EX-99.2 3 nstar8kexh992072805.htm NSTAR FORM 8-K EXHIBIT 99.2 NSTAR Form 8-K Exhibit 99.2

Exhibit 99.2

NSTAR
Condensed Consolidated Statements of Income (Unaudited)

 

 

 

Three Months Ended

 

(in millions)

 

 

          June 30,         

 

 

 

 

2005

    

 

2004

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

         692.0

 

$

        649.8

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

   Purchased power, cost of gas and demand

 

 

 

 

 

 

 

      side management

 

 

373.2

 

 

362.3

 

   Operations and maintenance

 

 

111.3

 

 

103.2

 

   Depreciation and amortization

 

 

84.9

 

 

61.1

 

   Taxes

 

 

           46.5

 

 

          49.8

 

      Total operating expenses

 

 

         615.9

   

 

        576.4

 

 

 

 

 

 

 

 

 

Operating income

 

 

76.1

 

 

73.4

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

   Interest charges

 

 

(43.4

)   

 

(38.3

)

   Other income, net

 

 

            1.0

   

 

            2.9

 

 

 

 

 

 

 

 

 

Preferred dividends of subsidiary

 

 

            0.5

    

 

            0.5

 

Net income

 

$

33.2
=======

    

$

37.5
=======

 

 

NSTAR
Condensed Consolidated Balance Sheets (Unaudited)

(in millions)

 

 

June 30,

   

 

December 31,

 

 

 

2005

   

 

2004

Assets

 

 

 

   

 

 

   Property, plant and equipment, net

 

$

3,675.9

   

$

3,580.0

   Investments

 

 

75.3

   

 

73.0

   Goodwill

 

 

420.7

 

 

426.9

   Current assets

 

 

1,033.2

   

 

777.7

   Regulatory assets

 

 

1,751.0

   

 

1,876.7

   Other deferred debits

 

 

         398.3

   

 

             382.9

      Total assets

 

$

7,354.4
=======

   

$

7,117.2
=========

 

 

 

 

   

 

 

 

 

 

 

   

 

 

Capitalization and Liabilities

 

 

 

   

 

 

   Common equity

 

$

1,455.2

   

$

1,440.9

   Long-term debt and preferred stock

 

 

2,545.9

   

 

2,144.4

   Current liabilities

 

 

1,109.6

   

 

961.1

   Deferred taxes and unamortized investment tax credits

 

 

1,036.5

   

 

840.5

   Other deferred credits

 

 

      1,207.2

   

 

          1,730.3

       Total capitalization and liabilities

 

$

7,354.4
=======

   

$

7,117.2
=========

 

 

 

 

   

 

 

 


 

NSTAR
Energy Sales - Three Month Periods Ended June 30,

Retail Electric Sales - gWh

 

 

 

 

%

 

 

2005

 

2004

 

Change

Residential

 

1,489

 

1,480

 

0.6

%

Commercial

 

3,075

 

3,098

 

(0.7

)%

Industrial and other

 

      442

 

       457

 

(3.3

)%

     Total

 

5,006
=====

 

5,035
=====

 

(0.6

)%

 

 

 

 

 

 

 

 

 

 

 

Firm Gas Sales and Transportation - BBTU

 

 

 

 

%

 

 

2005

 

2004

 

Change

Residential

 

3,135

 

2,905

 

7.9

%

Commercial and other

 

3,037

 

2,801

 

8.4

%

Industrial

 

   1,136

 

   1,185

 

(4.1

)%

     Total

 

7,308
=====

 

6,891
=====

 

6.1

%