EX-99.2 3 0003.txt EXHIBIT FS-2 DPL
Exhibit FS-2 DPL DELMARVA POWER & LIGHT COMPANY ACTUAL AND PRO FORMA CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2000 (Dollars in Thousands) (Unaudited) Pro Forma Actual Adjustments Pro Forma ------------- --------------- -------------- ASSETS Current Assets Cash and cash equivalents $ 10,342 $ 5,715 $ 16,057 Accounts receivable net of allowance - for doubtful accounts of $8,785 331,810 331,810 Intercompany loan receivable 74,128 74,128 Inventories, at average cost Fuel (coal, oil and gas) 26,719 26,719 Materials and supplies 24,149 (286) 23,863 Prepayments 21,099 (113) 20,986 Deferred energy supply costs 2,480 2,480 Deferred income taxes, net 7,856 7,856 ------------- --------------- -------------- 498,583 5,316 503,899 ------------- --------------- -------------- Investments 78,660 (27,902) 50,758 ------------- --------------- -------------- Property, Plant and Equipment Electric generation 631,625 (4,848) 626,777 Electric transmission and distribution 1,434,593 1,434,593 Gas transmission and distribution 269,245 269,245 Other electric and gas facilities 185,421 185,421 Other property, plant, and equipment 12,526 12,526 ------------- --------------- -------------- 2,533,410 (4,848) 2,528,562 Less: Accumulated depreciation 1,154,803 (28,642) 1,126,161 ------------- --------------- -------------- Net plant in service 1,378,607 23,794 1,402,401 Construction work-in-progress 79,758 (4,348) 75,410 Leased nuclear fuel, at amortized cost 25,476 (13,708) 11,768 Goodwill, net 68,441 68,441 ------------- --------------- -------------- 1,552,282 5,738 1,558,020 ------------- --------------- -------------- Deferred Charges and Other Assets Recoverable stranded costs, net 32,965 32,965 Deferred recoverable income taxes 68,843 68,843 Prepaid employee benefits costs 159,678 159,678 Unamortized debt expense 10,864 10,864 Deferred debt refinancing costs 8,565 8,565 Other 21,909 21,909 ------------- --------------- -------------- 302,824 - 302,824 ------------- --------------- -------------- Total Assets $2,432,349 ($16,848) $2,415,501 ============= =============== ============== See accompanying Notes to Consolidated Financial Statements on FS-8.
Exhibit FS-2 DPL DELMARVA POWER & LIGHT COMPANY ACTUAL AND PRO FORMA CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2000 (Dollars in Thousands) (Unaudited) Pro Forma Actual Adjustments Pro Forma ------------- --------------- -------------- CAPITALIZATION AND LIABILITIES Current Liabilities Long-term debt due within one year $ 1,753 $ 1,753 Variable rate demand bonds 104,830 104,830 Accounts payable 195,295 195,295 Taxes accrued 56,022 $ (8,444) 47,578 Interest accrued 23,352 23,352 Dividends payable 6,134 6,134 Current capital lease obligation 12,507 (6,854) 5,653 Above-market purchased energy contracts and other electric restructuring liabilities 25,313 (3,676) 21,637 Other 31,972 (800) 31,172 ------------- --------------- -------------- 457,178 (19,774) 437,404 ------------- --------------- -------------- Deferred Credits and Other Liabilities Deferred income taxes, net 297,490 9,643 307,133 Deferred investment tax credits 24,981 (1,300) 23,681 Long-term capital lease obligation 13,977 (6,854) 7,123 Above-market purchased energy contracts and other electric restructuring liabilities 92,220 92,220 Other 23,694 (1,700) 21,994 ------------- --------------- -------------- 452,362 (211) 452,151 ------------- --------------- -------------- Capitalization Common stock: $2.25 par value; 1,000,000 shares authorized; 1,000 shares outstanding 2 2 actual and pro forma Additional paid-in capital 212,612 212,612 Retained earnings 227,954 3,137 231,091 ------------- --------------- -------------- Total common stockholders' equity 440,568 3,137 443,705 Preferred stock not subject to mandatory redemption 89,703 89,703 Preferred securities of subsidiary trust subject to mandatory redemption 70,000 70,000 Long-term debt 922,538 922,538 ------------- -------------- -------------- 1,522,809 3,137 1,525,946 ------------- -------------- ------------- ------------- -------------- -------------- Total Capitalization and Liabilities $2,432,349 ($16,848) $ 2,415,501 ============= =============== ============== See accompanying Notes to Consolidated Financial Statements on FS-8.