Exhibit 99 | |||||
Reorganized Debtor | ($Millions) | ||||
| 12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 |
INCOME STATEMENT | |||||
Total Operating Revenues* | 10494.1 | 10768.6 | 10770.2 | 11015.0 | |
| |||||
Operating Expenses: | |||||
Total Cost of Energy* | 5946.7 | 6103.4 | 5984.0 | 6106.1 | |
M&O and A&G Costs | 2046.3 | 2104.2 | 2157.3 | 2217.4 | |
Depreciation & Decommissioning | 803.3 | 836.5 | 886.7 | 934.2 | |
Property & Other Taxes | 109.8 | 111.4 | 113.0 | 114.8 | |
RRB Asset Amortization | 290.1 | 289.8 | 290.4 | 290.5 | |
Total Operating Expenses | 9196.3 | 9445.3 | 9431.4 | 9663.0 | |
| |||||
Operating Income | 1297.8 | 1323.3 | 1338.8 | 1352.1 | |
| |||||
Total Interest Income | 16.3 | 16.3 | 16.3 | 16.3 | |
Interest Expense (Excl RRBs) | 305.1 | 316.7 | 329.7 | 335.7 | |
RRB Interest | 68.9 | 50.3 | 31.5 | 12.1 | |
Total Interest Expense | 374.0 | 367.0 | 361.2 | 347.8 | |
| |||||
Other Income | (64.2) | (66.4) | (66.3) | (67.6) | |
| |||||
Pretax Income | 875.8 | 906.1 | 927.6 | 953.0 | |
| |||||
Total Booked Income Taxes | 363.3 | 376.7 | 385.9 | 394.7 | |
| |||||
Preferred Dividend Req | 24.9 | 24.6 | 23.5 | 26.0 | |
| |||||
Total Earnings Avail for Common | 487.6 | 504.9 | 518.2 | 532.2 | |
* Excludes Receipts and Disbursements for CDWR Procurement. |
Reorganized Debtor | ($Millions) | |||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 | ||
BALANCE SHEET | ||||||
Assets: | ||||||
Plant in Service | 20309.5 | 21228.8 | 22205.4 | 23096.5 | 23993.4 | |
Accumulated Depr | (9523.3) | (10218.6) | (10958.9) | (11669.8) | (12422.5) | |
Net Plant | 10786.1 | 11010.2 | 11246.6 | 11426.6 | 11571.0 | |
| ||||||
Construction Work In Progress | 55.7 | 56.9 | 57.4 | 56.6 | 55.8 | |
| ||||||
Other Noncurrent Assets | 65.0 | 62.3 | 62.3 | 62.3 | 62.3 | |
Total Long-term Assets | 10906.8 | 11129.5 | 11366.4 | 11545.6 | 11689.1 | |
| ||||||
Current Assets: | ||||||
Short-term Investments (Net) | 543.2 | 543.2 | 543.2 | 543.2 | 543.2 | |
Accounts Receivable | 1822.7 | 1776.3 | 1803.2 | 1793.0 | 1828.3 | |
| ||||||
Balancing Accts Receivable | 84.4 | 84.2 | 84.2 | 84.3 | 84.4 | |
Inventory - Fuels | 108.7 | 111.6 | 112.8 | 95.0 | 104.8 | |
Inventory - M&S | 30.5 | 28.7 | 29.5 | 30.3 | 31.0 | |
Prepayments & Adv to Gas Prod | 79.3 | 75.1 | 75.1 | 75.1 | 75.1 | |
Total Current Assets | 2668.8 | 2619.0 | 2647.9 | 2620.9 | 2666.9 | |
| ||||||
Deferred Charges: | ||||||
Expense Deferral (Reg Assets) | 1241.8 | 951.7 | 662.0 | 371.6 | 81.1 | |
Other Deferred Charges | 1455.0 | 1431.3 | 1415.2 | 1399.2 | 1383.1 | |
Total Deferred Charges | 2696.9 | 2383.1 | 2077.2 | 1770.7 | 1464.2 | |
| ||||||
TOTAL ASSETS | 16272.5 | 16131.6 | 16091.5 | 15937.2 | 15820.2 |
Reorganized Debtor | ($Millions) | |||||||
| 12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 |
| ||
Capitalization: |
| |||||||
Common Stock Equity | 4861.4 | 5010.2 | 5209.7 | 5332.7 | 5460.5 |
| ||
Preferred Stock (incl QUIDS) | 423.5 | 412.9 | 406.0 | 399.1 | 489.7 |
| ||
RRBs Outstanding | 1160.3 | 870.2 | 580.1 | 290.0 | 0.0 |
| ||
Other Long-term Debt | 4600.0 | 4487.5 | 4692.5 | 4840.3 | 4867.9 |
| ||
Total Capitalization | 11045.1 | 10780.7 | 10888.3 | 10862.1 | 10818.1 |
| ||
|
| |||||||
Current Liabilities: |
| |||||||
Short-Term Borrowings | 0.0 | 109.7 | 110.9 | 93.1 | 102.9 |
| ||
Accounts Payable - Creditors | 973.2 | 981.3 | 998.2 | 984.1 | 1004.4 |
| ||
Accounts Payable - Affiliates | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| ||
