assets 5,972 122 1,948
-----------------------------------------------
Total Assets 5,972 348 2,280
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable (0) -- --
Intercompany Due To/From -- -- --
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities (0) -- --
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities (0) -- --
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 1 1 1
Treasury Stock -- -- --
Addl Paid in Capital -- -- 1,093
Retained Earnings 5,971 347 1,186
-----------------------------------------------
Total Equity 5,972 348 2,280
-----------------------------------------------
Total Liabilities & Equity 5,972 348 2,280
===============================================
</TABLE>
Page 51 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
CoGen Poso BCC SJC
Creek, Inc. CoGen, Inc. CoGen, Inc.
60211 60212 60213
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ --
Costs -- -- --
-----------------------------------------------
Operating margin -- -- --
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income -- -- --
Equity Earnings -- 1,980 --
Interest Expense -- -- --
Other Income -- -- 74
Other Expense 0 (7,995) (3,438)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 0 (6,015) (3,365)
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 0 $ (6,015) $ (3,365)
===============================================
</TABLE>
Page 52 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
CoGen Poso BCC SJC
Creek, Inc. CoGen, Inc. CoGen, Inc.
60211 60212 60213
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 112 11,044 23,863
Net Income 0 (6,015) (3,365)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 113 $ 5,029 $ 20,499
===============================================
</TABLE>
Page 53 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
CoGen Poso BCC SJC
Creek, Inc. CoGen, Inc. CoGen, Inc.
60211 60212 60213
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable -- -- 1,703
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- -- (25)
-----------------------------------------------
Total Current Assets -- -- 1,678
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs 114 -- 27,679
Investment-Unconsolidated Subs -- 5,030 --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- --
-----------------------------------------------
Net Other Assets 114 5,030 27,679
-----------------------------------------------
Total Assets 114 5,030 29,356
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- (0)
Intercompany Due To/From -- -- --
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities -- -- (0)
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities -- -- (0)
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 1 1 1
Treasury Stock -- -- --
Addl Paid in Capital -- -- 8,856
Retained Earnings 113 5,029 20,499
-----------------------------------------------
Total Equity 114 5,030 29,356
-----------------------------------------------
Total Liabilities & Equity 114 5,030 29,356
===============================================
</TABLE>
Page 54 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Oyster Creek OCG
CC CoGen, Inc. CoGen, Inc. CoGen, Inc.
60214 60215 60216
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ --
Costs -- -- --
-----------------------------------------------
Operating margin -- -- --
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income -- -- --
Equity Earnings 1,614 5,711 117
Interest Expense -- -- --
Other Income -- -- --
Other Expense (7,202) -- --
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes (5,588) 5,711 117
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ (5,588) $ 5,711 $ 117
===============================================
</TABLE>
Page 55 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Oyster Creek OCG
CC CoGen, Inc. CoGen, Inc. CoGen, Inc.
60214 60215 60216
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 25,202 8,632 172
Net Income (5,588) 5,711 117
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 19,614 $ 14,343 $ 288
===============================================
</TABLE>
Page 56 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Oyster Creek OCG
CC CoGen, Inc. CoGen, Inc. CoGen, Inc.
60214 60215 60216
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable -- -- --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- -- --
-----------------------------------------------
Total Current Assets -- -- --
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs 19,615 -- --
Investment-Unconsolidated Subs -- 22,379 457
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- --
-----------------------------------------------
Net Other Assets 19,615 22,379 457
-----------------------------------------------
Total Assets 19,615 22,379 457
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- --
Intercompany Due To/From -- 8,035 168
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities -- 8,035 168
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities -- 8,035 168
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 1 0 0
Treasury Stock -- -- --
Addl Paid in Capital -- -- --
Retained Earnings 19,614 14,343 288
-----------------------------------------------
Total Equity 19,615 14,344 288
-----------------------------------------------
Total Liabilities & Equity 19,615 22,379 457
===============================================
</TABLE>
Page 57 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Hartwell
Michigan Michigan Independent Pwr
CoGen, Inc. Power, Inc. Prod., Inc.
60219 60220 60221
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ --
Costs -- -- --
-----------------------------------------------
Operating margin -- -- --
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income -- -- --
Equity Earnings 5,467 112 55
Interest Expense -- -- --
Other Income -- -- --
Other Expense -- -- --
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 5,467 112 55
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 5,467 $ 112 $ 55
===============================================
</TABLE>
Page 58 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Hartwell
Michigan Michigan Independent Pwr
CoGen, Inc. Power, Inc. Prod., Inc.
60219 60220 60221
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 3,064 3,472 264
Net Income 5,467 112 55
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 8,531 $ 3,583 $ 319
===============================================
</TABLE>
Page 59 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Hartwell
Michigan Michigan Independent Pwr
CoGen, Inc. Power, Inc. Prod., Inc.
60219 60220 60221
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable -- -- --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- -- --
-----------------------------------------------
Total Current Assets -- -- --
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- -- --
Investment-Unconsolidated Subs 7,168 146 262
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- --
-----------------------------------------------
Net Other Assets 7,168 146 262
-----------------------------------------------
Total Assets 7,168 146 262
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- --
Intercompany Due To/From (1,364) (3,437) (57)
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities (1,364) (3,437) (57)
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities (1,364) (3,437) (57)
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 0 0 0
Treasury Stock -- -- --
Addl Paid in Capital -- -- --
Retained Earnings 8,531 3,583 319
-----------------------------------------------
Total Equity 8,531 3,583 319
-----------------------------------------------
Total Liabilities & Equity 7,168 146 262
===============================================
</TABLE>
Page 60 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Hart County James River Black Mountain
IPP, Inc. Energy Corp. CoGen, Inc.
60222 60223 60224
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ --
Costs 14 12 16
-----------------------------------------------
Operating margin (14) (12) (16)
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income (14) (12) (16)
Equity Earnings 2,690 649 3,387
Interest Expense (7) -- --
Other Income -- -- --
Other Expense -- -- --
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 2,670 637 3,372
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 2,670 $ 637 $ 3,372
===============================================
</TABLE>
Page 61 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Hart County James River Black Mountain
IPP, Inc. Energy Corp. CoGen, Inc.
60222 60223 60224
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 13,017 10,166 12,852
Net Income 2,670 637 3,372
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 15,687 $ 10,803 $ 16,224
===============================================
</TABLE>
Page 62 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Hart County James River Black Mountain
IPP, Inc. Energy Corp. CoGen, Inc.
