-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LExfHZIwM3sNa2BNj0mVoUCLZpN780VMY5HrB2+tqUv/8D7lPw8R3kC99tva4zQW GcVJAh5zn/c2RmPPSHjErQ== 0000950110-96-000165.txt : 19960304 0000950110-96-000165.hdr.sgml : 19960304 ACCESSION NUMBER: 0000950110-96-000165 CONFORMED SUBMISSION TYPE: U-3A-2 PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19951231 FILED AS OF DATE: 19960301 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEW JERSEY RESOURCES CORP CENTRAL INDEX KEY: 0000356309 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 222376465 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: U-3A-2 SEC ACT: 1935 Act SEC FILE NUMBER: 069-00265 FILM NUMBER: 96529609 BUSINESS ADDRESS: STREET 1: 1415 WYCKOFF ROAD STREET 2: PO BOX 1468 CITY: WALL STATE: NJ ZIP: 07719 BUSINESS PHONE: 9089381494 MAIL ADDRESS: STREET 1: 1350 CAMPUS PKWY STREET 2: P O BOX 1468 CITY: WALL STATE: NJ ZIP: 07719 U-3A-2 1 U-3A-2 FILE NO. 69-265 SECURITIES AND EXCHANGE COMMISSION Washington, DC FORM U-3A-2 Statement by Holding Company Claiming Continued Exemption Under Rule U-3A-2 from the Provisions of the Public Utility Holding Company Act of 1935 NEW JERSEY RESOURCES CORPORATION For the Calendar Year Ending December 31, 1995 New Jersey Resources Corporation (the "Company") hereby files with the Securities and Exchange Commission, pursuant to Rule 2, its statement claiming continued exemption as a holding company from the provisions of the Public Utility Holding Company Act of 1935, and submits the following information: 1. The Company is a New Jersey corporation, located at 1415 Wyckoff Road, Wall, New Jersey. The Company holds 100% of the Common Stock of New Jersey Natural Gas Company ("NJNG"), NJR Energy Services Corporation ("Energy Services") and NJR Development Corporation ("NJRD"), formerly Paradigm Resources Corporation, all of which are organized in the State of New Jersey and are located at 1415 Wyckoff Road, Wall, New Jersey. The Company has no independent business operations, but operates as a holding company of the above, as well as any other subsidiaries that may be formed in the future. Energy Services is a sub-holding company that was formed in June 1995 to better segregate the Company's energy-related operations. Energy Services owns 100% of the common stock of New Jersey Natural Energy Company ("Natural Energy"), and NJR Energy Corporation ("NJRE"). Natural Energy is a New Jersey corporation formed in June 1995 to participate in the unregulated marketing of natural gas and fuel and capacity management services. NJRE is a participant in oil and natural gas development, production, transportation, storage and other energy related ventures in various locations in the United States through its subsidiaries, New Jersey Natural Resources Company ("NJNR"), NJNR Pipeline Company ("Pipeline"), NJR Storage Corporation ("Storage"), Natural Resources Compressor Company ("Compressor") and NJRE Operating Company -2- ("NJRE Operating"). All of the above, except for Storage, are New Jersey corporations and all are located at 100 West Fifth Street, Suite 601, Tulsa, Oklahoma. Storage was organized in the State of Delaware. In May 1995, the Company adopted a plan to exit the oil and natural gas production business and pursue the sale of the reserves and related assets of NJRE and NJNR. The Company has accounted for this segment as a discontinued operation. Between December 1995 and February 1996, NJRE and NJNR sold their interests in all of its oil and gas properties. NJNR is also a participant in a natural gas transportation pipeline joint venture that was constructed to serve the Johnstown, Pennsylvania plant of Bethlehem Steel Corporation. Since Bethlehem discontinued gas purchases from the joint venture on June 1, 1993, field production is currently being sold into the interstate natural gas market. Pipeline is a 2.8% equity participant in the Iroquois Gas Transmission System pipeline that delivers natural gas from the Canadian border to Long Island. Storage is a 5.66% equity participant in the Market Hub Partners, L.P., intended to develop, own and operate a system of five natural gas market centers with high deliverability salt cavern storage facilities in Texas, Louisiana, Mississippi, Michigan and Pennsylvania. Due to the decision to exit the oil and gas business, Compressor and NJRE Operating are no longer active. NJRD, a sub-holding company formed to