-----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, A+Bz5Blv820TKZrUYW1woPhPXnXkqwf+Ob5jrLketPS1jjLhPjtlrbhxSHcJI6hw N/HXm5eHW/kG5JG8qhsYIg== 0001004155-00-000007.txt : 20000307 0001004155-00-000007.hdr.sgml : 20000307 ACCESSION NUMBER: 0001004155-00-000007 CONFORMED SUBMISSION TYPE: U-3A-2 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19991231 FILED AS OF DATE: 20000301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AGL RESOURCES INC CENTRAL INDEX KEY: 0001004155 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 582210952 STATE OF INCORPORATION: GA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: U-3A-2 SEC ACT: SEC FILE NUMBER: 069-00430 FILM NUMBER: 558838 BUSINESS ADDRESS: STREET 1: 817 WEST PEACHTREE ST STREET 2: 10TH FLOOR CITY: ATLANTA STATE: GA ZIP: 30308 BUSINESS PHONE: 4045849470 MAIL ADDRESS: STREET 1: 303 PEACHTREE ST STREET 2: STE 400 CITY: ATLANTA STATE: GA ZIP: 30308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ATLANTA GAS LIGHT CO CENTRAL INDEX KEY: 0000008154 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 580145925 STATE OF INCORPORATION: GA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: U-3A-2 SEC ACT: SEC FILE NUMBER: 069-00430-01 FILM NUMBER: 558839 BUSINESS ADDRESS: STREET 1: 303 PEACHTREE ST NE STREET 2: ONE PEACHTREE CENTER CITY: ATLANTA STATE: GA ZIP: 30308 BUSINESS PHONE: 4045844000 MAIL ADDRESS: STREET 1: 303 PEACHTREE ST NE STREET 2: ONE PEACHTREE CENTER SUITE 5300 CITY: ATLANTA STATE: GA ZIP: 30308 U-3A-2 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form U-3A-2 File No. . . . . .69-348 Statement by Holding Company Claiming Exemption Under Rule U-3A-2 from the Provisions of the Public Utility Holding Company Act of 1935 To be Filed Annually Prior to March 1 AGL RESOURCES INC. and ATLANTA GAS LIGHT COMPANY (Name of Company) hereby file with the Securities and Exchange Commission, pursuant to Rule 2, their respective statements claiming exemption as holding companies from the provisions of the Public Utility Holding Company Act of 1935, and submit the following information: AGL RESOURCES INC. 1. Name, State of organization, location and nature of business of claimant and every subsidiary thereof, other than any exempt wholesale generator (EWG) or foreign utility company in which claimant directly or indirectly holds an interest. AGL Resources Inc. (AGL Resources) is a Georgia corporation, which was incorporated on November 27, 1995. Its principal executive offices are located at 817 West Peachtree Street, N.W., Atlanta, Georgia 30308. AGL Resources is the holding company for: (a) Atlanta Gas Light Company ("AGLC") and its wholly-owned subsidiary, Chattanooga Gas Company ("Chattanooga"), which are natural gas local distribution utilities; (b) AGL Energy Services, Inc. ("AGLE"), a gas supply services company; and (c) Several non-utility subsidiaries. AGLC is a Georgia corporation. It is a regulated utility, which conducts its primary business, the distribution of natural gas, in Georgia including the Atlanta, Athens, Augusta, Brunswick, Macon, Rome, Savannah, and Valdosta areas. AGLC has one regulated natural gas utility subsidiary, Chattanooga, a Tennessee corporation. Chattanooga operates a natural gas distribution system in the Chattanooga and Cleveland areas of Tennessee. AGLE, a Georgia corporation, is a nonregulated company that bought and sold the natural gas which was supplied to AGLC's customers during the deregulation transition period to full competition in Georgia. Currently, AGLE buys and sells natural gas for Chattanooga's customers. For financial reporting purposes, AGLE is considered a subsidiary of AGLC. Therefore, AGLE will be reported as a subsidiary of the claimant, AGLC, for this reporting period. AGLE has one subsidiary, Georgia Gas Company, a Georgia corporation, which has minor interests in natural gas production activities. AGL Resources currently owns or has an interest in the following non-utility businesses, each of which are Georgia Corporations: (a) SouthStar Energy Services LLC ("SouthStar"), a joint venture among a subsidiary of AGL Resources Inc. and subsidiaries of Dynegy Holdings, Inc. and Piedmont Natural Gas Company. SouthStar markets natural gas and related services to residential and small commercial customers in Georgia and to industrial customers in the Southeast. SouthStar began marketing natural gas to customers in Georgia during the quarter beginning October 1, 1998, under the trade name "Georgia Natural Gas Services;" (b) AGL Investments, Inc., (AGLI) which currently manages certain non-utility businesses. Each of AGLI's subsidiaries are Georgia corporations: (1) AGL Propane, Inc., which engages in the sale of propane and related products and services in Georgia, Alabama, Tennessee and North Carolina; (2) Trustees Investments, Inc., which owns Trustees Gardens, a residential and retail development located in Savannah, Georgia; and (3) Utilipro, Inc. ("Utilipro"), in which AGL Resources has an 85% ownership interest and which engages in the sale of integrated customer care solutions and billing services to energy marketers in the United States and Canada; (c) AGL Peaking Services, Inc., which owns a 50% interest in Etowah LNG Company LLC, a joint venture with Southern Natural Gas Company. Etowah was formed for the purpose of constructing, owning, and operating a liquefied natural gas peaking facility. 2 2. A brief description of the properties of claimant and each of its subsidiary public utility companies used for the generation, transmission, and distribution of electric energy for sale, or for the production, transmission and distribution of natural or manufactured gas, indicating the location of principal generating plants, transmission lines, producing fields, gas manufacturing plants, and electric and gas distribution facilities, including all such properties which are outside the State in which claimant and its subsidiaries are organized and all transmission or pipelines which deliver or receive electric energy or gas at the borders of such State. AGL Resources' properties consist primarily of the utility properties of AGLC. AGLC's properties consist primarily of natural gas distribution systems and related facilities and local offices serving 237 cities and surrounding areas in the State of Georgia. As of December 31, 1999, AGLC had approximately 30,000 miles of mains, 5,950,000 Mcf. of liquefied natural gas ("LNG") storage capacity in three LNG plants located in Georgia and 96,000 gallons of liquefied petroleum gas storage capacity in one peak shaving plant located in Georgia. AGLC's wholly-owned subsidiary, Chattanooga, operates a natural gas distribution system and related facilities and local offices in 13 cities and surrounding areas in the State of Tennessee. As of December 31, 1999, Chattanooga had 1,420 miles of mains and 1,080,000 Mcf. of LNG storage capacity in its one LNG plant located in Tennessee. 