Energy Future (TXU) 8-K TXU Reports Second Quarter Results

TXU CORP. AND SUBSIDIARIES

Segment Consolidating Income Statement

Quarter Ended June 30, 2007

(Millions of Dollars)

(Unaudited)

	Competive Electric Segment			Regulated Delivery Segment			Corporate & Other			Eliminations / Rounding			Total
Operating revenues		1,666			589			12			(245	)		2,022
Direct costs and expenses
Fuel, purchased power costs and delivery fees		971			-			-			(232	)		739
Operating costs		163			207			1			(3	)		368
Depreciation and amortization		80			114			2			-			196
Total direct costs and expenses		1,214			321			3			(235	)		1,303
Gross margin		452			268			9			(10	)		719
Other costs and expenses
Selling, general and administrative expenses		155			51			33			(12	)		227
Non-operating depreciation and other amortization		2			-			2			-			4
Franchise and revenue-based taxes		27			60			1			1			89
Other income		-			(1	)		(15	)		-			(16	)
Other deductions		93			10			19			-			122
Interest income		(85	)		(14	)		(34	)		116			(17	)
Interest expense and related charges		123			78			136			(116	)		221
Total other costs and expenses		315			184			142			(11	)		630
Income (loss) from continuing operations before income taxes		137			84			(133	)		1			89
Income tax expense (benefit)		8			30			(59	)		-			(21	)
Income (loss) from continuing operations		129			54			(74	)		1			110
Income from discontinued operations, net of tax effect		-			-			11			-			11
Net income (loss)		129			54			(63	)		1			121
Average shares of common stock outstanding, basic (millions)														459
Average shares of common stock outstanding, diluted (millions)														464
Per share of common stock:
Basic earnings:
Net income (loss) from continuing operations		0.28			0.12			(0.16	)		(0.00	)		0.24
Income from discontinued operations, net of tax effect		-			-			0.02			-			0.02
Net income (loss)		0.28			0.12			(0.14	)		-			0.26
Diluted earnings:
Net income (loss) from continuing operations		0.28			0.12			(0.16	)		(0.00	)		0.24
Income from discontinued operations, net of tax effect		-			-			0.02			-			0.02
Net income (loss)		0.28			0.12			(0.14	)		-			0.26
Dividends declared														0.433

* Reflects the dilution adjustment of 5 million shares.

TXU CORP. AND SUBSIDIARIES

Segment Consolidating Income Statement

Quarter Ended June 30, 2006

(Millions of Dollars)

(Unaudited)

	Competitive Electric Segment			Regulated Delivery Segment			Corporate & Other			Eliminations / Rounding			Total
Operating revenues		2,349			604			14			(300	)		2,667
Direct costs and expenses
Fuel, purchased power costs and delivery fees		943			-			-			(285	)		658
Operating costs		152			194			-			(5	)		341
Depreciation and amortization		83			116			3			-			202
Total direct costs and expenses		1,178			310			3			(290	)		1,201
Gross margin		1,171			294			11			(10	)		1,466
Other costs and expenses
Selling, general and administrative expenses		128			43			17			(7	)		181
Non-operating depreciation and other amortization		1			1			3			-			5
Franchise and revenue-based taxes		27			59			1			-			87
Other income		(1	)		-			(40	)		(1	)		(42	)
Other deductions		205			1			16			(1	)		221
Interest income		(45	)		(14	)		(24	)		72			(11	)
Interest expense and related charges		102			72			117			(73	)		218
Total other costs and expenses		417			162			90			(10	)		659
Income (loss) from continuing operations before income taxes		754			132			(79	)		-			807
Income tax expense (benefit)		293			46			(29	)		-			310
Income (loss) from continuing operations		461			86			(50	)		-			497
Income from discontinued operations, net of tax effect		-			-			-			-			-
Net income (loss)		461			86			(50	)		-			497
Average shares of common stock outstanding, basic (millions)														458
Average shares of common stock outstanding, diluted (millions)														465
Per share of common stock:
Basic earnings:
Net income (loss) from continuing operations		1.01			0.19			(0.12	)		0.00			1.08
Income from discontinued operations, net of tax effect		-			-			-			-			-
Net income (loss)		1.01			0.19			(0.12	)		-			1.08
Diluted earnings:
Net income (loss) from continuing operations		0.99			0.18			(0.10	)		0.00			1.07
Income from discontinued operations, net of tax effect		-			-			-			-			-
Net income (loss)		0.99			0.18			(0.10	)		-			1.07
Dividends declared														0.413

* Reflects the dilution adjustment of 8 million shares.