better segregate the Company's remaining non-regulated subsidiaries, owns 100% of the common stock of the Company's said subsidiaries, including, Paradigm Power, Inc. ("PPI"), NJR Computer Technologies, Inc. ("NJRC") and Commercial Realty & Resources Corp. ("Commercial Realty"). -3- PPI and its subsidiaries, Lighthouse One, Inc, ("LH One") and Lighthouse II, Inc. ("LH-II"), were formed to pursue investment opportunities in natural gas-fueled cogeneration and independent power production projects. PPI is a New Jersey corporation, while LH One and LH II were organized in New York and Delaware, respectively. PPI, LH One and LH II are each located at 1415 Wyckoff Road, Wall, New Jersey. As of December 31, 1995, neither PPI nor either subsidiary had capital invested in any projects. The Company has decided to no longer pursue investments as described above and are treating this segment of the Company as a discontinued operation. NJRC, a New Jersey Corporation, was formed to invest in the marketing of certain computer software systems. Commercial Realty, a New Jersey corporation, is located at 1345 Campus Parkway, Wall, New Jersey. Commercial Realty was formed to develop and own commercial office and mixed-use commercial/industrial real estate projects primarily in Monmouth and Atlantic Counties, New Jersey. Consistent with the Company's previously disclosed strategy to realign its asset base more closely with its core energy business, over 80% (15 out of 17 buildings containing approximately 739,000 square feet of space) of Commercial Realty's office and flex space in business parks in Monmouth & Atlantic Counties, New Jersey was sold. The Company will continue to pursue alternatives for the remaining assets including 215 acres of undeveloped land (of which 181 acres are subject to purchase options). Natural Energy, NJRE, PPI, NJRC and Commercial Realty, and their respective subsidiaries, are material to the Company and are accounted for on a consolidated basis. -4- Only NJNG, a New Jersey corporation whose principal office is located at 1415 Wyckoff Road, Wall, New Jersey, is a public utility. NJNG is engaged in the business of purchasing, distributing and selling natural gas exclusively in the state of New Jersey, other than as described in Section 3(c) of this document, to more than 352,000 residential, commercial and industrial customers throughout most of Monmouth and Ocean counties and parts of Morris and Middlesex counties. The Company and NJNG expect, from time to time, to render each to the other, certain services and to make available the use of certain personnel, facilities and equipment. The company receiving such services or using such facilities and equipment will reimburse the other for the cost thereof, pursuant to certain service agreements approved by the Board of Directors of each company and by the New Jersey Board of Public Utilities. 2. As of December 31, 1995, NJNG owned approximately 3,961 miles of steel, wrought and cast iron distribution mains, and 1,374 miles of plastic distribution main. Additionally, NJNG owned approximately 326 miles of transmission mains in various sizes, approximately 333,374 services and approximately 369,457 meters. NJNG owns and operates two liquefied natural gas storage plants located in Stafford, and Howell Townships, New Jersey. The two plants have an estimated effective capacity of approximately 20,000 and 150,000 Mcf per day, respectively. These production facilities are used for peaking supplies and emergencies. NJNG owns two service centers, one in Atlantic Highlands and the other in Wall, New Jersey and owns combined service center/customer service offices in Lakewood and Rockaway Township, New Jersey. NJNG also owns a storage facility in Long Branch, New -5- Jersey. NJNG leases its headquarters facilities and a customer service office in Wall, New Jersey, a customer service office located in Asbury Park, New Jersey, and a service center in Manahawkin, New Jersey. Each service center houses storerooms, garages, gas distribution and appliance service operations, and small administrative offices. The customer service offices support customer contact, marketing and other functions. NJNG owns and leases certain electronic data processing equipment and owns and leases a fleet of trucks, service vehicles, and automobiles. Substantially all of NJNG properties are subject to the lien of an Indenture of Mortgage and Deed of Trust to Harris Trust and Savings Bank, Chicago, Illinois, dated April 1, 1952, as amended by twenty-six (26) Supplemental Indentures, as security for NJNG's bonded debt which totaled approximately $235,000,000 at December 31, 1995. 