Balancing Accounts Payable | 140.2 | 140.5 | 139.6 | 138.7 | 137.8 |
| ||
Accrued Taxes Payable | 327.9 | 394.9 | 312.9 | 314.7 | 316.4 |
| ||
Interest Payable | 20.6 | 24.8 | 30.0 | 30.8 | 31.8 |
| ||
Dividends Payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| ||
Other Current Liabilities | 577.7 | 577.7 | 577.7 | 577.7 | 577.7 |
| ||
Total Current Liabilities | 2039.7 | 2228.9 | 2169.2 | 2139.2 | 2171.0 |
| ||
|
| |||||||
Deferred Credits and Other NC Liabilities: |
| |||||||
Deferred Income Taxes | 449.3 | 395.1 | 308.8 | 213.7 | 109.9 |
| ||
Deferred ITC | 98.4 | 94.8 | 90.3 | 85.9 | 81.4 |
| ||
Noncurrent Balancing Acct Liab | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| ||
Customer Advances for Construction | 132.0 | 123.9 | 126.8 | 128.3 | 131.7 |
| ||
Other Deferred Credits | 1649.1 | 1649.1 | 1649.1 | 1649.1 | 1649.1 |
| ||
Other Noncurrent Liab. | 858.8 | 859.0 | 859.0 | 859.0 | 858.9 |
| ||
Total Deferred Credits & NC Liab | 3187.6 | 3121.9 | 3034.0 | 2935.9 | 2831.0 |
| ||
|
| |||||||
| ||||||||
TOTAL CAPITAL & LIABILITIES | 16272.5 | 16131.6 | 16091.5 | 15937.2 | 15820.2 |
|
Reorganized Debtor | ($Millions) | ||||||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 |
| ||||
| |||||||||
CASH FLOW STATEMENT |
| ||||||||
Cash Flows From Operations: |
| ||||||||
Net Income | 512.5 | 529.5 | 541.7 | 558.2 |
| ||||
Depreciation | 786.3 | 819.5 | 869.7 | 917.2 |
| ||||
Change in Deferred Taxes | (57.8) | (90.8) | (99.6) | (108.2) |
| ||||
Change in Accts Receivable | 46.4 | (26.8) | 10.2 | (35.3) |
| ||||
Change in Inventories | (2.9) | (2.0) | 17.0 | (10.6) |
| ||||
Change in Accts Payable | 8.1 | 16.8 | (14.0) | 20.3 |
| ||||
Change in Accrued Taxes Payable | 67.0 | (82.0) | 1.8 | 1.7 |
| ||||
Change in Bal Accts & Reg Asset Amort | 290.4 | 288.7 | 289.4 | 289.5 |
| ||||
Change in Other Working Capital | 8.7 | 5.2 | 0.8 | 1.0 |
| ||||
Other Net Cash from Operations | 78.1 | 93.0 | 90.5 | 87.2 |
| ||||
Net Cash from Operations | 1736.8 | 1551.1 | 1707.5 | 1720.9 |
| ||||
|
| ||||||||
Investing Activities: |
| ||||||||
Capital Expenditures | (1058.1) | (1113.4) | (1104.7) | (1111.8) |
| ||||
Other Net Investing Activities | (17.0) | (17.0) | (17.0) | (17.0) |
| ||||
Net Cash Used In Investing | (1075.1) | (1130.4) | (1121.7) | (1128.8) |
| ||||
|
| ||||||||
Financing Activities: |
| ||||||||
Common Stock Issued (Repurchased) | (338.7) | (305.3) | (395.2) | (404.4) |
| ||||
Preferred Stock Issued | 0.0 | 0.0 | 0.0 | 150.0 |
| ||||
Preferred Stock redeemed | (10.6) | (6.9) | (6.9) | (59.4) |
| ||||
Long-term Debt issued | (112.4) | 205.0 | 147.8 | 27.6 |
| ||||
Long-term Debt matured/redeemed | 0.0 | 0.0 | 0.0 | 0.0 |
| ||||
Long-term Debt purch/sinking | 0.0 | 0.0 | 0.0 | 0.0 |
| ||||
RRB Principal Repayments | (290.1) | (290.1) | (290.1) | (290.1) |
| ||||
Change in Short-term Position | 109.7 | 1.2 | (17.8) | 9.8 |
| ||||
Dividends Disbursed | (19.6) | (24.6) | (23.7) | (25.6) |
| ||||
Other Net Financing Activities | 0.0 | 0.0 | 0.0 | 0.0 |
| ||||
Net Cash Used In Financing | (661.7) | (420.7) | (585.8) | (592.1) |
| ||||
|
| ||||||||
Net Change in Cash | 0.0 | 0.0 | 0.0 | 0.0 |
| ||||
|
Reorganized Debtor | ($Millions) | ||||||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 |
| ||||
| |||||||||
SUPPLEMENTAL INFORMATION |
| ||||||||
Revenues |
| ||||||||
Gas | 2483.1 | 2594.9 | 2516.2 | 2626.8 |
| ||||
Public Purpose | 313.4 | 322.4 | 331.5 | 341.0 |
| ||||
