-----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, QWPloRQTpehvjee96KMwLDqpSHcMLUz0R6JR/MhhtQl4VcOYS3sck2M8N2wuwE0t Rbt40PWfktCdJW5EG5XtdA== 0000071297-99-000076.txt : 19990830 0000071297-99-000076.hdr.sgml : 19990830 ACCESSION NUMBER: 0000071297-99-000076 CONFORMED SUBMISSION TYPE: U-9C-3 PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 19990630 FILED AS OF DATE: 19990827 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEW ENGLAND ELECTRIC SYSTEM CENTRAL INDEX KEY: 0000071297 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 041663060 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: U-9C-3 SEC ACT: SEC FILE NUMBER: 074-00009 FILM NUMBER: 99701223 BUSINESS ADDRESS: STREET 1: 25 RESEARCH DR CITY: WESTBOROUGH STATE: MA ZIP: 01582 BUSINESS PHONE: 5083892000 MAIL ADDRESS: STREET 1: 25 RESEARCH DR CITY: WESTBOROUGH STATE: MA ZIP: 01582 U-9C-3 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM U-9C-3 QUARTERLY REPORT PURSUANT TO RULE 58 FOR THE QUARTER ENDED June 30, 1999 NEW ENGLAND ELECTRIC SYSTEM 25 Research Drive, Westborough, MA 01582
NEW ENGLAND ELECTRIC SYSTEM For The Quarter Ended June 30, 1999 ITEM 1 - ORGANIZATION CHART Percentage Energy or State of voting Name of Reporting Gas-Related Date of of Securities Company Company Organization Organization Held Nature of Business - ----------------- ----------- ------------ ------------ - ----------- -------------------------------------- New England Energy, Energy 11/20/72 MA 100 New England Energy, Inc. Inc./New England participated (principally through a Electric System partnership with a nonaffiliated oil company) in domestic oil and gas exploration, development, and production and the sale to New England Power Company (NEP) of fuel purchased in the open market. Effective 1/1/98, NEEI sold its oil and gas properties and ceased its participation in domestic oil and gas exploration, development, and production. Granite State Energy, Energy 04/22/96 NH 100 Granite State Energy provides a range Inc./New England of energy and related services including, Electric System but not limited to, sales of energy, audits, power quality, fuel supply, repair, maintenance, construction, design, engineering, and consulting.
NEW ENGLAND ELECTRIC SYSTEM For The Quarter Ended June 30, 1999 ITEM 1 - ORGANIZATION CHART Percentage Energy or State of voting Name of Reporting Gas-Related Date of of Securities Company Company Organization Organization Held Nature of Business - ----------------- ----------- ------------ ------------ - ----------- -------------------------------------- AllEnergy Marketing Energy 04/23/98 DE 100 AllEnergy's principal purpose Co., L.L.C./NEES is to sell energy and provide a range Energy, Inc./New of energy-related services including, England Electric but not limited to, marketing, System brokering and sales of energy, audits, fuel supply, repair, maintenance, construction, operation, design, engineering, and consulting. This company is a Delaware limited liability company. New England Water Energy 05/25/90 MA 100 New England Water Heater Co., Inc. Heater Co., Inc./NEES rents water heaters to residential Global, Inc./New and commercial customers throughout England Electric New England. System AllEnergy Fuels Energy 03/27/98 DE 100 AllEnergy Fuel's purpose is to Corp./ New England acquire interests in and assets of Electric System energy-related companies and to engage in energy-related activities in accordance with Rule 58. Separation Energy 3/28/89 DE 5.6 This company produces concrete using Technologies, Inc./ fly ash waste from coal-fired NEES Global, Inc./New generating plants. England Electric System
