EX-99 2 ex-a.htm OHIO EDISON CONSOLIDATED BALANCE SHEETS AND INCOME STATEMENT Ohio Edison Consolidated Balance Sheets and Income Statement

Exhibit A
 
Page 1 of 3
 
   
OHIO EDISON COMPANY
 
Consolidated Balance Sheet (Unaudited)
 
                       As of June 30, 2005                    
 
(In thousands $)
 
       
       
ASSETS
     
       
UTILITY PLANT:
     
In service
 
$
5,553,362
 
Less—Accumulated provision for depreciation
   
2,770,924
 
     
2,782,438
 
Construction work in progress
   
226,124
 
     
3,008,562
 
         
INVESTMENTS:
       
Investment in lease obligation bonds
   
341,582
 
Nuclear plant decommissioning trusts
   
447,649
 
Long-term notes receivable from associated companies
   
207,430
 
Other
   
45,394
 
     
1,042,055
 
         
CURRENT ASSETS:
       
Cash and cash equivalents
   
1,283
 
Receivables -
       
   Customers
   
282,283
 
   Associated companies
   
167,260
 
   Other
   
10,549
 
Notes receivable from associated companies
   
598,151
 
Material and supplies
   
108,221
 
Prepayments and other
   
20,324
 
     
1,188,071
 
         
DEFERRED CHARGES:
       
Regulatory assets
   
935,223
 
Property taxes
   
61,419
 
Unamortized sale and leaseback costs
   
57,670
 
Other
   
67,867
 
     
1,122,179
 
         
TOTAL ASSETS
 
$
6,360,867
 




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Exhibit A
 
Page 2 of 3
 
   
OHIO EDISON COMPANY
 
Consolidated Balance Sheet (Unaudited)
 
                    As of June 30, 2005                   
 
(In thousands $)
 
       
       
LIABILITIES AND CAPITALIZATION
     
       
CAPITALIZATION:
     
Common stockholder's equity
 
$
2,409,698
 
Preferred stock not subject to mandatory redemption
   
60,965
 
Preferred stock of consolidated subsidiary not
       
   subject to mandatory redemption
   
14,105
 
Long-term debt and other long-term obligations
   
1,104,584
 
     
3,589,352
 
         
CURRENT LIABILITIES:
       
Currently payable long-term debt
   
289,215
 
Short-term borrowings -
       
   Associated companies
   
82,389
 
   Other
   
143,912
 
Accounts payable -
       
   Associated companies
   
100,452
 
   Other
   
12,824
 
Accrued taxes
   
172,478
 
Accrued interest
   
11,201
 
Other
   
73,344
 
     
885,815
 
         
NONCURRENT LIABILITIES:
       
Accumulated deferred income taxes
   
724,040
 
Accumulated deferred investment tax credits
   
55,800
 
Asset retirement obligation
   
350,387
 
Retirement benefits
   
314,543
 
Other
   
440,930
 
     
1,885,700
 
         
TOTAL LIABILITIES AND CAPITALIZATION
 
$
6,360,867
 
         





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Exhibit A
 
Page 3 of 3
 
   
OHIO EDISON COMPANY
 
Consolidated Income Statement (Unaudited)
 
For the Twelve Months Ended June 30, 2005
 
(In thousands $)
 
       
       
       
OPERATING REVENUES
 
$
2,926,911
 
         
OPERATING EXPENSES AND TAXES:
       
Fuel
   
51,568
 
Purchased power
   
957,060
 
Nuclear operating costs
   
409,536
 
Other operating expenses
   
338,383
 
Provision for depreciation
   
119,975
 
Amortization of regulatory assets
   
418,948
 
Deferral of new regulatory assets
   
(120,392
)
General taxes
   
186,590
 
Income taxes
   
275,917
 
   Total operating expenses and taxes
   
2,637,585
 
         
OPERATING INCOME
   
289,326
 
         
OTHER INCOME (net of income taxes)
   
58,216
 
         
NET INTEREST CHARGES:
       
Interest on long-term debt
   
57,822
 
Allowance for borrowed funds used during construction and capitalized interest
   
(9,478
)
Other interest expense
   
13,354
 
Subsidiary’s preferred stock dividends
   
2,658
 
   Net interest charges
   
64,356
 
         
NET INCOME
   
283,186
 
         
PREFERRED STOCK DIVIDEND REQUIREMENTS
   
2,599
 
         
EARNINGS ON COMMON STOCK
 
$
280,587
 
         
         

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