3. (a) NJNG distributed at retail approximately 62,784,967 Dry Dths of natural or manufactured natural gas for the calendar year ended December 31, 1995. (b) NJNG did not distribute at retail any natural or manufactured gas outside New Jersey, its state of organization. (c) NJNG sold approximately 25,832,929 Dry Dths of natural gas outside New Jersey to various customers during calendar 1995 under a Blanket Sales for Resale Certificate, issued by the Federal Energy Regulatory Commission. (d) For the calendar year ended December 31, 1995, purchases of natural or manufactured gas by NJNG from sources outside the State of New Jersey amounted to approximately 82,265,574 Dry Dths. -6- 4. (a) Not Applicable. (b) Not Applicable. (c) Not Applicable. (d) Not Applicable. -7- EXHIBIT A There is attached as Exhibit A, Consolidating Income Statement and Consolidating Balance Sheet of the Company and its subsidiary companies for the fiscal year ended September 30, 1995. -8- EXHIBIT B There is attached as Exhibit B, Consolidating Financial Data Schedule for the fiscal year ended September 30, 1995. -9- EXHIBIT C Not Applicable -10- The above-named claimant has caused this statement to be executed on its behalf by its authorized officer on this 27th day of February 1996. New Jersey Resources Corporation By: /s/ LAURENCE M. DOWNES ------------------------------ LAURENCE M. DOWNES President & CEO (Corporate Seal) Attest: /s/ OLETA J. HARDEN - --------------------------------- OLETA J. HARDEN Senior Vice President & Secretary Name, title, and address of officer to whom notices and correspondence concerning this statement should be addressed: Oleta J. Harden, Senior Vice President & Secretary New Jersey Resources Corporation 1415 Wyckoff Road Wall, NJ 07719 -11- EX-27 2 FINANCIAL DATA SCHEDULE
OPUR3 New Jersey Resources Corporation Financial Data Schedule UT For the Fiscal Year Ended September 30, 1995 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM NEW JERSEY RESOURCES CORPORATION'S 1995 ANNUAL REPORT TO STOCKHOLDERS INCLUDING THE CONSOLIDATED STATEMENTS OF INCOME, CONSOLIDATED STATEMENTS OF CASH FLOWS, CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF COMMON STOCK EQUITY AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 YEAR SEP-30-1995 DEC-31-1995 PER-BOOK 826,364 454,593 24,785
EX-99.A 3 CONSOLIDATED INCOME AND BALANCE SHEETS
NEW JERSEY RESOURCES CORPORATION Consolidating Statement of Retained Earnings Fiscal Year Ending September 30, 1995 NJRE CR&R PPI PPI NJR NJNG NJNE Elimination's NJR Consolidated Consolidated --------------------------------------------------------------------------------------------------- Balance at September 30, 1994.... (4,707) 909 1,599 (2,199) 13,003 35,056 (32,867) 12,993 Net Income....................... (10,245) (67) (74) (10,386) 686 33,703 782 0 24,785 Cash Dividends Declared.......... 0 (816) 0 (816) 0 (25,974) 0 0 (26,790) Balance at September 30, 1995.... (14,952) 26 1,525 (13,401) 13,689 42,785 782 (32,867) 10,988
NEW JERSEY RESOURCES CORPORATION 23-Feb-96 Consolidating Income Statement 12:26:47 PM Twelve Months Ended September 30, 1995 ---------------------------------------------------------------------------------------------- CONSOLIDATING CONSOL NJRE CR&R PPI PARADIGM DR (CR) PARADIGM ---------------------------------------------------------------------------------------------- OPERATING REVENUE .................... 557 12,770 0 0 13,327 ---------------------------------------------------------------------------------------------- OPERATING EXPENSES 6,054 (H) Gas Purchases....................... 0 0 0 0 0 Operations & Maintenance............ 530 2,952 0 0 3,482 Depreciation & Amortization......... 0 1,985 0 0 1,985 Dry hole costs...................... 0 0 Gross Receipts Tax, etc. ........... 0 1,466 0 0 1,466 FIT................................. (320) 586 0 0 266 ---------------------------------------------------------------------------------------------- TOTAL OPERATING EXPENSES.......... 210 6,989 0 0 0 0 7,199 ---------------------------------------------------------------------------------------------- OPERATING INCOME...................... 