NEW ENGLAND ELECTRIC SYSTEM For The Quarter Ended June 30, 1999 ITEM 1 - ORGANIZATION CHART Percentage Energy or State of voting Name of Reporting Gas-Related Date of of Securities Company Company Organization Organization Held Nature of Business - ----------------- ----------- ------------ ------------ - ----------- -------------------------------------- Texas Liquids, Energy 12/19/96 MA 100 Texas Liquids, L.L.C. engages in L.L.C./AllEnergy purchasing, marketing, selling, Marketing Company, and distributing energy L.L.C./NEES commodities and related products Energy, Inc./ New and services. England Electric System NeXus Energy Energy 05/19/97 MA 9.9 NeXus Energy Software's purpose is to Software, Inc./ develop, implement, produce, market, and NEES Global, sell software for application in the Inc./ New England energy conservation industry. Electric System Weatherwise USA L.L.C./ Energy 10/10/96 DE 10 Weatherwise USA L.L.C.'s purpose is to be AllEnergy Marketing an energy-related company to provide Company, L.L.C./ energy management and technical and NEES Energy, Inc./New utility hedging services to reduce England Electric System weather-related financial uncertainty of utilities, energy users, and others. AEDR Fuels, L.L.C./ Energy 01/12/98 ME 50 AEDR Fuels, L.L.C. is a joint venture AllEnergy Marketing between AllEnergy Marketing Company, Company, L.L.C./ L.L.C. and a nonaffiliated third NEES Energy Inc./ party. Its purpose is to acquire New England Electric interests in and assets of energy-related System companies and to engage in energy-related activities in accordance with Rule 58.
NEW ENGLAND ELECTRIC SYSTEM For The Quarter Ended June 30, 1999 Item 2 - ISSUANCES AND RENEWALS OF SECURITIES AND CAPITAL CONTRIBUTIONS Type of Principal Issue Cost Person to Collateral Consideration Security Amount of or of Whom Security Given with Received for Company Issuing Security Issued Security* Renewal Capital Was Issued Security Each Security* - ------------------------ -------- --------- ------- - ------- -------------- ----------- ------------- N/A *Expressed in millions, rounded to hundred thousands of dollars
NEW ENGLAND ELECTRIC SYSTEM For The Quarter Ended June 30, 1999 (cont'd.) Item 2 - ISSUANCES AND RENEWALS OF SECURITIES AND CAPITAL CONTRIBUTIONS (expressed in millions, rounded to hundred thousands of dollars) Company Company Amount of Contributing Receiving Capital Capital Capital Contribution ------------ --------- ------------ NEES Energy, Inc. AllEnergy Marketing Company, L.L.C. $(9.0) NEES Global, Inc. New England Water Heater, Inc. (0.4)
NEW ENGLAND ELECTRIC SYSTEM For The Quarter Ended June 30, 1999 Item 3 - ASSOCIATE TRANSACTIONS (expressed in millions, rounded to hundred thousands of dollars) Part I - Transactions performed by reporting companies on behalf of associate companies Direct Indirect Total Reporting Company Associate Company Types of Services Costs Costs Cost of Amount Rendering Services Receiving Services Rendered Charged Charged Capital Billed ------------------ ------------------ - ----------------- ------- ------- ------- ------ N/A Part II - Transactions performed by associate companies on behalf of reporting companies Direct Indirect Total Associate Company Reporting Company Types of Services Costs Costs Cost of Amount Rendering Services Receiving Services Rendered Charged Charged Capital Billed ----------------- ------------------ - ----------------- ------- ------- ------- ------ Massachusetts Electric Granite State Energy, Miscellaneous (5) (1) (1) (1) Company Inc. New England Power New England Energy, Inc. Miscellaneous (2) (1) (1) (1) (1) Service Co. New England Power Granite State Energy, Miscellaneous (3) (1) (1) (1) (1) Service Co. Inc. New England Power AllEnergy Marketing Environmental (1) (1) (1) (1) Service Co. Company, L.L.C. Corp. Actg. (1) (1) (1) (1) Sales Planning (1) (1) (1) (1) Miscellaneous (4) (1) (1) (1) (1) (1) Amounts are below $100,000 (2) Represents 4 types of services totaling less than $100,000 in aggregate. (3) Represents 7 types of services totaling less than $100,000 in aggregate. (4) Represents 8 types of services totaling less than $100,000 in aggregate. (5)The customer service portion of the service agreement between Granite State Energy Company and New England Power Service Company has been assigned to Massachusetts Electric Company, in accordance with its terms.