3. The following information for the last calendar year with respect to claimant and each of its subsidiary public utility companies: (a) Number of kwh. of electric energy sold (at retail or wholesale), and Mcf. of natural or manufactured gas distributed at retail. Claimant Subsidiary AGL Resources Inc. Atlanta Gas Light Company (including Chattanooga) None 87,938,100 Mcf. $531.3 million Gas sold and transported by AGLC and Chattanooga. 92,772,529 Mcf. $334.7 million Gas delivered to end-use customers by AGLC on behalf of certificated marketers. 3 (b) Number of kwh. of electric energy and Mcf. of natural or manufactured gas distributed at retail outside the State in which each company is organized. Claimant Subsidiary AGL Resources Inc. Atlanta Gas Light Company (including Chattanooga) NA NA (c) Number of kwh. of electric energy and Mcf. of natural or manufactured gas sold at wholesale outside the State in which each such company is organized, or at the State line. Claimant Subsidiary AGL Resources Inc. Atlanta Gas Light Company (including Chattanooga) NA NA (d) Number of kwh. of electric energy and Mcf. of natural or manufactured gas purchased outside the State in which each such company is organized or at the State line. Claimant Subsidiary AGL Resources Inc. Atlanta Gas Light Company (including Chattanooga) Purchased at State Line Purchased at State Line or at City Gate or at City Gate Metering Stations Metering Stations in Georgia or Tennessee in Georgia or Tennessee NA 3,407,663 Mcf. Purchased outside the Purchased outside the State of Georgia States of Georgia and Tennessee NA 87,033,685 Mcf. 4 4. The following information for the reporting period with respect to claimant and each interest it holds directly or indirectly in an EWG or a foreign utility company, stating monetary amounts in United States dollars: (a) Name, location, business address and description of the facilities used by the EWG or foreign utility company for the generation, transmission and distribution of electric energy for sale or for the distribution at retail of natural or manufactured gas. Claimant Subsidiary AGL Resources Inc. Atlanta Gas Light Company (including Chattanooga) None None (b) Name of each system company that holds an interest in foreign utility company; and description of the interest held. Claimant Subsidiary AGL Resources Inc. Atlanta Gas Light Company (including Chattanooga) None None (c) Type and amount of capital invested, directly or indirectly, by the holding company claiming exemption; any direct or indirect guarantee of the security of the EWG or foreign utility company by the holding company claiming exemption; and any debt or other financial obligation for which there is recourse, directly or indirectly, to the holding company claiming exemption or another system company, other than the EWG or foreign utility company. Claimant Subsidiary AGL Resources Inc. Atlanta Gas Light Company (including Chattanooga) None None (d) Capitalization and earnings of the EWG or foreign utility company during the reporting period. Claimant Subsidiary AGL Resources Inc. Atlanta Gas Light Company (including Chattanooga) None None 5 (e) Identify any service, sales or construction contract(s) between the EWG or foreign utility company and a system company, and describe the services to be rendered or goods sold and fees or revenues under such agreement(s). Claimant Subsidiary AGL Resources Inc. Atlanta Gas Light Company (including Chattanooga) None None 6 ATLANTA GAS LIGHT COMPANY 1. Name, State of organization, location and nature of business of claimant and every subsidiary thereof, other than any exempt wholesale generator (EWG) or foreign utility company in which claimant directly or indirectly holds an interest. Atlanta Gas Light Company ("AGLC") is a Georgia corporation organized in 1856 and has its principal executive office at 1219 Caroline Street, Atlanta, Georgia 30307. AGLC is a regulated utility, which conducts its primary business, the distribution of natural gas, in Georgia including the Atlanta, Athens, Augusta, Brunswick, Macon, Rome, Savannah, and Valdosta areas. AGLC has one wholly-owned subsidiary, Chattanooga Gas Company ("Chattanooga"), a Tennessee corporation. Chattanooga operates a natural gas distribution system in the Chattanooga and Cleveland areas of Tennessee. AGLC also includes AGL Energy Services, Inc. ("AGLE") for financial reporting purposes and for this filing even though AGLE is a wholly-owned subsidiary of AGL Resources, not AGLC. AGLE, a Georgia corporation, is a nonregulated company that bought and sold the natural gas which was supplied to AGLC's customers during the deregulation transition period to full competition in Georgia. Currently, AGLE buys and sells natural gas for Chattanooga's customers. AGLE has one subsidiary, Georgia Gas Company, a Georgia corporation, which has minor interests in natural gas production activities. 2. A brief description of the properties of claimant and each of its subsidiary public utility companies used for the generation, transmission, and distribution of electric energy for sale, or for the production, transmission and distribution of natural or manufactured gas, indicating the location of principal generating plants, transmission lines, producing fields, gas manufacturing plants, and electric and gas distribution facilities, including all such properties which are outside the State in which claimant and its subsidiaries are organized and all transmission or pipelines which deliver or receive electric energy or gas at the borders of such State. (a) Description of properties of AGLC: AGLC's properties consist primarily of natural gas distribution systems and related facilities and local offices serving 237 cities and surrounding areas in the State of Georgia. As of December 31, 1999, AGLC had approximately 30,000 miles of mains, 5,950,000 Mcf. of liquefied natural gas ("LNG") storage capacity in three LNG plants located in Georgia and 96,000 gallons of liquefied petroleum gas storage capacity in one peak shaving plant located in Georgia. 7 (b) Description of properties of Chattanooga: Chattanooga operates a natural gas distribution system and related facilities and local offices serving 13 cities and surrounding areas in the State of Tennessee. As of December 31, 1999, Chattanooga had 1,420 miles of mains and 1,080,000 Mcf. of LNG storage capacity in its one LNG plant located in Tennessee. 