EX-99.3 OTHER FIN ST 5 nuproforma21.txt NU PARENT BALANCE SHEET NORTHEAST UTILITIES PARENT 2.1 PRO FORMA BALANCE SHEET AS OF DECEMBER 31, 2002 Unaudited (Thousands of Dollars)
PRO FORMA GIVING PRO EFFECT FORMA TO PER BOOK ADJ. ADJ. ASSETS: Cash $ 625 $351,000 a $ 351,625 Notes receivable from affiliated companies 289,100 289,100 Notes and accounts receivable 551 Receivables from affiliated companies 2,620 2,620 Prepayments 73 73 ---------- -------- ---------- 292,969 351,000 643,969 ---------- -------- ---------- Deferred Debits and Other Assets: Investments in subsidiary companies, at equity 2,322,902 2,322,902 Other 18,159 18,159 ---------- -------- ---------- 2,341,061 - 2,341,061 ---------- -------- ---------- Total Assets $2,634,030 $351,000 $2,985,030 ========== ======== ========== LIABILITIES AND CAPITALIZATION: Notes payable to banks $ 49,000 $351,000 a $ 400,000 Long-term debt - current portion 23,000 23,000 Accounts payable 2,285 2,285 Accounts payable to affiliated companies 290 290 Accrued taxes 2,460 (3,166) b (706) Accrued interest 5,883 7,915 b 13,798 Other 363 363 ---------- -------- ---------- 83,281 355,749 439,030 ---------- -------- ---------- Deferred Credits and Other Liabilities: Accumulated deferred income taxes 6,087 6,087 Other 141 141 ---------- -------- ---------- 6,228 - 6,228 ---------- -------- ---------- Capitalization: Long-Term Debt 334,000 334,000 ---------- -------- ---------- Common Shareholders' Equity: Common shares 746,879 746,879 Capital surplus, paid in 1,108,338 1,108,338 Deferred contribution plan - employee stock stock ownership plan (87,746) (87,746) Retained earnings 765,611 (4,749) b 760,862 Accumulated other comprehensive income 14,927 14,927 Treasury stock (337,488) (337,488) ---------- -------- ---------- Common Shareholders' Equity 2,210,521 (4,749) 2,205,772 ---------- -------- ---------- Total Capitalization 2,544,521 (4,749) 2,539,772 ---------- -------- ---------- Total Liabilities and Capitalization $2,634,030 $351,000 $2,985,030 ========== ======== ==========
NORTHEAST UTILITIES PARENT 2.2 PRO FORMA INCOME STATEMENT FOR THE 12 MONTHS ENDED DECEMBER 31, 2002 Unaudited (Thousands of Dollars)
PRO FORMA GIVING PRO EFFECT FORMA TO PER BOOK ADJ. ADJ. Operating Revenues $ - $ $ - -------- ------- -------- Operating Expenses: Other 12,787 12,787 -------- ------- -------- Operating Loss (12,787) (12,787) -------- ------- -------- Interest Expense 30,630 7,915 b 38,545 -------- ------- -------- Other Income, Net 185,448 185,448 -------- ------- -------- Income/(Loss) Before Income Tax Benefit 142,031 (7,915) 134,116 Income Tax Benefit (10,078) (3,166) b (13,244) -------- ------- -------- Net income/(loss) $152,109 $(4,749) $147,360 ======== ======= ========
NORTHEAST UTILITIES PARENT 2.2 PRO FORMA STATEMENT OF RETAINED EARNINGS FOR THE 12 MONTHS ENDED DECEMBER 31, 2002 Unaudited (Thousands of Dollars)
PRO FORMA GIVING PRO EFFECT FORMA TO PER BOOK ADJ. ADJ. Balance at beginning of period $678,460 $ $678,460 Net income 152,109 (4,749) b 147,360 Cash dividends on common shares (67,793) (67,793) Allocation of benefits - ESOP and restricted stock 2,835 2,835 -------- ------- -------- Balance at end of period $765,611 $(4,749) $760,862 ======== ======= ========
NORTHEAST UTILITIES PARENT 2.2 PRO FORMA CAPITAL STRUCTURE AS OF DECEMBER 31, 2002 Unaudited (Thousands of Dollars)
PRO FORMA GIVING PRO EFFECT FORMA TO PER BOOK ADJ. ADJ. Long-term debt* $ 334,000 $ $ 334,000 Common shareholders' stock equity 2,210,521 (4,749) b 2,205,772 --------- ------- ---------- Total Capitalization $2,544,521 $(4,749) $2,539,772 ========== ======= ==========
*Does not include current portion. NORTHEAST UTILITIES PARENT 2.2 PRO FORMA ADJUSTMENTS TO FINANCIAL STATEMENTS - CALCULATIONS (Thousands of Dollars) Debit Credit a) Cash 351,000 Notes payable to banks 351,000 To record the issuance of additional short-term debt. b) Other interest 7,915 Accrued taxes 3,166 Accrued interest 7,915 Income tax expense 3,166 To record interest expense associated with increased level of short-term debt and related tax effect.