EX-99 19 fs_15.txt EX. FS-15 - FIRSTENERGY BALANCE SHEET FIRSTENERGY CORP. PRO FORMA BALANCE SHEETS AS OF JUNE 30, 2005
Non-nuclear As Reported Adjustments Pro Forma ----------- ----------- --------- (In thousands) ASSETS OTHER PROPERTY AND INVESTMENTS: Long-term notes receivable from associated companies $ 32,259 $ - $ 32,259 Investments in subsidiaries 11,995,203 11,995,203 Other 116,450 116,450 ------------- ------------- ------------- 12,143,912 - 12,143,912 ------------- ------------- ------------- CURRENT ASSETS: Cash and cash equivalents 100 100 Notes receivable from associated companies 1,003,534 1,003,534 Receivables- Associated companies 6,203 6,203 Other 16,328 16,328 Prepayments and other 35,392 35,392 ------------- ------------- ------------- 1,061,557 - 1,061,557 ------------- ------------- ------------- DEFERRED CHARGES: Accum. Deferred income taxes 50,663 50,663 Other 57,491 57,491 ------------- ------------- ------------- 108,154 - 108,154 ------------- ------------- ------------- $ 13,313,623 $ - $ 13,313,623 ============= ============= ============= CAPITALIZATION AND LIABILITIES CAPITALIZATION: Common stockholder's equity- Common stock $ 32,984 $ - $ 32,984 Other paid-in capital 7,047,470 7,047,470 Accumulated other comprehensive loss (330,028) (330,028) Retained earnings 1,914,023 1,914,023 Unallocated ESOP common shares (34,126) (34,126) ------------- ------------- ------------- Total common stockholder's equity 8,630,323 - 8,630,323 Long-term debt 4,046,827 4,046,827 ------------- ------------- ------------- 12,677,150 - 12,677,150 ------------- ------------- ------------- CURRENT LIABILITIES: Currently payable long-term debt 300,000 300,000 Short-term borrowings- Associated companies Other Accounts payable- Associated companies 70,014 70,014 Other Notes payable- Associated companies Other 41,000 41,000 Accrued taxes 14,004 14,004 Accrued interest 36,145 36,145 Other 136,922 136,922 ------------- ------------- ------------- 598,085 - 598,085 ------------- ------------- ------------- NONCURRENT LIABILITIES: Accumulated deferred income taxes Accumulated deferred investment tax credits Asset retirement obligation Retirement benefits 10,548 10,548 Other 27,840 27,840 ------------- ------------- ------------- 38,388 - 38,388 ------------- ------------- ------------- COMMITMENTS AND CONTINGENCIES ------------- ------------- ------------- $ 13,313,623 $ - $ 13,313,623 ============= ============= =============
COMBINED EXPLANATORY NOTES FOR THE PRO FORMA OPERATING COMPANY BALANCE SHEETS a. The transfer of non-nuclear generation plant in service to FGCO. b. The transfer of the accumulated provision for depreciation on non-nuclear plant in service to FGCO. c. The transfer of non-nuclear plant construction work in progress to FGCO. d. The establishment of an associated company note receivable as consideration for the purchased assets and assumption of liabilities. e. The transfer of other property and investments related to non-nuclear plant assets to FGCO. f. The transfer of working cash funds used for expense advances at certain non-nuclear generation facilities to FGCO. g. The transfer of materials and supplies for non-nuclear generation plant to FGCO. h. The transfer of deferred property tax charges for non-nuclear generation plant to FGCO. i. The transfer of other work in progress for non-nuclear generation plant to FGCO. j. To record in other paid-in capital the difference between the net book value and the purchase price, pursuant to the purchase option in the Master Lease, for the non-nuclear generation assets. k. The transfer of accumulated deferred income taxes for non-nuclear generation plant to FGCO. l. The transfer of accumulated deferred investment tax credits for non-nuclear generation plant to FGCO. m. The transfer of asset retirement obligations related to the non-nuclear generation plants to FGCO. n. The transfer of deferred property taxes and accumulated deferred investment tax credits for non-nuclear generation plant to FGCO. o. The establishment of notes payable to associated companies to reflect the net liabilities transferred to FGCO.