TXU CORP. AND SUBSIDIARIES

Segment Consolidating Income Statement - Variance

Quarter Ended June 30, 2007 vs. June 30, 2006

(Millions of Dollars)

(Unaudited)

	Competitive Electric Segment			Regulated Delivery Segment			Corporate & Other			Eliminations / Rounding			Total
Operating revenues		(683	)		(15	)		(2	)		55			(645	)
Direct costs and expenses
Fuel, purchased power costs and delivery fees		28			-			-			53			81
Operating costs		11			13			1			2			27
Depreciation and amortization		(3	)		(2	)		(1	)		-			(6	)
Total direct costs and expenses		36			11			-			55			102
Gross margin		(719	)		(26	)		(2	)		-			(747	)
Other costs and expenses
Selling, general and administrative expenses		27			8			16			(5	)		46
Non-operating depreciation and other amortization		1			(1	)		(1	)		-			(1	)
Franchise and revenue-based taxes		-			1			-			1			2
Other income		1			(1	)		25			1			26
Other deductions		(112	)		9			3			1			(99	)
Interest income		(40	)		-			(10	)		44			(6	)
Interest expense and related charges		21			6			19			(43	)		3
Total other costs and expenses		(102	)		22			52			(1	)		(29	)
Income (loss) from continuing operations before income taxes		(617	)		(48	)		(54	)		1			(718	)
Income tax expense (benefit)		(285	)		(16	)		(30	)		-			(331	)
Income (loss) from continuing operations		(332	)		(32	)		(24	)		1			(387	)
Income from discontinued operations, net of tax effect		-			-			11			-			11
Net income (loss)		(332	)		(32	)		(13	)		1			(376	)
Average shares of common stock outstanding, basic (millions)														1
Average shares of common stock outstanding, diluted (millions)														(2	)
Per share of common stock:
Basic earnings:
Net income (loss) from continuing operations		(0.73	)		(0.07	)		(0.04	)					(0.84	)
Income from discontinued operations, net of tax effect		-			-			0.02			-			0.02
Net income (loss)		(0.73	)		(0.07	)		(0.02	)		-			(0.82	)
Diluted earnings:
Net income (loss) from continuing operations		(0.71	)		(0.06	)		(0.06	)		(0.00	)		(0.83	)
Income from discontinued operations, net of tax effect		-			-			0.02			-			0.02
Net income (loss)		(0.71	)		(0.06	)		(0.04	)		-			(0.81	)
Dividends declared														0.020

TXU CORP. AND SUBSIDIARIES

Segment Consolidating Income Statement

Year to Date Ended June 30, 2007

(Millions of Dollars)

(Unaudited)

	Competitive Electric Segment			Regulated Delivery Segment			Corporate & Other			Eliminations / Rounding			Total
Operating revenues		2,983			1,207			23			(522	)		3,691
Direct costs and expenses
Fuel, purchased power costs and delivery fees		1,902			-			-			(498	)		1,404
Operating costs		314			402			1			(3	)		714
Depreciation and amortization		158			233			4			-			395
Total direct costs and expenses		2,374			635			5			(501	)		2,513
Gross margin		609			572			18			(21	)		1,178
Other costs and expenses
Selling, general and administrative expenses		312			93			61			(19	)		447
Non-operating depreciation and other amortization		3			1			5			(1	)		8
Franchise and revenue-based taxes		53			121			2			-			176
Other income		(9	)		(3	)		(33	)		-			(45	)
Other deductions		808			19			64			-			891
Interest income		(162	)		(29	)		(59	)		215			(35	)
Interest expense and related charges		212			154			268			(216	)		418
Total other costs and expenses		1,217			356			308			(21	)		1,860
Income (loss) from continuing operations before income taxes		(608	)		216			(290	)		-			(682	)
Income tax expense (benefit)		(266	)		76			(104	)		-			(294	)
Income (loss) from continuing operations		(342	)		140			(186	)		-			(388	)
Income from discontinued operations, net of tax effect		-			-			11			-			11
Net income (loss)		(342	)		140			(175	)		-			(377	)
Average shares of common stock outstanding, basic (millions)														458
Average shares of common stock outstanding, diluted (millions)														458
Per share of common stock:
Basic earnings:
Net income (loss) from continuing operations		(0.75	)		0.31			(0.41	)		-			(0.85	)
Income from discontinued operations, net of tax effect		-			-			0.03			-			0.03
Net income (loss)		(0.75	)		0.31			(0.38	)		-			(0.82	)
Diluted earnings:
Net income (loss) from continuing operations		(0.75	)		0.31			(0.41	)		-			(0.85	)
Income from discontinued operations, net of tax effect		-			-			0.03			-			0.03
Net income (loss)		(0.75	)		0.31			(0.38	)		-			(0.82	)
Dividends declared														0.865