347 5,781 0 0 6,128 Other Income (Expense)................ 0 (1,840) 0 0 (1,840) FIT--Other Income (Expense)........... 0 644 0 0 644 ---------------------------------------------------------------------------------------------- OTHER INCOME--NET..................... 0 (1,196) 0 0 0 0 (1,196) ---------------------------------------------------------------------------------------------- INCOME BEFORE INTEREST CHARGES........ 347 4,585 0 0 0 0 4,932 ---------------------------------------------------------------------------------------------- INTEREST CHARGES...................... 1,532 6,008 0 0 7,540 CAPITALIZED INTEREST.................. 0 (1,356) 0 0 (1,356) ---------------------------------------------------------------------------------------------- INTEREST CHARGES, NET................. 1,532 4,652 0 0 0 0 6,184 ---------------------------------------------------------------------------------------------- EQUITY EARNINGS IN SUBS............... 0 0 0 (10,386) (10,386) 0 ---------------------------------------------------------------------------------------------- NET INCOME............................ (1,185) (67) 0 (10,386) (10,386) 0 (1,252) PREFERRED STOCK DIVIDENDS............. 0 0 0 0 0 ---------------------------------------------------------------------------------------------- INCOME FROM CONTINUING OPERATIONS.......................... (1,185) (67) 0 (10,386) (1,252) DISCONTINUED OPERATIONS Loss from oper., less inc tax cred...................... (395) 0 (44) 0 (439) Loss on disp, inc. prov. for loss during phase out.................. (8,665) 0 (30) 0 (8,695) NET INCOME............................(10,245) (67) (74) (10,386) (10,386) ============================================================================================== ------------------------------------------------------------------------------------------------------ RECLASS CONSOLIDATING CONSOL NJR NJNE NJNG PARADIGM TOTAL DR (CR) DR (CR) TOTAL ------------------------------------------------------------------------------------------------------ 6,054 (H) OPERATING REVENUE .......... 0 23,711 426,662 13,327 463,700 3,017 (C) 454,593 36 (D) ------------------------------------------------------------------------------------------------------- OPERATING EXPENSES 6,054 (H) Gas Purchases............. 0 21,609 235,567 0 257,176 36 (D) 251,086 Operations & Maintenance.. 3,289 765 58,587 3,482 66,123 3,017 (C) 59,233 3,873 (E) 0 Depreciation & Amortization 91 2 20,944 1,985 23,022 23,022 Dry hole costs............ 0 0 0 Gross Receipts Tax, etc. . 69 129 44,353 1,466 46,017 46,017 FIT....................... (4) 421 15,284 266 15,967 2,906 (G) 2,906 (G) 15,967 ------------------------------------------------------------------------------------------------------- TOTAL OPERATING EXPENSES 3,445 22,926 374,735 7,199 408,305 395,325 ------------------------------------------------------------------------------------------------------- OPERATING INCOME............(3,445) 785 51,927 6,128 55,395 59,268 Other Income (Expense)...... 4,876 1,386 (1,840) 4,422 3,873 (E) 5 (F) 554 FIT--Other Income (Expense). (351) (485) 644 (192) (192) ------------------------------------------------------------------------------------------------------- OTHER INCOME--NET........... 4,525 0 901 (1,196) 4,230 362 ------------------------------------------------------------------------------------------------------- INCOME BEFORE INTEREST CHARGES .................. 1,080 785 52,828 4,932 59,625 59,630 ------------------------------------------------------------------------------------------------------- INTEREST CHARGES............ 399 3 18,733 7,540 26,675 26,675 CAPITALIZED INTEREST........ 0 (1,237) (1,356) (2,593) (2,593) ------------------------------------------------------------------------------------------------------- INTEREST CHARGES, NET....... 399 3 17,496 6,184 24,082 24,082 ------------------------------------------------------------------------------------------------------- EQUITY EARNINGS IN SUBS .... 0 0 0 0 0 (A) 0 ------------------------------------------------------------------------------------------------------- NET INCOME.................. 681 782 35,332 (1,252) 35,543 35,548 PREFERRED STOCK DIVIDENDS... 0 1,629 0 1,629 1,629 ------------------------------------------------------------------------------------------------------- INCOME FROM CONTINUING OPERATIONS................ 681 782 33,703 (1,252) 33,914 33,919 DISCONTINUED OPERATIONS Loss from oper., less inc tax cred. .......... 0 0 0 (439) (439) (439) Loss on disp, inc. prov. for loss during phase out 0 0 0 (8,695) (8,695) (8,695) NET INCOME.................. 681 782 33,703 (10,386) 24,780 24,785 ======================================================================================================= WEIGHTED SHARES 17,604,951 EARNINGS PER SHARE CONTINUING OPERATIONS $1.93 ===== EARNINGS PER SHARE DISCOUNTINUED OPERATIONS $3.41 =====
