EX-99 5 exhibithb12.txt EXHIBIT H B 1.2 Exhibit H (b) 1.2 NORTHEAST UTILITIES PARENT PRO FORMA INCOME STATEMENT FOR THE 12 MONTHS ENDED DECEMBER 31, 2001 Unaudited (Thousands of Dollars)
Pro Forma Pro Forma Giving Effect Per Book Adjustments To Adjustments -------- ----------- -------------- Operating Revenues......................................... $ - $ - -------- -------- --------- Operating Expenses: Operation expense........................................ 11,868 11,868 Taxes other than income taxes............................ 49 49 -------- -------- -------- Total operating expenses............................... 11,917 - 11,917 -------- -------- -------- Operating Loss........................................... (11,917) - (11,917) Other Income, Net........................................ 277,126 277,126 -------- -------- -------- Income Before Interest and Income Tax Expense............ 265,209 - 265,209 -------- -------- -------- Interest Expense: Interest on long-term debt............................. 24,191 48,960 c,d,e 73,151 Other interest......................................... 8,505 8,505 -------- -------- -------- Interest expense, net................................ 32,696 48,960 81,656 -------- -------- -------- Income Before Income Tax Expense....................... 232,513 (48,960) 183,553 Income Tax Benefit..................................... 10,997 19,054 f 30,051 -------- -------- -------- Net Income............................................. $243,510 $(29,906) $213,604 ======== ======== ========
NORTHEAST UTILITIES PARENT PRO FORMA STATEMENT OF RETAINED EARNINGS AS OF DECEMBER 31, 2001 Unaudited (Thousands of Dollars)
Pro Forma Pro Forma Giving Effect Per Book Adjustments To Adjustments -------- ----------- -------------- Balance at beginning of the period......................... $495,873 $ $495,873 Net income................................................. 243,510 (29,906) 213,604 Cash dividends on common stock............................. (60,923) (60,923) -------- -------- -------- Balance at end of period................................... $678,460 $(29,906) $648,554 ======== ======== ========
NORTHEAST UTILITIES PARENT PRO FORMA CAPITAL STRUCTURE AS OF DECEMBER 31, 2001 Unaudited (Thousands of Dollars)
Pro Forma Pro Forma Giving Effect Per Book Adjustments To Adjustments -------- ----------- -------------- Long-term debt*............................................ $ 357,000 $337,000 $ 694,000 Common stockholders' equity................................ 2,117,640 (29,906) 2,087,734 ---------- -------- ---------- Total capitalization....................................... $2,474,646 $307,094 $2,781,734 ========== ======== ========== *Does not include current portion.
NORTHEAST UTILITIES PARENT PRO FORMA ADJUSTMENTS TO THE FINANCIAL STATEMENTS (Thousands of Dollars)
Debit Credit ----- ------ a) Cash and cash equivalents $600,000 Long-term debt $600,000 To record issuance of long-term debt b) Long-term debt $263,000 Cash $263,000 To record repayment of long-term debt c) Interest on long-term debt $ 662 Other deferred debits $ 662 To expense remaining issuance costs on long-term debt retired d) Interest on long-term debt $ 47,396 Accrued interest $ 47,396 To record net increase in interest expense as a result of the long-term debt retired/issued e) Other deferred debits - unamortized debt expense $ 8,123 Unamortized debt expense $ 902 Cash and cash equivalents $ 9,025 To record and amortize debt issuance costs associated with the long-term debt issued f) Accrued taxes $ 19,054 Income tax expense $ 19,054 To record tax effect of entries c, d, and e above