EX-99 2 nuschedk1122304.txt EXHIBIT K.1 FINANCIALS Schedule K.1
Northeast Utilities Consolidated Quarterly Capitalization Ratios September 30, 2004 to December 31, 2007 (1) Actual Projected Projected Projected Projected Projected Projected Projected Projected 09/30/2004 12/31/2004 03/31/2005 06/30/2005 09/30/2005 12/31/2005 03/31/2006 06/30/2006 09/30/2006 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- SEC 30% Test (with Rate Reduction Bonds) ----------------------- Short-Term Debt 1,043 4,448 61,966 119,484 177,001 234,519 223,910 213,302 202,693 Long-Term Debt 2,928,657 2,955,134 2,996,818 3,038,501 3,080,185 3,121,869 3,170,517 3,219,165 3,267,813 Preferred Stock 116,200 116,200 116,200 116,200 116,200 116,200 116,200 116,200 116,200 ------------------------------------------------------------------------------------------------ Other Debt and Preferred 3,045,900 3,075,782 3,174,984 3,274,185 3,373,386 3,472,588 3,510,627 3,548,666 3,586,705 Stock Rate Reduction Bonds 1,591,944 1,546,490 1,496,152 1,449,761 1,399,143 1,350,502 1,296,693 1,247,175 1,193,192 Common Equity 2,318,909 2,331,366 2,354,281 2,377,196 2,400,111 2,423,026 2,498,217 2,573,409 2,648,600 ------------------------------------------------------------------------------------------------ Total Capitalization 6,956,753 6,953,638 7,025,416 7,101,142 7,172,641 7,246,116 7,305,537 7,369,249 7,428,497 ================================================================================================ Other Debt and Preferred 43.8% 44.2% 45.2% 46.1% 47.0% 47.9% 48.1% 48.2% 48.3% Stock Rate Reduction Bonds 22.9% 22.2% 21.3% 20.4% 19.5% 18.6% 17.7% 16.9% 16.1% Common Equity 33.3% 33.5% 33.5% 33.5% 33.5% 33.4% 34.2% 34.9% 35.7% ------------------------------------------------------------------------------------------------ Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% ================================================================================================
Northeast Utilities Consolidated Quarterly Capitalization Ratios September 30, 2004 to December 31, 2007 (1) Projected Projected Projected Projected Projected 12/31/2006 03/31/2007 06/30/2007 09/30/2007 12/31/2007 ---------- ---------- ---------- ---------- ---------- SEC 30% Test (with Rate Reduction Bonds) ----------------------- Short-Term Debt 192,084 226,276 260,468 294,660 328,852 Long-Term Debt 3,316,460 3,370,201 3,423,943 3,477,684 3,531,425 Preferred Stock 116,200 116,200 116,200 116,200 116,200 ------------------------------------------------------ Other Debt and Preferred 3,624,744 3,712,677 3,800,611 3,888,544 3,976,477 Stock Rate Reduction Bonds 1,141,123 1,083,768 1,030,788 973,187 917,436 Common Equity 2,723,791 2,752,630 2,781,468 2,810,307 2,839,145 ----------------------------------------------------- Total Capitalization 7,489,659 7,549,075 7,612,866 7,672,037 7,733,058 ===================================================== Other Debt and Preferred 48.4% 49.2% 49.9% 50.7% 51.4% Stock Rate Reduction Bonds 15.2% 14.4% 13.5% 12.7% 11.9% Common Equity 36.4% 36.5% 36.5% 36.6% 36.7% ------------------------------------------------ Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% =================================================
Actual Projected Projected Projected Projected Projected Projected Projected Projected 09/30/2004 12/31/2004 03/31/2005 06/30/2005 09/30/2005 12/31/2005 03/31/2006 06/30/2006 09/30/2006 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Capitalization Without Rate Reduction Bonds --------------------------- Short-Term Debt 1,043 4,448 61,966 119,484 177,001 234,519 223,910 213,302 202,693 Long-Term Debt 2,928,657 2,955,134 2,996,818 3,038,501 3,080,185 3,121,869 3,170,517 3,219,165 3,267,813 Preferred Stock 116,200 116,200 116,200 116,200 116,200 116,200 116,200 116,200 116,200 ------------------------------------------------------------------------------------------------ Other Debt and Preferred 3,045,900 3,075,782 3,174,984 3,274,185 3,373,386 3,472,588 3,510,627 3,548,666 3,586,705 Stock Common Equity 2,318,909 2,331,366 2,354,281 2,377,196 2,400,111 2,423,026 2,498,217 2,573,409 2,648,600 ------------------------------------------------------------------------------------------------ Total