60222 60223 60224
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable 26 -- --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- 5 3
-----------------------------------------------
Total Current Assets 26 5 3
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- -- --
Investment-Unconsolidated Subs 12,850 11,395 15,558
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- --
-----------------------------------------------
Net Other Assets 12,850 11,395 15,558
-----------------------------------------------
Total Assets 12,876 11,401 15,561
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- 0 --
Intercompany Due To/From (2,811) 598 (663)
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities (2,811) 598 (663)
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities (2,811) 598 (663)
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 0 0 0
Treasury Stock -- -- --
Addl Paid in Capital -- -- --
Retained Earnings 15,687 10,803 16,224
-----------------------------------------------
Total Equity 15,687 10,803 16,224
-----------------------------------------------
Total Liabilities & Equity 12,876 11,401 15,561
===============================================
</TABLE>
Page 63 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dry Creek Sandy Creek Port Arthur
Power, Inc. Power, Inc. CoGen, Inc.
60225 60226 60227
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ --
Costs -- -- --
-----------------------------------------------
Operating margin -- -- --
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income -- -- --
Equity Earnings -- -- --
Interest Expense -- -- --
Other Income -- -- --
Other Expense -- (21) --
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes -- (21) --
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ -- $ (21) $ --
===============================================
</TABLE>
Page 64 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dry Creek Sandy Creek Port Arthur
Power, Inc. Power, Inc. CoGen, Inc.
60225 60226 60227
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year (1) 13,704 (81)
Net Income -- (21) --
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ (1) $ 13,683 $ (81)
===============================================
</TABLE>
Page 65 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dry Creek Sandy Creek Port Arthur
Power, Inc. Power, Inc. CoGen, Inc.
60225 60226 60227
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable -- -- --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- -- --
-----------------------------------------------
Total Current Assets -- -- --
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- 24,507 675
Investment-Unconsolidated Subs -- -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- --
-----------------------------------------------
Net Other Assets -- 24,507 675
-----------------------------------------------
Total Assets -- 24,507 675
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- --
Intercompany Due To/From 1 -- 756
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities 1 -- 756
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities 1 -- 756
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 0 0 0
Treasury Stock -- -- --
Addl Paid in Capital -- 10,824 --
Retained Earnings (1) 13,683 (81)
-----------------------------------------------
Total Equity (1) 24,507 (81)
-----------------------------------------------
Total Liabilities & Equity -- 24,507 675
===============================================
</TABLE>
Page 66 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Bear Claw Dynegy BCC
CoGen, Inc. Crockett, Inc. Power, Inc.
60228 60229 60232
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ --
Costs -- 3 --
-----------------------------------------------
Operating margin -- (3) --
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income -- (3) --
Equity Earnings 297 1,728 --
Interest Expense -- -- --
Other Income -- -- --
Other Expense 3,748 (743) 8
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 4,046 983 8
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 4,046 $ 983 $ 8
===============================================
</TABLE>
Page 67 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Bear Claw Dynegy BCC
CoGen, Inc. Crockett, Inc. Power, Inc.
60228 60229 60232
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 7,849 4,622 (0)
Net Income 4,046 983 8
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 11,895 $ 5,605 $ 8
===============================================
</TABLE>
Page 68 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Bear Claw Dynegy BCC
CoGen, Inc. Crockett, Inc. Power, Inc.
60228 60229 60232
-----------------------------------------------
<S> <C> <C> <C>
Current Assets
Cash and Cash Equivalents -- 0 --
Accounts Receivable -- -- --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- 1 --
-----------------------------------------------
Total Current Assets -- 1 --
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs 11,895 -- --
Investment-Unconsolidated Subs -- 5,604 9
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- --
-----------------------------------------------
Net Other Assets 11,895 5,604 9
-----------------------------------------------
Total Assets 11,895 5,605 9
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- --
Intercompany Due To/From -- -- --
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities -- -- --
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities -- -- --
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 0 0 1
Treasury Stock -- -- --
Addl Paid in Capital -- -- --
Retained Earnings 11,895 5,605 8
-----------------------------------------------
Total Equity 11,895 5,605 9
-----------------------------------------------
Total Liabilities & Equity 11,895 5,605 9
===============================================
</TABLE>
Page 69 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
CC Michigan
Cogeneration Power Hartwell
Company Holdings, Inc. Power Company
60233 60234 60235
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ --
Costs -- -- --
-----------------------------------------------
Operating margin -- -- --
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income -- -- --
Equity Earnings -- 1 --
Interest Expense -- -- --
Other Income -- -- --
Other Expense 9 -- --
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 9 1 --
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 9 $ 1 $ --
===============================================
</TABLE>
Page 70 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
CC Michigan
Cogeneration Power Hartwell
Company Holdings, Inc. Power Company
60233 60234 60235
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year -- 1 (0)
Net Income 9 1 --
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 9 $ 2 $ (0)
===============================================
</TABLE>
Page 71 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
CC Michigan
Cogeneration Power Hartwell
Company Holdings, Inc. Power Company
60233 60234 60235
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable -- -- --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- -- --
-----------------------------------------------
Total Current Assets -- -- --
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs 10 -- --
Investment-Unconsolidated Subs -- 10 10
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- --
-----------------------------------------------
Net Other Assets 10 10 10
-----------------------------------------------
Total Assets 10 10 10
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- --
Intercompany Due To/From -- 7 9
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities -- 7 9
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities -- 7 9
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 1 1 1
Treasury Stock -- -- --
Addl Paid in Capital -- -- --
Retained Earnings 9 2 (0)
-----------------------------------------------
Total Equity 10 3 1
-----------------------------------------------
Total Liabilities & Equity 10 10 10
===============================================
</TABLE>
Page 72 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dutch Dominion
Holdings B.V. CoGen CA, Inc. CEC Prime, Inc.
60239 60240 60241
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ --
Costs -- -- --
-----------------------------------------------
Operating margin -- -- --
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income -- -- --
Equity Earnings -- -- --
Interest Expense -- -- --
Other Income -- -- --
Other Expense -- 1,524 --
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes -- 1,524 --
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ -- $ 1,524 $ --
===============================================
</TABLE>
Page 73 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dutch Dominion
Holdings B.V. CoGen CA, Inc. CEC Prime, Inc.
60239 60240 60241
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year (6) 283 (22)
Net Income -- 1,524 --
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ (6) $ 1,807 $ (22)
===============================================
</TABLE>
Page 74 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dutch Dominion
Holdings B.V. CoGen CA, Inc. CEC Prime, Inc.
60239 60240 60241
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents 20 -- --
Accounts Receivable -- -- --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- -- --
-----------------------------------------------
Total Current Assets 20 -- --
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- 2,900 --
Investment-Unconsolidated Subs -- -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- --
-----------------------------------------------
Net Other Assets -- 2,900 --
-----------------------------------------------
Total Assets 20 2,900 --
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- --
Intercompany Due To/From 25 -- 21
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities 25 -- 21
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities 25 -- 21
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- -- 0
Treasury Stock -- -- --
Addl Paid in Capital -- 1,093 --
Retained Earnings (6) 1,807 (22)
-----------------------------------------------
Total Equity (6) 2,900 (21)
-----------------------------------------------
Total Liabilities & Equity 20 2,900 --
===============================================
</TABLE>
Page 75 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Termo Kern Front
Northway Santander Investment,
CoGen, Inc. Holding, L.L.C. L.P.
