EX-99.1 3 ex991selectedfinancialdata.htm EXHIBIT 99.1 Exhibit
Exhibit 99.1

Presented in this exhibit is "Item 6. Selected Financial Data" for both WGL and Washington Gas, which is recast from the combined annual report on Form 10-K of WGL Holdings, Inc. and Washington Gas Light Company for the fiscal year ended September 30, 2015 (2015 Form 10-K) to give effect to the balance sheet reclassifications of deferred taxes for all periods presented as a result of the retrospective adoption of ASU 2015-17 in the first quarter of fiscal year 2016.

This exhibit does not reflect events occurring after the filing of the 2015 Form 10-K, and does not modify or update the disclosures therein in any way, other than as described above.
ITEM 6. SELECTED FINANCIAL DATA-WGL Holdings, Inc.
 
The following table presents selected financial data for WGL derived from our financial statements as of and for the last five fiscal years. The information should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in the 2015 Form 10-K and the audited Consolidated Financial Statements and the Notes to the Consolidated Financial Statements attached as Exhibit 99.2 to the current report on Form 8-K filed on the date hereof.
 
(In thousands, except per share data)
  
 
  
 
  
 
  
 
  
Years Ended September 30,
2015
 
2014
 
2013
 
2012
 
2011
SUMMARY OF EARNINGS
 
 
 
 
 
 
 
 
 
Operating Revenues
 
 
 
 
 
 
 
 
 
Utility
$
1,303,044

 
$
1,416,951

 
$
1,174,724

 
$
1,109,355

 
$
1,264,580

Non-utility
1,356,786

 
1,363,996

 
1,291,414

 
1,315,955

 
1,486,921

Total operating revenues
$
2,659,830

 
$
2,780,947

 
$
2,466,138

 
$
2,425,310

 
$
2,751,501

Income from continuing operations
$
131,259

 
$
105,940

 
$
80,253

 
$
139,818

 
$
117,050

COMMON STOCK DATA
 
 
 
 
 
 
 
 
 
Earnings per average share:
 
 
 
 
 
 
 
 
 
Basic
$
2.64

 
$
2.05

 
$
1.55

 
$
2.71

 
$
2.29

Diluted
$
2.62

 
$
2.05

 
$
1.55

 
$
2.71

 
$
2.28

Dividends declared per share
$
1.8275

 
$
1.7400

 
$
1.6600

 
$
1.5875

 
$
1.5400

Shares outstanding—year end (thousands)
49,729

 
50,657

 
51,774

 
51,612

 
51,365

CAPITALIZATION-YEAR END
 
 
 
 
 
 
 
 
 
Common shareholders’ equity
$
1,243,247

 
$
1,246,576

 
$
1,274,545

 
$
1,269,556

 
$
1,202,715

Washington Gas Light Company preferred stock
28,173

 
28,173

 
28,173

 
28,173

 
28,173

Long-term debt, excluding current maturities
944,201

 
679,228

 
524,067

 
589,202

 
587,213

Total capitalization
$
2,215,621

 
$
1,953,977

 
$
1,826,785

 
$
1,886,931

 
$
1,818,101

OTHER FINANCIAL DATA
 
 
 
 
 
 
 
 
 
Property, plant and equipment-net—year-end
$
3,672,728

 
$
3,314,445

 
$
2,907,463

 
$
2,667,413

 
$
2,489,901

Total assets—year-end
$
5,261,359

 
$
4,829,835

 
$
4,235,538

 
$
4,098,543

 
$
3,790,218




ITEM 6. SELECTED FINANCIAL DATA-Washington Gas Light Company
 
The following table presents selected financial data for Washington Gas derived from the financial statements as of and for the last five fiscal years. The information should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in the 2015 Form 10-K and the audited Consolidated Financial Statements and the Notes to the Consolidated Financial Statements attached as Exhibit 99.2 to the current report on Form 8-K filed on the date hereof.
 
(In thousands, except per share data)
 
 
 
 
 
 
 
 
 
Years Ended September 30,
2015
 
2014
 
2013
 
2012
 
2011
SUMMARY OF EARNINGS
 
 
 
 
 
 
 
 
 
Operating Revenues
 
 
 
 
 
 
 
 
 
Utility
$
1,328,191

 
$
1,443,800

 
$
1,200,357

 
$
1,137,666

 
$
1,288,539

Non-utility
—

 
—

 
—

 
—

 
—

Total operating revenues
$
1,328,191

 
$
1,443,800

 
$
1,200,357

 
$
1,137,666

 
$
1,288,539

Income from continuing operations
$
107,358

 
$
97,004

 
$
71,002

 
$
108,726

 
$
68,270

CAPITALIZATION-YEAR END
 
 
 
 
 
 
 
 
 
Common shareholder’s equity
$
1,081,292

 
$
1,050,166

 
$
1,024,583

 
$
1,025,743

 
$
990,135

Preferred stock
28,173

 
28,173

 
28,173

 
28,173

 
28,173

Long-term debt, excluding current maturities
695,885

 
679,228

 
524,067

 
589,202

 
587,213

Total capitalization
$
1,805,350

 
$
1,757,567

 
$
1,576,823

 
$
1,643,118

 
$
1,605,521

OTHER FINANCIAL DATA
 
 
 
 
 
 
 
 
 
Property, plant and equipment-net—year-end
$
3,243,446

 
$
3,022,064

 
$
2,724,882

 
$
2,574,396

 
$
2,448,574

Total assets—year-end
$
4,204,132

 
$
3,942,162

 
$
3,447,389

 
$
3,488,849

 
$
3,363,300

UTILITY GAS SALES AND DELIVERIES 
(thousands of therms)
 
 
 
 
 
 
 
 
 
Gas sold and delivered
 
 
 
 
 
 
 
 
 
Residential firm
734,874

 
738,963

 
660,424

 
540,206

 
677,558

Commercial and industrial
 
 
 
 
 
 
 
 
 
Firm
197,543

 
200,153

 
180,942

 
149,515

 
179,207

Interruptible
2,072

 
2,193

 
2,897

 
2,042

 
2,573

Total gas sold and delivered
934,489

 
941,309

 
844,263

 
691,763

 
859,338

Gas delivered for others
 
 
 
 
 
 
 
 
 
Firm
558,125

 
535,503

 
488,182

 
436,698

 
501,187

Interruptible
260,264

 
267,705

 
270,884

 
243,031

 
271,421

Electric generation
179,061

 
144,403

 
177,533

 
343,315

 
140,557

Total gas delivered for others
997,450

 
947,611

 
936,599

 
1,023,044

 
913,165

Total utility gas sales and deliveries
1,931,939

 
1,888,920

 
1,780,862

 
1,714,807

 
1,772,503

OTHER STATISTICS
 
 
 
 
 
 
 
 
 
Active customer meters—year-end
1,129,865

 
1,117,043

 
1,105,123

 
1,094,109

 
1,082,983

New customer meters added
12,099

 
13,327

 
12,468

 
11,250

 
9,868

Heating degree days—actual
3,929

 
4,111

 
3,769

 
3,036

 
3,999

Weather percent colder (warmer) than normal
4.6
%
 
9.6
%
 
(0.2
)%
 
(20.1
)%
 
6.1
%