Electric |
| 7697.6 | 7851.3 | 7922.4 | 8047.2 |
| |||
Total from Inc Stmt | 10494.1 | 10768.6 | 10770.2 | 11015.0 |
| ||||
| |||||||||
Energy Costs |
| ||||||||
Gas Procurement | 1052.3 | 1067.4 | 940.2 | 997.0 |
| ||||
Gtrans Payments | 416.9 | 481.8 | 502.2 | 525.5 |
| ||||
Etrans Payments | 885.8 | 936.1 | 968.3 | 990.0 |
| ||||
Gen Payments | 1465.1 | 1482.1 | 1518.2 | 1558.8 |
| ||||
QF Payments | 1560.6 | 1546.1 | 1466.0 | 1342.1 |
| ||||
Third Party Bilats | 0.0 | 0.0 | 0.0 | 0.0 |
| ||||
Net Open1 | 349.0 | 291.2 | 337.1 | 401.8 |
| ||||
Other Gen Costs2 |
| 217.2 | 298.7 | 252.0 | 291.0 |
| |||
Total from Inc Stmt | 5946.7 | 6103.4 | 5984.0 | 6106.1 |
| ||||
| |||||||||
M&O and A&G Costs |
| ||||||||
Gas | 557.9 | 574.3 | 588.9 | 606.1 |
| ||||
Public Purpose | 310.2 | 319.0 | 328.1 | 337.5 |
| ||||
Electric |
| 1178.2 | 1210.8 | 1240.3 | 1273.8 |
| |||
Total from Inc Stmt | 2046.3 | 2104.2 | 2157.3 | 2217.4 |
| ||||
| |||||||||
Depreciation & Decommissioning |
| ||||||||
Gas | 182.7 | 193.8 | 203.7 | 213.1 |
| ||||
Electric |
| 620.6 | 642.8 | 683.0 | 721.1 |
| |||
Total from Inc Stmt | 803.3 | 836.5 | 886.7 | 934.2 |
| ||||
| |||||||||
Property & Other Taxes |
| ||||||||
Gas | 21.8 | 22.1 | 22.4 | 22.8 |
| ||||
Electric |
| 88.0 | 89.3 | 90.6 | 92.0 |
| |||
Total from Inc Stmt | 109.8 | 111.4 | 113.0 | 114.8 |
| ||||
| |||||||||
Average Annual Distribution Rate Base |
| ||||||||
Gas | 2126.3 | 2145.9 | 2191.5 | 2232.3 |
| ||||
Electric | 7816.9 | 7896.2 | 8036.4 | 8149.8 |
| ||||
| |||||||||
Authorized Capital Structure |
| ||||||||
% Debt | 46.2% | 46.2% | 46.2% | 46.2% |
| ||||
% Preferred | 5.8% | 5.8% | 5.8% | 5.8% |
| ||||
% Equity | 48.0% | 48.0% | 48.0% | 48.0% |
| ||||
| 100.0% | 100.0% | 100.0% | 100.0% |
| ||||
Authorized Cost of Capital |
| ||||||||
Debt | 6.64% | 6.76% | 6.76% | 6.78% |
| ||||
Preferred | 6.50% | 6.50% | 6.50% | 6.50% |
| ||||
Equity | 11.20% | 11.20% | 11.20% | 11.20% |
| ||||
Return on Rate Base | 8.82% | 8.88% | 8.88% | 8.89% |
| ||||
| |||||||||
1Includes Capacity payments |
| ||||||||
2Includes ISO, Renewables, and Retained Fossil fuel costs net of RMR revenues and WAPA payments |
|
Reorganized Debtor | ($Millions) | ||||||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 |
| ||||
SUPPLEMENTAL INFORMATION |
| ||||||||
Gas Procurement Volumes and Average Price |
| ||||||||
Gas Sales (mDTH) | 289964 | 293022 | 295963 | 299030 |
| ||||
Average Price ($/mmBtu) | 3.63 | 3.64 | 3.18 | 3.33 |
| ||||
| |||||||||
Elec Procurement Volumes and Average Price1 |
| ||||||||
Volumes (GWh) |
| ||||||||
Gen Bilats | 33114 | 33514 | 33514 | 33530 |
| ||||
QF | 21004 | 20758 | 20312 | 19553 |
| ||||
Third Party Bilats | 0 | 0 | 0 | 0 |
| ||||
Other Gen2 | 2518 | 3141 | 3517 | 3839 |
| ||||
Net Open |
| 2878 | 1464 | 1923 | 1867 |
| |||
Total Non-DWR Supply | 59514 | 58877 | 59266 | 58789 |
| ||||
DWR | 19191 | 18621 | 19279 | 20252 |
| ||||
Total (excl D/A) | 78704 | 77498 | 78546 | 79042 |
| ||||
| |||||||||
Average Price ($/MWh) |
| ||||||||
Gen Bilats | 44.24 | 44.22 | 45.30 | 46.49 |
| ||||
QF | 74.30 | 74.48 | 72.17 | 68.64 |
| ||||
Third Party Bilats | 0.00 | 0.00 | 0.00 | 0.00 |
| ||||
Other Gen3 | 86.26 | 95.09 | 71.65 | 75.81 |
| ||||
Net Open4 |
| 121.26 | 198.95 | 175.34 | 215.24 |
| |||
Total Non-DWR Supply | 60.35 | 61.45 | 60.29 | 61.13 |
| ||||
DWR | 110.26 | 111.22 | 103.47 | 99.58 |
| ||||
Overall Average (excl D/A) | 72.52 | 73.41 | 70.89 | 70.98 |
| ||||