NEW ENGLAND ELECTRIC SYSTEM At June 30, 1999 ITEM 4 - SUMMARY OF AGGREGATE INVESTMENT (expressed in millions, rounded to hundred thousands of dollars) Investment in energy-related companies: Total consolidated capitalization as of June 30, 1999 $2,673.1 (1) line 1 Total capitalization multiplied by 15 percent 401.0 line 2 (line 1 multiplied by 0.15) Greater of $50 million or line 2 401.0 line 3 Total current aggregate investment: (categorized by major line of energy- related business) Power marketing and other $175.6 Energy software 2.2 ------ Total current aggregate investment $177.8 line 4 ------ Difference between the greater of $50 million or 15 percent of capitalization and the total aggregate investment of the registered holding company system (line 3 less line 4) $223.2 line 5 (1)Consolidated capitalization includes total common equity, cumulative preferred stock, long-term debt (including long-term debt due within one year).
NEW ENGLAND ELECTRIC SYSTEM For The Quarter Ended June 30, 1999 ITEM 5 - OTHER INVESTMENTS Reason for Major Line Other Other Difference or Energy-Related Investment in Investment in Other Business Last U-9C-3 Report in U-9C-3 Report Investment - ----------------- ------------------ ---------------- ---------- Power Marketing $7.8 $0 Investments and Other made prior to the effective date of Rule 58 NEW ENGLAND ELECTRIC SYSTEM For The Quarter Ended June 30, 1999 ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS (A) Exhibits 10(g) Certificate stating that a copy of the report for the previous quarter has been filed with the appropriate state commissions. (B) Financial Statements 1-ANew England Electric System Consolidated Income Statements for the quarter and six months ended June 30, 1999 1-BNew England Electric System Consolidated Balance Sheet as of June 30, 1999 2-ANew England Energy, Inc. Balance Sheet as of June 30, 1999 3-AGranite State Energy, Inc. Income Statements for the quarter and six months ended June 30, 1999 3-BGranite State Energy, Inc. Balance Sheet as of June 30, 1999 4-A New England Water Heater Co., Inc. Income Statements for the quarter and six months ended June 30, 1999 4-B New England Water Heater Co., Inc. Balance Sheet as of June 30, 1999 5-ATexas Liquids, L.L.C. Income Statements for the quarter and six months ended June 30, 1999 5-BTexas Liquids, L.L.C. Balance Sheet as of June 30, 1999 6-AAEDR Fuels, L.L.C. Income Statements for the quarter and six months ended June 30, 1999 6-B AEDR Fuels, L.L.C. Balance Sheet as of June 30, 1999 7-A AllEnergy Marketing Company, L.L.C. Consolidated Income Statements for the quarter and six months ended June 30, 1999 7-B AllEnergy Marketing Company, L.L.C. Consolidated Balance Sheet as of June 30, 1999 Notes (1)Financial statements for Separation Technologies, Inc., NEXUS Energy Software, Inc., and Weatherwise USA L.L.C. are not available as of the filing date. (2)New England Energy, Inc. Income Statement actuals are less than $100,000 and therefore are not reported. SIGNATURE Pursuant to the requirements of the Public Utility Holding Company Act of 1935, the undersigned company has duly caused this report to be signed on its behalf by the undersigned officer thereunto duly authorized. NEW ENGLAND ELECTRIC SYSTEM s/ John G. Cochrane _______________________________ John G. Cochrane, Treasurer Date: August 27, 1999 The name "New England Electric System" means the trustee or trustees for the time being (as trustee or trustees but not personally) under an agreement and declaration of trust dated January 2, 1926, as