Capitalization 5,364,809 5,407,148 5,529,265 5,651,381 5,773,497 5,895,614 6,008,844 6,122,075 6,235,305 ================================================================================================ Other Debt and Preferred Sto 56.8% 56.9% 57.4% 57.9% 58.4% 58.9% 58.4% 58.0% 57.5% Rate Reduction Bonds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Common Equity 43.2% 43.1% 42.6% 42.1% 41.6% 41.1% 41.6% 42.0% 42.5% ------------------------------------------------------------------------------------------------ Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% ================================================================================================
Projected Projected Projected Projected Projected 12/31/2006 03/31/2007 06/30/2007 09/30/2007 12/31/2007 ---------- ---------- ---------- ---------- ---------- Capitalization Without Rate Reduction Bonds --------------------------- Short-Term Debt 192,084 226,276 260,468 294,660 328,852 Long-Term Debt 3,316,460 3,370,201 3,423,943 3,477,684 3,531,425 Preferred Stock 116,200 116,200 116,200 116,200 116,200 ----------------------------------------------------- Other Debt and Preferred 3,624,744 3,712,677 3,800,611 3,888,544 3,976,477 Stock Common Equity 2,723,791 2,752,630 2,781,468 2,810,307 2,839,145 ----------------------------------------------------- Total Capitalization 6,348,535 6,465,307 6,582,079 6,698,850 6,815,622 ===================================================== Other Debt and Preferred Sto 57.1% 57.4% 57.7% 58.0% 58.3% Rate Reduction Bonds 0.0% 0.0% 0.0% 0.0% 0.0% Common Equity 42.9% 42.6% 42.3% 42.0% 41.7% ------------------------------------------------------ Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% =======================================================
(1) The Company's September 2004 5-Year Forecast is the source of projected year-end data. Projected quarterly data is derived on a straight-line basis from the year-end data, with the exception of Rate Reduction Bond balances that could be taken from fixed amortization schedules. Schedule K.1
The Connecticut Light and Power Company Quarterly Capitalization Ratios September 30, 2004 to December 31, 2007 (1) Actual Projected Projected Projected Projected Projected Projected Projected Projected 09/30/2004 12/31/2004 03/31/2005 06/30/2005 09/30/2005 12/31/2005 03/31/2006 06/30/2006 09/30/2006 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- SEC 30% Test (with Rate Reduction Bonds) ----------------------- Short-Term Debt 46,225 51,992 53,714 55,435 57,157 58,878 61,616 64,354 67,092 Long-Term Debt 1,051,922 1,053,356 1,092,019 1,130,682 1,169,344 1,208,007 1,256,992 1,305,976 1,354,961 Preferred Stock 116,200 116,200 116,200 116,200 116,200 116,200 116,200 116,200 116,200 -------------------------------------------------------------------------------------------------- Other Debt and Preferred 1,214,347 1,221,548 1,261,932 1,302,317 1,342,701 1,383,085 1,434,808 1,486,530 1,538,253 Stock Rate Reduction Bonds 1,026,389 995,233 958,485 926,870 890,009 856,479 817,304 783,262 743,899 Common Equity 786,028 852,894 886,582 920,271 953,959 987,647 1,021,830 1,056,012 1,090,195 ------------------------------------------------------------------------------------------------ Total Capitalization 3,026,764 3,069,675 3,106,999 3,149,457 3,186,669 3,227,211 3,273,941 3,325,804 3,372,346 ------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------ Other Debt and Preferred 40.1% 39.8% 40.6% 41.4% 42.1% 42.9% 43.8% 44.7% 45.6% Stock Rate Reduction Bonds 33.9% 32.4% 30.8% 29.4% 27.9% 26.5% 25.0% 23.6% 22.1% Common Equity 26.0% 27.8% 28.5% 29.2% 29.9% 30.6% 31.2% 31.8% 32.3% ------------------------------------------------------------------------------------------------ Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% ------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------
