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Previous: N U PIZZA HOLDING CORP, 8-K, 2000-10-23 |
Next: MERANT PLC, 6-K, 2000-10-23 |
Condensed Balance Sheets ($ in Thousands)
at December 31, 1999
<TABLE>
<CAPTION>
North Illinova Illinova
Illinova American Resource Plantas Illinois Power
Generating Energy Recovery, Eolicas, Power Marketing,
Company Services Inc. S.R.L. Company Inc.
<S> <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
Construction work in progress 0 0 0 0 101,496 190,190
Accumulated depreciation 0 0 0 0 (1,138,689) (656,308)
Other electric plant adjustment - net 0 0 0 0 147,000 2,017,593
----------------------------------------------------------------------
0 0 0 0 1,739,251 2,824,650
Gas in underground storage - noncurrent 0 0 0 0 25,230 0
----------------------------------------------------------------------
0 0 0 0 1,764,480 2,824,650
----------------------------------------------------------------------
Investments and Other Assets 226,599 6,540 3,278 19,172 13,077 323
----------------------------------------------------------------------
Current Assets
Cash and cash equivalents 750 4,226 713 1,228 23,535 29
Accounts receivable - service 0 0 0 0 91,717 6,421
Accounts receivable - other 1,591 10,203 701 274 93,647 26,046
Accounts receivable from affiliate 0 0 0 0 6,380 0
Accrued unbilled revenue 0 0 0 0 83,420 0
Materials and supplies, at average cost
Fossil fuel 0 0 0 0 100 38,798
Gas in underground storage 0 0 0 0 24,083 0
Operating materials 0 0 0 0 16,727 17,396
Assets from commodity price risk management
activites 0 0 0 0 0 1,648
Prepaid and refundable income taxes,
prepayments and other 573 4 24 463 101,738 4,107
----------------------------------------------------------------------
2,914 14,433 1,438 1,965 441,346 94,445
----------------------------------------------------------------------
Deferred Charges
Stranded cost 0 0 0 0 320,298 0
Note receivable from affiliate 0 0 0 0 2,597,642 0
Other deferred charges 0 0 0 0 160,992 9,737
----------------------------------------------------------------------
0 0 0 0 3,078,931 9,737
----------------------------------------------------------------------
$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
Deferred compensation - ESOP 0 0 0 0 0 0
Retained earnings 3,516 211 1,736 1,198 54,734 1,286
Accumulated other comprehensive income (loss) 0 0 0 (229) 0 0
Capital stock expense 0 0 0 0 (7,212) 0
Treasury stock 0 0 0 0 (286,368) 0
----------------------------------------------------------------------
Total common stock equity 219,513 11,651 2,970 20,883 1,035,210 2,462,853
----------------------------------------------------------------------
Preferred stock 0 0 0 0 239,168 0
Long-term debt 0 0 0 0 1,906,409 0
----------------------------------------------------------------------
Total capitalization 219,513 11,651 2,970 20,883 3,180,787 2,462,853
----------------------------------------------------------------------
Current Liabilities
Accounts payable 5,944 9,780 264 254 91,660 72,534
Notes payable 0 0 0 0 327,274 313,883
Long-term debt maturing within one year 0 0 0 0 236,400 0
Dividends declared 0 0 0 0 569 0
Taxes accrued 0 0 0 0 26,845 4,778
Accrued interest 0 0 0 0 17,668 1,739
Liabilities from commodity price risk
management activites 0 0 0 0 0 1,342
Other 0 0 0 0 65,768 8,442
----------------------------------------------------------------------
5,944 9,780 264 254 766,185 402,718
----------------------------------------------------------------------
Deferred Credits
Accumulated deferred income taxes 4,056 (459) 1,482 0 1,075,196 1,284
Accumulated deferred investment tax credits 0 0 0 0 24,691 13,409
Other 0 0 0 0 250,976 48,891
----------------------------------------------------------------------
4,056 (459) 1,482 0 1,350,863 63,584
----------------------------------------------------------------------
$229,513 $20,972 $ 4,716 $ 21,137 $5,297,835 $2,929,154
======================================================================
<CAPTION>
Illinova Illinova
Business Illinova Illinova EMC Gas Energy Illinova
Enterprises, Holding Insurance Transmission Partners, Corporation
Inc. Company Company Company Inc. Eliminations Consolidated
<S> <C> <C> <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 0 0 $ 3,174
Construction work in progress 0 0 0 0 0 0 $ 291,686
Accumulated depreciation 0 (30) 0 0 0 0 $(1,795,027)
Other electric plant adjustment - net 0 0 0 0 0 0 $ 2,164,593
