EX-99 5 fe_exh1-2.txt EXHIBIT 1-2 Exhibit 1-2 FIRSTENERGY FACILITIES SERVICES GROUP, LLC Consolidated Balance Sheet (Unaudited) December 31, 2002 ------------------------------------------ (In Thousands) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 23,818 Receivables: Customers - Associated companies 1,430 Other 130,658 Notes receivable from associated companies - Material and supplies 8,137 Prepayments and other 2,681 ------- 166,724 ------- INVESTMENTS: Nonutility property, net 35,631 Other 4,685 ------- 40,316 ------- DEFERRED CHARGES: Goodwill 196,490 Accumulated deferred income taxes assets - Other - ------- 196,490 ------- TOTAL ASSETS $403,530 ======= LIABILITIES & STOCKHOLDER'S EQUITY CURRENT LIABILITIES: Currently payable long-term debt $ 1,057 Short-term borrowings 500 Notes payable to associated companies 24,712 Accounts payable Other 57,938 Associated companies (657) Accrued taxes 4,557 Accrued interest - Other 24,283 ------- 112,390 ------- CAPITALIZATION: Common stockholders' equity 268,289 Long-term debt 12,148 ------- 280,437 ------- DEFERRED CREDITS: Accumulated deferred income taxes 3,528 Other 7,175 ------- 10,703 ------- TOTAL LIABILITIES & CAPITALIZATION $403,530 ======= Exhibit 1-2 FIRSTENERGY FACILITIES SERVICES GROUP, LLC Consolidated Statement of Income (Unaudited) -------------------------------------------- (In Thousands) Three Months Twelve Months Ended Ended Dec 31,2002 Dec 31, 2002 ------------ ------------- REVENUES $131,279 $532,513 Direct costs of revenue 112,675 458,325 ------- ------- Gross profit 18,604 74,188 Selling, general and administrative expenses 14,228 57,494 Depreciation 1,755 6,876 Accrual for loss contracts - 2,400 ------- ------- Operating income before goodwill and purchase agreement incentive plans 2,621 7,418 Purchase agreement incentive plans 643 1,471 ------- ------- Operating income 1,978 5,947 Interest income 307 1,290 Interest expense (494) (2,521) Gain/(loss) on sale of fixed assets 65 (214) Other income 213 724 ------- ------- Total other income/(expense) 91 (721) ------- ------- Income before income taxes 2,069 5,226 Provision for income taxes (41) 2,553 ------- ------- Net income $ 2,110 2,673 ======= =======