Presented in this exhibit is "Item 6. Selected Financial Data" for both WGL and Washington Gas, which is recast from the combined annual report on Form 10-K of WGL Holdings, Inc. and Washington Gas Light Company for the fiscal year ended September 30, 2015 (2015 Form 10-K) to give effect to the balance sheet reclassifications of deferred taxes for all periods presented as a result of the retrospective adoption of ASU 2015-17 in the first quarter of fiscal year 2016.
This exhibit does not reflect events occurring after the filing of the 2015 Form 10-K, and does not modify or update the disclosures therein in any way, other than as described above.
ITEM 6. SELECTED FINANCIAL DATA-WGL Holdings, Inc.
The following table presents selected financial data for WGL derived from our financial statements as of and for the last five fiscal years. The information should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in the 2015 Form 10-K and the audited Consolidated Financial Statements and the Notes to the Consolidated Financial Statements attached as Exhibit 99.2 to the current report on Form 8-K filed on the date hereof.
|
| | | | | | | | | | | | | | | | | | | |
| (In thousands, except per share data) | | | | | | | | | |
| Years Ended September 30, | 2015 | | 2014 | | 2013 | | 2012 | | 2011 |
| SUMMARY OF EARNINGS | | | | | | | | | |
| Operating Revenues | | | | | | | | | |
| Utility | $ | 1,303,044 |
| | $ | 1,416,951 |
| | $ | 1,174,724 |
| | $ | 1,109,355 |
| | $ | 1,264,580 |
|
| Non-utility | 1,356,786 |
| | 1,363,996 |
| | 1,291,414 |
| | 1,315,955 |
| | 1,486,921 |
|
| Total operating revenues | $ | 2,659,830 |
| | $ | 2,780,947 |
| | $ | 2,466,138 |
| | $ | 2,425,310 |
| | $ | 2,751,501 |
|
| Income from continuing operations | $ | 131,259 |
| | $ | 105,940 |
| | $ | 80,253 |
| | $ | 139,818 |
| | $ | 117,050 |
|
| COMMON STOCK DATA | | | | | | | | | |
| Earnings per average share: | | | | | | | | | |
| Basic | $ | 2.64 |
| | $ | 2.05 |
| | $ | 1.55 |
| | $ | 2.71 |
| | $ | 2.29 |
|
| Diluted | $ | 2.62 |
| | $ | 2.05 |
| | $ | 1.55 |
| | $ | 2.71 |
| | $ | 2.28 |
|
| Dividends declared per share | $ | 1.8275 |
| | $ | 1.7400 |
| | $ | 1.6600 |
| | $ | 1.5875 |
| | $ | 1.5400 |
|
| Shares outstanding—year end (thousands) | 49,729 |
| | 50,657 |
| | 51,774 |
| | 51,612 |
| | 51,365 |
|
| CAPITALIZATION-YEAR END | | | | | | | | | |
| Common shareholders’ equity | $ | 1,243,247 |
| | $ | 1,246,576 |
| | $ | 1,274,545 |
| | $ | 1,269,556 |
| | $ | 1,202,715 |
|
| Washington Gas Light Company preferred stock | 28,173 |
| | 28,173 |
| | 28,173 |
| | 28,173 |
| | 28,173 |
|
| Long-term debt, excluding current maturities | 944,201 |
| | 679,228 |
| | 524,067 |
| | 589,202 |
| | 587,213 |
|
| Total capitalization | $ | 2,215,621 |
| | $ | 1,953,977 |
| | $ | 1,826,785 |
| | $ | 1,886,931 |
| | $ | 1,818,101 |
|
| OTHER FINANCIAL DATA | | | | | | | | | |
| Property, plant and equipment-net—year-end | $ | 3,672,728 |
| | $ | 3,314,445 |
| | $ | 2,907,463 |
| | $ | 2,667,413 |
| | $ | 2,489,901 |
|
| Total assets—year-end | $ | 5,261,359 |
| | $ | 4,829,835 |
| | $ | 4,235,538 |
| | $ | 4,098,543 |
| | $ | 3,790,218 |
|
ITEM 6. SELECTED FINANCIAL DATA-Washington Gas Light Company
The following table presents selected financial data for Washington Gas derived from the financial statements as of and for the last five fiscal years. The information should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in the 2015 Form 10-K and the audited Consolidated Financial Statements and the Notes to the Consolidated Financial Statements attached as Exhibit 99.2 to the current report on Form 8-K filed on the date hereof.
