Exhibit 99.2
SELECTED FINANCIAL DATA
Selected financial data about AGL Resources for the last five years is set forth in the table below. You should read the data in the table in conjunction with the consolidated financial statements and related notes set forth in Exhibit 99.4, “Updated Financial Statements and Supplementary Data”.
Dollars and shares in millions, except per share amounts | | 2008 | | | 2007 | | | 2006 | | | 2005 | | | 2004 | |
Income statement data | | | | | | | | | | | | | | | |
Operating revenues | | $ | 2,800 | | | $ | 2,494 | | | $ | 2,621 | | | $ | 2,718 | | | $ | 1,832 | |
Cost of gas | | | 1,654 | | | | 1,369 | | | | 1,482 | | | | 1,626 | | | | 995 | |
Operating margin (1) | | | 1,146 | | | | 1,125 | | | | 1,139 | | | | 1,092 | | | | 837 | |
Operating expenses | | | | | | | | | | | | | | | | | | | | |
Operation and maintenance | | | 472 | | | | 451 | | | | 473 | | | | 477 | | | | 377 | |
Depreciation and amortization | | | 152 | | | | 144 | | | | 138 | | | | 133 | | | | 99 | |
Taxes other than income taxes | | | 44 | | | | 41 | | | | 40 | | | | 40 | | | | 29 | |
Total operating expenses | | | 668 | | | | 636 | | | | 651 | | | | 650 | | | | 505 | |
Operating income | | | 478 | | | | 489 | | | | 488 | | | | 442 | | | | 332 | |
Other income (expense) | | | 6 | | | | 4 | | | | (1 | ) | | | (1 | ) | | | - | |
Earnings before interest and taxes (EBIT) (1) | | | 484 | | | | 493 | | | | 487 | | | | 441 | | | | 332 | |
Interest expense | | | 115 | | | | 125 | | | | 123 | | | | 109 | | | | 71 | |
Earnings before income taxes | | | 369 | | | | 368 | | | | 364 | | | | 332 | | | | 261 | |
Income taxes | | | 132 | | | | 127 | | | | 129 | | | | 117 | | | | 90 | |
Net income | | | 237 | | | | 241 | | | | 235 | | | | 215 | | | | 171 | |
Less net income attributable to the noncontrolling interest | | | 20 | | | | 30 | | | | 23 | | | | 22 | | | | 18 | |
Net income attributable to AGL Resources Inc. | | $ | 217 | | | $ | 211 | | | $ | 212 | | | $ | 193 | | | $ | 153 | |
Common stock data | | | | | | | | | | | | | | | | | | | | |
Weighted average common shares outstanding basic | | | 76.3 | | | | 77.1 | | | | 77.6 | | | | 77.3 | | | | 66.3 | |
Weighted average common shares outstanding diluted | | | 76.6 | | | | 77.4 | | | | 78.0 | | | | 77.8 | | | | 67.0 | |
Total common shares outstanding (2) | | | 76.9 | | | | 76.4 | | | | 77.7 | | | | 77.8 | | | | 76.7 | |
Average daily trading volumes | | | 0.59 | | | | 0.50 | | | | 0.37 | | | | 0.32 | | | | 0.23 | |
Basic earnings per common share attributable to AGL Resources Inc. common shareholders | | $ | 2.85 | | | $ | 2.74 | | | $ | 2.73 | | | $ | 2.50 | | | $ | 2.30 | |
Diluted earnings per common share attributable to AGL Resources Inc. common shareholders | | $ | 2.84 | | | $ | 2.72 | | | $ | 2.72 | | | $ | 2.48 | | | $ | 2.28 | |
Dividends declared per common share | | $ | 1.68 | | | $ | 1.64 | | | $ | 1.48 | | | $ | 1.30 | | | $ | 1.15 | |
Dividend payout ratio | | | 59 | % | | | 60 | % | | | 54 | % | | | 52 | % | | | 50 | % |
Dividend yield (3) | | | 5.4 | % | | | 4.4 | % | | | 3.8 | % | | | 3.7 | % | | | 3.5 | % |
Price-earnings ratio (4) | | | 11.0 | | | | 13.7 | | | | 14.3 | | | | 13.9 | | | | 14.5 | |
Stock price market range | | | $24.02 - $39.13 | | | | $35.24-$44.67 | | | | $34.40-$40.09 | | | | $32.00-$39.32 | | | | $26.50-$33.65 | |
Market value per common share (5) | | $ | 31.35 | | | $ | 37.64 | | | $ | 38.91 | | | $ | 34.81 | | | $ | 33.24 | |
Market value (2) | | $ | 2,411 | | | $ | 2,876 | | | $ | 3,023 | | | $ | 2,708 | | | $ | 2,551 | |
Statement of financial position data (2) | | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 6,710 | | | $ | 6,258 | | | $ | 6,123 | | | $ | 6,310 | | | $ | 5,637 | |
Property, plant and equipment – net | | | 3,816 | | | | 3,566 | | | | 3,436 | | | | 3,333 | | | | 3,178 | |
Working capital | | | 59 | | | | 163 | | | | 156 | | | | 73 | | | | (20 | ) |
Total debt | | | 2,541 | | | | 2,255 | | | | 2,161 | | | | 2,137 | | | | 1,957 | |
Equity | | | 1,684 | | | | 1,708 | | | | 1,651 | | | | 1,537 | | | | 1,421 | |
Cash flow data | | | | | | | | | | | | | | | | | | | | |
Net cash provided by operating activities | | $ | 227 | | | $ | 377 | | | $ | 351 | | | $ | 80 | | | $ | 287 | |
Property, plant and equipment expenditures | | | 372 | | | | 259 | | | | 253 | | | | 267 | | | | 264 | |
Net borrowings and (payments) of short-term debt | | | 286 | | | | 52 | | | | 6 | | | | 188 | | | | (480 | ) |
Financial ratios (2) | | | | | | | | | | | | | | | | | | | | |
Total debt | | | 60 | % | | | 57 | % | | | 57 | % | | | 58 | % | | | 58 | % |
Equity | | | 40 | % | | | 43 | % | | | 43 | % | | | 42 | % | | | 42 | % |
Total | | | 100 | % | | | 100 | % | | | 100 | % | | | 100 | % | | | 100 | % |
Return on average equity | | | 12.8 | % | | | 12.6 | % | | | 13.3 | % | | | 13.0 | % | | | 12.9 | % |
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(1) | These are non-GAAP measurements. A reconciliation of operating margin and EBIT to our operating income, earnings before income taxes and net income attributable to AGL Resources Inc. is contained in Exhibit 99.3, “Management’s Discussion and Analysis of Financial Condition and Results of Operations - AGL Resources-Results of Operations.” |
(2) | As of the last day of the fiscal period. |
(3) | Dividends declared per common share divided by market value per common share. |
(4) | Market value per share divided by basic earnings per share attributable to AGL Resources Inc. common shareholders. |
(5) | Closing price of common stock on the New York Stock Exchange as of the last trading day of the fiscal period. |