Exhibit 99.2
UNITIL CORPORATION
CONSOLIDATED STATEMENTS OF EARNINGS
(Millions, except common shares and per share data) (Unaudited)
Year Ended December 31, | 2009 | 2008 | ||||
Operating Revenues: | ||||||
Gas | $ | 152.8 | $ | 56.9 | ||
Electric | 209.9 | 227.5 | ||||
Other | 4.3 | 3.8 | ||||
Total Operating Revenues | 367.0 | 288.2 | ||||
Operating Expenses: | ||||||
Purchased Gas | 96.4 | 37.3 | ||||
Purchased Electricity | 151.6 | 170.1 | ||||
Operation and Maintenance | 44.7 | 27.5 | ||||
Conservation & Load Management | 5.0 | 2.8 | ||||
Depreciation and Amortization | 27.4 | 19.1 | ||||
Provisions for Taxes: | ||||||
Local Property and Other | 10.6 | 6.5 | ||||
Federal and State Income | 5.2 | 4.4 | ||||
Total Operating Expenses | 340.9 | 267.7 | ||||
Operating Income | 26.1 | 20.5 | ||||
Other Non-Operating Expenses | 0.3 | 0.3 | ||||
Income Before Interest Expense | 25.8 | 20.2 | ||||
Interest Expense, net | 15.8 | 10.5 | ||||
Net Income | 10.0 | 9.7 | ||||
Less Dividends on Preferred Stock | 0.1 | 0.1 | ||||
Earnings Applicable to Common Shareholders | $ | 9.9 | $ | 9.6 | ||
Average Common Shares Outstanding (000’s)—Basic | 9,647 | 5,830 | ||||
Average Common Shares Outstanding (000’s)—Diluted | 9,647 | 5,830 | ||||
Earnings per Common Share—Basic and Diluted | $ | 1.03 | $ | 1.65 | ||
(The data contained in this report is preliminary and is unaudited.)
UNITIL CORPORATION
CONSOLIDATED BALANCE SHEETS(Condensed) (Millions) (Unaudited)
December 31, | 2009 | 2008 | ||||
ASSETS | ||||||
Net Utility Plant | $ | 449.7 | $ | 422.8 | ||
Current Assets: | ||||||
Cash | 7.7 | 11.5 | ||||
Other Current Assets | 99.1 | 136.8 | ||||
Total Current Assets | 106.8 | 148.3 | ||||
Noncurrent Assets | 168.7 | 162.1 | ||||
TOTAL ASSETS | $ | 725.2 | $ | 733.2 | ||
CAPITALIZATION AND LIABILITIES | ||||||
Capitalization: | ||||||
Common Stock Equity | $ | 193.1 | $ | 139.5 | ||
Preferred Stock | 2.0 | 2.0 | ||||
Long-Term Debt, Less Current Portion | 248.9 | 249.3 | ||||
Total Capitalization | 444.0 | 390.8 | ||||
Current Liabilities: | ||||||
Short-Term Debt | 64.5 | 74.1 | ||||
Other Current Liabilities | 65.2 | 112.5 | ||||
Total Current Liabilities | 129.7 | 186.6 | ||||
Noncurrent Liabilities | 151.5 | 155.8 | ||||
TOTAL CAPITALIZATION AND LIABILITIES | $ | 725.2 | $ | 733.2 | ||
(The data contained in this report is preliminary and is unaudited.)
UNITIL CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS(Condensed) (Millions) (Unaudited)
Year Ended December 31, | 2009 | 2008 | ||||||
Cash Provided by Operating Activities | $ | 50.9 | $ | 47.3 | ||||
Cash (Used In) Investing Activities: | ||||||||
Property, Plant and Equipment Additions | (58.7 | ) | (28.3 | ) | ||||
Acquisitions, net | (6.9 | ) | (209.9 | ) | ||||
Cash (Used In) Investing Activities | (65.6 | ) | (238.2 | ) | ||||
Cash Provided by Financing Activities | 10.9 | 197.8 | ||||||
Net Increase (Decrease) in Cash | (3.8 | ) | 6.9 | |||||
Cash at Beginning of Year | 11.5 | 4.6 | ||||||
Cash at End of Year | $ | 7.7 | $ | 11.5 | ||||
(The data contained in this report is preliminary and is unaudited.)