3. The following information for the last calendar year with respect to claimant and each of its subsidiary public utility companies: (a) Number of kwh. of electric energy sold (at retail or wholesale), and Mcf. of natural or manufactured gas distributed at retail. Claimant Subsidiary AGLC Chattanooga 69,853,184 Mcf. 18,084,916 Mcf. $459.0 million $72.3 million Gas sold and transported by AGLC. 92,772,529 Mcf. $334.7 million Gas delivered to end-use customers by AGLC on behalf of certificated marketers. (b) Number of kwh. of electric energy and Mcf. of natural or manufactured gas distributed at retail outside the State in which each company is organized. Claimant Subsidiary AGLC Chattanooga NA NA (c) Number of kwh. of electric energy and Mcf. of natural or manufactured gas sold at wholesale outside the State in which each such company is organized, or at the State line. Claimant Subsidiary AGLC Chattanooga NA NA 8 (d) Number of kwh. of electric energy and Mcf. of natural or manufactured gas purchased outside the State in which each such company is organized or at the State line. Claimant Subsidiary AGLC Chattanooga Purchased at State Line Purchased at State Line or at City Gate or at City Gate Metering Stations Metering Stations in Georgia in Tennessee 3,407,663 Mcf. None Purchased outside the Purchased outside the State of Georgia State of Tennessee 74,741,031 Mcf. 12,292,654 Mcf. 4. The following information for the reporting period with respect to claimant and each interest it holds directly or indirectly in an EWG or a foreign utility company, stating monetary amounts in United States dollars: (a) Name, location, business address and description of the facilities used by the EWG or foreign utility company for the generation, transmission and distribution of electric energy for sale or for the distribution at retail of natural or manufactured gas. Claimant Subsidiary AGLC Chattanooga None None (b) Name of each system company that holds an interest in foreign utility company; and description of the interest held. Claimant Subsidiary AGLC Chattanooga None None 9 (c) Type and amount of capital invested, directly or indirectly, by the holding company claiming exemption; any direct or indirect guarantee of the security of the EWG or foreign utility company by the holding company claiming exemption; and any debt or other financial obligation for which there is recourse, directly or indirectly, to the holding company claiming exemption or another system company, other than the EWG or foreign utility company. Claimant Subsidiary AGLC Chattanooga None None (d) Capitalization and earnings of the EWG or foreign utility company during the reporting period. Claimant Subsidiary AGLC Chattanooga None None (e) Identify any service, sales or construction contract(s) between the EWG or foreign utility company and a system company, and describe the services to be rendered or goods sold and fees or revenues under such agreement(s). Claimant Subsidiary AGLC Chattanooga None None 10 EXHIBIT A A consolidating statement of income and surplus of the claimant and its subsidiary companies for the last calendar year, together with a consolidating balance sheet of claimant and its subsidiary companies as of the close of such calendar year. AGL RESOURCES INC. The following financial statements of AGL Resources and its subsidiary companies are attached hereto as Exhibit A1: Condensed Consolidating Income Statements (Unaudited) for the Twelve Months Ended December 31, 1999 Condensed Consolidating Statements of Earnings Reinvested (Unaudited) for the Twelve Months Ended December 31, 1999 Condensed Consolidating Balance Sheets (Unaudited) as of December 31, 1999 The following financial statements of AGL Resources' subsidiary, AGL Investments, Inc. are attached hereto as Exhibit A1-1: Condensed Consolidating Income Statements (Unaudited) for the Twelve Months Ended December 31, 1999 Condensed Consolidating Statements of Earnings Reinvested (Unaudited) for the Twelve Months Ended December 31, 1999 Condensed Consolidating Balance Sheets (Unaudited) as of December 31, 1999 ATLANTA GAS LIGHT COMPANY The following financial statements of AGLC and its subsidiary companies are attached hereto as Exhibit A2: Condensed Consolidating Income Statements (Unaudited) for the Twelve Months Ended December 31, 1999 Condensed Consolidating Statements of Earnings Reinvested (Unaudited) for the Twelve Months Ended December 31, 1999 Condensed Consolidating Balance Sheets (Unaudited) as of December 31, 1999 11 EXHIBIT B. Financial Data Schedule If, at the time a report on this form is filed, the registrant is required to submit this report and any amendments thereto electronically via EDGAR, the registrant shall furnish a Financial Data Schedule. The Schedule shall set forth the financial and other data specified below that are applicable to the registrant on a consolidated basis. Item No. Caption Heading 1. Total Assets 2. Total Operating Revenues 3. Net Income 12 EXHIBIT C An organizational chart showing the relationship of each EWG or foreign utility company to associate companies in the holding-company system. None The above-named claimants have caused this statement to be duly executed on their behalf by their authorized officer on this 1st day of March, 2000. AGL RESOURCES INC. and ATLANTA GAS LIGHT COMPANY (Name of Claimant) By: /s/ Donald P. Weinstein Donald P. Weinstein Senior Vice President and Chief Financial Officer CORPORATE SEAL Attest: /s/ Melanie M. Platt Melanie M. Platt Corporate Secretary Name, title, and address of officer to whom notices and correspondence concerning this statement should be addressed: Donald P. Weinstein Senior Vice President and Chief Financial Officer P.O. Box 4569, Atlanta, Georgia 30302 14 Exhibit A1
AGL RESOURCES INC. Condensed Consolidating Income Statements (Unaudited) For the Twelve Months Ended December 31, 1999 (In Millions) Consolidated AGL Georgia AGL Consolidated Atlanta Reclassi- Consolidated Resources Natural Peaking AGL AGL Gas Light fications AGL Holding Gas Services, Capital Investments, Utility and Resources Company Services Inc. Trust Inc. Operations Eliminations Inc. Operating Revenues ............. -- $ 0.6 -- -- $ 39.3 $ 893.3 -- $ 933.2 Cost of Sales .................. -- 0.6 -- -- 14.0 403.3 -- 417.9 - ------------------------------------------------------------------------------------------------------------------------------------ Operating Margin ............ -- -- -- -- 25.3 490.0 -- 515.3 - ------------------------------------------------------------------------------------------------------------------------------------ Other Operating Expenses Operation and maintenance expenses ................. (10.8) 0.2 -- -- 25.7 256.1 -- 271.2 Depreciation and amortization 8.8 (0.3) -- -- 3.8 67.1 -- 79.4 Taxes other than income ..... 1.9 -- -- -- 1.2 21.2 -- 24.3 - ------------------------------------------------------------------------------------------------------------------------------------ Total other operating expenses .............. (0.1) (0.1) -- -- 30.7 344.4 -- 374.9 - ------------------------------------------------------------------------------------------------------------------------------------ Operating Income ............... 0.1 0.1 -- -- (5.4) 145.6 -- 140.4 - ------------------------------------------------------------------------------------------------------------------------------------ Other Income (Loss) ............ (0.2) (7.7) -- 6.3 2.4 3.7 (7.4) (2.9) - ------------------------------------------------------------------------------------------------------------------------------------ Gain on Sale of Joint Venture Interests ................... -- -- -- -- 35.6 -- -- 35.6 - ------------------------------------------------------------------------------------------------------------------------------------ Income Before Interest and Income Taxes ................ (0.1) (7.6) -- 6.3 32.6 149.3 (7.4) 173.1 - ------------------------------------------------------------------------------------------------------------------------------------ Interest Expense and Preferred Stock Dividends Interest expense ............ 8.7 1.4 0.1 -- 0.2 46.9 (6.4) 50.9 Dividends on preferred stock of subsidiary ............ -- -- -- 6.3 -- -- (0.2) 6.1 - ------------------------------------------------------------------------------------------------------------------------------------ Total interest expense and preferred stock dividends 8.7 1.4 0.1 6.3 0.2 46.9 (6.6) 57.0 - ------------------------------------------------------------------------------------------------------------------------------------ Income Before Income Taxes ..... (8.8) (9.0) (0.1) -- 32.4 102.4 (0.8) 116.1 - ------------------------------------------------------------------------------------------------------------------------------------ Income Taxes ................... (3.4) (3.5) -- -- 12.0 35.4 -- 40.5 - ------------------------------------------------------------------------------------------------------------------------------------ Net Income ..................... $ (5.4) $ (5.5) $ (0.1) -- $ 20.4 $ 67.0 $ (0.8) $ 75.6 ====================================================================================================================================
Page 1 of 4 Exhibit A1
AGL RESOURCES INC. Condensed Consolidating Statements of Earnings Reinvested (Unaudited) For the Twelve Months Ended December 31, 1999 (In Millions) Consolidated AGL Georgia AGL Consolidated Atlanta Reclassi- Consolidated Resources Natural Peaking AGL AGL Gas Light fications AGL Holding Gas Services, Capital Investments, Utility and Resources Company Services Inc. Trust Inc. Operations Eliminations Inc. Earnings Reinvested at Beginning of Period .... $ (75.3) $ (4.2) $ 0.3 -- $ (1.5) $ 251.0 $ 4.6 $ 174.9 Net Income ................ (5.4) (5.5) (0.1) -- 20.4 67.0 (0.8) 75.6 Dividends on Common Stock . (61.9) -- -- -- -- -- -- (61.9) Adjustments - Reverse Subsidiary Income ...... 4.0 -- -- -- -- -- (4.0) -- Adjustments - Rounding .... -- -- -- -- (0.1) -- 0.1 -- Loss on Issuance of Treasury Stock ...... (0.1) -- -- -- -- -- -- (0.1) - ------------------------------------------------------------------------------------------------------------------------------------ Earnings Reinvested at End of Period .......... $ (138.7) $ (9.7) $ 0.2 -- $ 18.8 $ 318.0 $ (0.1) $ 188.5 ====================================================================================================================================
Page 2 of 4 Exhibit A1
AGL RESOURCES INC. Condensed Consolidating Balance Sheets (Unaudited) as of December 31, 1999 (In Millions) Consolidated AGL Georgia AGL Consolidated Atlanta Reclassi- Consolidated Resources Natural Peaking AGL AGL Gas Light fications AGL Holding Gas Services, Capital Investments, Utility and Resources Company Services Inc. Trust Inc. Operations Eliminations Inc. ASSETS Current Assets Cash ........................ -- $ (0.1) -- -- $ 4.5 $ (0.2) -- $ 4.2 Receivables ................. (0.3) 0.3 0.1 1.0 8.9 42.7 (1.3) 51.4 Intercompany receivables .... 363.2 (46.4) -- -- 69.0 613.7 (999.5) -- Inventories: Natural gas stored underground ............. -- -- -- -- -- 20.6 -- 20.6 LNG stored ................ -- -- -- -- -- 3.0 -- 3.0 Other ..................... -- 1.3 -- -- 2.2 7.9 -- 11.4 Deferred purchased gas adjustments ............... -- -- -- -- -- 1.1 -- 1.1 Other current assets ........ 1.8 -- -- -- 0.5 1.6 -- 3.9 - ------------------------------------------------------------------------------------------------------------------------------------ Total current assets .... 364.7 (44.9) 0.1 1.0 85.1 690.4 (1,000.8) 95.6 - ------------------------------------------------------------------------------------------------------------------------------------ Investment and Equity in Associated Companies ........ 406.5 -- -- 77.3 -- -- (483.8) -- - ------------------------------------------------------------------------------------------------------------------------------------ Property, Plant and Equipment Utility plant ............... -- -- -- -- -- 2,300.4 -- 2,300.4 Less Accumulated Depreciation (0.2) -- -- -- -- 772.6 -- 772.4 - ------------------------------------------------------------------------------------------------------------------------------------ Utility plant - net ....... 0.2 -- -- -- -- 1,527.8 -- 1,528.0 - ------------------------------------------------------------------------------------------------------------------------------------ Non-utility property ........ 78.5 -- -- -- 36.2 3.4 -- 118.1 Less Accumulated Depreciation 26.3 -- -- -- 9.8 1.8 -- 37.9 - ------------------------------------------------------------------------------------------------------------------------------------ Non-utility property - net 52.2 -- -- -- 26.4 1.6 -- 80.2 - ------------------------------------------------------------------------------------------------------------------------------------ Total property, plant and equipment ............. 52.4 -- -- -- 26.4 1,529.4 -- 1,608.2 - ------------------------------------------------------------------------------------------------------------------------------------ Deferred Debits and Other Assets Unrecovered environmental response costs ............ -- -- -- -- -- 146.4 -- 146.4 Investments in joint ventures 2.7 38.5 2.9 -- -- 0.4 (2.7) 41.8 Unrecovered postretirement benefits costs ............ -- -- -- -- -- 8.3 -- 8.3 Other ....................... 1.8 (0.1) -- -- 6.4 22.0 -- 30.1 - ------------------------------------------------------------------------------------------------------------------------------------ Total deferred debits and other assets ............ 4.5 38.4 2.9 -- 6.4 177.1 (2.7) 226.6 - ------------------------------------------------------------------------------------------------------------------------------------ Total Assets .................. $ 828.1 $ (6.5) $ 3.0 $ 78.3 $ 117.9 $ 2,396.9 $ (1,487.3) $ 1,930.4 ====================================================================================================================================
Page 3 of 4 Exhibit A1
