EX-99 2 bussegearn.txt CINERGY CORP. BUSINESS SEGMENT SUMMARY INFORMATION For the Quarter Ended March 31 (unaudited) (dollars in thousands, except per share amounts) 2003 2002 ---- ---- Energy Merchant --------------- Net Income $97,105 $16,638 Earnings Per Share - diluted $0.55 $0.11 Electricity Trading Volumes (Mwhs) 33,397,383 21,624,202 Physical and Financial Gas Trading Volumes (Bcf/d) 64.0 58.9 Regulated Operations -------------------- Net Income $74,069 $72,797 Earnings Per Share - diluted $0.43 $0.44 Electric Retail MWH Sales and Transportation 13,174,580 12,368,434 Gas Retail MCF Sales and Transportation 44,842,892 37,111,564 Electric Customers (End of Period) 1,536,413 1,518,104 Gas Customers (End of Period) 507,170 499,591 Power Technology & Infrastructure Services ------------------------------------------ Net Income $(5,089) $(4,606) Earnings Per Share - diluted $(0.03) $(0.03) CINERGY CORP. BUSINESS SEGMENT EARNINGS DRIVER ANALYSIS For the Quarter Ended March 31, 2003 (unaudited) Energy Merchant --------------- Earnings Per Share - diluted - 2002 $ 0.11 Marketing, trading, and origination 0.18 Generation and supply contracts 0.10 Operating and administrative expenses (0.03) Increased financing (0.02) Cumulative effect of a change in accounting principles 0.21 Earnings Per Share - diluted - 2003 $ 0.55 Regulated Operations -------------------- Earnings Per Share - diluted - 2002 $ 0.44 Colder than normal weather 0.09 Other revenue 0.02 Operating and administrative expenses (0.06) Increased financing and depreciation (0.05) Write-off of unrecoverable costs 0.02 Other - net (0.03) Earnings Per Share - diluted - 2003 $ 0.43 Power Technology & Infrastructure Services ------------------------------------------ Earnings Per Share - diluted - 2002 $ (0.03) Operating results of investments (0.01) Mark-to-market valuation of technology investments 0.01 Earnings Per Share - diluted - 2003 $ (0.03)