NEW JERSEY RESOURCES CORPORATION 23-Feb-96 Consolidating Balance Sheet 12:25:28 PM September 30, 1995 ASSETS ---------------------------------------------------------------------------------------------- NJRE NJRE CONSOLIDATING NJR DEVEL. CONT. DISCONT. CR&R PPI PARADIGM DR (CR) CORP ---------------------------------------------------------------------------------------------- PROP, PLANT & EQUIP Utility plant ...................... 0 0 0 0 0 0 Accumulated depreciation ........... 0 0 0 0 0 0 Oil and gas properties ............. 0 0 0 0 0 0 Accumulated amortization ........... 0 0 0 0 0 0 Furniture & Fixtures ............... 0 0 0 21 0 21 (5) 0 Real estate properties ............. 0 0 49,509 0 0 49,509 Accumulated depreciation ........... 0 0 (7,728) (9) 0 9 (5) (7,728) ---------------------------------------------------------------------------------------------- Prop plant & equip--net .......... 0 0 41,781 12 0 9 21 41,781 ---------------------------------------------------------------------------------------------- CURRENT ASSETS Cash & Temp. Invest. ............... 1 88 29 7 1 126 Construction Fund 0 0 0 0 0 0 Customer A/R ....................... 0 1,998 1,087 2,500 0 1,441 (3) 4,144 Unbilled revenue ................... 0 0 0 0 0 0 Allow for doubtful a/c's ........... 0 0 (65) 0 0 (65) Deferred gas costs ................. 0 0 0 0 0 0 Gas in storage ..................... 0 0 0 0 0 0 Materials & supplies ............... 0 0 0 0 0 0 Prepaid state taxes ................ 0 0 0 0 0 0 Net Assets Held for Disposal 0 14,347 52,650 0 0 66,997 Other .............................. 184 180 41 7 204 204 (4) 412 ---------------------------------------------------------------------------------------------- Total current assets ............. 185 16,613 53,742 2,514 205 0 1,645 71,614 ---------------------------------------------------------------------------------------------- DEFERRED FIT ......................... 886 3,860 1,216 (72) 0 5,850 (2) 0 DEFERRED CHARGES & OTHER Investment.......................... 10,709 10,709 Regulatory Assets................... 0 Other .............................. 10 49 0 1,441 (3) 1,512 ---------------------------------------------------------------------------------------------- Total Deferred Charges & Other ..... 10,709 10 49 0 0 12 (5) 12,221 ---------------------------------------------------------------------------------------------- INVESTMENT IN SUBSIDIARIES NJNG ............................... 0 0 0 0 0 0 NJNR .............................. 0 0 0 0 (13,014) 13,014 (1) 0 CR&R ............................... 0 0 0 0 10,549 10,549 (1) 0 PPI ................................ 0 0 0 0 1,524 1,524 (1) 0 PARADIGM ........................... 0 0 0 0 0 0 NJR Energy Serv. ................... 0 0 0 0 0 0 ---------------------------------------------------------------------------------------------- Total investment in subs ......... 0 0 0 0 (941) 13,014 12,073 0 ---------------------------------------------------------------------------------------------- INTERCOMPANY NJR ................................(20,876) (13,571) (77,163) 112 (1) (111,499) NJNG ............................... 0 0 25 (5) 0 20 NJRE ............................... 2,790 (2,790) 0 0 0 0 CR&R ............................... 11,331 (11,331) 0 0 0 0 PPI ................................ 0 0 0 0 0 0 NJNE ............................... 0 0 0 0 0 0 Paradigm ........................... 0 0 0 0 0 0 Lighthouse One ..................... 0 0 0 0 0 0 ---------------------------------------------------------------------------------------------- Total intercompany ............... (6,755) (27,692) (77,138) 107 (1) 0 0 (111,479) ---------------------------------------------------------------------------------------------- INTERCOMPANY-FIT ..................... (18) (3,374) (1,221) 225 0 (4,388) ---------------------------------------------------------------------------------------------- TOTAL ASSETS ..................... 