The Connecticut Light and Power Company Quarterly Capitalization Ratios September 30, 2004 to December 31, 2007 (1) Projected Projected Projected Projected Projected 12/31/2006 03/31/2007 06/30/2007 09/30/2007 12/31/2007 ---------- ---------- --------- ---------- ---------- SEC 30% Test (with Rate Reduction Bonds) ----------------------- Short-Term Debt 69,830 68,794 67,758 66,721 65,685 Long-Term Debt 1,403,945 1,451,817 1,499,690 1,547,562 1,595,434 Preferred Stock 116,200 116,200 116,200 116,200 116,200 ------------------------------------------------------ Other Debt and Preferred 1,589,975 1,636,811 1,683,647 1,730,483 1,777,319 Stock Rate Reduction Bonds 707,864 666,103 629,488 587,443 548,686 Common Equity 1,124,377 1,169,456 1,214,536 1,259,615 1,304,694 ----------------------------------------------------- Total Capitalization 3,422,216 3,472,370 3,527,671 3,577,541 3,630,699 ----------------------------------------------------- ----------------------------------------------------- Other Debt and Preferred 46.5% 47.1% 47.7% 48.4% 49.0% Stock Rate Reduction Bonds 20.7% 19.2% 17.8% 16.4% 15.1% Common Equity 32.9% 33.7% 34.4% 35.2% 35.9% --------------------------------------------------- Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% --------------------------------------------------- ---------------------------------------------------
Capitalization Without Rate Reduction Bonds --------------------------- Actual Projected Projected Projected Projected Projected Projected Projected Projected 09/30/2004 12/31/2004 03/31/2005 06/30/2005 09/30/2005 12/31/2005 03/31/2006 06/30/2006 09/30/2006 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Short-Term Debt 46,225 51,992 53,714 55,435 57,157 58,878 61,616 64,354 67,092 Long-Term Debt 1,051,922 1,053,356 1,092,019 1,130,682 1,169,344 1,208,007 1,256,992 1,305,976 1,354,961 Preferred Stock 116,200 116,200 116,200 116,200 116,200 116,200 116,200 116,200 116,200 -------------------------------------------------------------------------------------------------- Other Debt and Preferred 1,214,347 1,221,548 1,261,932 1,302,317 1,342,701 1,383,085 1,434,808 1,486,530 1,538,253 Stock Common Equity 786,028 852,894 886,582 920,271 953,959 987,647 1,021,830 1,056,012 1,090,195 -------------------------------------------------------------------------------------------------- Total Capitalization 2,000,375 2,074,442 2,148,515 2,222,587 2,296,660 2,370,732 2,456,637 2,542,542 2,628,447 -------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- Other Debt and Preferred 60.7% 58.9% 58.7% 58.6% 58.5% 58.3% 58.4% 58.5% 58.5% Stock Rate Reduction Bonds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Common Equity 39.3% 41.1% 41.3% 41.4% 41.5% 41.7% 41.6% 41.5% 41.5% -------------------------------------------------------------------------------------------------- Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% -------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------
Capitalization Without Rate Reduction Bonds --------------------------- Projected Projected Projected Projected Projected 12/31/2006 03/31/2007 06/30/2007 09/30/2007 12/31/2007 ---------- ---------- --------- ---------- ---------- Short-Term Debt 69,830 68,794 67,758 66,721 65,685 Long-Term Debt 1,403,945 1,451,817 1,499,690 1,547,562 1,595,434 Preferred Stock 116,200 116,200 116,200 116,200 116,200 ------------------------------------------------------ Other Debt and Preferred 1,589,975 1,636,811 1,683,647 1,730,483 1,777,319 Stock Common Equity 1,124,377 1,169,456 1,214,536 1,259,615 1,304,694 ----------------------------------------------------- Total Capitalization 2,714,352 2,806,267 2,898,183 2,990,098 3,082,013 ----------------------------------------------------- ----------------------------------------------------- Other Debt and Preferred 58.6% 58.3% 58.1% 57.9% 57.7% Stock Rate Reduction Bonds 0.0% 0.0% 0.0% 0.0% 0.0% Common Equity 41.4% 41.7% 41.9% 42.1% 42.3% ----------------------------------------------------- Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% ----------------------------------------------------- ----------------------------------------------------- (1) The Company's September 2004 5-Year Forecast is the source of projected year-end data. Projected quarterly data is derived on a straight-line basis from the year-end data, with the exception of Rate Reduction Bond balances that could be taken from fixed amortization schedules.