TXU CORP. AND SUBSIDIARIES

Segment Consolidating Income Statement

Year to Date Ended June 30, 2006

(Millions of Dollars)

(Unaudited)

	Competitive Electric Segment			Regulated Delivery Segment			Corporate & Other			Eliminations / Rounding			Total
Operating revenues		4,359			1,166			27			(581	)		4,971
Direct costs and expenses
Fuel, purchased power costs and delivery fees		1,733			-			-			(554	)		1,179
Operating costs		306			385			(1	)		(6	)		684
Depreciation and amortization		166			230			8			-			404
Total direct costs and expenses		2,205			615			7			(560	)		2,267
Gross margin		2,154			551			20			(21	)		2,704
Other costs and expenses
Selling, general and administrative expenses		249			93			51			(23	)		370
Non-operating depreciation and other amortization		3			1			5			-			9
Franchise and revenue-based taxes		54			119			1			-			174
Other income		(1	)		(1	)		(54	)		1			(55	)
Other deductions		195			2			23			1			221
Interest income		(76	)		(29	)		(48	)		133			(20	)
Interest expense and related charges		203			140			221			(133	)		431
Total other costs and expenses		627			325			199			(21	)		1,130
Income (loss) from continuing operations before income taxes		1,527			226			(179	)		-			1,574
Income tax expense (benefit)		546			75			(60	)		-			561
Income (loss) from continuing operations		981			151			(119	)		-			1,013
Income from discontinued operations, net of tax effect		-			-			60			-			60
Net income (loss)		981			151			(59	)		-			1,073
Average shares of common stock outstanding, basic (millions)														461
Average shares of common stock outstanding, diluted (millions)														470
Per share of common stock:
Basic earnings:
Net income (loss) from continuing operations		2.13			0.33			(0.26	)		0.00			2.20
Income from discontinued operations, net of tax effect		-			-			0.13			-			0.13
Net income (loss)		2.13			0.33			(0.13	)		-			2.33
Diluted earnings:
Net income (loss) from continuing operations		2.09			0.32			(0.25	)		0.00			2.16
Income from discontinued operations, net of tax effect		-			-			0.13			-			0.13
Net income (loss)		2.09			0.32			(0.12	)		-			2.29
Dividends declared														0.826

* Reflects the dilution adjustment of $1 million and 9 million shares.

TXU CORP. AND SUBSIDIARIES

Segment Consolidating Income Statement - Variance

Year to Date Ended June 30, 2007 vs. June 30, 2006

(Millions of Dollars)

(Unaudited)

	Competitive Electric Segment			Regulated Delivery Segment			Corporate & Other			Eliminations / Rounding			Total
Operating revenues		(1,376	)		41			(4	)		59			(1,280	)
Direct costs and expenses
Fuel, purchased power costs and delivery fees		169			-			-			56			225
Operating costs		8			17			2			3			30
Depreciation and amortization		(8	)		3			(4	)		-			(9	)
Total direct costs and expenses		169			20			(2	)		59			246
Gross margin		(1,545	)		21			(2	)		-			(1,526	)
Other costs and expenses
Selling, general and administrative expenses		63			-			10			4			77
Non-operating depreciation and other amortization		-			-			-			(1	)		(1	)
Franchise and revenue-based taxes		(1	)		2			1		��	-			2
Other income		(8	)		(2	)		21			(1	)		10
Other deductions		613			17			41			(1	)		670
Interest income		(86	)		-			(11	)		82			(15	)
Interest expense and related charges		9			14			47			(83	)		(13	)
Total other costs and expenses		590			31			109			-			730
Income (loss) from continuing operations before income taxes		(2,135	)		(10	)		(111	)		-			(2,256	)
Income tax expense (benefit)		(812	)		1			(44	)		-			(855	)
Income (loss) from continuing operations		(1,323	)		(11	)		(67	)		-			(1,401	)
Income from discontinued operations, net of tax effect		-			-			(49	)		-			(49	)
Net income (loss)		(1,323	)		(11	)		(116	)		-			(1,450	)
Average shares of common stock outstanding, basic (millions)														(3	)
Average shares of common stock outstanding, diluted (millions)														(12	)
Per share of common stock:
Basic earnings:
Net income (loss) from continuing operations		(2.88	)		(0.02	)		(0.15	)		(0.00	)		(3.05	)
Income from discontinued operations, net of tax effect		-			-			(0.10	)		-			(0.10	)
Net income (loss)		(2.88	)		(0.02	)		(0.25	)		-			(3.15	)
Diluted earnings:
Net income (loss) from continuing operations		(2.84	)		(0.01	)		(0.16	)		(0.00	)		(3.01	)
Income from discontinued operations, net of tax effect		-			-			(0.10	)		-			(0.10	)
Net income (loss)		(2.84	)		(0.01	)		(0.26	)		-			(3.11	)
Dividends declared														0.039