AGL RESOURCES INC. Condensed Consolidating Balance Sheets (Unaudited) as of December 31, 1999 (In Millions) Consolidated AGL Georgia AGL Consolidated Atlanta Reclassi- Consolidated Resources Natural Peaking AGL AGL Gas Light fications AGL Holding Gas Services, Capital Investments, Utility and Resources Company Services Inc. Trust Inc. Operations Eliminations Inc. LIABILITIES Current Liabilities Accounts payable - trade .... $ 2.5 -- -- -- $ 5.3 $ 26.8 -- $ 34.6 Intercompany payables ....... 339.3 3.5 0.2 1.0 43.5 612.0 (999.5) -- Short-term debt ............. 59.0 -- -- -- -- -- -- 59.0 Current portion of long-term debt ...................... -- -- -- -- -- 10.0 -- 10.0 Gas cost credits ............ -- -- -- -- -- 2.0 -- 2.0 Customer deposits ........... -- -- -- -- -- 2.2 -- 2.2 Interest .................... 1.1 -- -- -- -- 12.5 (1.0) 12.6 Taxes ....................... 2.1 4.3 (0.2) -- 4.4 18.1 -- 28.7 Wages and salaries .......... 6.6 -- -- -- (0.3) 6.4 -- 12.7 Other accrued liabilities ... -- -- -- 0.7 -- (0.2) 0.5 Deferred purchased gas adjustments ............... -- -- -- -- -- -- -- -- Other current liabilities ... 2.4 -- -- -- 0.7 11.9 -- 15.0 - ------------------------------------------------------------------------------------------------------------------------------------ Total current liabilities . 413.0 7.8 -- 1.7 53.6 701.9 (1,000.7) 177.3 - ------------------------------------------------------------------------------------------------------------------------------------ Accumulated deferred income tax 1.6 (4.7) 0.1 -- 4.5 214.6 -- 216.1 - ------------------------------------------------------------------------------------------------------------------------------------ Long-Term Liabilities Accrued environmental response costs ............ -- -- -- -- -- 102.4 -- 102.4 Accrued postretirement benefits costs ............ 0.2 -- -- -- -- 32.7 -- 32.9 Accrued pension costs ....... 1.8 -- -- -- -- 4.2 -- 6.0 - ------------------------------------------------------------------------------------------------------------------------------------ Total long-term liabilities 2.0 -- -- -- -- 139.3 -- 141.3 - ------------------------------------------------------------------------------------------------------------------------------------ Minority Interest ............. -- -- -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Deferred credits Unamortized investment tax credit .................... -- -- -- -- -- 24.1 -- 24.1 Regulatory tax liability .... -- -- -- -- -- 16.2 -- 16.2 Other ....................... 1.6 -- -- -- 1.0 6.9 -- 9.5 - ------------------------------------------------------------------------------------------------------------------------------------ Total deferred credits .... 1.6 -- -- -- 1.0 47.2 -- 49.8 - ------------------------------------------------------------------------------------------------------------------------------------ Equity Investment from Parent . -- 0.1 2.7 2.3 40.5 363.6 (409.2) -- - ------------------------------------------------------------------------------------------------------------------------------------ Capitalization Long-term debt .............. 77.3 -- -- -- -- 610.0 (77.3) 610.0 Subsidiary obligated mandatorily redeemable preferred securities ...... -- -- -- 74.3 -- -- -- 74.3 Common stockholders' equity Common Stock .............. 289.1 -- -- -- -- -- -- 289.1 Premium on Capital Stock .. 198.2 -- -- -- (0.5) 2.3 -- 200.0 Earnings Reinvested ....... (138.7) (9.7) 0.2 -- 18.8 318.0 (0.1) 188.5 Treasury Stock ............ (16.0) -- -- -- -- -- (16.0) - ------------------------------------------------------------------------------------------------------------------------------------ Total capitalization .... 409.9 (9.7) 0.2 74.3 18.3 930.3 (77.4) 1,345.9 - ------------------------------------------------------------------------------------------------------------------------------------ Total Liabilities ............. $ 828.1 $ (6.5) $ 3.0 $ 78.3 $ 117.9 $ 2,396.9 $ (1,487.3) $ 1,930.4 ====================================================================================================================================
Page 4 of 4 Exhibit A1-1
AGL INVESTMENTS, INC. Condensed Consolidating Income Statements (Unaudited) For the Twelve Months Ended December 31, 1999 (In Millions) Consoli- AGL Reclassi- dated Trustees Energy AGL AGL AGL fications AGL AGL AGL Utili- Invest- Wise Consumer Power Gas Georgia and Invest- Investments Propane, pro, ments, Services, Services Services Marketing Energy Elimi- ments, Corporate Inc. Inc. Inc. Inc. Inc. Inc. Inc. Company nations Inc. Operating Revenues ............ -- $26.1 $13.1 $(0.1) -- $0.2 -- -- -- -- $39.3 Cost of Sales ................. -- 14.0 -- -- -- -- -- -- -- -- 14.0 - ------------------------------------------------------------------------------------------------------------------------------------ Operating Margin ............ -- 12.1 13.1 (0.1) -- 0.2 -- -- -- -- 25.3 - ------------------------------------------------------------------------------------------------------------------------------------ Other Operating Expenses Operation and maintenance expenses .................. 1.3 7.1 16.8 0.3 -- 0.2 (0.7) (2.6) -- 3.3 25.7 Depreciation and amortization (0.3) 2.2 0.9 -- -- -- (0.1) 0.3 -- 0.8 3.8 Taxes other than income ..... -- 0.5 0.6 -- -- -- -- 0.1 -- -- 1.2 - ------------------------------------------------------------------------------------------------------------------------------------ Total other operating expenses .................. 1.0 9.8 18.3 0.3 -- 0.2 (0.8) (2.2) -- 4.1 30.7 - ------------------------------------------------------------------------------------------------------------------------------------ Operating Income .............. (1.0) 2.3 (5.2) (0.4) -- -- 0.8 2.2 -- (4.1) (5.4) - ------------------------------------------------------------------------------------------------------------------------------------ Other Income (Loss) ........... 6.2 0.3 0.6 0.6 -- -- 2.1 (5.0) -- (2.4) 2.4 - ------------------------------------------------------------------------------------------------------------------------------------ Gain on Sale of Joint Venture Interests ............. -- -- -- -- -- -- 21.3 14.3 -- -- 35.6 - ------------------------------------------------------------------------------------------------------------------------------------ Income Before Interest and Income Taxes .................. 5.2 2.6 (4.6) 0.2 -- -- 24.2 11.5 -- (6.5) 32.6 - ------------------------------------------------------------------------------------------------------------------------------------ Interest Expense and Preferred Stock Dividends Interest expense ............ 0.1 -- 0.2 -- -- -- -- -- -- (0.1) 0.2 Dividends on preferred stock of subsidiary -- -- -- -- -- -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Total interest expense and preferred stock dividends 0.1 -- 0.2 -- -- -- -- -- -- (0.1) 0.2 - ------------------------------------------------------------------------------------------------------------------------------------ Income Before Income Taxes .... 5.1 2.6 (4.8) 0.2 -- -- 24.2 11.5 -- (6.4) 32.4 - ------------------------------------------------------------------------------------------------------------------------------------ Income Taxes .................. 2.1 1.0 (2.0) 0.1 -- -- 9.0 4.4 -- (2.6) 12.0 - ------------------------------------------------------------------------------------------------------------------------------------ Net Income .................... $3.0 $1.6 $(2.8) $0.1 -- -- $15.2 $7.1 -- $(3.8) $20.4 ====================================================================================================================================
Page 1 of 4 Exhibit A1-1