60242 60252 60300
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ 15,805 $ --
Costs -- 5,184 --
-----------------------------------------------
Operating margin -- 10,620 --
G&A -- 10 --
Depreciation & Amortization -- (6,305) --
-----------------------------------------------
Operating income -- 16,915 --
Equity Earnings -- -- 985
Interest Expense -- -- --
Other Income -- 1 --
Other Expense -- -- (1,225)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes -- 16,916 (240)
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ -- $ 16,916 $ (240)
===============================================
</TABLE>
Page 76 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Termo Kern Front
Northway Santander Investment,
CoGen, Inc. Holding, L.L.C. L.P.
60242 60252 60300
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 1,815 0 240
Net Income -- 16,916 (240)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 1,815 $ 16,916 $ (0)
===============================================
</TABLE>
Page 77 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Termo Kern Front
Northway Santander Investment,
CoGen, Inc. Holding, L.L.C. L.P.
60242 60252 60300
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- 1 --
Accounts Receivable 1,663 858 --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- (77,450) --
-----------------------------------------------
Total Current Assets 1,663 (76,591) --
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- -- --
Investment-Unconsolidated Subs -- 38,271 3,749
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets 34,871 (21,922) --
-----------------------------------------------
Net Other Assets 34,871 16,349 3,749
-----------------------------------------------
Total Assets 36,533 (60,242) 3,749
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- --
Intercompany Due To/From 34,718 (69,429) 0
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities 34,718 (69,429) 0
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- (51,130) --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities 34,718 (120,558) 0
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 1 43,400 --
Treasury Stock -- -- --
Addl Paid in Capital -- -- 3,749
Retained Earnings 1,815 16,916 (0)
-----------------------------------------------
Total Equity 1,816 60,316 3,749
-----------------------------------------------
Total Liabilities & Equity 36,533 (60,242) 3,749
===============================================
</TABLE>
Page 78 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
SJC/CNGE
Chalk Cliff
PSE - HS PSE - CC Investors,
Investment, L.P. Investment, L.P. Ltd.
60301 60302 60303
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ --
Costs -- -- --
-----------------------------------------------
Operating margin -- -- --
G&A -- -- --
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income -- -- --
Equity Earnings 911 873 --
Interest Expense -- -- --
Other Income -- -- --
Other Expense (1,315) (801) (1,230)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes (405) 72 (1,230)
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ (405) $ 72 $ (1,230)
===============================================
</TABLE>
Page 79 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
SJC/CNGE
Chalk Cliff
PSE - HS PSE - CC Investors,
Investment, L.P. Investment, L.P. Ltd.
60301 60302 60303
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 405 (72) 1,230
Net Income (405) 72 (1,230)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 0 $ 0 $ 0
===============================================
</TABLE>
Page 80 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
SJC/CNGE
Chalk Cliff
PSE - HS PSE - CC Investors,
Investment, L.P. Investment, L.P. Ltd.
60301 60302 60303
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- --
Accounts Receivable -- -- --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- -- --
-----------------------------------------------
Total Current Assets -- -- --
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- -- 17,151
Investment-Unconsolidated Subs 3,865 3,741 --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- --
-----------------------------------------------
Net Other Assets 3,865 3,741 17,151
-----------------------------------------------
Total Assets 3,865 3,741 17,151
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- 11
Intercompany Due To/From (0) -- --
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities (0) -- 11
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities (0) -- 11
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- -- --
Treasury Stock -- -- --
Addl Paid in Capital 3,865 3,741 17,140
Retained Earnings 0 0 0
-----------------------------------------------
Total Equity 3,865 3,741 17,140
-----------------------------------------------
Total Liabilities & Equity 3,865 3,741 17,151
===============================================
</TABLE>
Page 81 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
SJC/CNGE Dynegy Power Dynegy
San Joaquin Management Engineering,
Investors, Ltd. Services, L.P. Inc.
60304 60307 60400
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ 808 $ --
Costs -- 448 2
-----------------------------------------------
Operating margin -- 360 (2)
G&A -- -- 2,276
Depreciation & Amortization -- -- --
-----------------------------------------------
Operating income -- 360 (2,278)
Equity Earnings -- -- --
Interest Expense -- -- --
Other Income -- -- --
Other Expense 0 0 --
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 0 360 (2,278)
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 0 $ 360 $ (2,278)
===============================================
</TABLE>
Page 82 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
SJC/CNGE Dynegy Power Dynegy
San Joaquin Management Engineering,
Investors, Ltd. Services, L.P. Inc.
60304 60307 60400
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year (0) -- 43,500
Net Income 0 360 (2,278)
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 0 $ 360 $ 41,222
===============================================
</TABLE>
Page 83 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
SJC/CNGE Dynegy Power Dynegy
San Joaquin Management Engineering,
Investors, Ltd. Services, L.P. Inc.
60304 60307 60400
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- (2)
Accounts Receivable -- 12 --
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets -- 38 --
-----------------------------------------------
Total Current Assets -- 50 (2)
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment -- -- --
Accumulated DD&A -- -- --
-----------------------------------------------
Net Property, Plant and Equipment -- -- --
-----------------------------------------------
Other Assets
Investment-Consolidated Subs 35,057 -- --
Investment-Unconsolidated Subs -- -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets -- -- --
-----------------------------------------------
Net Other Assets 35,057 -- --
-----------------------------------------------
Total Assets 35,057 50 (2)
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable 12 -- 570
Intercompany Due To/From -- (310) (41,795)
Other Accrued Liabilities -- -- --
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities 12 (310) (41,225)
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities 12 (310) (41,225)
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- -- 1
Treasury Stock -- -- --
Addl Paid in Capital 35,045 -- --
Retained Earnings 0 360 41,222
-----------------------------------------------
Total Equity 35,045 360 41,223
-----------------------------------------------
Total Liabilities & Equity 35,057 50 (2)
===============================================
</TABLE>
Page 84 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dynegy Parts
Operating and Technical CoGen
Company Services, Inc. Lyondell, Inc.