|
| | | | | | | | | | | | | | | | | | | |
| (In thousands, except per share data) | | | | | | | | | |
| Years Ended September 30, | 2015 | | 2014 | | 2013 | | 2012 | | 2011 |
| SUMMARY OF EARNINGS | | | | | | | | | |
| Operating Revenues | | | | | | | | | |
| Utility | $ | 1,328,191 |
| | $ | 1,443,800 |
| | $ | 1,200,357 |
| | $ | 1,137,666 |
| | $ | 1,288,539 |
|
| Non-utility | — |
| | — |
| | — |
| | — |
| | — |
|
| Total operating revenues | $ | 1,328,191 |
| | $ | 1,443,800 |
| | $ | 1,200,357 |
| | $ | 1,137,666 |
| | $ | 1,288,539 |
|
| Income from continuing operations | $ | 107,358 |
| | $ | 97,004 |
| | $ | 71,002 |
| | $ | 108,726 |
| | $ | 68,270 |
|
| CAPITALIZATION-YEAR END | | | | | | | | | |
| Common shareholder’s equity | $ | 1,081,292 |
| | $ | 1,050,166 |
| | $ | 1,024,583 |
| | $ | 1,025,743 |
| | $ | 990,135 |
|
| Preferred stock | 28,173 |
| | 28,173 |
| | 28,173 |
| | 28,173 |
| | 28,173 |
|
| Long-term debt, excluding current maturities | 695,885 |
| | 679,228 |
| | 524,067 |
| | 589,202 |
| | 587,213 |
|
| Total capitalization | $ | 1,805,350 |
| | $ | 1,757,567 |
| | $ | 1,576,823 |
| | $ | 1,643,118 |
| | $ | 1,605,521 |
|
| OTHER FINANCIAL DATA | | | | | | | | | |
| Property, plant and equipment-net—year-end | $ | 3,243,446 |
| | $ | 3,022,064 |
| | $ | 2,724,882 |
| | $ | 2,574,396 |
| | $ | 2,448,574 |
|
| Total assets—year-end | $ | 4,204,132 |
| | $ | 3,942,162 |
| | $ | 3,447,389 |
| | $ | 3,488,849 |
| | $ | 3,363,300 |
|
UTILITY GAS SALES AND DELIVERIES (thousands of therms) | | | | | | | | | |
| Gas sold and delivered | | | | | | | | | |
| Residential firm | 734,874 |
| | 738,963 |
| | 660,424 |
| | 540,206 |
| | 677,558 |
|
| Commercial and industrial | | | | | | | | | |
| Firm | 197,543 |
| | 200,153 |
| | 180,942 |
| | 149,515 |
| | 179,207 |
|
| Interruptible | 2,072 |
| | 2,193 |
| | 2,897 |
| | 2,042 |
| | 2,573 |
|
| Total gas sold and delivered | 934,489 |
| | 941,309 |
| | 844,263 |
| | 691,763 |
| | 859,338 |
|
| Gas delivered for others | | | | | | | | | |
| Firm | 558,125 |
| | 535,503 |
| | 488,182 |
| | 436,698 |
| | 501,187 |
|
| Interruptible | 260,264 |
| | 267,705 |
| | 270,884 |
| | 243,031 |
| | 271,421 |
|
| Electric generation | 179,061 |
| | 144,403 |
| | 177,533 |
| | 343,315 |
| | 140,557 |
|
| Total gas delivered for others | 997,450 |
| | 947,611 |
| | 936,599 |
| | 1,023,044 |
| | 913,165 |
|
| Total utility gas sales and deliveries | 1,931,939 |
| | 1,888,920 |
| | 1,780,862 |
| | 1,714,807 |
| | 1,772,503 |
|
| OTHER STATISTICS | | | | | | | | | |
| Active customer meters—year-end | 1,129,865 |
| | 1,117,043 |
| | 1,105,123 |
| | 1,094,109 |
| | 1,082,983 |
|
| New customer meters added | 12,099 |
| | 13,327 |
| | 12,468 |
| | 11,250 |
| | 9,868 |
|
| Heating degree days—actual | 3,929 |
| | 4,111 |
| | 3,769 |
| | 3,036 |
| | 3,999 |
|
| Weather percent colder (warmer) than normal | 4.6 | % | | 9.6 | % | | (0.2 | )% | | (20.1 | )% | | 6.1 | % |
