EX-99 9 l35368aexv99.htm EX-99 EX-99
Exhibit 99
12/31/2008
NATIONAL FUEL GAS
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
                 
    Twelve Months Ended  
    December 31  
    2008     2007  
    (Thousands of Dollars)  
INCOME
               
Operating Revenues
  $ 2,439,256     $ 2,117,176  
 
           
 
               
Operating Expenses
               
Purchased Gas
    1,285,880       1,053,152  
Operation and Maintenance
    431,750       404,159  
Property, Franchise and Other Taxes
    76,675       71,381  
Depreciation, Depletion and Amortization
    168,844       162,633  
Impairment of Oil and Gas Producing Properties
    182,811        
 
           
 
    2,145,960       1,691,325  
 
           
 
               
Operating Income
    293,296       425,851  
 
               
Other Income (Expense):
               
Income from Unconsolidated Subsidiaries
    3,342       6,023  
Interest Income
    9,614       3,558  
Other Income
    11,450       5,474  
Interest Expense on Long-Term Debt
    (71,866 )     (68,692 )
Other Interest Expense
    (2,771 )     (4,903 )
 
           
 
               
Income from Continuing Operations Before Income Taxes
    243,065       367,311  
 
               
Income Tax Expense
    87,619       145,720  
 
           
 
               
Income from Continuing Operations
    155,446       221,591  
 
               
Income (Loss) from Discontinued Operations
          131,948  
 
               
 
           
Net Income Available for Common Stock
  $ 155,446     $ 353,539  
 
           
 
               
Earnings Per Common Share:
               
Basic
               
Income from Continuing Operations
  $ 1.91     $ 2.66  
Income (Loss) from Discontinued Operations
          1.58  
 
           
Net Income Available for Common Stock
  $ 1.91     $ 4.24  
 
           
 
               
Diluted
               
Income from Continuing Operations
  $ 1.87     $ 2.59  
Income (Loss) from Discontinued Operations
          1.54  
 
           
Net Income Available for Common Stock
  $ 1.87     $ 4.13  
 
           
 
               
Weighted Average Common Shares Outstanding:
               
Used in Basic Calculation
    81,217,898       83,376,508  
 
           
 
               
Used in Diluted Calculation
    83,112,216       85,541,214