| |||||||||
Sales/Deliveries (GWh) |
| ||||||||
Total Deliveries | 78686 | 79686 | 80688 | 81690 |
| ||||
Bundled Sales | 69721 | 70721 | 71723 | 72725 |
| ||||
Direct Access | 8965 | 8965 | 8965 | 8965 |
| ||||
| |||||||||
Average Rate (½/kWh) |
| ||||||||
Total Deliveries | 12.56 | 12.55 | 12.39 | 12.42 |
| ||||
Bundled Sales | 13.35 | 13.33 | 13.13 | 13.16 |
| ||||
Direct Access | 6.45 | 6.45 | 6.45 | 6.45 |
| ||||
| |||||||||
1Electric Procurement Volumes and Average Prices are shown before the effects of |
| ||||||||
netting line losses and Helms pumping |
| ||||||||
2Includes Retained Fossil, Renewables, Etiwanda & EBMUD, and Puget inbound |
| ||||||||
3Includes ISO Ancillary Services, Renewables, and Retained Fossil fuel costs net of RMR |
| ||||||||
revenues and WAPA payments |
| ||||||||
4Includes Capacity payments |
|
ETrans | ($Millions) | ||||
| 12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 |
INCOME STATEMENT | |||||
Total Operating Revenues | 885.8 | 936.1 | 968.3 | 990.0 | |
| |||||
Operating Expenses: | |||||
Grid Services | 244.5 | 242.4 | 239.0 | 236.6 | |
M&O and A&G Costs | 205.9 | 206.2 | 210.3 | 214.5 | |
Depreciation | 136.3 | 145.7 | 151.6 | 158.6 | |
Property & Other Taxes | 34.6 | 38.0 | 40.3 | 41.7 | |
Total Operating Expenses | 621.3 | 632.3 | 641.2 | 651.3 | |
| |||||
Operating Income | 264.5 | 303.9 | 327.1 | 338.7 | |
| |||||
Total Interest Income | 0.0 | 0.0 | 0.0 | 0.0 | |
Total Interest Expense | 90.6 | 94.9 | 100.7 | 104.4 | |
| |||||
Other Income | 8.1 | 7.7 | 6.1 | 6.3 | |
| |||||
Pretax Income | 182.0 | 216.7 | 232.4 | 240.6 | |
| |||||
Total Booked Income Taxes | 80.6 | 92.5 | 98.1 | 101.0 | |
| |||||
Preferred Dividend Req | 0.0 | 0.0 | 0.0 | 0.0 | |
| |||||
Total Earnings Avail for Common | 101.3 | 124.1 | 134.4 | 139.6 | |
|
ETrans | ($Millions) | ||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 | |
BALANCE SHEET | |||||
Assets: | |||||
Plant in Service | 3563.3 | 3934.0 | 4264.1 | 4452.9 | 4669.7 |
Accumulated Depr | (1412.8) | (1490.9) | (1585.1) | (1693.6) | (1805.3) |
Net Plant | 2150.5 | 2443.1 | 2679.0 | 2759.2 | 2864.4 |
| |||||
Construction Work In Progress | 174.2 | 171.6 | 169.0 | 166.5 | 164.1 |
| |||||
Other Noncurrent Assets | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Total Long-term Assets | 2324.7 | 2614.7 | 2848.0 | 2925.8 | 3028.5 |
| |||||
Current Assets: | |||||
Short-term Investments (Net) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Accounts Receivable | 89.3 | 94.6 | 100.0 | 103.5 | 105.8 |
Other Current Assets | 23.8 | 24.3 | 24.9 | 25.5 | 26.0 |
Total Current Assets | 113.1 | 119.0 | 124.9 | 128.9 | 131.8 |
| |||||
Deferred Charges | 122.1 | 122.1 | 122.1 | 122.1 | 122.1 |
| |||||
TOTAL ASSETS | 2560.9 | 2855.8 | 3095.0 | 3176.8 | 3282.4 |
|
ETrans | ($Millions) | ||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 | |
Capitalization: | |||||
Common Stock Equity | 700.0 | 990.8 | 1114.9 | 1153.9 | 1202.2 |
Preferred Stock (incl QUIDS) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Other Long-term Debt | 1250.0 | 1250.0 | 1367.6 | 1411.6 | 1469.6 |
Total Capitalization | 1950.0 | 2240.8 | 2482.5 | 2565.5 | 2671.8 |
| |||||
Current Liabilities: | |||||
Short-Term Borrowings (Net) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Accounts Payable | 44.6 | 44.4 | 44.2 | 44.3 | 44.5 |
Balancing Accounts Payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Accrued Taxes Payable | 21.5 | 22.7 | 23.9 | 24.4 | 24.7 |