TXU CORP. AND SUBSIDIARIES

Condensed Statements of Consolidated Cash Flow

(Millions of Dollars)

(Unaudited)

	Six Months Ended
	June 30
	2007			2006
Cash flows - operating activities:
Net income (loss)		(377	)		1,073
Income from discontinued operations, net of tax effect		(11	)		(60	)
Income (loss) from continuing operations		(388	)		1,013
Adjustments to reconcile income (loss) from continuing operations to cash provided by (used in) operating activities:
Depreciation and amortization		433			444
Deferred income tax expenses (benefit), including utilization of net operating loss carryforwards		(613	)		319
Impairment of natural gas-fueled generation plants		-			198
Inventory write-off related to natural gas-fueled generation plants		-			3
Charge related to suspended generation facilities		716			-
Write-off of deferred transaction costs		38			-
Net gains on sale of assets		(27	)		(24	)
Net effect of unrealized mark-to-market valuations - losses (gains)		1,182			(29	)
Gain on contract settlement		-			(26	)
Bad debt expense		25			30
Stock-based compensation expense		15			9
Other, net		19			16
Changes in operating assets and liabilities		(1,455	)		(49	)
Cash provided by (used in) operating activities from continuing operations		(55	)		1,904
Cash flows - financing activities:
Issuances of securities:
Long-term debt		1,800			100
Common stock		1			180
Retirements/repurchases of securities:
Equity-linked debt		-			(179	)
Pollution control revenue bonds		(143	)		(203	)
Other long-term debt		(68	)		(1,143	)
Common stock		(10	)		(809	)
Change in short-term borrowings:
Commercial paper		(1,296	)		905
Banks		2,155			800
Common stock dividends paid:		(397	)		(384	)
Settlements of minimum withholding tax liabilities under stock-based compensation plans		(93	)		(56	)
Debt premium, discount, financing and reacquisition expenses		(15	)		(17	)
Cash provided by (used in) financing activities from continuing operations		1,934			(806	)
Cash flows - investing activities:
Capital expenditures		(1,611	)		(825	)
Nuclear fuel		(30	)		(30	)
Proceeds from sale of assets		4			-
Purchase of lease trust		-			(69	)
Reduction of restricted cash related to the redemption of pollution control revenue bonds		143			-
Proceeds from sales of nuclear decommissioning trust fund securities		104			144
Investments in nuclear decommissioning trust fund securities		(111	)		(151	)
Proceeds from pollution control revenue bonds deposited with trustee		-			(99	)
Cost to remove retired property		(16	)		(22	)
Investment in unconsolidated affiliate		-			(15	)
Other		11			5
Cash used in investing activities from continuing operations		(1,506	)		(1,062	)
Discontinued operations:
Cash provided by (used in) operating activities		24			(1	)
Cash used in financing activities		-			-
Cash used in investing activities		-			-
Cash provided by (used in) discontinued operations		24			(1	)
Net change in cash and cash equivalents		397			35
Cash and cash equivalents -- beginning balance		25			37
Cash and cash equivalents -- ending balance		422			72

TXU CORP. AND SUBSIDIARIES

Consolidating Balance Sheet

June 30, 2007

(Millions of Dollars)

(Unaudited)