AGL INVESTMENTS, INC. Condensed Consolidating Statements of Earnings Reinvested (Unaudited) For the Twelve Months Ended December 31, 1999 (In Millions) Consoli- AGL Reclassi- dated Trustees Energy AGL AGL AGL fications AGL AGL AGL Utili- Invest- Wise Consumer Power Gas Georgia and Invest- Investments Propane, pro, ments, Services, Services Services Marketing Energy Elimi- ments, Corporate Inc. Inc. Inc. Inc. Inc. Inc. Inc. Company nations Inc. Earnings Reinvested at Beginning of Period $(1.7) $3.2 $(0.8) $0.2 $(0.5) $0.1 $(0.7) $1.8 $(0.6) $(2.5) $(1.5) Net Income .............. 3.0 1.6 (2.8) 0.1 -- -- 15.2 7.1 -- (3.8) 20.4 Dividends on Common Stock -- -- -- -- -- -- -- -- -- -- -- Adjustments - reverse subsidiary income ..... (7.1) 0.7 -- -- -- -- -- -- -- 6.4 -- Adjustments - rounding .. -- -- -- -- -- -- -- -- -- (0.1) (0.1) Loss on issuance of treasury Stock ........ -- -- -- -- -- -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Earnings Reinvested at End of Period ...... $(5.8) $5.5 $(3.6) $0.3 $(0.5) $0.1 $14.5 $8.9 $(0.6) $(0.0) $18.8 ====================================================================================================================================
Page 2 of 4 Exhibit A1-1
AGL INVESTMENTS, INC. Condensed Consolidating Balance Sheets (Unaudited) For the Twelve Months Ended December 31, 1999 (In Millions) Consoli- AGL Reclassi- dated Trustees Energy AGL AGL AGL fications AGL AGL AGL Utili- Invest- Wise Consumer Power Gas Georgia and Invest- Investments Propane, pro, ments, Services, Services Services Marketing Energy Elimi- ments, Corporate Inc. Inc. Inc. Inc. Inc. Inc. Inc. Company nations Inc. ASSETS Current Assets Cash ........................ $1.7 $2.5 $0.2 -- $0.1 -- -- -- -- -- $4.5 Receivables ................. 0.1 2.9 5.8 0.1 -- 0.1 -- -- -- (0.1) 8.9 Intercompany receivables .... 69.3 0.1 -- 3.5 0.3 5.9 27.4 41.2 0.3 (79.0) 69.0 Inventories: Natural gas stored underground ............. -- -- -- -- -- -- -- -- -- -- -- LNG stored ................ -- -- -- -- -- -- -- -- -- -- -- Other ..................... -- 2.2 -- -- -- -- -- -- -- -- 2.2 Deferred purchased gas adjustments ............... -- -- -- -- -- -- -- -- -- -- -- Other current assets ........ -- 0.1 0.4 -- -- -- -- -- -- -- 0.5 - ------------------------------------------------------------------------------------------------------------------------------------ Total current assets .... 71.1 7.8 6.4 3.6 0.4 6.0 27.4 41.2 0.3 (79.1) 85.1 - ------------------------------------------------------------------------------------------------------------------------------------ Investment and Equity in Associated Companies ........ 58.8 -- -- -- -- -- -- -- -- (58.8) -- - ------------------------------------------------------------------------------------------------------------------------------------ Property, Plant and Equipment Utility plant ............... -- -- -- -- -- -- -- -- -- -- -- Less Accumulated Depreciation -- -- -- -- -- -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Utility plant - net ....... -- -- -- -- -- -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Non-utility property ........ -- 29.6 2.4 3.8 0.1 -- -- -- 0.3 -- 36.2 Less Accumulated Depreciation -- 6.2 0.6 2.8 -- -- -- -- 0.2 -- 9.8 - ------------------------------------------------------------------------------------------------------------------------------------ Non-utility property - net -- 23.4 1.8 1.0 0.1 -- -- -- 0.1 -- 26.4 - ------------------------------------------------------------------------------------------------------------------------------------ Total property, plant and equipment ............. -- 23.4 1.8 1.0 0.1 -- -- -- 0.1 -- 26.4 - ------------------------------------------------------------------------------------------------------------------------------------ Deferred Debits and Other Assets Unrecovered environmental response costs ............ -- -- -- -- -- -- -- -- -- -- -- Investments in joint ventures -- -- -- -- -- -- -- -- -- -- -- Unrecovered postretirement benefits costs ............ -- -- -- -- -- -- -- -- -- -- -- Other ....................... -- 6.0 0.3 -- 0.1 -- -- -- -- -- 6.4 - ------------------------------------------------------------------------------------------------------------------------------------ Total deferred debits and other assets ............ -- 6.0 0.3 -- 0.1 -- -- -- -- -- 6.4 - ------------------------------------------------------------------------------------------------------------------------------------ Total Assets .................. $129.9 $37.2 $8.5 $4.6 $0.6 $6.0 $27.4 $41.2 $0.4 $(137.9) $117.9 ====================================================================================================================================
Page 3 of 4 Exhibit A1-1
AGL INVESTMENTS, INC. Condensed Consolidating Balance Sheets (Unaudited) For the Twelve Months Ended December 31, 1999 (In Millions) Consoli- AGL Reclassi- dated Trustees Energy AGL AGL AGL fications AGL AGL AGL Utili- Invest- Wise Consumer Power Gas Georgia and Invest- Investments Propane, pro, ments, Services, Services Services Marketing Energy Elimi- ments, Corporate Inc. Inc. Inc. Inc. Inc. Inc. Inc. Company nations Inc. LIABILITIES Current Liabilities Accounts payable - trade .... $ 0.5 $1.3 $3.2 -- -- $0.3 -- -- -- -- $5.3 Intercompany payables ....... 95.8 0.5 5.9 1.7 0.7 5.6 5.7 6.4 0.2 (79.0) 43.5 Short-term debt ............. -- -- -- -- -- -- -- -- -- -- -- Current portion of long-term debt ...................... -- -- -- -- -- -- -- -- -- -- -- Gas cost credits ............ -- -- -- -- -- -- -- -- -- -- -- Customer deposits ........... -- -- -- -- -- -- -- -- -- -- -- Interest .................... -- -- 0.1 -- -- -- -- -- -- (0.1) -- Taxes ....................... -- 1.0 (0.7) 0.3 -- -- 2.5 1.3 -- -- 4.4 Wages and salaries .......... (0.6) 0.1 0.1 0.1 -- -- -- -- -- -- (0.3) Other accrued liabilities ... -- -- -- -- -- -- -- -- -- -- -- Deferred purchased gas adjustments ............... -- -- -- -- -- -- -- -- -- -- -- Other current liabilities ... 0.1 0.2 -- -- 0.2 -- -- -- 0.2 -- 0.7 - ------------------------------------------------------------------------------------------------------------------------------------ Total current liabilities . 95.8 3.1 8.6 2.1 0.9 5.9 8.2 7.7 0.4 (79.1) 53.6 - ------------------------------------------------------------------------------------------------------------------------------------ Accumulated deferred income tax (0.1) 5.1 (1.0) -- -- -- 1.1 (0.6) -- -- 4.5 - ------------------------------------------------------------------------------------------------------------------------------------ Long-Term Liabilities Accrued environmental response costs ............ -- -- -- -- -- -- -- -- -- -- -- Accrued postretirement benefits costs ............ -- -- -- -- -- -- -- -- -- -- -- Accrued pension costs ....... -- -- -- -- -- -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Total long-term liabilities -- -- -- -- -- -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Minority Interest ............. -- -- -- -- -- -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Deferred credits Unamortized investment tax credit ................ -- -- -- -- -- -- -- -- -- -- -- Regulatory tax liability .... -- -- -- -- -- -- -- -- -- -- -- Other ....................... -- -- 0.8 -- -- -- -- 0.2 -- -- 1.0 - ------------------------------------------------------------------------------------------------------------------------------------ Total deferred credits .... -- -- 0.8 -- -- -- -- 0.2 -- -- 1.0 - ------------------------------------------------------------------------------------------------------------------------------------ Equity Investment from Parent . 40.5 23.5 3.0 2.2 0.2 -- 3.6 25.0 0.6 (58.1) 40.5 - ------------------------------------------------------------------------------------------------------------------------------------ Capitalization Long-term debt .............. -- -- -- -- -- -- -- -- -- -- -- Subsidiary obligated mandatorily redeemable preferred securities ...... -- -- 0.7 -- -- -- -- -- -- (0.7) -- Common stockholders' equity Common Stock .............. -- -- -- -- -- -- -- -- -- -- -- Premium on Capital Stock .. (0.5) -- -- -- -- -- -- -- -- -- (0.5) Earnings Reinvested ....... (5.8) 5.5 (3.6) 0.3 (0.5) 0.1 14.5 8.9 (0.6) -- 18.8 Treasury Stock ............ -- -- -- -- -- - - -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Total capitalization .... (6.3) 5.5 (2.9) 0.3 (0.5) 0.1 14.5 8.9 (0.6) (0.7) 18.3 - ------------------------------------------------------------------------------------------------------------------------------------ Total Liabilities ............. $129.9 $37.2 $8.5 $4.6 $0.6 $6.0 $27.4 $41.2 $0.4 $(137.9) $117.9 ====================================================================================================================================
Page 4 of 4 Exhibit A2
ATLANTA GAS LIGHT UTILITY OPERATIONS Condensed Consolidating Income Statements (Unaudited) For the Twelve Months Ended December 31, 1999 (In Millions) AGL Consolidated Atlanta Energy Georgia Atlanta Gas Gas Light Chattanooga Services, Gas Reclassifications Light Utility Company Gas Company Inc. Company and Eliminations Operations Operating Revenues ............................ $450.7 $72.2 $370.4 -- -- $ 893.3 Cost of Sales ................................. 0.7 42.5 360.1 -- -- 403.3 - ------------------------------------------------------------------------------------------------------------------------------------ Operating Margin ......................... 450.0 29.7 10.3 -- -- 490.0 - ------------------------------------------------------------------------------------------------------------------------------------ Other Operating Expenses Operation and maintenance expenses ....... 242.0 14.1 -- -- -- 256.1 Depreciation and amortization ............ 61.8 5.3 -- -- -- 67.1 Taxes other than income .................. 17.8 3.3 0.1 -- -- 21.2 - ------------------------------------------------------------------------------------------------------------------------------------ Total other operating expenses ........ 321.6 22.7 0.1 -- -- 344.4 - ------------------------------------------------------------------------------------------------------------------------------------ Operating Income .............................. 128.4 7.0 10.2 -- -- 145.6 - ------------------------------------------------------------------------------------------------------------------------------------ Other Income (Loss) ........................... 1.4 0.1 -- -- 2.2 3.7 - ------------------------------------------------------------------------------------------------------------------------------------ Gain on Sale of Joint Venture Interests ....... -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Income Before Interest and Income Taxes ....... 129.8 7.1 10.2 -- 2.2 149.3 - ------------------------------------------------------------------------------------------------------------------------------------ Interest Expense and Preferred Stock Dividends Interest expense ......................... 46.3 0.1 0.4 -- 0.1 46.9 Dividends on preferred stock of subsidiary - ------------------------------------------------------------------------------------------------------------------------------------ Total interest expense and preferred stock dividends ....................... 46.3 0.1 0.4 -- 0.1 46.9 - ------------------------------------------------------------------------------------------------------------------------------------ Income Before Income Taxes .................... 83.5 7.0 9.8 -- 2.1 102.4 - ------------------------------------------------------------------------------------------------------------------------------------ Income Taxes .................................. 28.9 2.7 3.8 -- -- 35.4 - ------------------------------------------------------------------------------------------------------------------------------------ Net Income .................................... $ 54.6 $ 4.3 $ 6.0 -- $ 2.1 $ 67.0 ====================================================================================================================================
Page 1 of 4 Exhibit A2
ATLANTA GAS LIGHT UTILITY OPERATIONS Condensed Consolidating Statements of Earnings Reinvested (Unaudited) For the Twelve Months Ended December 31, 1999 (In Millions) AGL Consolidated Atlanta Energy Georgia Atlanta Gas Gas Light Chattanooga Services, Gas Reclassifications Light Utility Company Gas Company Inc. Company and Eliminations Operations Earnings Reinvested at Beginning of Period $ 244.7 $ 42.6 $ 6.3 $ 3.5 $ (46.1) $ 251.0 Net Income 54.6 4.3 6.0 -- 2.1 67.0 Dividends on Common Stock -- -- -- -- -- -- Adjustments - reverse subsidiary income (40.5) -- (3.5) -- 44.0 -- Adjustments - rounding -- -- -- -- -- -- Loss on issuance of treasury Stock -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Earnings Reinvested at End of Period $ 258.8 $ 46.9 $ 8.8 $ 3.5 -- $ 318.0 ====================================================================================================================================
Page 2 of 4 Exhibit A2
ATLANTA GAS LIGHT UTILITY OPERATIONS Condensed Consolidating Balance Sheets (Unaudited) For the Twelve Months Ended December 31, 1999 (In Millions) AGL Consolidated Atlanta Energy Georgia Atlanta Gas Gas Light Chattanooga Services, Gas Reclassifications Light Utility Company Gas Company Inc. Company and Eliminations Operations ASSETS Current Assets Cash ...................................... -- $(0.1) $ (0.1) -- -- $ (0.2) Receivables ............................... 23.6 17.8 1.3 -- -- 42.7 Intercompany receivables .................. 1,414.3 38.2 693.9 2.7 (1,535.4) 613.7 Inventories: Natural gas stored underground .......... 14.4 6.2 -- -- -- 20.6 LNG stored .............................. 0.8 2.2 -- -- -- 3.0 Other ................................... 7.7 0.2 -- -- -- 7.9 Deferred purchased gas adjustments ........ -- 1.1 -- -- -- 1.1 Other current assets ...................... 1.6 -- -- -- -- 1.6 - ------------------------------------------------------------------------------------------------------------------------------------ Total current assets .................. 1,462.4 65.6 695.1 2.7 (1,535.4) 690.4 - ------------------------------------------------------------------------------------------------------------------------------------ Investment and Equity in Associated Companies 38.9 -- -- -- (38.9) -- - ------------------------------------------------------------------------------------------------------------------------------------ Property, Plant and Equipment Utility plant ............................. 