amended, which is hereby referred to, and a copy of which as amended has been filed with the Secretary of the Commonwealth of Massachusetts. Any agreement, obligation or liability made, entered into or incurred by or on behalf of New England Electric System binds only its trust estate, and no shareholder, director, trustee, officer or agent thereof assumes or shall be held to any liability therefor. EX-99 2 EXHIBIT INDEX Exhibit No. Description Page - ---------- -------------------------------------- -------------- 10(g) Certificate stating that a copy of the Filed Herewith report for the previous quarter has been filed with interested state commissions. Financial Statement No. Description Page - --------- ------------------------------------- -------------- 1-A New England Electric System Filed Herewith Consolidated Income Statements for the quarter and six months ended June 30, 1999 1-B New England Electric System Consolidated Filed Herewith Balance Sheet as of June 30, 1999 2-A New England Energy, Inc. Balance Filed Herewith Sheet as of June 30, 1999 3-A Granite State Energy, Inc. Income Filed Herewith Statements for the quarter and six months ended June 30, 1999 3-B Granite State Energy, Inc. Balance Filed Herewith Sheet as of June 30, 1999 4-A New England Water Heater Co., Inc. Filed Herewith Income Statements for the quarter and six months ended June 30, 1999 4-BNew England Water Heater Co., Inc. Filed Herewith Balance Sheet as of June 30, 1999 5-ATexas Liquids, L.L.C. Income Filed Herewith Statements for the quarter and six months ended June 30, 1999 5-BTexas Liquids, L.L.C. Balance Filed Herewith Sheet as of June 30, 1999 6-AAEDR Fuels, L.L.C. Income Statements Filed Herewith for the quarter and six months ended June 30, 1999 6-B AEDR Fuels, L.L.C. Balance Sheet as of Filed Herewith June 30, 1999 7-A AllEnergy Marketing Company, L.L.C. Filed Herewith Consolidated Income Statements for the quarter and six months ended June 30, 1999 7-B AllEnergy Marketing Company, L.L.C. Filed Herewith Consolidated Balance Sheet as of June 30, 1999 EX-99 3 EXHIBIT 10(G) CERTIFICATE - ----------- A copy of the Form U-9C-3 report for the previous quarter (quarter ended March 31, 1999) has been filed with the interested state commissions in accordance with Rule 58 under the Public Utility Holding Company Act of 1935. The names and addresses of such state commissions are as follows: Mrs. Luly Massaro, Clerk Rhode Island Public Utilities Commission 100 Orange Street Providence, Rhode Island 02903 Mary L. Cottrell, Secretary Massachusetts Department of Telecommunications and Energy 100 Cambridge Street Boston, MA 02202 Mr. Thomas B. Getz Executive Director and Secretary New Hampshire Public Utilities Commission 8 Old Suncook Road Concord, New Hampshire 03301 SIGNATURE: NEW ENGLAND ELECTRIC SYSTEM s/ John G. Cochrane By_______________________________ Name: John G. Cochrane Title: Treasurer Date: August 27, 1999 The name "New England Electric System" means the trustee or trustees for the time being (as trustee or trustees but not personally) under an agreement and declaration of trust dated January 2, 1926, as amended, which is hereby referred to, and a copy of which as amended has been filed with the Secretary of The Commonwealth of Massachusetts. Any agreement, obligation or liability made, entered into or incurred by or on behalf of New England Electric System binds only its trust estate, and no shareholder, director, trustee, officer or agent thereof assumes or shall be held to any liability therefore. EX-99 4 FINANCIAL STATEMENT 1-A NEW ENGLAND ELECTRIC SYSTEM AND SUBSIDIARIES Statements of Consolidated Income Periods Ended June 30, 1999 (expressed in millions, rounded to hundred thousands of dollars) (Unaudited, subject to adjustment)