----------------------------------------------------------------------------------------
0 (30) 0 0 0 0 $ 4,563,870
Gas in underground storage - noncurrent 0 0 0 0 0 0 $ 25,230
----------------------------------------------------------------------------------------
0 (30) 0 0 0 0 $ 4,589,100
----------------------------------------------------------------------------------------
Investments and Other Assets 0 3,719,727 3,331 12 18,920 (3,719,691) $ 291,287
----------------------------------------------------------------------------------------
Current Assets
Cash and cash equivalents 0 9,188 7,186 788 2,017 0 $ 49,659
Accounts receivable - service 0 0 0 0 0 0 $ 98,139
Accounts receivable - other 0 0 23,644 7,322 35,709 (89,596) $ 109,540
Accounts receivable from affiliate 0 0 0 0 0 (6,380) $ --
Accrued unbilled revenue 0 0 0 0 0 0 $ 83,420
Materials and supplies, at average cost $ --
Fossil fuel 0 0 0 0 0 0 $ 38,898
Gas in underground storage 0 0 0 0 0 0 $ 24,083
Operating materials 0 0 0 824 1,479 0 $ 36,425
Assets from commodity price risk
management activites 0 0 0 0 5,909 0 $ 7,556
Prepaid and refundable income
taxes, prepayments and other 0 42,871 652 0 78 (38,695) $ 111,815
----------------------------------------------------------------------------------------
0 52,059 31,481 8,934 45,191 (134,671) $ 559,536
----------------------------------------------------------------------------------------
Deferred Charges
Stranded cost 0 0 0 0 0 0 $ 320,298
Note receivable from affiliate 0 16 0 0 0 (2,597,642) $ 16
Other deferred charges 0 1,847 0 0 927 (668) $ 172,834
----------------------------------------------------------------------------------------
0 1,863 0 0 927 (2,598,310) $ 493,148
----------------------------------------------------------------------------------------
$ -- $3,773,619 $ 34,813 $ 8,946 $ 65,038 $(6,452,672) $ 5,933,072
========================================================================================
CAPITAL AND LIABILITIES
Capitalization
Common stock $ 192 $1,211,923 $ 1,477 $ -- $ 1 $(3,985,878) $ 1,211,924
Deferred compensation - ESOP 0 (668) 0 0 0 0 $ (668)
Retained earnings (192) (44,556) (56) 509 (42,762) (20,180) $ (44,556)
Accumulated other comprehensive
income (loss) 0 0 (3) 0 0 0 $ (232)
Capital stock expense 0 0 0 0 0 0 $ (7,212)
Treasury stock 0 (137,276) 0 0 0 286,368 $ (137,276)
----------------------------------------------------------------------------------------
Total common stock equity 0 1,029,423 1,418 509 (42,761) (3,719,691) $ 1,021,979
----------------------------------------------------------------------------------------
Preferred stock 0 0 0 0 0 0 $ 239,168
Long-term debt 0 154,498 0 0 0 0 $ 2,060,907
----------------------------------------------------------------------------------------
Total capitalization 0 1,183,921 1,418 509 (42,761) (3,719,691) $ 3,322,054
----------------------------------------------------------------------------------------
Current Liabilities
Accounts payable 0 700 2,002 6,204 27,835 (38,548) $ 178,630
Notes payable 0 0 0 0 0 0 $ 641,157
Long-term debt maturing within one year 0 0 0 0 0 0 $ 236,400
Dividends declared 0 21,825 0 0 0 0 $ 22,394
Taxes accrued 0 0 659 225 (79) 0 $ 32,427
Accrued interest 0 4,276 0 0 0 0 $ 23,683
Liabilities from commodity price
risk management activites 0 0 0 0 4,474 0 $ 5,816
Other 0 2,562,138 30,734 2,008 93,165 (2,655,070) $ 107,185
----------------------------------------------------------------------------------------
0 2,588,938 33,395 8,437 125,395 (2,693,618) $ 1,247,693
----------------------------------------------------------------------------------------
Deferred Credits
Accumulated deferred income taxes 0 0 0 0 (17,596) (38,695) $ 1,025,267
Accumulated deferred investment
tax credits 0 0 0 0 0 0 $ 38,100
Other 0 91 0 0 0 0 $ 299,957
----------------------------------------------------------------------------------------
0 91 0 0 (17,596) (38,695) $ 1,363,324
----------------------------------------------------------------------------------------
$ -- $3,773,619 $ 34,813 $ 8,946 $ 65,038 $(6,452,672) $ 5,933,071
========================================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
North Illinova Illanova
Illinova American Resource Plantas Illinova Power
Condensed Statements of Income ($ in Thousands) Generating Energy Recovery, Eolicas, Power Marketing,
Year Ended December 31, 1999 Company Services Inc. S.R.L. Company Inc.