2,143.8 156.6 -- -- -- 2,300.4 Less Accumulated Depreciation ............. 716.4 56.2 -- -- -- 772.6 - ------------------------------------------------------------------------------------------------------------------------------------ Utility plant - net ..................... 1,427.4 100.4 -- -- -- 1,527.8 - ------------------------------------------------------------------------------------------------------------------------------------ Non-utility property ...................... 1.1 -- 0.4 1.9 -- 3.4 Less Accumulated Depreciation ............. -- -- 0.1 1.7 -- 1.8 - ------------------------------------------------------------------------------------------------------------------------------------ Non-utility property - net .............. 1.1 -- 0.3 0.2 -- 1.6 - ------------------------------------------------------------------------------------------------------------------------------------ Total property, plant and equipment ... 1,428.5 100.4 0.3 0.2 -- 1,529.4 - ------------------------------------------------------------------------------------------------------------------------------------ Deferred Debits and Other Assets Unrecovered environmental response costs .. 146.4 -- -- -- -- 146.4 Investments in joint ventures ............. -- -- -- 0.4 -- 0.4 Unrecovered postretirement benefits costs . 8.3 -- -- -- -- 8.3 Other ..................................... 21.6 0.2 -- 0.2 -- 22.0 - ------------------------------------------------------------------------------------------------------------------------------------ Total deferred debits and other assets .. 176.3 0.2 -- 0.6 -- 177.1 - ------------------------------------------------------------------------------------------------------------------------------------ Total Assets ................................ $3,106.1 $166.2 $695.4 $ 3.5 $(1,574.3) $ 2,396.9 ====================================================================================================================================
Page 3 of 4 Exhibit A2
ATLANTA GAS LIGHT UTILITY OPERATIONS Condensed Consolidating Balance Sheets (Unaudited) For the Twelve Months Ended December 31, 1999 (In Millions) AGL Consolidated Atlanta Energy Georgia Atlanta Gas Gas Light Chattanooga Services, Gas Reclassifications Light Utility Company Gas Company Inc. Company and Eliminations Operations LIABILITIES Current Liabilities Accounts payable - trade ............ $ 22.0 $ 5.1 $ (0.3) -- -- $ 26.8 Intercompany payables ............... 1,403.1 62.0 682.2 0.1 (1,535.4) 612.0 Short-term debt ..................... -- -- -- -- -- -- Current portion of long-term debt ... 10.0 -- -- -- -- 10.0 Gas cost credits .................... 2.0 -- -- -- -- 2.0 Customer deposits ................... 0.4 1.8 -- -- -- 2.2 Interest ............................ 11.9 0.6 -- -- -- 12.5 Taxes ............................... 10.0 7.4 0.8 (0.1) -- 18.1 Wages and salaries .................. 5.7 0.4 0.3 -- -- 6.4 Other accrued liabilities ........... -- -- -- -- -- -- Deferred purchased gas adjustments .. -- -- -- -- -- -- Other current liabilities ........... 11.2 0.7 -- -- -- 11.9 - ------------------------------------------------------------------------------------------------------------------------------------ Total current liabilities ....... 1,476.3 78.0 683.0 -- (1,535.4) 701.9 - ------------------------------------------------------------------------------------------------------------------------------------ Accumulated deferred income tax ....... 210.1 4.5 -- -- -- 214.6 - ------------------------------------------------------------------------------------------------------------------------------------ Long-Term Liabilities Accrued environmental response costs 102.4 -- -- -- -- 102.4 Accrued postretirement benefits costs 31.1 1.6 -- -- -- 32.7 Accrued pension costs ............... 4.6 (0.4) -- -- -- 4.2 - ------------------------------------------------------------------------------------------------------------------------------------ Total long-term liabilities ..... 138.1 1.2 -- -- -- 139.3 - ------------------------------------------------------------------------------------------------------------------------------------ Minority Interest ..................... -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Deferred credits Unamortized investment tax credit ... 24.1 -- -- -- -- 24.1 Regulatory tax liability ............ 16.2 -- -- -- -- 16.2 Other ............................... 6.6 0.3 -- -- -- 6.9 - ------------------------------------------------------------------------------------------------------------------------------------ Total deferred credits .......... 46.9 0.3 -- -- -- 47.2 - ------------------------------------------------------------------------------------------------------------------------------------ Equity Investment from Parent ......... 363.6 35.3 3.6 -- (38.9) 363.6 - ------------------------------------------------------------------------------------------------------------------------------------ Capitalization Long-term debt ...................... 610.0 -- -- -- -- 610.0 Subsidiary obligated mandatorily redeemable preferred securities .............. -- -- -- -- -- -- Common stockholders' equity Common Stock ...................... -- -- -- -- -- -- Premium on Capital Stock .......... 2.3 -- -- -- -- 2.3 Earnings Reinvested ............... 258.8 46.9 8.8 3.5 -- 318.0 Treasury Stock .................... -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Total capitalization ............ 871.1 46.9 8.8 3.5 -- 930.3 - ------------------------------------------------------------------------------------------------------------------------------------ Total Liabilities ..................... $ 3,106.1 $166.2 $ 695.4 $ 3.5 $ (1,574.3) $ 2,396.9 ====================================================================================================================================
Page 4 of 4 [ARTICLE] OPUR3 [LEGEND] THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM INTERNAL COMPANY FINANCIAL STATEMENTS FOR THE TWELVE MONTH PERIOD ENDED DECEMBER 31, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS [CIK] 0001004155 [NAME] AGL RESOURCES INC. [MULTIPLIER] 1,000,000 [PERIOD-TYPE] 12-MOS [FISCAL-YEAR-END] SEP-30-2000 [PERIOD-START] JAN-01-1999 [PERIOD-END] DEC-31-1999 [BOOK-VALUE] PER-BOOK [TOTAL-ASSETS] 1930 [TOTAL-OPERATING-REVENUES] 933 [NET-INCOME] 76
[ARTICLE] OPUR3 [LEGEND] THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM INTERNAL COMPANY FINANCIAL STATEMENTS FOR THE TWELVE MONTH PERIOD ENDED DECEMBER 31, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS [CIK] 0000008154 [NAME] ATLANTA GAS LIGHT COMPANY [MULTIPLIER] 1,000,000 [PERIOD-TYPE] 12-MOS [FISCAL-YEAR-END] SEP-30-2000 [PERIOD-START] JAN-01-1999 [PERIOD-END] DEC-31-1999 [BOOK-VALUE] PER-BOOK [TOTAL-ASSETS] 2397 [TOTAL-OPERATING-REVENUES] 893 [NET-INCOME] 67
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