Quarter Six months ------- ---------- Operating revenue $595.3 $1,252.8 ------ -------- Operating expenses: Fuel for generation 2.2 5.3 Purchased electric energy 230.7 481.5 Cost of sales AllEnergy 71.6 160.4 Other operation 125.4 236.7 Maintenance 23.6 40.6 Depreciation and amortization 51.3 121.0 Taxes, other than income taxes 25.5 54.0 Income taxes 20.0 49.1 ------ -------- Total operating expenses 550.3 1,148.6 ------ -------- Operating income 45.0 104.2 Other income: Allowance for equity funds used during construction 0.5 1.1 Equity in income of generating companies 1.0 1.5 Other income (expense), net 2.0 6.7 ------ -------- Operating and other income 48.5 113.5 ------ -------- Interest: Interest on long-term debt 17.3 34.6 Other interest 2.2 4.4 Allowance for borrowed funds used during construction (0.3) (0.6) ------ -------- Total interest 19.2 38.4 ------ -------- Income after interest 29.3 75.1 Preferred dividends and net gain/loss on reacquisition of preferred stock of subsidiaries 0.3 0.5 Minority interests 1.5 2.9 ------ -------- Net income $ 27.5 $ 71.7 ====== ========
EX-99 5 FINANCIAL STATEMENT 1-B NEW ENGLAND ELECTRIC SYSTEM AND SUBSIDIARIES Consolidated Balance Sheet At June 30, 1999 (expressed in millions, rounded to hundred thousands of dollars) (Unaudited, subject to adjustment)
ASSETS - ------ Utility plant, at original cost $4,175.0 Less accumulated provisions for depreciation and amortization 1,737.8 -------- 2,437.2 Construction work in progress 65.3 -------- Net utility plant 2,502.5 -------- Investments: Nuclear power companies, at equity 47.5 Other subsidiaries, at equity 2.3 Non-utility property and other investments 195.4 -------- Total investments 245.2 -------- Current assets: Cash 121.4 Marketable securities 0.0 Accounts receivable, less reserves of $20.8 259.0 Unbilled revenues 85.8 Fuel, materials, and supplies, at average cost 36.4 Prepaid and other current assets 71.3 -------- Total current assets 573.9 -------- Regulatory assets 1,448.6 Goodwill, net of amortization 92.0 Deferred charges and other assets 27.0 -------- $4,889.2 ======== CAPITALIZATION AND LIABILITIES - ------------------------------ Capitalization: Common share equity: Common shares, par value $1 per share: Authorized - 150,000,000 shares Issued - 64,969,652 shares Outstanding - 59,120,059 shares $ 65.0 Paid-in capital 736.7 Retained earnings 1,000.8 Treasury stock - 5,849,593 shares (240.3) Accumulated other comprehensive income, net 8.2 -------- Total common share equity 1,570.4 Minority interests in consolidated subsidiaries 39.2 Cumulative preferred stock of subsidiaries 19.5 Long-term debt 1,043.9 -------- Total capitalization 2,673.0 -------- Current liabilities: Long-term debt due within one year 39.3 Accounts payable 183.3 Accrued taxes 16.4 Accrued interest 16.1 Dividends payable 30.4 Other current liabilities 122.5 -------- Total current liabilities 408.0 -------- Deferred federal and state income taxes 466.0 Unamortized investment tax credits 57.9 Accrued Yankee nuclear plant costs 222.4 Purchased power obligations 761.1 Other reserves and deferred credits 300.8 -------- $4,889.2 ========
EX-99 6 FINANCIAL STATEMENT 2-A NEW ENGLAND ENERGY INCORPORATED Balance Sheet At June 30, 1999 (expressed in millions, rounded to hundred thousands of dollars) (Unaudited, Subject to Adjustment)