Long-Term Debt - Current | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Interest Payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Dividends Payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Other Current Liabilities | 10.8 | 10.8 | 10.8 | 10.8 | 10.8 |
Total Current Liabilities | 76.9 | 77.9 | 78.9 | 79.6 | 80.0 |
| |||||
Deferred Credits and Other NC Liabilities: | |||||
Deferred Income Taxes | 396.6 | 400.3 | 397.3 | 396.0 | 395.3 |
Deferred ITC | 15.0 | 14.5 | 14.0 | 13.4 | 12.9 |
Noncurrent Balancing Acct Liab | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Customer Advances for Construction | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Other Deferred Credits | 122.3 | 122.3 | 122.3 | 122.3 | 122.3 |
Other Noncurrent Liab. | 0.0 | 0.0 | 0.0 | 0.0 | (0.0) |
Total Deferred Credits & NC Liab | 533.9 | 537.1 | 533.6 | 531.7 | 530.5 |
| |||||
| |||||
TOTAL CAPITAL & LIABILITIES | 2560.9 | 2855.8 | 3095.0 | 3176.8 | 3282.4 |
|
ETrans | ($Millions) | ||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 | |
CASH FLOW STATEMENT | |||||
Cash Flows From Operations: | |||||
Net Income | 101.3 | 124.1 | 134.4 | 139.6 | |
Depreciation | 136.3 | 145.7 | 151.6 | 158.6 | |
Change in Deferred Taxes | 3.1 | (3.5) | (1.8) | (1.2) | |
Change in Accts Receivable | (5.4) | (5.4) | (3.4) | (2.3) | |
Change in Inventories | 0.0 | 0.0 | 0.0 | 0.0 | |
Change in Accts Payable | (0.2) | (0.2) | 0.1 | 0.2 | |
Change in Accrued Taxes Payable | 1.2 | 1.2 | 0.6 | 0.3 | |
Change in Other Working Capital | (0.6) | (0.6) | (0.6) | (0.6) | |
Other Net Cash from Operations | (11.3) | (11.6) | (11.6) | (12.1) | |
Net Cash from Operations | 224.6 | 249.9 | 269.2 | 282.4 | |
| |||||
Investing Activities: | |||||
Capital Expenditures | (414.0) | (367.5) | (217.7) | (249.1) | |
Other Net Investing Activities | 0.0 | 0.0 | 0.0 | 0.0 | |
Net Cash Used In Investing | (414.0) | (367.5) | (217.7) | (249.1) | |
| |||||
Financing Activities: | |||||
Common Stock Issued (Repurchased) | 189.4 | 0.0 | (95.4) | (91.2) | |
Preferred Stock Issued | 0.0 | 0.0 | 0.0 | 0.0 | |
Preferred Stock redeemed | 0.0 | 0.0 | 0.0 | 0.0 | |
Long-term Debt issued | 0.0 | 117.6 | 44.0 | 58.0 | |
Long-term Debt matured/redeemed | 0.0 | 0.0 | 0.0 | 0.0 | |
Long-term Debt purch/sinking | 0.0 | 0.0 | 0.0 | 0.0 | |
Change in Short-term Position | 0.0 | 0.0 | 0.0 | 0.0 | |
Dividends Disbursed | 0.0 | 0.0 | 0.0 | 0.0 | |
Other Net Financing Activities | 0.0 | 0.0 | 0.0 | 0.0 | |
Net Cash Used In Financing | 189.4 | 117.6 | (51.4) | (33.2) | |
| |||||
Net Change in Cash | 0.0 | (0.0) | 0.0 | 0.0 | |
ETrans | ($Millions) | ||||||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 | |||||
SUPPLEMENTAL INFORMATION | |||||||||
Average Year Authorized Capital Structure | |||||||||
% Equity | 40.1% | 44.6% | 44.9% | 45.0% | |||||
% Debt | 59.9% | 55.4% | 55.1% | 55.0% | |||||
100.0% | 100.0% | 100.0% | 100.0% | ||||||
Ratebase | |||||||||
End of Year | 2234.6 | 2474.5 | 2557.1 | 2664.1 | |||||
Average Annual | 2068.3 | 2354.6 | 2515.8 | 2610.6 | |||||
Authorized Cost of Capital | |||||||||
Equity | 12.5% | 12.5% | 12.5% | 12.0% | |||||
Debt | 7.25% | 7.25% | 7.25% | 7.25% |
GTrans | ($Millions) | ||||
| 12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 |
INCOME STATEMENT | |||||
Total Operating Revenues | 416.9 | 481.8 | 502.2 | 525.5 | |
| |||||
Operating Expenses: | |||||
Total Cost of Energy | 0.0 | 0.0 | 0.0 | 0.0 | |
