EX-99 8 l25991aexv99.htm EX-99 EX-99
 

Exhibit 99
NATIONAL FUEL GAS
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
                 
    Twelve Months Ended  
    March 31  
    2007     2006  
    (Thousands of Dollars)  
INCOME
               
Operating Revenues
  $ 2,026,318     $ 2,289,160  
 
           
 
               
Operating Expenses
               
Purchased Gas
    984,087       1,266,734  
Operation and Maintenance
    413,935       426,206  
Property, Franchise and Other Taxes
    69,986       69,425  
Depreciation, Depletion and Amortization
    177,177       179,751  
Impairment of Oil and Gas Producing Properties
    104,739        
 
           
 
    1,749,924       1,942,116  
 
           
 
               
Operating Income
    276,394       347,044  
 
               
Other Income (Expense):
               
Income from Unconsolidated Subsidiaries
    3,772       4,107  
Impairment of Investment in Partnership
          (4,158 )
Interest Income
    10,424       7,304  
Other Income
    5,077       8,355  
Interest Expense on Long-Term Debt
    (70,193 )     (72,917 )
Other Interest Expense
    (6,077 )     (7,955 )
 
           
 
               
Income from Continuing Operations Before Income Taxes
    219,397       281,780  
 
               
Income Tax Expense
    84,352       101,063  
 
           
 
               
Income from Continuing Operations
    135,045       180,717  
 
               
Discontinued Operations
               
Income (Expense) from Operations, Net of Tax
          (2,111 )
Gain on Disposal, Net of Tax
          25,774  
 
           
 
               
 
          23,663  
 
           
Net Income Available for Common Stock
  $ 135,045     $ 204,380  
 
           
 
               
Earnings Per Common Share:
               
Basic
               
Income from Continuing Operations
  $ 1.62     $ 2.15  
Income (Loss) from Discontinued Operations
          0.28  
 
           
Net Income Available for Common Stock
  $ 1.62     $ 2.43  
 
           
 
               
Diluted
               
Income from Continuing Operations
  $ 1.58     $ 2.11  
Income (Loss) from Discontinued Operations
          0.27  
 
           
Net Income Available for Common Stock
  $ 1.58     $ 2.38  
 
           
 
               
Weighted Average Common Shares Outstanding:
               
Used in Basic Calculation
    83,232,743       84,116,896  
 
           
 
               
Used in Diluted Calculation
    85,352,796       85,810,270