EX-99 6 exh996nuei.txt NUEI FINANCIALS NU ENTERPRISES, INC. AND SUBSIDIARIES 1.6a PRO FORMA CONSOLIDATED BALANCE SHEET -- ASSETS AS OF SEPTEMBER 30, 2003 Unaudited (Thousands of Dollars)
PRO FORMA GIVING PRO EFFECT FORMA TO PER BOOK ADJ. ADJ. Current Assets: Cash and cash equivalents $ 44,778 $ 0 a,c,e$ 44,778 Receivables, net 391,227 391,227 Accounts receivable from affiliated companies 211,666 211,666 Unbilled revenues 36,306 36,306 Taxes receivable 3,448 17,935 b,d,f 21,383 Notes receivable from affiliated companies 35,900 35,900 Fuel, materials and supplies, at average cost 29,421 29,421 Special deposits 105,811 105,811 Prepayments and other 131,598 131,598 --------------- --------------- --------------- 990,155 17,935 1,008,090 --------------- --------------- --------------- Property, Plant and Equipment: Competitive energy 849,739 560,000 e 1,409,739 Less: Accumulated depreciation 45,343 14,000 f 59,343 --------------- --------------- --------------- 804,396 546,000 1,350,396 Construction work in progress 14,696 14,696 --------------- --------------- --------------- 819,092 546,000 1,365,092 --------------- --------------- --------------- Deferred Debits and Other Assets: Other 229,065 229,065 --------------- --------------- --------------- 229,065 0 229,065 --------------- --------------- --------------- Total Assets $ 2,038,312 $ 563,935 $ 2,602,247 =============== =============== ===============
NU ENTERPRISES, INC. AND SUBSIDIARIES 1.6b PRO FORMA CONSOLIDATED BALANCE SHEET -- LIABILITIES AND CAPITALIZATION AS OF SEPTEMBER 30, 2003 Unaudited (Thousands of Dollars)
PRO FORMA GIVING PRO EFFECT FORMA TO PER BOOK ADJ. ADJ. Current Liabilities: Notes payable to affiliated companies $ $ 287,000 a $ Long-term debt - current portion 33,954 Accounts payable 421,617 Accounts payable to affiliated companies 26,933 Accrued interest 15,629 23,837 b,d Other 146,989 --------------- --------------- --------------- 762,697 310,837 1,073,534 --------------- --------------- --------------- Deferred Credits and Other Liabilities: Accumulated deferred income taxes 40,428 2,800 f Other 7,261 --------------- --------------- --------------- 47,689 2,800 50,489 --------------- --------------- --------------- Capitalization: Long-Term Debt 654,072 273,000 c --------------- --------------- --------------- Common Shareholders' Equity: Capital surplus, paid in 675,892 Accumulated deficit (102,038) (22,702) --------------- --------------- --------------- Common Shareholders' Equity 573,854 (22,702) 551,152 --------------- --------------- --------------- Total Capitalization 1,227,926 250,298 1,478,224 --------------- --------------- --------------- Total Liabilities and Capitalization $ 2,038,312 $ 563,935 $ 2,602,247 =============== =============== ===============
NU ENTERPRISES, INC. AND SUBSIDIARIES 1.6c PRO FORMA CONSOLIDATED STATEMENT OF INCOME FOR THE 12 MONTHS ENDED SEPTEMBER 30, 2003 Unaudited (Thousands of Dollars)
PRO FORMA GIVING PRO EFFECT FORMA TO PER BOOK ADJ. ADJ. Operating Revenues $ 3,002,804 $ $ 3,002,804 --------------- --------------- --------------- Operating Expenses: Purchased power, net interchange power and capacity 2,589,770 2,589,770 Depreciation and amortization 18,821 14,000 f 32,821 Taxes other than income taxes 15,674 15,674 Other 315,462 315,462 --------------- --------------- --------------- Total operating expenses 2,939,727 14,000 2,953,727 --------------- --------------- --------------- Operating Income/(Loss) 63,077 (14,000) 49,077 Interest and Financing Costs 47,431 23,837 b,d 71,268 Other Income, Net 4,664 4,664 --------------- --------------- --------------- Income Before Income Tax Expense/(Benefit) 20,310 (37,837) (17,527) Income Tax Expense/(Benefit) 9,806 (15,135)b,d,f (5,329) --------------- --------------- --------------- Net Loss $ 10,504 $ (22,702) $ (12,198) =============== =============== ===============
NU ENTERPRISES, INC. AND SUBSIDIARIES 1.6d PRO FORMA CONSOLIDATED STATEMENT OF ACCUMULATED DEFICIT AS OF SEPTEMBER 30, 2003 Unaudited (Thousands of Dollars)
PRO FORMA GIVING PRO EFFECT FORMA TO PER BOOK ADJ. ADJ. Balance at beginning of period $ (112,542) $ $ (112,542) Net income/(loss) 10,504 (22,702) (12,198) --------------- --------------- --------------- Balance at end of period $ (102,038) $ (22,702) $ (124,740) =============== =============== ===============
NU ENTERPRISES, INC. AND SUBSIDIARIES 1.6e PRO FORMA CONSOLIDATED CAPITALIZATION AS OF SEPTEMBER 30, 2003 Unaudited (Thousands of Dollars)
PRO FORMA GIVING PRO EFFECT FORMA TO PER BOOK ADJ. ADJ. Long-term debt* $ 654,072 $ 273,000 $ 927,072 Common shareholders' equity 573,854 (22,702) 551,152 --------------- --------------- --------------- Total Capitalization $ 1,227,926 $ 250,298 $ 1,478,224 =============== =============== ===============
*Does not include current portion NU ENTERPRISES, INC. AND SUBSIDIARIES 1.6f PRO FORMA ADJUSTMENTS TO CONSOLIDATED FINANCIAL STATEMENTS (Thousands of Dollars) Debit Credit a)Cash and cash equivalents 287,000 Notes payable to affiliated companies 287,000 To record notes payable to affiliated companies to finance additional EWG investments. b)Interest and financing costs 5,955 Taxes receivable 2,382 Accrued interest 5,955 Income tax expense/(benefit) 2,382 To record interest expense associated with notes payable to affiliated companies and related tax effect. c)Cash and cash equivalents 273,000 Long-term debt 273,000 To record issuance of long-term debt to finance additional EWG investments. d)Interest and financing costs 17,882 Taxes receivable 7,153 Accrued interest 17,882 Income tax expense/(benefit) 7,153 To record interest expense associated with long-term debt issued and related tax effect. e)Property, plant and equipment - competitive energy 560,000 Cash and cash equivalents 560,000 To record additional EWG investment. f)Depreciation and amortization expense 14,000 Taxes receivable 8,400 Income tax expense/(benefit) - deferred 2,800 Accumulated depreciation 14,000 Income tax expense/(benefit) - current 8,400 Accumulated deferred income taxes 2,800 To record depreciation expense associated with additional EWG investment and related tax effects.