60450 60451 60500
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ 50,626 $ 1,897 $ 113,270
Costs 34,130 1,942 119,001
-----------------------------------------------
Operating margin 16,496 (46) (5,731)
G&A 1,308 -- --
Depreciation & Amortization 572 84 1,433
-----------------------------------------------
Operating income 14,616 (129) (7,164)
Equity Earnings -- -- --
Interest Expense -- -- (6,889)
Other Income 0 -- 2,028
Other Expense 60 -- 15,980
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 14,676 (129) 3,954
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 14,676 $ (129) $ 3,954
===============================================
</TABLE>
Page 85 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dynegy Parts
Operating and Technical CoGen
Company Services, Inc. Lyondell, Inc.
60450 60451 60500
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 79,059 2,769 (19,954)
Net Income 14,676 (129) 3,954
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 93,735 $ 2,640 $ (16,000)
===============================================
</TABLE>
Page 86 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Dynegy Parts
Operating and Technical CoGen
Company Services, Inc. Lyondell, Inc.
60450 60451 60500
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents (417) (31) (18)
Accounts Receivable 2,927 43 6,533
Inventory 14,704 2,274 --
Risk Management Assets -- -- --
Prepaids & Other Assets 8,638 3,148 2,814
-----------------------------------------------
Total Current Assets 25,852 5,435 9,329
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment 7,442 290 46,389
Accumulated DD&A (3,484) (207) (8,736)
-----------------------------------------------
Net Property, Plant and Equipment 3,959 83 37,653
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- -- --
Investment-Unconsolidated Subs -- -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets 1,725 -- 5,956
-----------------------------------------------
Net Other Assets 1,725 -- 5,956
-----------------------------------------------
Total Assets 31,536 5,518 52,938
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable 213 83 901
Intercompany Due To/From (81,548) 2,775 (61,710)
Other Accrued Liabilities 12,520 18 16,071
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities (68,815) 2,876 (44,738)
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- 98,129
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail 6,596 -- 8,464
-----------------------------------------------
Total Liabilities (62,219) 2,876 61,855
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 20 1 7,083
Treasury Stock -- -- --
Addl Paid in Capital -- -- --
Retained Earnings 93,735 2,640 (16,000)
-----------------------------------------------
Total Equity 93,755 2,641 (8,917)
-----------------------------------------------
Total Liabilities & Equity 31,536 5,518 52,938
===============================================
</TABLE>
Page 87 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Gasification CoGen Bear Mountain
Services, Inc. Power, L.P. Limited
60501 60502 60503
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ 40,072 $ 9,422 $ 20,894
Costs 23,117 4,175 11,351
-----------------------------------------------
Operating margin 16,955 5,247 9,543
G&A 1,056 -- 412
Depreciation & Amortization 6 -- 1,670
-----------------------------------------------
Operating income 15,893 5,247 7,461
Equity Earnings -- -- --
Interest Expense -- (1,031) (3,580)
Other Income 20,634 -- 133
Other Expense -- (0) (2)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 36,527 4,215 4,011
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 36,527 $ 4,215 $ 4,011
===============================================
</TABLE>
Page 88 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Gasification CoGen Bear Mountain
Services, Inc. Power, L.P. Limited
60501 60502 60503
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 10,530 (9,436) (4,011)
Net Income 36,527 4,215 4,011
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 47,057 $ (5,221) $ (0)
===============================================
</TABLE>
Page 89 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Gasification CoGen Bear Mountain
Services, Inc. Power, L.P. Limited
60501 60502 60503
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- 2,100
Accounts Receivable 302 797 3,699
Inventory (0) -- --
Risk Management Assets -- -- --
Prepaids & Other Assets (0) 29 (4,096)
-----------------------------------------------
Total Current Assets 302 825 1,702
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment (0) -- 55,896
Accumulated DD&A 0 -- (7,728)
-----------------------------------------------
Net Property, Plant and Equipment 0 -- 48,168
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- -- --
Investment-Unconsolidated Subs -- -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets 0 -- --
-----------------------------------------------
Net Other Assets 0 -- --
-----------------------------------------------
Total Assets 302 825 49,871
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- -- 30
Intercompany Due To/From (57,241) (15,870) --
Other Accrued Liabilities 325 610 560
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt -- 814 2,551
-----------------------------------------------
Total Current Liabilities (56,916) (14,446) 3,140
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- 10,745 34,593
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail 10,161 3,275 --
-----------------------------------------------
Total Liabilities (46,755) (425) 37,733
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock 0 9,436 --
Treasury Stock -- -- --
Addl Paid in Capital -- (2,964) 12,138
Retained Earnings 47,057 (5,221) (0)
-----------------------------------------------
Total Equity 47,057 1,251 12,138
-----------------------------------------------
Total Liabilities & Equity 302 825 49,871
===============================================
</TABLE>
Page 90 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Chalk Cliff San Joaquin McKittrick
Limited Limited Limited
60504 60505 60508
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ 15,795 $ 21,644 $ 5,894
Costs 10,723 14,734 3,531
-----------------------------------------------
Operating margin 5,072 6,910 2,363
G&A 15 338 135
Depreciation & Amortization 1,554 1,267 419
-----------------------------------------------
Operating income 3,503 5,305 1,809
Equity Earnings -- -- --
Interest Expense (1,454) (1,846) (502)
Other Income 87 255 86
Other Expense 14,299 150 18,006
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 16,434 3,865 19,399
Income Tax Provision -- -- --
-----------------------------------------------
Net Income (loss) $ 16,434 $ 3,865 $ 19,399
===============================================
</TABLE>
Page 91 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Chalk Cliff San Joaquin McKittrick
Limited Limited Limited
60504 60505 60508
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year (16,434) (3,865) (19,399)
Net Income 16,434 3,865 19,399
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 0 $ (0) $ 0
===============================================
</TABLE>
Page 92 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Chalk Cliff San Joaquin McKittrick
Limited Limited Limited
60504 60505 60508
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents 3,930 6,668 6,999
Accounts Receivable 6,769 1,856 4,129
Inventory -- -- --
Risk Management Assets -- -- --
Prepaids & Other Assets (6,007) (1,007) (3,974)
-----------------------------------------------
Total Current Assets 4,692 7,517 7,154
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment 54,244 60,336 55,908
Accumulated DD&A (15,743) (28,577) (13,676)
-----------------------------------------------
Net Property, Plant and Equipment 38,502 31,759 42,232
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- -- --
Investment-Unconsolidated Subs 246 -- --
Noncurrent Risk Mgmt Assets -- -- --
Other Long Term Assets 65 244 182
-----------------------------------------------
Net Other Assets 312 244 182
-----------------------------------------------
Total Assets 43,505 39,520 49,568
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable 437 46 265
Intercompany Due To/From -- (0) --
Other Accrued Liabilities 885 522 772
Risk Management Liabilities -- -- --
Notes Payable and Current Portion Of LT Debt 23,126 -- 28,906
-----------------------------------------------
Total Current Liabilities 24,448 568 29,943
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- -- --
Noncur Risk Mgmt Liabilities -- -- --
Deferred Income Taxes-Noncur -- -- --
Other Long Term Liab. Detail -- -- --
-----------------------------------------------
Total Liabilities 24,448 568 29,943
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- -- --
Treasury Stock -- -- --
Addl Paid in Capital 19,057 38,952 19,625
Retained Earnings 0 (0) 0
-----------------------------------------------
Total Equity 19,057 38,952 19,625
-----------------------------------------------
Total Liabilities & Equity 43,505 39,520 49,568
===============================================
</TABLE>
Page 93 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy
DYNEGY INC. DMT Holdings, Inc. Canada Inc.