	Competitive Electric Segment		Regulated Delivery Segment			Corporate & Other			Eliminations/ Rounding			Total
ASSETS
Current assets:
Cash and cash equivalents		404		1			17			-			422
Restricted cash		1		52			-			1			54
Advances to affiliates		1,579		-			-			(1,579	)		-
Trade accounts receivable - net		834		142			390			(350	)		1,016
Income taxes receivable		-		-			6			(6	)		-
Trade accounts and other receivables from affiliates		1,500		185			151			(1,836	)		-
Inventories		357		69			2			-			428
Commodity and other derivative contractual assets		287		-			11			1			299
Accumulated deferred income taxes		755		39			35			-			829
Margin deposits related to commodity positions		448		-			-			-			448
Other current assets		103		101			9			(24	)		189
Total current assets		6,268		589			621			(3,793	)		3,685
Restricted cash		102		17			-			-			119
Investments		569		76			8,489			(8,392	)		742
Property, plant and equipment - net		11,421		7,847			119			-			19,387
Notes or other receivables due from affiliates		-		307			-			(307	)		-
Goodwill		517		25			-			-			542
Regulatory assets - net		-		1,935			-			-			1,935
Commodity and other derivative contractual assets		142		-			74			-			216
Other noncurrent assets		279		159			1,004			(1,080	)		362
Total assets		19,298		10,955			10,307			(13,572	)		26,988
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term borrowings		2,195		155			-			-			2,350
Advances from affiliates		-		35			1,544			(1,579	)		-
Long-term debt due currently		268		298			225			1			792
Trade accounts payable		883		119			362			(350	)		1,014
Trade accounts and other payables to affiliates		336		-			1,500			(1,836	)		-
Commodity and other derivative contractual liabilities		412		-			17			-			429
Margin deposits related to commodity positions		35		-			-			-			35
Other current liabilities		442		269			313			(31	)		993
Total current liabilities		4,571		876			3,961			(3,795	)		5,613
Accumulated deferred income taxes		2,640		1,419			-			(938	)		3,121
Investment tax credits		304		50			-			(1	)		353
Commodity and other derivative contractual liabilities		751		-			125			-			876
Notes or other liabilities due affiliates		307		-			-			(307	)		-
Long-term debt, less amounts due currently		3,702		4,562			3,653			-			11,917
Other noncurrent liabilities and deferred credits		1,578		1,100			1,523			(138	)		4,063
Total liabilities		13,853		8,007			9,262			(5,179	)		25,943
Shareholders' equity:
Common stock		-		-			5			-			5
Additional paid-in capital		372		2,004			1,115			(2,376	)		1,115
Retained earnings (deficit)		4,960		963			(117	)		(5,923	)		(117	)
Accumulated other comprehensive income (loss)		113		(19	)		42			(94	)		42
Total shareholders' equity		5,445		2,948			1,045			(8,393	)		1,045
Total liabilities and shareholders' equity		19,298		10,955			10,307			(13,572	)		26,988

TXU CORP. AND SUBSIDIARIES

Consolidating Balance Sheet

December 31, 2006

(Millions of Dollars)

(Unaudited)

	Competitive Electric Segment		Regulated Delivery Segment			Corporate & Other		Eliminations/ Rounding			Total
ASSETS
Current assets:
Cash and cash equivalents		7		1			18		(1	)		25
Restricted cash		3		55			-		-			58
Advances to affiliates		1,396		-			-		(1,396	)		-
Trade accounts receivable - net		806		101			264		(212	)		959
Income taxes receivable		-		-			389		(389	)		-
Trade accounts and other receivables from affiliates		1,500		192			124		(1,816	)		-
Inventories		306		76			2		(1	)		383
Commodity and other derivative contractual assets		948		-			2		-			950
Accumulated deferred income taxes		190		23			40		-			253
Margin deposits related to commodity positions		7		-			-		-			7
Other current assets		87		69			25		(4	)		177
Total current assets		5,250		517			864		(3,819	)		2,812
Restricted cash		241		17			1		(1	)		258
Investments		545		76			9,804		(9,713	)		712
Property, plant and equipment - net		11,023		7,608			124		1			18,756
Notes or other receivables due from affiliates		700		323			-		(1,023	)		-
Goodwill		517		25			-		-			542
Regulatory assets - net		-		2,028			-		-			2,028
Commodity and other derivative contractual assets		334		-			11		-			345
Other noncurrent assets		296		115			585		(616	)		380
Total assets		18,906		10,709			11,389		(15,171	)		25,833
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term borrowings		818		673			-		-			1,491
Advances from affiliates		-		24			1,372		(1,396	)		-
Long-term debt due currently		161		297			28		(1	)		485
Trade accounts payable		977		91			237		(212	)		1,093
Trade accounts and other payables to affiliates		316		-			1,500		(1,816	)		-
Commodity and other derivative contractual liabilities		272		-			21		-			293
Margin deposits related to commodity positions		681		-			-		-			681
Other current liabilities		813		314			307		(394	)		1,040
Total current liabilities		4,038		1,399			3,465		(3,819	)		5,083
Accumulated deferred income taxes		3,259		1,461			-		(482	)		4,238
Investment tax credits		311		52			-		-			363
Commodity and other derivative contractual liabilities		127		-			63		1			191
Notes or other liabilities due affiliates		323		-			700		(1,023	)		-
Long-term debt, less amounts due currently		2,965		3,811			3,855		-			10,631
Other noncurrent liabilities and deferred credits		1,151		1,011			1,161		(136	)		3,187
Total liabilities		12,174		7,734			9,244		(5,459	)		23,693
Shareholders' equity:
Common stock		-		-			5		-			5
Additional paid-in capital		1,212		1,986			1,104		(3,198	)		1,104
Retained earnings (deficit)		5,025		1,008			627		(6,038	)		622
Accumulated other comprehensive income (loss)		495		(19	)		409		(476	)		409
Total shareholders' equity		6,732		2,975			2,145		(9,712	)		2,140
Total liabilities and shareholders' equity		18,906		10,709			11,389		(15,171	)		25,833

