EX-99.05 7 x15682exv99w05.htm EX-99.05: PRO FORMA PRESENTATION OF THE STATEMENT OF OPERATION EX-99.05
 

Exhibit 99.05
Pro Forma presentation of the Statement of Operation for Reorganized NRG Energy, Inc.’s for the period December 6, 2003 through December 31, 2003 to reflect the reclassification for discontinued operations of Audrain
     On December 8, 2005 NRG entered into an Asset Purchase and Sale Agreement to sell all the assets of NRG Audrain Generating LLC, or Audrain, to AmerenUE, a subsidiary of Ameren Corporation. The purchase price is $115 million, subject to customary purchase price adjustments. The transaction is expected to close during the first half of 2006. The sale is subject to customary approvals, including Federal Energy Regulatory Commission, Missouri Public Utilities Commission, Illinois Commerce Commission, and Hart-Scott-Rodino review. We expect to record a gain of approximately $15 million at closing.
     Due to the fact that the SEC prohibits the filing of an amended Form 10-K for discontinued operations that occur after the date of the latest Form 10-Q, it is necessary to reflect the discontinued operations activity for the relevant periods within this current report on Form 8-K. As such, we have filed this exhibit 99.05.
                         
    Reorganized  
    Period from December 6 through December 31, 2003  
            Pro Forma        
    Historical     Adjustments     Pro forma  
    NRG Energy,             NRG Energy,  
    Inc.     Audrain     Inc.  
Operating Revenues
                        
 
                        
Revenues from majority-owned operations
   $ 138,490       —     $ 138,490  
Operating Costs and Expenses
                        
Cost of majority-owned operations
     95,541       (56 )     95,485  
Depreciation and amortization
     11,808       —       11,808  
General, administrative and development
     12,518       (15 )     12,503  
Other charges (credits)
                        
Restructuring and impairment charges
     2,461       —       2,461  
 
                  
Total operating costs and expenses
     122,328       (71 )     122,257  
 
                  
Operating Income
     16,162       71       16,233  
Other Income (Expense)
                        
Minority interest in earnings of consolidated subsidiaries
     (134 )     —       (134 )
Equity in earnings of unconsolidated affiliates
     13,521       —       13,521  
Other income, net
     97       47       144  
Interest expense
     (18,902 )     —       (18,902 )
 
                  
Total other expense
     (5,418 )     47       (5,371 )
 
                  
Income From Continuing Operations Before Income Taxes
     10,744       118       10,862  
Income Tax Expense
     (661 )     —       (661 )
 
                  
Income From Continuing Operations
     11,405       118       11,523  
Loss on Discontinued Operations, net of income taxes
     (380 )     (118 )     (498 )
 
                  
Net Income/(Loss)
   $ 11,025     $ —     $ 11,025  
 
                  
Weighted average number of common shares outstanding
                        
Basic
    100,000               100,000  
Income From Continuing Operations per weighted average common share — Basic
   $ 0.11             $ 0.11  
Income From Discontinued Operations per weighted average common share — Basic
     —               —  
Net income per weighted average common share — Basic
   $ 0.11             $ 0.11  
Weighted average number of common shares outstanding
                        
Diluted
    100,060               100,060  
Income From Continuing Operations per weighted average common share — Diluted
   $ 0.11             $ 0.11  
Income From Discontinued Operations per weighted average common share — Diluted
     —               —  
Net income per weighted average common shares — Diluted
   $ 0.11             $ 0.11