M&O and A&G Costs | 155.5 | 160.5 | 163.6 | 168.7 | |
Depreciation | 84.0 | 91.4 | 96.3 | 102.4 | |
Property & Other Taxes | 27.0 | 27.9 | 29.5 | 30.4 | |
Total Operating Expenses | 266.4 | 279.8 | 289.5 | 301.5 | |
| |||||
Operating Income | 150.4 | 202.0 | 212.7 | 224.0 | |
| |||||
Total Interest Income | 0.0 | 0.0 | 0.0 | 0.0 | |
Total Interest Expense | 68.9 | 70.7 | 71.8 | 69.9 | |
| |||||
Other Income | 5.5 | 12.3 | 8.7 | 7.9 | |
| |||||
Pretax Income | 87.0 | 143.5 | 149.5 | 162.0 | |
| |||||
Total Booked Income Taxes | 34.8 | 56.4 | 59.4 | 64.7 | |
| |||||
Preferred Dividend Req | 0.0 | 0.0 | 0.0 | 0.0 | |
| |||||
Total Earnings Avail for Common | 52.2 | 87.1 | 90.1 | 97.3 | |
|
GTrans | ($Millions) | ||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 | |
BALANCE SHEET | |||||
Assets: | |||||
Plant in Service | 2941.6 | 2939.1 | 3252.0 | 3367.7 | 3508.0 |
Accumulated Depr | (1188.2) | (1218.2) | (1282.9) | (1359.2) | (1441.6) |
Net Plant | 1753.4 | 1720.9 | 1969.2 | 2008.5 | 2066.4 |
| |||||
Construction Work In Progress | 37.5 | 133.5 | 57.7 | 76.7 | 21.7 |
| |||||
Other Noncurrent Assets | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Total Long-term Assets | 1790.9 | 1854.3 | 2026.9 | 2085.2 | 2088.1 |
| |||||
Current Assets: | |||||
Short-term Investments (Net) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Accounts Receivable | 56.1 | 57.1 | 63.7 | 65.8 | 68.2 |
Other Current Assets | 115.3 | 115.3 | 115.3 | 115.3 | 115.3 |
Total Current Assets | 171.4 | 172.4 | 179.0 | 181.1 | 183.5 |
| |||||
Deferred Charges | 107.0 | 107.0 | 107.0 | 107.0 | 107.0 |
| |||||
TOTAL ASSETS | 2069.2 | 2133.8 | 2312.9 | 2373.3 | 2378.6 |
|
GTrans | ($Millions) | ||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 | |
Capitalization: | |||||
Common Stock Equity | 553.2 | 605.3 | 692.4 | 782.5 | 817.1 |
Preferred Stock (incl QUIDS) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Other Long-term Debt | 950.0 | 952.2 | 1022.3 | 988.6 | 950.0 |
Total Capitalization | 1503.2 | 1557.5 | 1714.7 | 1771.1 | 1767.1 |
| |||||
Current Liabilities: | |||||
Short-Term Borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Accounts Payable | 50.1 | 52.1 | 63.1 | 53.0 | 48.6 |
Balancing Accounts Payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Accrued Taxes Payable | 46.0 | 46.0 | 46.1 | 46.3 | 46.4 |
Long-Term Debt - Current | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Interest Payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Dividends Payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Other Current Liabilities | 55.0 | 55.0 | 55.0 | 55.0 | 55.0 |
Total Current Liabilities | 151.1 | 153.2 | 164.2 | 154.3 | 150.0 |
| |||||
Deferred Credits and Other NC Liabilities: | |||||
Deferred Income Taxes | 346.9 | 355.5 | 366.9 | 381.3 | 395.4 |
Deferred ITC | 11.0 | 10.6 | 10.1 | 9.6 | 9.1 |
Noncurrent Balancing Acct Liab | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Customer Advances for Construction | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Other Deferred Credits | 57.0 | 57.0 | 57.0 | 57.0 | 57.0 |
Other Noncurrent Liab. | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Total Deferred Credits & NC Liab | 414.9 | 423.1 | 434.0 | 448.0 | 461.5 |
| |||||
| |||||
TOTAL CAPITAL & LIABILITIES | 2069.2 | 2133.8 | 2312.9 | 2373.3 | 2378.6 |
|
GTrans | ($Millions) | ||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 | |
CASH FLOW STATEMENT | |||||
Cash Flows From Operations: | |||||