TXU CORP. AND SUBSIDIARIES

Consolidating Balance Sheet - Variance

June 30, 2007 vs. December 31, 2006

(Millions of Dollars)

(Unaudited)

		Competitive Electric Segment			Regulated Delivery Segment			Corporate & Other			Eliminations/ Rounding			Total
ASSETS
Current assets:
Cash and cash equivalents			397			-			(1	)		1			397
Restricted cash			(2	)		(3	)		-			1			(4	)
Advances to affiliates			183			-			-			(183	)		-
Trade accounts receivable - net			28			41			126			(138	)		57
Income taxes receivable			-			-			(383	)		383			-
Trade accounts and other receivables from affiliates			-			(7	)		27			(20	)		-
Inventories			51			(7	)		-			1			45
Commodity and other derivative contractual assets			(661	)		-			9			1			(651	)
Accumulated deferred income taxes			565			16			(5	)		-			576
Margin deposits related to commodity positions			441			-			-			-			441
Other current assets			16			32			(16	)		(20	)		12
Total current assets			1,018			72			(243	)		26			873
Restricted cash			(139	)		-			(1	)		1			(139	)
Investments			24			-			(1,315	)		1,321			30
Property, plant and equipment - net			398			239			(5	)		(1	)		631
Notes or other receivables due from affiliates			(700	)		(16	)		-			716			-
Goodwill			-			-			-			-			-
Regulatory assets - net			-			(93	)		-			-			(93	)
Commodity and other derivative contractual assets			(192	)		-			63			-			(129	)
Other noncurrent assets			(17	)		44			419			(464	)		(18	)
Total assets			392			246			(1,082	)		1,599			1,155
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term borrowings			1,377			(518	)		-			-			859
Advances from affiliates			-			11			172			(183	)		-
Long-term debt due currently			107			1			197			2			307
Trade accounts payable			(94	)		28			125			(138	)		(79	)
Trade accounts and other payables to affiliates			20			-			-			(20	)		-
Commodity and other derivative contractual liabilities			140			-			(4	)		-			136
Margin deposits related to commodity positions			(646	)		-			-			-			(646	)
Other current liabilities	��		(371	)		(45	)		6			363			(47	)
Total current liabilities			533			(523	)		496			24			530
Accumulated deferred income taxes			(619	)		(42	)		-			(456	)		(1,117	)
Investment tax credits			(7	)		(2	)		-			(1	)		(10	)
Commodity and other derivative contractual liabilities			624			-			62			(1	)		685
Notes or other liabilities due affiliates			(16	)		-			(700	)		716			-
Long-term debt, less amounts due currently			737			751			(202	)		-			1,286
Other noncurrent liabilities and deferred credits			427			89			362			(2	)		876
Total liabilities			1,679			273			18			280			2,250
Shareholders' equity:
Common stock			-			-			-			-			-
Additional paid-in capital			(840	)		18			11			822			11
Retained earnings (deficit)			(65	)		(45	)		(744	)		115			(739	)
Accumulated other comprehensive income (loss)			(382	)		-			(367	)		382			(367	)
Total shareholders' equity			(1,287	)		(27	)		(1,100	)		1,319			(1,095	)
Total liabilities and shareholders' equity			392			246			(1,082	)		1,599			1,155