EX-99.2 3 nstar8kexh992012606.htm NSTAR FORM 8K EXHIBIT 99.2 NSTAR Form 8K Exhibit 99.2

Exhibit 99.2

 

NSTAR

Condensed Consolidated Statements of Income

 

 

 

 

Three Months Ended

 

 

Years Ended

 

(in millions, except earnings per share)

 

 

December 31,

 

 

December 31,

 

 

 

 

(unaudited)

 

 

 

 

(unaudited)

 

 

 

 

 

 

        2005

 

 

      2004

 

 

      2005

 

 

      2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

       812.6

 

$

     713.1

 

$

  3,243.1

 

$

 2,954.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

   Purchased power, cost of gas and demand-side

 

 

 

 

 

 

 

 

 

 

 

 

 

      management and renewable energy programs

 

 

491.4

 

 

428.7

 

 

1,885.2

 

 

1,728.4

 

   Operations and maintenance

 

 

116.4

 

 

108.5

 

 

452.6

 

 

421.4

 

   Depreciation and amortization

 

 

87.4

 

 

62.2

 

 

336.6

 

 

254.8

 

   Taxes

 

 

         43.5

 

 

       37.6

 

 

     213.1

 

 

     211.4

 

      Total operating expenses

 

 

       738.7

 

 

     637.0

 

 

  2,887.5

 

 

  2,616.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

 

         73.9

 

 

       76.1

 

 

     355.6

 

 

    338.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financing costs and other income and

 

 

 

 

 

 

 

 

 

 

 

 

 

   deductions, net

 

 

       (35.2

)

 

      (38.1

)

 

    (159.5

)

 

   (149.8

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

38.7
=====

 

$

38.0
=====

 

$

196.1
====

 

$

188.5
=====

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

   Basic

 

$

0.36

 

$

0.36

 

$

1.84

 

$

1.77

 

   Diluted

 

$

0.36

 

$

0.35

 

$

1.83

 

$

1.76

 

 

 

NSTAR

Condensed Consolidated Balance Sheets

 

 

 

 

December 31,

(in millions)

 

 

(unaudited)

   

 

 

 

 

 

      2005

   

 

      2004

Assets

 

 

 

   

 

 

   Property, plant and equipment, net

 

$

3,840.6

   

$

3,580.0

   Investments

 

 

77.1

   

 

73.0

   Current assets

 

 

1,023.9

   

 

797.8

   Regulatory assets

 

 

2,278.3

   

 

2,555.4

   Other deferred debits

 

 

        425.7

   

 

        385.2

      Total assets

 

$

7,645.6
=======

   

$

7,391.4
=======

 

 

 

 

   

 

 

Capitalization and Liabilities

 

 

 

   

 

 

   Common equity

 

$

1,535.0

   

$

1,440.9

   Long-term debt and preferred stock

 

 

2,445.4

   

 

2,144.4

   Current liabilities

 

 

1,223.2

   

 

961.1

   Deferred taxes and unamortized investment tax credits

 

 

1,269.6

   

 

1,114.6

   Other deferred credits

 

 

    1,172.4

   

 

     1,730.4

       Total capitalization and liabilities

 

$

7,645.6
=======

   

$

7,391.4
=======

 

 

 

 

   

 

 

 

 

 


 

NSTAR

Energy Sales - Periods Ended December 31,

 

Retail Electric Sales - gWh

 

 

 

Three Months

 

%

 

 

Twelve Months

 

%

 

 

 

2005

 

2004

 

Change

 

 

2005

 

2004

 

Change

 

Residential

 

1,613

 

1,604

 

0.6

%

 

6,774

 

6,565

 

3.2

%

Commercial

 

3,139

 

3,031

 

3.6

%

 

13,118

 

12,693

 

3.3

%

Industrial and other

 

      435

 

     444

 

(2.0

)%

 

    1,790

 

    1,820

 

(1.6

)%

     Total

 

5,187
=====

 

5,079
====

 

2.1

%

 

21,682
=====

 

21,078
=====

 

2.9

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Firm Gas Sales and Transportation - BBTU

 

 

 

Three Months

 

%

 

 

Twelve Months

 

%

 

 

 

2005

 

2004

 

Change

 

 

2005

 

2004

 

Change

 

Residential

 

6,579

 

7,016

 

(6.2

)%

 

21,974

 

23,073

 

(4.8

)%

Commercial

 

4,375

 

4,580

 

(4.5

)%

 

15,416

 

15,692

 

(1.8

)%

Industrial and other

 

   2,265

 

    2,303

 

(1.7

)%

 

     8,115

 

    8,202

 

(1.1

)%

     Total

 

13,219

=====

 

13,899
=====

 

(4.9

)%

 

45,505
=====

 

46,967
=====

 

(3.1

)%