10001 10004 70001
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ -- $ -- $ 1,520,262
Costs 1,870 4 1,508,777
-----------------------------------------------
Operating margin (1,870) (4) 11,484
G&A -- -- 8,455
Depreciation & Amortization 238 -- 2,522
-----------------------------------------------
Operating income (2,108) (4) 508
Equity Earnings -- -- --
Interest Expense (66,193) (81,000) (3,713)
Other Income 67,195 78,491 1,973
Other Expense 5,023 (1,055) (2,957)
Minority In the Income of Sub (16,632) -- --
-----------------------------------------------
Income (loss) before income taxes (12,715) (3,568) (4,189)
Income Tax Provision 64,002 -- (2,419)
-----------------------------------------------
Net Income (loss) $ (76,717) $ (3,568) $ (1,769)
===============================================
</TABLE>
Page 94 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy
DYNEGY INC. DMT Holdings, Inc. Canada Inc.
10001 10004 70001
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 164,988 3,470 7,909
Net Income (76,717) (3,568) (1,769)
Cash Dividends Declared (24,028)
-----------------------------------------------
Retained Earnings, End of Year $ 64,243 $ (98) $ 6,139
===============================================
</TABLE>
Page 95 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy
DYNEGY INC. DMT Holdings, Inc. Canada Inc.
10001 10004 70001
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents 88 21,248 19,535
Accounts Receivable 34,786 131 160,002
Inventory -- -- 9,055
Risk Management Assets 2,568 -- 45,080
Prepaids & Other Assets 6,903 (11,382) 8,259
-----------------------------------------------
Total Current Assets 44,346 9,997 241,931
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment 3,246 -- 69,612
Accumulated DD&A (2,825) -- (3,723)
-----------------------------------------------
Net Property, Plant and Equipment 421 -- 65,889
-----------------------------------------------
Other Assets
Investment-Consolidated Subs 704,320 750 19,083
Investment-Unconsolidated Subs -- -- 4,322
Noncurrent Risk Mgmt Assets 117 -- 15,841
Other Long Term Assets 851,815 906,087 40,000
-----------------------------------------------
Net Other Assets 1,556,252 906,837 79,246
-----------------------------------------------
Total Assets 1,601,019 916,834 387,066
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable (2,403) -- 169,756
Intercompany Due To/From (690,948) 16,932 42,060
Other Accrued Liabilities 31,495 -- (4,495)
Risk Management Liabilities 0 -- 41,638
Notes Payable and Current Portion Of LT Debt 112,605 -- --
-----------------------------------------------
Total Current Liabilities (549,251) 16,932 248,960
-----------------------------------------------
Long-Term Liabilities
Long Term Debt 1,283,877 900,000 59,136
Noncur Risk Mgmt Liabilities -- -- 14,957
Deferred Income Taxes-Noncur 72,200 -- 4,068
Other Long Term Liab. Detail 9,556 -- (320)
-----------------------------------------------
Total Liabilities 816,382 916,932 326,802
-----------------------------------------------
Subordinated Capital 200,000 -- --
Equity
Preferred Stock 75,418 -- --
Common Stock 1,575 -- --
Treasury Stock (17,585) -- --
Addl Paid in Capital 460,985 -- 54,125
Retained Earnings 64,243 (98) 6,139
-----------------------------------------------
Total Equity 784,636 (98) 60,264
-----------------------------------------------
Total Liabilities & Equity 1,601,019 916,834 387,066
===============================================
</TABLE>
Page 96 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Canada Dynegy Europe Dynegy UK
Core Ltd. Limited Limited
70004 50003 50004
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ 2,493 $ -- $ 970,539
Costs 0 -- 925,395
-----------------------------------------------
Operating margin 2,493 -- 45,144
G&A 323 2 8,447
Depreciation & Amortization 40 -- 235
-----------------------------------------------
Operating income 2,130 (2) 36,462
Equity Earnings -- 25,014 --
Interest Expense -- (21) (725)
Other Income 83 932 687
Other Expense (0) (282) (0)
Minority In the Income of Sub -- -- --
-----------------------------------------------
Income (loss) before income taxes 2,213 25,641 36,423
Income Tax Provision (11) 311 10,521
-----------------------------------------------
Net Income (loss) $ 2,224 $ 25,330 $ 25,903
===============================================
</TABLE>
Page 97 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Canada Dynegy Europe Dynegy UK
Core Ltd. Limited Limited
70004 50003 50004
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year 2,007 78,675 (1,647)
Net Income 2,224 25,330 25,903
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 4,232 $ 104,005 $ 24,256
===============================================
</TABLE>
Page 98 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy Canada Dynegy Europe Dynegy UK
Core Ltd. Limited Limited
70004 50003 50004
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents 3,131 109 3,956
Accounts Receivable 162 -- 98,737
Inventory -- -- 24,170
Risk Management Assets -- -- 14,815
Prepaids & Other Assets -- -- 748
-----------------------------------------------
Total Current Assets 3,293 109 142,426
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment 187 -- 1,157
Accumulated DD&A (177) -- (467)
-----------------------------------------------
Net Property, Plant and Equipment 11 -- 689
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- 4,026 --
Investment-Unconsolidated Subs -- 324 --
Noncurrent Risk Mgmt Assets -- -- 20,937
Other Long Term Assets -- 25,016 4,983
-----------------------------------------------
Net Other Assets -- 29,366 25,920
-----------------------------------------------
Total Assets 3,303 29,476 169,035
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable 1,262 -- 96,814
Intercompany Due To/From (12,466) (58,760) 3,104
Other Accrued Liabilities 146 -- 6,092
Risk Management Liabilities -- -- 500
Notes Payable and Current Portion Of LT Debt -- -- --
-----------------------------------------------
Total Current Liabilities (11,058) (58,760) 106,510
-----------------------------------------------
Long-Term Liabilities
Long Term Debt -- 7,804 23,114
Noncur Risk Mgmt Liabilities -- -- 2,497
Deferred Income Taxes-Noncur -- (303) 8,040
Other Long Term Liab. Detail 369 (312) 592
-----------------------------------------------
Total Liabilities (10,690) (51,571) 140,753
-----------------------------------------------
Subordinated Capital -- -- --
Equity
Preferred Stock -- -- --
Common Stock -- -- 0
Treasury Stock -- -- --
Addl Paid in Capital 9,761 (22,958) 4,026
Retained Earnings 4,232 104,005 24,256
-----------------------------------------------
Total Equity 13,993 81,047 28,282
-----------------------------------------------
Total Liabilities & Equity 3,303 29,476 169,035
===============================================
</TABLE>
Page 99 of 102
<PAGE>
DYNEGY INC.