Net Income | 52.2 | 87.1 | 90.1 | 97.3 | |
Depreciation | 84.0 | 91.4 | 96.3 | 102.4 | |
Change in Deferred Taxes | 8.1 | 10.9 | 13.9 | 13.6 | |
Change in Accts Receivable | (1.0) | (6.6) | (2.1) | (2.4) | |
Change in Inventories | 0.0 | 0.0 | 0.0 | 0.0 | |
Change in Accts Payable | 2.0 | 11.0 | (10.1) | (4.4) | |
Change in Accrued Taxes Payable | 0.0 | 0.1 | 0.2 | 0.1 | |
Change in Other Working Capital | 0.0 | 0.0 | 0.0 | 0.0 | |
Other Net Cash from Operations | 0.0 | (0.0) | 0.0 | (0.0) | |
Net Cash from Operations | 145.3 | 193.8 | 188.4 | 206.6 | |
| |||||
Investing Activities: | |||||
Capital Expenditures | (142.0) | (251.6) | (146.0) | (97.4) | |
Other Net Investing Activities | (5.5) | (12.3) | (8.7) | (7.9) | |
Net Cash Used In Investing | (147.5) | (263.9) | (154.7) | (105.3) | |
| |||||
Financing Activities: | |||||
Common Stock Issued (Repurchased) | (0.0) | 0.0 | 0.0 | (62.7) | |
Preferred Stock Issued | 0.0 | 0.0 | 0.0 | 0.0 | |
Preferred Stock redeemed | 0.0 | 0.0 | 0.0 | 0.0 | |
Long-term Debt issued | 2.2 | 70.1 | (33.7) | (38.6) | |
Long-term Debt matured/redeemed | 0.0 | 0.0 | 0.0 | 0.0 | |
Change in Short-term Position | 0.0 | 0.0 | 0.0 | 0.0 | |
Dividends Disbursed | 0.0 | 0.0 | 0.0 | 0.0 | |
Other Net Financing Activities | 0.0 | 0.0 | 0.0 | 0.0 | |
Net Cash Used In Financing | 2.2 | 70.1 | (33.7) | (101.3) | |
| |||||
Net Change in Cash | (0.0) | 0.0 | 0.0 | 0.0 | |
GTrans | ($Millions) | ||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 | |
SUPPLEMENTAL INFORMATION | |||||
EOY Capital Structure | |||||
% Equity | 38.9% | 40.4% | 44.2% | 46.2% | |
% Debt | 61.1% | 59.6% | 55.8% | 53.8% | |
100.0% | 100.0% | 100.0% | 100.0% | ||
Ratebase | |||||
End of Year | 1550.0 | 1787.3 | 1812.7 | 1857.1 | |
Average Annual | 1570.3 | 1668.6 | 1800.0 | 1834.9 | |
Cost of Capital | |||||
Equity | N.A. | 13% | 13% | 13% | |
Debt | 7.25% | 7.25% | 7.25% | 7.25% |
Gen | ($Millions) | ||||
| 12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 |
INCOME STATEMENT | |||||
Total Operating Revenues | 1465.1 | 1482.1 | 1518.2 | 1558.8 | |
| |||||
Operating Expenses: | |||||
Total Cost of Energy | 89.5 | 93.8 | 95.2 | 96.7 | |
M&O and A&G Costs | 592.1 | 537.7 | 561.2 | 578.8 | |
Depreciation | 50.5 | 62.0 | 65.7 | 69.4 | |
Property & Other Taxes | 64.2 | 65.5 | 66.6 | 67.6 | |
Total Operating Expenses | 796.3 | 759.0 | 788.7 | 812.5 | |
| |||||
Operating Income | 668.7 | 723.1 | 729.5 | 746.2 | |
| |||||
Total Interest Income | 0.0 | 0.0 | 0.0 | 0.0 | |
Total Interest Expense | 149.6 | 149.6 | 148.4 | 145.8 | |
| |||||
Other Income | 84.8 | 92.2 | 100.4 | 109.2 | |
| |||||
Pretax Income | 603.9 | 665.7 | 681.4 | 709.7 | |
| |||||
Total Booked Income Taxes | 244.7 | 269.8 | 276.3 | 287.8 | |
| |||||
Preferred Dividend Req | 0.0 | 0.0 | 0.0 | 0.0 | |
| |||||
Total Earnings Avail for Common | 359.2 | 395.8 | 405.2 | 421.9 | |
|
Gen | ($Millions) | ||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 | |
BALANCE SHEET | |||||
Assets: | |||||
Plant in Service | 1630.7 | 1748.3 | 1982.0 | 2080.9 | 2187.5 |
Accumulated Depr | (839.3) | (889.8) | (951.9) | (1017.5) | (1086.9) |
Net Plant | 791.4 | 858.5 | 1030.1 | 1063.4 | 1100.6 |
| |||||
Construction Work In Progress | 25.3 | 66.5 | 0.0 | 62.6 | 171.3 |
| |||||
Other Noncurrent Assets | 1618.7 | 1791.8 | 1869.2 | 1952.2 | 2041.2 |
Total Long-term Assets | 2435.5 | 2716.8 | 2899.3 | 3078.2 | 3313.1 |
| |||||
Current Assets: | |||||