Schedule K.1
Public Service Company of New Hampshire Quarterly Capitalization Ratios September 30, 2004 to December 31, 2007 (1) Actual Projected Projected Projected Projected Projected Projected Projected Projected 09/30/2004 12/31/2004 03/31/2005 06/30/2005 09/30/2005 12/31/2005 03/31/2006 06/30/2006 09/30/2006 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- SEC 30% Test (with Rate Reduction Bonds) ----------------------- Short-Term Debt 22,900 25,873 30,397 34,920 39,444 43,967 46,961 49,955 52,949 Long-Term Debt 457,188 457,284 462,284 467,284 472,284 477,284 481,034 484,785 488,535 Preferred Stock 0 0 0 0 0 0 0 0 0 ---------------------------------------------------------------------------------------------- Other Debt and Preferred 480,088 483,157 492,681 502,204 511,728 521,251 527,995 534,740 541,484 Stock Rate Reduction Bonds 440,476 428,769 418,055 406,068 395,035 382,692 371,121 358,620 346,909 Common Equity 397,908 396,209 403,949 411,690 419,430 427,170 432,738 438,305 443,873 --------------------------------------------------------------------------------------------- Total Capitalization 1,318,472 1,308,135 1,314,685 1,319,962 1,326,193 1,331,113 1,331,854 1,331,664 1,332,265 =============================================================================================== Other Debt and Preferred 36.4% 36.9% 37.5% 38.0% 38.6% 39.2% 39.6% 40.2% 40.6% Stock Rate Reduction Bonds 33.4% 32.8% 31.8% 30.8% 29.8% 28.7% 27.9% 26.9% 26.0% Common Equity 30.2% 30.3% 30.7% 31.2% 31.6% 32.1% 32.5% 32.9% 33.3% ---------------------------------------------------------------------------------------------- Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% =================================================================================================
Public Service Company of New Hampshire Quarterly Capitalization Ratios September 30, 2004 to December 31, 2007 (1) Projected Projected Projected Projected Projected 12/31/2006 03/31/2007 06/30/2007 09/30/2007 12/31/2007 ---------- ---------- ---------- ---------- ---------- SEC 30% Test (with Rate Reduction Bonds) ----------------------- Short-Term Debt 55,943 58,428 60,913 63,397 65,882 Long-Term Debt 492,285 497,285 502,285 507,285 512,285 Preferred Stock 0 0 0 0 0 ------------------------------------------------------ Other Debt and Preferred 548,228 555,713 563,198 570,682 578,167 Stock Rate Reduction Bonds 333,831 321,497 308,304 295,856 282,018 Common Equity 449,440 455,710 461,981 468,251 474,521 ----------------------------------------------------- Total Capitalization 1,331,499 1,332,920 1,333,482 1,334,789 1,334,706 ===================================================== Other Debt and Preferred 41.2% 41.7% 42.2% 42.8% 43.3% Stock Rate Reduction Bonds 25.1% 24.1% 23.1% 22.2% 21.1% Common Equity 33.8% 34.2% 34.6% 35.1% 35.6% ----------------------------------------------------- Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% =====================================================
Actual Projected Projected Projected Projected Projected Projected Projected Projected 09/30/2004 12/31/2004 03/31/2005 06/30/2005 09/30/2005 12/31/2005 03/31/2006 06/30/2006 09/30/2006 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Capitalization Without Rate Reduction Bonds --------------------------- Short-Term Debt 22,900 25,873 30,397 34,920 39,444 43,967 46,961 49,955 52,949 Long-Term Debt 457,188 457,284 462,284 467,284 472,284 477,284 481,034 484,785 488,535 Preferred Stock 0 0 0 0 0 0 0 0 0 ------------------------------------------------------------------------------------------------ Other Debt and Preferred 480,088 483,157 492,681 502,204 511,728 521,251 527,995 534,740 541,484 Stock Common Equity 397,908 396,209 403,949 411,690 419,430 427,170 432,738 438,305 443,873 ------------------------------------------------------------------------------------------------ Total Capitalization 877,996 879,366 896,630 913,894 931,157 948,421 960,733 973,045 985,356 ================================================================================================ Other Debt and Preferred 54.7% 54.9% 54.9% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% Stock Rate Reduction Bonds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Common Equity 45.3% 45.1% 45.1% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% ------------------------------------------------------------------------------------------------- Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% ===================================================================================================
Projected Projected Projected Projected Projected 12/31/2006 03/31/2007 06/30/2007 09/30/2007 12/31/2007 ---------- ---------- ---------- ---------- ---------- Capitalization Without Rate Reduction Bonds --------------------------- Short-Term Debt 55,943 58,428 60,913 63,397 65,882 Long-Term Debt 492,285 497,285 502,285 507,285 512,285 Preferred Stock 0 0 0 0 0 ----------------------------------------------------- Other Debt and Preferred 548,228 555,713 563,198 570,682 578,167 Stock Common Equity 449,440 455,710 461,981 468,251 474,521 ---------------------------------------------------- Total Capitalization 997,668 1,011,423 1,025,178 1,038,933 1,052,688 ==================================================== Other Debt and Preferred 55.0% 54.9% 54.9% 54.9% 54.9% Stock Rate Reduction Bonds 0.0% 0.0% 0.0% 0.0% 0.0% Common Equity 45.0% 45.1% 45.1% 45.1% 45.1% ----------------------------------------------------- Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% ==================================================== (1) The Company's September 2004 5-Year Forecast is the source of projected year-end data. Projected quarterly data is derived on a straight-line basis from the year-end data, with the exception of Rate Reduction Bond balances that could be taken from fixed amortization schedules.
Schedule K.1
Western Massachusetts Electric Company Quarterly Capitalization Ratios September 30, 2004 to December 31, 2007 (1) Actual Projected Projected Projected Projected Projected Projected Projected Projected 09/30/2004 12/31/2004 03/31/2005 06/30/2005 09/30/2005 12/31/2005 03/31/2006 06/30/2006 09/30/2006 SEC 30% Test (with Rate Reduction Bonds) ----------------------- Short-Term Debt 34,200 41,898 38,332 34,765 31,199 27,632 29,829 32,025 34,222 Long-Term Debt 207,451 209,877 217,636 225,394 233,152 240,911 241,245 241,579 241,913 Preferred Stock 0 0 0 0 0 0 0 0 0 ----------------------------------------------------------------------------------------------- Other Debt and Preferred 241,651 251,775 255,967 260,159 264,351 268,543 271,073 273,604 276,134 Stock Rate Reduction Bonds 125,078 122,489 119,612 116,823 114,098 111,331 108,268 105,293 102,384 Common Equity 162,225 164,979 168,208 171,437 174,666 177,895 179,675 181,454 183,234 ---------------------------------------------------------------------------------------------- Total Capitalization 528,954 539,243 543,787 548,419 553,115 557,769 559,015 560,351 561,751 ============================================================================================== Other Debt and Preferred 45.7% 46.7% 47.1% 47.4% 47.8% 48.1% 48.5% 48.8% 49.2% Stock Rate Reduction Bonds 23.6% 22.7% 22.0% 21.3% 20.6% 20.0% 19.4% 18.8% 18.2% Common Equity 30.7% 30.6% 30.9% 31.3% 31.6% 31.9% 32.1% 32.4% 32.6% ---------------------------------------------------------------------------------------------- Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% ==============================================================================================