Consolidating Income Statement
Year to Date Ending December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy
Dynegy Norway Eliminations Consolidated
50011
-----------------------------------------------
<S> <C> <C> <C>
Revenues $ 5,021 $(2,905,420) $15,429,976
Costs 513 (2,903,935) 14,886,101
-----------------------------------------------
Operating margin 4,509 (1,485) 543,875
G&A 221 (762) 200,716
Depreciation & Amortization -- (188) 129,458
-----------------------------------------------
Operating income 4,287 (535) 213,701
Equity Earnings -- (4,309) 79,854
Interest Expense (206) 162,658 (78,164)
Other Income 107 (162,658) 73,288
Other Expense -- -- (45,520)
Minority In the Income of Sub -- -- (16,632)
-----------------------------------------------
Income (loss) before income taxes 4,189 (4,844) 226,528
Income Tax Provision 1,257 -- 74,677
-----------------------------------------------
Net Income (loss) $ 2,932 $ (4,844) $ 151,851
===============================================
</TABLE>
Page 100 of 102
<PAGE>
DYNEGY INC.
Consolidating Statements of Retained Earnings
For the Year Ended December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy
Dynegy Norway Eliminations Consolidated
50011
-----------------------------------------------
<S> <C> <C> <C>
Retained Earnings, Beginning of Year (0) (260,603) 125,223
Net Income 2,932 (4,844) 151,851
Cash Dividends Declared
-----------------------------------------------
Retained Earnings, End of Year $ 2,932 $ (265,447) $ 277,074
===============================================
</TABLE>
Page 101 of 102
<PAGE>
DYNEGY INC.
Consolidating Balance Sheet
As of December 31, 1999
($000)
<TABLE>
<CAPTION>
-----------------------------------------------
Dynegy
Dynegy Norway Eliminations Consolidated
50011
-----------------------------------------------
<S> <C> <C> <C>
Assets
Current Assets
Cash and Cash Equivalents -- -- 45,230
Accounts Receivable 5,016 (34,540) 2,041,416
Inventory -- -- 271,884
Risk Management Assets 2,981 -- 379,834
Prepaids & Other Assets 4 (814) 66,717
-----------------------------------------------
Total Current Assets 8,001 (35,354) 2,805,081
-----------------------------------------------
Property, Plant and Equipment
Property, Plant & Equipment (0) -- 2,575,100
Accumulated DD&A -- -- (557,219)
-----------------------------------------------
Net Property, Plant and Equipment (0) -- 2,017,881
-----------------------------------------------
Other Assets
Investment-Consolidated Subs -- (1,539,133) 0
Investment-Unconsolidated Subs -- -- 627,335
Noncurrent Risk Mgmt Assets 836 -- 452,912
Other Long Term Assets -- (2,050,497) 621,963
-----------------------------------------------
Net Other Assets 836 (3,589,630) 1,702,210
-----------------------------------------------
Total Assets 8,836 (3,624,984) 6,525,171
===============================================
Liabilities And Equity
Current Liabilities
Accounts Payable -- (315) 1,829,056
Intercompany Due To/From -- 7,609 (357)
Other Accrued Liabilities 1,232 (42,022) 184,013
Risk Management Liabilities -- 723 334,080
Notes Payable and Current Portion Of LT Debt -- (1,628) 191,731
-----------------------------------------------
Total Current Liabilities 1,232 (35,633) 2,538,523
-----------------------------------------------
Long-Term Liabilities --
Long Term Debt 4,672 (2,046,371) 1,333,926
Noncur Risk Mgmt Liabilities -- -- 321,252
Deferred Income Taxes-Noncur -- (3,923) 335,190
Other Long Term Liab. Detail 1 54 486,798
-----------------------------------------------
Total Liabilities 5,904 (2,085,873) 5,015,689
-----------------------------------------------
Subordinated Capital -- -- 200,000
Equity --
Preferred Stock -- -- 75,418
Common Stock -- (321,342) 1,575
Treasury Stock -- -- (17,585)
Addl Paid in Capital -- (952,322) 973,000
Retained Earnings 2,932 (265,447) 277,074
-----------------------------------------------
Total Equity 2,932 (1,539,111) 1,509,482
-----------------------------------------------
Total Liabilities & Equity 8,836 (3,624,984) 6,525,171
===============================================
</TABLE>
Page 102 of 102
<PAGE>
<TABLE>
<CAPTION>
Condensed Balance Sheets ($ in Thousands)
at December 31, 1999
North Illinova Illinova Illinova
Illinova American Resource Plantas Illinois Power Business
Generating Energy Recovery, Eolicas, Power Marketing, Enterprises
Company Services Inc. S.R.L. Company Inc. Inc.