5,007 (10,583) 18,429 2,786 (737) 14,476 19,629 9,749 ============================================================================================== ASSETS ------------------------------------------------------------------------------------------------------ RECLASS CONSOLIDATING CONSOL NJR NJNE NJNG PARADIGM TOTAL DR (CR) DR (CR) TOTAL ------------------------------------------------------------------------------------------------------ PROP, PLANT & EQUIP Utility plant ............ 0 0 736,519 0 736,519 85 (F) 736,434 Accumulated depreciation 0 0 (182,080) 0 (182,080) (182,080) Oil and gas properties ... 0 0 0 0 0 0 Accumulated amortization . 0 0 0 0 0 0 Furniture & Fixtures ..... 742 67 0 0 809 809 (1) 0 Real estate properties ... 0 0 0 49,509 49,509 49,509 Accumulated depreciation . (448) (2) 0 (7,728) (8,178) 450 (1) (7,728) --------------------------------------------------------------------------------------------------- Prop plant & equip--net 294 65 554,439 41,781 596,579 596,135 --------------------------------------------------------------------------------------------------- CURRENT ASSETS Cash & Temp. Invest. ..... 161 166 612 126 1,065 1,065 Construction Fund 0 0 12,500 0 12,500 12,500 Customer A/R ............. 0 5,051 11,678 4,144 20,873 677 (6) 20,196 Unbilled revenue ......... 0 0 9,768 0 9,768 9,768 Allow for doubtful a/c's . 0 (53) (304) (65) (422) (422) Deferred gas costs ....... 0 0 17,098 0 17,098 17,098 Gas in storage ........... 0 0 26,703 0 26,703 26,703 Materials & supplies ..... 0 0 8,443 0 8,443 8,443 Prepaid state taxes ...... 0 0 18,041 0 18,041 18,041 Net Assets Held for Disposal ................ 0 0 0 66,997 66,997 66,997 Other ....................10,117 0 1,173 412 11,702 571 (5) 6,761 (B) 5,512 --------------------------------------------------------------------------------------------------- Total current assets ...10,278 5,164 105,712 71,614 192,768 185,901 --------------------------------------------------------------------------------------------------- DEFERRED FIT ............... 143 0 0 0 143 0 (2) 143 (2) 0 DEFERRED CHARGES & OTHER ... Investment ................. 10,709 10,709 10,709 Regulatory Assets .......... 22,934 0 22,934 22,934 Other ...................... 656 8,158 1,512 10,326 359 (1) 10,685 -------------------------------------------------------------------------------------------------- Total Deferred Charges & Other .................. 656 0 31,092 12,221 43,969 44,328 -------------------------------------------------------------------------------------------------- INVESTMENT IN SUBSIDIARIES NJNG ....................265,291 0 0 0 265,291 265,291 (A) 0 NJNR ..................... 0 0 0 0 0 0 (A) 0 CR&R ..................... 0 0 0 0 0 0 (A) 0 PPI ...................... 0 0 0 0 0 0 (A) 0 PARADIGM ................. (941) 0 0 0 (941) (941)(A) 0 NJR Energy Serv. ......... 783 0 0 0 783 783 (A) 0 -------------------------------------------------------------------------------------------------- Total investment in subs .............265,133 0 0 0 265,133 265,133 0 -------------------------------------------------------------------------------------------------- INTERCOMPANY NJR ...................... 0 (1,523) 1,821 (111,499) (111,201) 0 (5) 571 (5) (111,772) NJNG ................... (1,659) (38) 0 20 (1,677) (1,677) NJRE .................... 34,446 0 97 0 34,543 34,543 CR&R .....................77,415 0 64 0 77,479 77,479 PPI ...................... (112) 0 20 0 (92) (92) NJNE ..................... 1,529 0 (11) 0 1,518 1,518 Paradigm ................. 1 0 0 0 1 1 Lighthouse One ........... 0 0 0 0 0 0 --------------------------------------------------------------------------------------------------- Total intercompany ....111,620 (1,561) 1,991 (111,479) 571 0 0 --------------------------------------------------------------------------------------------------- INTERCOMPANY-FIT ........... 3,338 214 836 (4,388) 0 0 --------------------------------------------------------------------------------------------------- TOTAL ASSETS ..........391,462 3,882 694,070 9,749 1,099,163 826,364 ======================================================================================================