ASSETS ------ Current assets: Cash $ 0.3 Temporary cash investment with affiliated company 0.9 Prepaid expenses 0.3 ----- Total current assets 1.5 ----- Total assets $ 1.5 ===== LIABILITIES AND PARENT COMPANY'S INVESTMENT - ------------------------------------------- Current liabilities: Accounts payable $ 0.2 Accounts payable - associated companies 0.1 Accrued taxes 2.9 Miscellaneous current and accrued liabilities 0.6 ----- Total current liabilities 3.8 ----- Parent company's investment: Subordinated notes payable to parent 23.6 Common stock, par value $1 per share, and other paid-in capital 0.3 Accumulated deficit (26.2) ----- Total parent company's investment (2.3) ----- Total liabilities and parent company's investment $ 1.5 =====
EX-99 7 FINANCIAL STATEMENT 3-A GRANITE STATE ENERGY, INC. Statements of Income (expressed in millions, rounded to hundred thousands of dollars) Periods Ended June 30, 1999 (Unaudited, subject to adjustment)
Quarter Six Months ------- ---------- Operating revenue $0.2 $0.4 ---- ---- Operating expenses: Purchased electric energy 0.1 0.3 Other operation 0.1 0.1 ---- ---- Total operating expenses 0.2 0.4 ---- ---- Net income $ - $ - ==== ====
EX-99 8 FINANCIAL STATEMENT 3-B GRANITE STATE ENERGY, INC. Balance Sheet At June 30, 1999 (expressed in millions, rounded to hundred thousands of dollars) (Unaudited, subject to adjustment)
ASSETS - ------ Current assets: Cash $ 0.1 Customer accounts receivable and unbilled revenue, net 0.1 ----- Total assets $ 0.2 ===== LIABILITIES AND PARENT COMPANY'S INVESTMENT - ------------------------------------------- Accounts payable $ 0.1 Parent company's investment: Subordinated notes payable to parent 0.4 Accumulated deficit (0.3) ----- Total parent company's investment 0.1 ----- Total liabilities and parent company's investment $ 0.2 =====
EX-99 9 FINANCIAL STATEMENT 4-A NEW ENGLAND WATER HEATER CO., INC. Statements of Income Periods Ended June 30, 1999 (expressed in millions, rounded to hundred thousands of dollars) (Unaudited, subject to adjustment)
Quarter Six Months ------- ---------- Revenues $2.3 $4.8 ---- ---- Operating expenses Cost of sales 0.6 1.2 Other operation 0.7 1.1 Depreciation 0.5 1.1 Taxes 0.3 0.7 ---- ---- Total operating expenses 2.1 4.1 ---- ---- Net income $0.2 $0.7 ==== ====
EX-99 10 FINANCIAL STATEMENT 4-B NEW ENGLAND WATER HEATER CO., INC. Balance Sheet At June 30, 1999 (expressed in millions, rounded to hundred thousands of dollars) (Unaudited, Subject to Adjustment)
ASSETS - ------ Current assets Cash $ 0.3 Accounts receivable and unbilled revenue, less reserves of $0.2 0.8 Inventory 0.3 Prepaid expenses 0.1 ----- Total current assets 1.5 ----- Fixed assets, net 15.9 ----- Total assets $17.4 ===== LIABILITIES AND PARENT COMPANY'S INVESTMENT - ------------------------------------------- Current liabilities Accounts payable $ 0.2 Miscellaneous current and accrued liabilities 0.2 Deferred revenue 0.3 ----- Total current liabilities 0.7 ----- Deferred federal and state income taxes 1.1 Parent company's investment: Common stock and additional paid in capital 4.3 Subordinated notes payable to parent 10.2 Retained earnings 1.1 ----- Total parent company's investment 15.6 ----- Total liabilities and parent company's investment $17.4 =====
EX-99 11 FINANCIAL STATEMENT 5-A TEXAS LIQUIDS, LLC Statements of Income Periods Ended June 30, 1999 (expressed in millions, rounded to hundred thousands of dollars) (Unaudited, subject to adjustment)