---------- -------- -------- ------- ----------- ---------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Plant and Equipment
Utility plant in service $ - $ - $ - $ - $ 2,627,394 $1,272,051 $ -
Plant held for future use 0 0 0 0 2,050 1,124 0
Construction work in progress 0 0 0 0 101,496 190,190 0
Accumulated depreciation 0 0 0 0 (1,138,689) (656,308) 0
Other electric plant adjustment - net 0 0 0 0 147,000 2,017,593 0
----------------------------------------------------------------------------------------
0 0 0 0 1,739,251 2,824,650 0
Gas in underground storage - noncurrent 0 0 0 0 25,230 0 0
----------------------------------------------------------------------------------------
0 0 0 0 1,764,480 2,824,650 0
----------------------------------------------------------------------------------------
Investments and Other Assets 226,599 6,540 3,278 19,172 13,077 323 0
----------------------------------------------------------------------------------------
Current Assets
Cash and cash equivalents 750 4,226 713 1,228 23,535 29 0
Accounts receivable - service 0 0 0 0 91,717 6,421 0
Accounts receivable - other 1,591 10,203 701 274 93,647 26,046 0
Accounts receivable from affiliate 0 0 0 0 6,380 0 0
Accrued unbilled revenue 0 0 0 0 83,420 0 0
Materials and supplies, at average cost
Fossil fuel 0 0 0 0 100 38,798 0
Gas in underground storage 0 0 0 0 24,083 0 0
Operating materials 0 0 0 0 16,727 17,396 0
Assets from commodity price 0 0 0 0 0 1,648 0
risk managment activities
Prepaid and refundable incomes taxes, 573 4 24 463 101,738 4,107 0
prepayments and other
----------------------------------------------------------------------------------------
2,914 14,433 1,438 1,965 441,346 94,445 0
----------------------------------------------------------------------------------------
Deferred Charges
Stranded cost 0 0 0 0 320,298 0 0
Note receivable from affiliate 0 0 0 0 2,597,642 0 0
Other deferred charges 0 0 0 0 160,992 9,737 0
----------------------------------------------------------------------------------------
0 0 0 0 3,078,931 9,737 0
----------------------------------------------------------------------------------------
$ 229,513 $20,973 $4,716 $21,137 $ 5,297,835 $2,929,154 $ -
========================================================================================
CAPITAL AND LIABILITIES
Capitalization
Common stock $ 215,997 $11,440 1,234 $19,914 $ 1,274,057 $2,461,567 $ 192
Deferred compensation - ESOP 0 0 0 0 0 0 0
Retained Earnings 3,516 211 1,736 1,198 54,734 1,286 (192)
Accumulated other comprehensive 0 0 0 (229) 0 0 0
income (loss)
Capital stock expense 0 0 0 0 (7,212) 0 0
Treasury stock 0 0 0 0 (286,368) 0 0
----------------------------------------------------------------------------------------
Total common stock equity 219,513 11,651 2,970 20,883 1,035,210 2,462,853 0
----------------------------------------------------------------------------------------
Preferred stock 0 0 0 0 239,168 0 0
Long-term debt 0 0 0 0 1,906,409 0 0
----------------------------------------------------------------------------------------
Total capitalization $ 219,513 $11,651 $2,970 $20,883 $ 3,180,787 $2,462,853 $ 0
----------------------------------------------------------------------------------------
Current Liabilities
Accounts payable 5,944 9,780 264 254 91,660 72,534 0
Notes payable 0 0 0 0 327,274 313,883 0
Long-term debt maturing within one year 0 0 0 0 236,400 0 0
Dividends declared 0 0 0 0 569 0 0
Taxes accrued 0 0 0 0 26,845 4,778 0
Accrued interest 0 0 0 0 17,668 1,739 0
Liabilities from commodity price risk 0 0 0 0 0 1,342 0
management activities
Other 0 0 0 0 65,768 8,442 0
----------------------------------------------------------------------------------------
$ 5,944 $ 9,780 $ 264 $ 254 $ 766,185 $ 402,718 $ 0
----------------------------------------------------------------------------------------
Deferred Credits
Accumulated deferred income taxes 4,056 (459) 1,482 0 1,075,196 1,284 0
Accumulated deferred investment 0 0 0 0 24,691 13,409 0
tax credits
Other 0 0 0 0 250,976 48,891 0
----------------------------------------------------------------------------------------
4,056 (459) 1,482 0 1,350,863 63,584 0
----------------------------------------------------------------------------------------
$ 229,513 $20,972 $4,716 $21,137 $ 5,297,835 $2,929,154 $ -
========================================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Condensed Balance Sheets ($ in Thousands)
at December 31, 1999 Illinova
Illinova Illinova Energy Illinova
Holding Insurance Partners, Corporation
Company Company Inc. Eliminations Consolidated
---------- --------- --------- ------------ ------------
<S> <C> <C> <C> <C> <C>
ASSETS
Plant and Equipment
Utility plant in service $ - $ - $ - $ - $ 3,899,444
Plant held for future use 0 0 0 0 3,174
Construction work in progress 0 0 0 0 291,686
Accumulated depreciation (30) 0 0 0 (1,795,027)
Other electric plant adjustment - net 0 0 0 0 2,164,593
---------------------------------------------------------------------
(30) 0 0 0 4,563,870
Gas in underground storage -
noncurrent 0 0 0 0 25,230
---------------------------------------------------------------------
(30) 0 0 0 4,589,100
---------------------------------------------------------------------
Investments and Other Assets 3,719,727 3,331 18,932 (3,719,691) 291,287
---------------------------------------------------------------------
Current Assets
Cash and cash equivalents 9,188 7,186 2,805 0 49,659
Accounts receivable - service 0 0 0 0 98,139
Accounts receivable - other 0 23,644 43,031 (89,596) 109,540
Accounts receivable from affiliate 0 0 0 (6,380) -
Accrued unbilled revenue 0 0 0 0 83,420
Materials and supplies, at average cost
Fossil fuel 0 0 0 0 38,898
Gas in underground storage 0 0 0 0 24,083
Operating materials 0 0 2,303 0 36,425
Assets from commodity price 0 0 5,909 0 7,556
risk management activities
Prepaid and refundable incomes taxes, 42,871 652 78 (38,695) 111,815
prepayments and other
---------------------------------------------------------------------
52,059 31,481 54,125 (134,671) 559,536
---------------------------------------------------------------------
Deferred Charges
Stranded cost 0 0 0 0 320,298
Note receivable from affliate 16 0 0 (2,597,642) 16
Other deferred charges 1,847 0 927 (668) 172,834
---------------------------------------------------------------------
1,863 0 927 (2,598,310) 493,148
---------------------------------------------------------------------
$ 3,773,619 $34,813 73,984 (6,452,672) 5,933,072
=====================================================================
CAPITAL AND LIABILITIES
Capitalization
Common stock $ 1,211,923 1,477 1 (3,985,878) 1,211,924
Deferred compensation - ESOP (668) 0 0 0 (668)
Retained Earnings (44,556) (56) (42,253) (20,180) (44,556)
Accumulated other comprehensive 0 (3) 0 0 (232)
income (loss)
Capital stock expense 0 0 0 0 (7,212)
Treasury stock (137,276) 0 0 286,368 (137,276)
---------------------------------------------------------------------
Total common stock equity 1,029,423 1,418 (42,252) (3,719,691) 1,021,979
---------------------------------------------------------------------
Preferred stock 0 0 0 0 239,168
Long-term debt 154,498 0 0 0 2,060,907
---------------------------------------------------------------------
Total capitalization $1,183,921 $ 1,418 (42,252) (3,719,691) 3,322,054
---------------------------------------------------------------------
Current Liabilities