Western Massachusetts Electric Company Quarterly Capitalization Ratios September 30, 2004 to December 31, 2007 (1) Projected Projected Projected Projected Projected 12/31/2006 03/31/2007 06/30/2007 09/30/2007 12/31/2007 SEC 30% Test (with Rate Reduction Bonds) ----------------------- Short-Term Debt 36,418 38,866 41,314 43,762 46,210 Long-Term Debt 242,246 242,613 242,979 243,345 243,712 Preferred Stock 0 0 0 0 0 -------------------------------------------------- Other Debt and Preferred 278,664 281,479 284,293 287,107 289,922 Stock Rate Reduction Bonds 99,428 96,168 92,995 89,888 86,731 Common Equity 185,013 187,039 189,066 191,092 193,118 --------------------------------------------------- Total Capitalization 563,106 564,686 566,353 568,087 569,771 =================================================== Other Debt and Preferred 49.5% 49.8% 50.2% 50.5% 50.9% Stock Rate Reduction Bonds 17.7% 17.0% 16.4% 15.8% 15.2% Common Equity 32.9% 33.1% 33.4% 33.6% 33.9% -------------------------------------------------- Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% ==================================================
Actual Projected Projected Projected Projected Projected Projected Projected Projected 09/30/2004 12/31/2004 03/31/2005 06/30/2005 09/30/2005 12/31/2005 03/31/2006 06/30/2006 09/30/2006 Capitalization Without Rate Reduction Bonds ---------------------- Short-Term Debt 34,200 41,898 38,332 34,765 31,199 27,632 29,829 32,025 34,222 Long-Term Debt 207,451 209,877 217,636 225,394 233,152 240,911 241,245 241,579 241,913 Preferred Stock 0 0 0 0 0 0 0 0 0 ---------------------------------------------------------------------------------------------- Other Debt and Preferred 241,651 251,775 255,967 260,159 264,351 268,543 271,073 273,604 276,134 Stock Common Equity 162,225 164,979 168,208 171,437 174,666 177,895 179,675 181,454 183,234 ---------------------------------------------------------------------------------------------- Total Capitalization 403,876 416,754 424,175 431,596 439,017 446,438 450,748 455,058 459,368 ============================================================================================== Other Debt and Preferred 59.8% 60.4% 60.3% 60.3% 60.2% 60.2% 60.1% 60.1% 60.1% Stock Rate Reduction Bonds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Common Equity 40.2% 39.6% 39.7% 39.7% 39.8% 39.8% 39.9% 39.9% 39.9% ----------------------------------------------------------------------------------------------- Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% ===============================================================================================
Projected Projected Projected Projected Projected 12/31/2006 03/31/2007 06/30/2007 09/30/2007 12/31/2007 Capitalization Without Rate Reduction Bonds ---------------------- Short-Term Debt 36,418 38,866 41,314 43,762 46,210 Long-Term Debt 242,246 242,613 242,979 243,345 243,712 Preferred Stock 0 0 0 0 0 --------------------------------------------------- Other Debt and Preferred 278,664 281,479 284,293 287,107 289,922 Stock Common Equity 185,013 187,039 189,066 191,092 193,118 -------------------------------------------------- Total Capitalization 463,677 468,518 473,359 478,199 483,040 ================================================== Other Debt and Preferred 60.1% 60.1% 60.1% 60.0% 60.0% Stock Rate Reduction Bonds 0.0% 0.0% 0.0% 0.0% 0.0% Common Equity 39.9% 39.9% 39.9% 40.0% 40.0% --------------------------------------------------- Total Capitalization 100.0% 100.0% 100.0% 100.0% 100.0% =================================================== (1) The Company's September 2004 5-Year Forecast is the source of projected year-end data. Projected quarterly data is derived on a straight-line basis from the year-end data, with the exception of Rate Reduction Bond balances that could be taken from fixed amortization schedules.