Short-term Investments (Net) | 0.0 | 85.2 | 171.6 | 286.3 | 402.7 |
Accounts Receivable | 180.8 | 180.6 | 182.7 | 187.2 | 192.2 |
Inventory - M&S | 66.0 | 66.0 | 66.0 | 66.0 | 66.0 |
Total Current Assets | 246.8 | 331.8 | 420.3 | 539.5 | 660.9 |
| |||||
Deferred Charges | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| |||||
TOTAL ASSETS | 2682.2 | 3048.6 | 3319.6 | 3617.7 | 3974.0 |
|
Gen | ($Millions) | ||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 | |
Capitalization: | |||||
Common Stock Equity | (598.5) | (428.0) | (243.4) | (17.2) | 270.2 |
Preferred Stock (incl QUIDS) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
RRBs Outstanding | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Other Long-term Debt | 1700.0 | 1700.0 | 1673.1 | 1640.3 | 1579.6 |
Total Capitalization | 1101.5 | 1272.0 | 1429.7 | 1623.0 | 1849.8 |
| |||||
Current Liabilities: | |||||
Short-Term Borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Accounts Payable | 79.7 | 81.6 | 75.0 | 77.5 | 79.2 |
Long-Term Debt - Current | 0.0 | 0.0 | 26.9 | 32.8 | 60.6 |
Interest Payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Dividends Payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Other Current Liabilities | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Total Current Liabilities | 79.7 | 81.6 | 101.9 | 110.3 | 139.8 |
| |||||
Deferred Credits and Other NC Liabilities: | |||||
Deferred Income Taxes | 7.2 | 29.7 | 47.1 | 62.1 | 73.1 |
Deferred ITC | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Other Deferred Credits | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Other Noncurrent Liab. | 1493.9 | 1665.3 | 1740.9 | 1822.2 | 1911.2 |
Total Deferred Credits & NC Liab | 1501.1 | 1694.9 | 1788.0 | 1884.3 | 1984.3 |
| |||||
TOTAL CAPITAL & LIABILITIES | 2682.2 | 3048.6 | 3319.6 | 3617.7 | 3974.0 |
|
Gen | ($Millions) | ||||
12/31/2003 | 12/31/2004 | 12/31/2005 | 12/31/2006 | 12/31/2007 | |
CASH FLOW STATEMENT | |||||
Cash Flows From Operations: | |||||
Net Income | 359.2 | 395.8 | 405.2 | 421.9 | |
Depreciation | 50.5 | 62.0 | 65.7 | 69.4 | |
Change in Deferred Taxes | 22.5 | 17.4 | 15.0 | 11.0 | |
Change in Accts Receivable | 0.1 | (2.1) | (4.4) | (5.0) | |
Change in Inventories | 0.0 | 0.0 | 0.0 | 0.0 | |
Change in Accts Payable | 2.0 | (6.7) | 2.5 | 1.7 | |
Change in Accrued Taxes Payable | 0.0 | 0.0 | 0.0 | 0.0 | |
Change in Other Working Capital | 0.0 | 0.0 | 0.0 | 0.0 | |
Other Net Cash from Operations | 83.7 | 89.0 | 94.7 | 100.7 | |
Net Cash from Operations | 518.1 | 555.5 | 578.6 | 599.7 | |
| |||||
Investing Activities: | |||||
Capital Expenditures | (158.8) | (167.2) | (161.5) | (215.3) | |
Other Net Investing Activities | (170.6) | (177.2) | (211.2) | (217.1) | |
Net Cash Used In Investing | (329.3) | (344.4) | (372.7) | (432.4) | |
| |||||
Financing Activities: | |||||
Common Stock Issued (Repurchased) | (188.8) | (211.2) | (179.0) | (134.5) | |
Preferred Stock Issued | 0.0 | 0.0 | 0.0 | 0.0 | |
Preferred Stock redeemed | 0.0 | 0.0 | 0.0 | 0.0 | |
Long-term Debt issued | 0.0 | 0.0 | 0.0 | 0.0 | |
Long-term Debt matured/redeemed | 0.0 | 0.0 | (26.9) | (32.8) | |
Long-term Debt purch/sinking | 0.0 | 0.0 | 0.0 | 0.0 | |
Change in Short-term Position | 0.0 | 0.0 | 0.0 | 0.0 | |
Dividends Disbursed | 0.0 | 0.0 | 0.0 | 0.0 | |
Other Net Financing Activities | (0.0) | 0.0 | 0.0 | (0.0) | |
Net Cash Used In Financing | (188.8) | (211.2) | (205.9) | (167.3) | |
| |||||
Net Change in Cash | (0.0) | 0.0 | 0.0 | 0.0 |