Quarter Six Months ------- ---------- Revenues $24.5 $54.1 Cost of sales 23.2 51.2 ----- ----- Gross margin 1.3 2.9 ----- ----- Selling, general, and administrative 0.7 1.4 ----- ----- Pre-tax net income $ 0.6 $ 1.5 ===== =====
EX-99 12 FINANCIAL STATEMENT 5-B TEXAS LIQUIDS, LLC Balance Sheet At June 30, 1999 (expressed in millions, rounded to hundred thousands of dollars) (Unaudited, subject to adjustment)
ASSETS - ------ Cash $ 0.6 Accounts receivable and unbilled revenues, net 5.4 Inventory 4.4 Prepaid expenses 0.5 Other current assets 0.3 ----- Total current assets 11.2 ----- Fixed assets, net 0.1 Goodwill, net of amortization 0.2 ----- Total assets $11.5 ===== LIABILITIES AND MEMBERS' EQUITY - ------------------------------- Accounts payable (including $0.1 to affiliates) $ 5.2 Note payable to affiliate 1.0 Other current liabilities 0.3 Deferred revenue 0.5 ----- Total current liabilities 7.0 ----- Members' equity 2.4 Retained earnings 2.1 ----- Total equity 4.5 ----- Total liabilities and members' equity $11.5 =====
EX-99 13 FINANCIAL STATEMENT 6-A AEDR FUELS, L.L.C. Statements of Income Periods Ended June 30, 1999 (expressed in millions, rounded to hundred thousands of dollars) (Unaudited, subject to adjustment)
Quarter Six Months ------- ---------- Revenues $ - $ - Cost of sales - - ----- ----- Gross margin $ - $ - ----- ----- Selling, general, and administrative 0.2 0.2 ----- ----- Pre-tax net income (loss) $(0.2) $(0.2) ===== =====
EX-99 14 FINANCIAL STATEMENT 6-B AEDR FUELS, L.L.C. Balance Sheet At June 30, 1999 (expressed in millions, rounded to hundred thousands of dollars) (Unaudited, subject to adjustment)
ASSETS - ------ Current assets $ 0.1 Fixed assets, net 0.2 ----- Total assets $ 0.3 ===== LIABILITIES AND MEMBER'S EQUITY - ------------------------------- Long-term liabilities $ 0.5 Retained earnings (0.2) ----- Total liabilities and member's equity $ 0.3 =====
EX-99 15 FINANCIAL STATEMENT 7-A TABLE> ALLENERGY MARKETING COMPANY, L.L.C. Statements of Consolidated Income Periods Ended June 30, 1999 (expressed in millions, rounded to hundred thousands of dollars) (Unaudited, subject to adjustment) [CAPTION] Quarter Six Months ------- ---------- [S] [C] [C] Revenues $82.9 $184.4 Cost of sales 71.6 160.4 ----- ------ Gross margin 11.3 24.0 ----- ------ Selling, general, and administrative: Salaries and benefits 7.8 14.5 Selling and marketing 0.7 1.3 Office expense 3.0 5.6 Depreciation and amortization 2.2 3.7 Other 1.1 2.1 ----- ------ Total selling, general, and administrative 14.8 27.2 Other income 0.1 0.2 ----- ------ Pre-tax net income (loss) $(3.4) $ (3.0) ===== ====== [/TABLE] EX-99 16 FINANCIAL STATEMENT 7-B ALLENERGY MARKETING COMPANY, L.L.C. Consolidated Balance Sheet At June 30, 1999 (expressed in millions, rounded to hundred thousands of dollars) (Unaudited, subject to adjustment)
ASSETS - ------ Cash $ 4.4 Accounts receivable and unbilled revenue, net 37.2 Inventory 11.6 Prepaid expenses 3.2 Other current assets 3.7 ------ Total current assets 60.1 ------ Fixed assets, net 11.4 Goodwill, net of amortization 92.0 Investment in affiliates 0.9 Other assets 2.8 ------ Total assets $167.2 ====== LIABILITIES AND MEMBER'S EQUITY - ------------------------------- Accounts payable $ 11.0 Accrued expenses 8.8 Current portion of long-term debt 0.3 Other current liabilities 8.0 ------ Total current liabilities 28.1 ------ Long-term debt 0.7 Other non-current liabilities 7.3 ------ Total liabilities 36.1 ------ Subordinated note payable 120.5 Members' equity 54.0 Retained earnings (43.4) ------ Total liabilities and member's equity $167.2 ======
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