Accounts payable 700 2,002 34,039 (38,548) 178,630
Notes payable 0 0 0 0 641,157
Long-term debt maturing within one year 0 0 0 0 236,400
Dividends declared 21,825 0 0 0 22,394
Taxes accrued 0 659 146 0 32,427
Accrued interest 4,276 0 0 0 23,683
Liabilities from commodity price risk 0 0 4,474 0 5,816
management activities
Other 2,562,138 30,734 95,173 (2,655,070) 107,185
---------------------------------------------------------------------
$2,588,938 $33,395 133,832 (2,693,618) 1,247,693
---------------------------------------------------------------------
Deferred Credits
Accumulated deferred income taxes 0 0 (17,596) (38,695) 1,025,267
Accumulated deferred investment 0 0 0 0 38,100
tax credits
Other 91 0 0 0 299,957
---------------------------------------------------------------------
91 0 (17,596) (38,695) 1,363,324
---------------------------------------------------------------------
$3,773,619 $34,813 73,984 (6,452,672) 5,933,071
=====================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Condensed Statements of Income ($ in Thousands)
Year Ended December 31, 1999
North Illinova Illinova Illinova
Illinova American Resource Plantas Illinois Power Business Illinova
Generating Energy Recovery, Eolicas, Power Marketing, Enterprises, Holding
Company Services Inc. S.R.L. Company Inc. Inc. Company
---------- -------- --------- -------- ---------- ---------- ----------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Operating Revenues
Electric $ - $ - $ - $ - $1,178,583 $ 9 $ - $ -
Electric interchange 0 0 0 0 420,245 131,516 0 0
Gas 0 0 0 0 304,369 0 0 0
Diversified enterprises 0 77,617 4,774 4,400 0 0 0 0
------------------------------------------------------------------------------------------------------
Total 0 77,617 4,774 4,400 1,903,197 131,525 0 0
------------------------------------------------------------------------------------------------------
Operating Expenses
Fuel for electric plants 0 0 0 0 191,244 55,655 0 0
Power puchased 0 0 0 0 421,101 12,870 0 0
Gas purchased for resale 0 0 0 0 165,131 0 0 0
Diversified enterprises 16,351 76,332 1,880 3,201 0 0 0 17,475
Other operating expenses 0 0 0 0 466,765 20,490 0 0
Retirement and severence
expense 96 0 0 0
Maintenance 0 0 0 0 107,784 12,588 0 0
Depreciation 0 0 0 0 151,786 24,790 0 0
Amortization of regulatory
asset 0 0 0 0 26,435 0 0 0
General taxes 0 0 0 0 100,833 1,746 0 0
------------------------------------------------------------------------------------------------------
Total 16,351 76,332 1,880 3,201 1,631,175 128,138 0 17,475
------------------------------------------------------------------------------------------------------
Operating income (loss) (16,351) 1,285 2,894 1,199 272,022 3,388 0 (17,475)
------------------------------------------------------------------------------------------------------
Other Income
Miscellaneous - net 7,973 0 0 0 4,239 1,271 0 2,474
Equity earnings in affiliates 9,973 0 0 0 52,421 0 0 96,508
------------------------------------------------------------------------------------------------------
Total 17,946 0 0 0 56,660 1,271 0 98,982
------------------------------------------------------------------------------------------------------
Income (loss) before interest 1,595 1,285 2,894 1,199 328,682 4,659 0 81,507
charges and income taxes
------------------------------------------------------------------------------------------------------
Interest Charges
Interest expense 0 0 0 0 148,451 2,363 0 65,038
Allowance for borrowed funds
used during construction 0 0 0 0 (4,233) 0 0 0
Preferred dividend require-
ments of subsidiary 0 0 0 0 19,181 0 0 0
------------------------------------------------------------------------------------------------------
Total 0 0 0 0 163,399 2,363 0 65,038
------------------------------------------------------------------------------------------------------
Income (loss) before taxes 1,595 1,285 2,894 1,199 165,283 2,295 0 16,469
Income Taxes ------------------------------------------------------------------------------------------------------
0 0 0 0
Other (1,922) 1,074 1,158 0 71,375 1,010 0 (26,461)
------------------------------------------------------------------------------------------------------
Total (1,922) 1,074 1,158 0 71,375 1,010 0 (26,461)
------------------------------------------------------------------------------------------------------
Net income (loss) 3,517 211 1,736 1,199 93,908 1,286 0 42,929
Carrying amount over consid-
eration paid for
redeemed preferred
stock of subsidiary 0 0 0 0 1,657 0 0 0
------------------------------------------------------------------------------------------------------
Net income (loss)applicable $ 3,517 $ 211 $ 1,736 $ 1,199 $ 95,566 $ 1,286 - 42,929
to common stock
======================================================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Condensed Statements of Income ($ in Thousands)
Year Ended December 31, 1999
Illinova
Illinova Energy Illinova
Insurance Partners, Corporation
Company Inc. Eliminations Consolidated
--------- --------- ------------ ------------
<S> <C> <C> <C> <C>
Operating Revenues
Electric $ - $ - $ (3,802) $ 1,174,789
Electric interchange 0 0 (105,823) 445,938
Gas 0 0 (667) 303,703
Diversified enterprises 7,448 408,321 (2,200) 500,360
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Total 7,448 408,321 (112,492) 2,424,791
---------------------------------------------------------
Operating Expenses
Fuel for electric plants 0 0 27 246,926
Power purchased 0 0 (105,823) 328,148
Gas purchased for resale 0 0 (549) 164,583
Diversified enterprises 8,077 423,578 0 546,894
Other operating expenses 0 0 (3,947) 483,308
Retirement and severence
expense 0 0 0 96
Maintenance 0 0 0 120,371
Depreciation 0 0 0 176,576
Amortization of regulatory
asset 0 0 0 26,435
General taxes 0 0 0 102,579
---------------------------------------------------------
Total 8,077 423,578 (110,292) 2,195,915
---------------------------------------------------------
Operating income (loss) (629) (15,258) (2,200) 228,876
---------------------------------------------------------
Other Income
Miscellaneous - net 521 0 2,200 18,677
Equity earnings in affiliates 0 2,921 (148,929) 12,894
---------------------------------------------------------
Total 521 2,921 (146,729) 31,571
---------------------------------------------------------
Income (loss) before interest (108) (12,336) (148,929) 260,447
charges and income taxes
---------------------------------------------------------
Interest Charges
Interest expense 0 0 (52,421) 163,432
Allowance for borrowed funds
used during construction 0 0 0 (4,233)
Preferred dividend require-
ments of subsidiary 0 0 0 19,181
---------------------------------------------------------
Total 0 0 (52,421) 178,380
---------------------------------------------------------
Income (loss) before income (108) (12,336) (96,508) 82,067
taxes
---------------------------------------------------------
Income Taxes -
Other (42) (4,735) (0) 41,456
---------------------------------------------------------
Total (42) (4,735) (0) 41,456
---------------------------------------------------------
Net income (loss) (66) (7,601) (96,508) 40,611
Carrying amount over consid-
eration paid for
redeemed preferred
stock of subsidiary 0 0 0 1,657
---------------------------------------------------------
Net income (loss) applicable $ (66) $(7,601) $ (96,508) 42,269
to common stock
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