NEW JERSEY RESOURCES CORPORATION 23-Jan-95 Consolidating Balance Sheet 12:25:28 PM September 30, 1995 LIABILITIES AND STOCKHOLDER EQUITY ------------------------------------------------------------------------------------ NJRE NJRE CONSOLIDATING CONSOL CONT. DISCOUNT CR&R PPI PARADIGM DR (CR) PARADIGM ------------------------------------------------------------------------------------ CAPITALIZATION Common stock equity .................... 390 (13,404) 10,549 1,524 (941) (941)(1) (941) Redeemable preferred stock ............. 0 0 0 0 0 0 Long-term debt ......................... 0 0 0 0 0 0 ---------------------------------------------------------------------------------- Total capitalization ................. 390 (13,404) 10,549 1,524 (941) (941)(1) 0 (941) ---------------------------------------------------------------------------------- CURRENT LIABILITIES Current maturities of LTD .............. 0 0 0 0 0 0 Notes payable to banks ................. 0 0 0 0 0 0 Commercial paper ....................... 0 0 0 0 0 0 Purchased gas .......................... 0 0 0 0 0 0 Accounts payable & other ............... 0 3,382 1,548 403 204 204(4) 4,835 Accrued taxes .......................... 0 0 3,311 0 0 3,311 Overrecovered gas costs ................ 0 0 0 0 0 0 Customer (cr) bal & dep ................ 0 0 228 0 0 228 ---------------------------------------------------------------------------------- Total current liabil ................. 0 3,382 4,587 403 204 204 0 8,372 ---------------------------------------------------------------------------------- DEFERRED CREDITS Deferred ITC ........................... 0 0 0 0 0 0 Deferred FIT ........................... 1,317 (561) 2,876 674 0 5,890(2) (1,584) Other deferred taxes ................... 0 0 0 0 0 0 Other .................................. 3,300 0 417 185 0 3,902 ---------------------------------------------------------------------------------- Total deferred credits ............... 4,617 (361) 3,293 899 0 5,890 0 2,318 ---------------------------------------------------------------------------------- TOTAL CAP & LIAB. .................. 5,007 (10,581) 18,429 2,786 (737) 5,153 0 9,749 ================================================================================== LIABILITIES AND STOCKHOLDER EQUITY --------------------------------------------------------------------------------------------------- RECLASS CONSOLIDATING CONSOL NJR NJNE NJNG PARADIGM TOTAL DR (CR) DR (CR) TOTAL --------------------------------------------------------------------------------------------------- CAPITALIZATION Common stock equity .......... 259,004 783 265,291 (941) 524,137 0(3) 265,123(A) 253,919 Redeemable preferred stock ... 0 0 31,054 0 21,004 85(F) Long-term debt ............... 119,200 0 233,027 0 352,227 0 (3) 352,227 --------------------------------------------------------------------------------------------------- Total capitalization ....... 378,204 783 539,322 (941) 397,368 612,350 --------------------------------------------------------------------------------------------------- CURRENT LIABILITIES Current maturities of LTD .... 0 0 2,164 0 2,364 2,364 Notes payable to banks ....... 0 0 0 0 0 0 Commercial paper ............. 0 0 16,400 0 16,400 16,400 Purchased gas ................ 0 0 29,104 0 29,104 29,104 Accounts payable & other ..... 9,324 2,835 24,263 4,853 41,255 677 (6) 6,761 (B) 33,817 Accrued taxes ................ 2,985 0 5,120 3,311 11,416 2,906 (G) 3,130 Overrecovered gas costs ...... 0 0 0 0 0 0 Customer (cr) bal & dep ...... 0 0 15,812 228 16,040 16,040 --------------------------------------------------------------------------------------------------- Total current liabil ....... 12,309 2,835 93,063 8,372 116,579 106,235 --------------------------------------------------------------------------------------------------- DEFERRED CREDITS Deferred ITC ................. 0 0 11,628 0 31,628 11,628 Deferred FIT ................. (15) 143 50,504 (1,584) 49,068 143 (2) 0(2) 2,905(G) 51,851 Other deferred taxes ......... 0 0 0 0 0 0 Other ........................ 964 121 19,513 3,902 24,500 24,500 --------------------------------------------------------------------------------------------------- Total deferred credits ..... 945 264 81,685 2,318 85,326 87,979 --------------------------------------------------------------------------------------------------- TOTAL CAP & LIAB. ........ 391,462 3,882 694,070 9,749 1,099,163 0 0 26,364 ===================================================================================================
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