EX-99.5 6 0006.txt EXHIBIT FS-5 CON
Exhibit FS-5 CON CONECTIV AND SUBSIDIARIES ACTUAL CONSOLIDATED STATEMENT OF INCOME FOR THE TWELVE MONTHS ENDED SEPTEMBER 30, 2000 (Dollars in Thousands) (Unaudited) Actual ----------------- OPERATING REVENUES Electric $ 2,777,571 Gas 1,303,501 Other services 583,625 ----------------- 4,664,697 ----------------- OPERATING EXPENSES Electric fuel and purchased energy and capacity 1,494,353 Gas purchased 1,232,668 Other services' cost of sales 488,301 Special charges 25,162 Operation and maintenance 654,528 Depreciation and amortization 260,982 Taxes other than income taxes 89,340 ----------------- 4,245,334 ----------------- OPERATING INCOME 419,363 ----------------- OTHER INCOME 90,181 ----------------- INTEREST EXPENSE Interest charges 219,040 Allowance for borrowed funds used during construction and capitalized interest (8,498) ----------------- 210,542 ----------------- PREFERRED STOCK DIVIDEND REQUIREMENTS OF SUBSIDIARIES 20,319 ----------------- INCOME BEFORE INCOME TAXES AND EXTRAORDINARY ITEM 278,683 INCOME TAXES, EXCLUDING INCOME TAXES APPLICABLE TO EXTRAORDINARY ITEM 124,884 ----------------- INCOME BEFORE EXTRAORDINARY ITEM 153,799 EXTRAORDINARY ITEM (Net of $28,061 of income taxes) (40,612) ----------------- NET INCOME $ 113,187 ================= (Continued on next page) Exhibit FS-5 CON CONECTIV AND SUBSIDIARIES ACTUAL CONSOLIDATED STATEMENT OF INCOME FOR THE TWELVE MONTHS ENDED SEPTEMBER 30, 2000 (Dollars in Thousands) (Unaudited) (Continued from previous page) Actual ----------------- EARNINGS (LOSS) APPLICABLE TO: Common stock Income before extraordinary item $ 152,240 Extraordinary item, net of income taxes (29,108) ----------------- Total $ 123,132 ================= Class A common stock Income before extraordinary item $ 1,559 Extraordinary item, net of income taxes (11,504) ----------------- Total $ (9,945) ================= AVERAGE SHARES OUTSTANDING (000) Common stock 84,741 Class A common stock 5,742 EARNINGS (LOSS) PER AVERAGE SHARE--basic and diluted Common stock Before extraordinary item $ 1.79 Extraordinary item (0.34) ----------------- Total $ 1.45 ================= Class A common stock Before extraordinary item $ 0.27 Extraordinary item (2.00) ----------------- Total $ (1.73) ================= DIVIDENDS DECLARED PER SHARE Common stock $ 0.880 Class A common stock $ 3.200 See accompanying Notes to Consolidated Financial Statements on FS-8.