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues
Electric $ - $ - $ - $ - $ 1,178,583 $ 9
Electric interchange 0 0 0 0 420,245 131,516
Gas 0 0 0 0 304,369 0
Diversified enterprises 0 77,617 4,774 4,400 0 0
--------------------------------------------------------------------------
Total 0 77,617 4,774 4,400 1,903,197 131,525
--------------------------------------------------------------------------
Operating Expenses
Fuel for electric plants 0 0 0 0 191,244 55,655
Power purchased 0 0 0 0 421,101 12,870
Gas purchased for resale 0 0 0 0 165,131 0
Diversified enterprises 16,351 76,332 1,880 3,201 0 0
Other operating expenses 0 0 0 0 466,765 20,490
Retirement and severence expense 96 0
Maintenance 0 0 0 0 107,784 12,588
Depreciation 0 0 0 0 151,786 24,790
Amortization of regulatory asset 0 0 0 0 26,435 0
General taxes 0 0 0 0 100,833 1,746
--------------------------------------------------------------------------
Total 16,351 76,332 1,880 3,201 1,631,175 128,138
--------------------------------------------------------------------------
Operating income (loss) (16,351) 1,285 2,894 1,199 272,022 3,388
--------------------------------------------------------------------------
Other Income
Miscellaneous - net 7,973 0 0 0 4,239 1,271
Equity earnings in affiliates 9,973 0 0 0 52,421 0
--------------------------------------------------------------------------
Total 17,946 0 0 0 56,660 1,271
--------------------------------------------------------------------------
Income (loss) before interest charges and income taxes 1,595 1,285 2,894 1,199 328,682 4,659
--------------------------------------------------------------------------
Interest Charges
Interest expense 0 0 0 0 148,451 2,363
Allowance for borrowed funds used during 0 0 0 0 (4,233) 0
construction
Preferred dividend requirements of subsidiary 0 0 0 0 19,181 0
--------------------------------------------------------------------------
Total 0 0 0 0 163,399 2,363
--------------------------------------------------------------------------
Income (loss) before income taxes 1,595 1,285 2,894 1,199 165,283 2,295
--------------------------------------------------------------------------
Income Taxes 0 0 0 0
Other (1,922) 1,074 1,158 0 71,375 1,010
--------------------------------------------------------------------------
Total (1,922) 1,074 1,158 0 71,375 1,010
--------------------------------------------------------------------------
Net income (loss) 3,517 211 1,736 1,199 93,908 1,286
Carrying amount over consideration paid
for redeemed preferred stock of subsidiary 0 0 0 0 1,657 0
--------------------------------------------------------------------------
Net income (loss) applicable to common stock $ 3,517 $ 211 $ 1,736 $ 1,199 $ 95,566 $ 1,286
==========================================================================
<CAPTION>
Illinova Illinova
Business Illinova Illinova EMC Gas Energy
Condensed Statements of Income ($ in Thousands) Enterprises, Holding Insurance Transmission Partners,
Year Ended December 31, 1999 Inc. Company Company Company Inc.
<S> <C> <C> <C> <C> <C>
Operating Revenues
Electric $ - $ - $ - $ - $ -
Electric interchange 0 0 0 0 0
Gas 0 0 0 0 0
Diversified enterprises 0 0 7,448 38,773 369,548
------------------------------------------------------------------------
Total 0 0 7,448 38,773 369,548
------------------------------------------------------------------------
Operating Expenses
Fuel for electric plants 0 0 0 0 0
Power purchased 0 0 0 0 0
Gas purchased for resale 0 0 0 0 0
Diversified enterprises 0 17,475 8,077 38,153 385,425
Other operating expenses 0 0 0 0 0
Retirement and severence expense 0 0 0 0 0
Maintenance 0 0 0 0 0
Depreciation 0 0 0 0 0
Amortization of regulatory asset 0 0 0 0 0
General taxes 0 0 0 0 0
------------------------------------------------------------------------
Total 0 17,475 8,077 38,153 385,425
------------------------------------------------------------------------
Operating income (loss) 0 (17,475) (629) 620 (15,878)
------------------------------------------------------------------------
Other Income
Miscellaneous - net 0 2,474 521 0 0
Equity earnings in affiliates 0 96,508 0 0 2,921
------------------------------------------------------------------------
Total 0 98,982 521 0 2,921
------------------------------------------------------------------------
Income (loss) before interest charges and income taxes 0 81,507 (108) 620 (12,956)
------------------------------------------------------------------------
Interest Charges
Interest expense 0 65,038 0 0 0
Allowance for borrowed funds used during 0 0 0 0 0
construction
Preferred dividend requirements of subsidiary 0 0 0 0 0
------------------------------------------------------------------------
Total 0 65,038 0 0 0
------------------------------------------------------------------------
Income (loss) before income taxes 0 16,469 (108) 620 (12,956)
------------------------------------------------------------------------
Income Taxes
Other 0 (26,461) (42) 234 (4,969)
------------------------------------------------------------------------
Total 0 (26,461) (42) 234 (4,969)
------------------------------------------------------------------------
Net income (loss) 0 42,929 (66) 386 (7,987)
Carrying amount over consideration paid
for redeemed preferred stock of subsidiary 0 0 0 0 0
------------------------------------------------------------------------
Net income (loss) applicable to common stock $ - $ 42,929 $ (66) $ 386 $ (7,987)
========================================================================
<CAPTION>
Illinova
Condensed Statements of Income ($ in Thousands) Corporation
Year Ended December 31, 1999 Eliminations Consolidated
Operating Revenues
<S> <C> <C>
Electric $ (3,802) $ 1,174,789
Electric interchange (105,823) $ 445,938
Gas (667) $ 303,703
Diversified enterprises (2,200) $ 500,360
------------------------------------
Total (112,492) $ 2,424,791
------------------------------------
Operating Expenses
Fuel for electric plants 27 $ 246,926
Power purchased (105,823) $ 328,148
Gas purchased for resale (549) $ 164,583
Diversified enterprises 0 $ 546,894
Other operating expenses (3,947) $ 483,308
Retirement and severence expense 0 $ 96
Maintenance 0 $ 120,371
Depreciation 0 $ 176,576
Amortization of regulatory asset 0 $ 26,435
General taxes 0 $ 102,579
------------------------------------
Total (110,292) $ 2,195,915
------------------------------------
Operating income (loss) (2,200) $ 228,876
------------------------------------
Other Income
Miscellaneous - net 2,200 $ 18,677
Equity earnings in affiliates (148,929) $ 12,894
------------------------------------
Total (146,729) $ 31,571
------------------------------------
Income (loss) before interest charges and income taxes (148,929) $ 260,447
------------------------------------
Interest Charges
Interest expense (52,421) $ 163,432
Allowance for borrowed funds used during 0 $ (4,233)
construction
Preferred dividend requirements of subsidiary 0 $ 19,181
------------------------------------
Total (52,421) $ 178,380
------------------------------------
Income (loss) before income taxes (96,508) $ 82,067
--------------------------------
Income Taxes
Other (0) $ 41,456
------------------------------------
Total (0) $ 41,456
------------------------------------
Net income (loss) (96,508) $ 40,611
Carrying amount over consideration paid
for redeemed preferred stock of subsidiary 0 $ 1,657
------------------------------------
Net income (loss) applicable to common stock $ (96,508) $ 42,269
====================================
</TABLE>
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