Exhibit 99.3
Consolidated Balance Sheet |
December 31 ($ in millions) | 2003 | 2002 | ||||||
Other Long-Term Debt and Notes Payable | 9,005 | 8,412 | ||||||
Long-Term Debt to Affiliates — Transition Debt | 5,717 | 6,296 | ||||||
Boston Generating (BG) Project Debt | 1,037 | 1,036 | ||||||
Total Debt* | 15,759 | 15,744 | ||||||
Minority Interest of Consolidated Subs. | — | 77 | ||||||
Preferred Securities* | 87 | 595 | ||||||
Total Shareholders’ Equity | 8,486 | 7,742 | ||||||
Total Capitalization | 24,332 | 24,158 | ||||||
Total Debt to Total Capital | 65 | % | 67 | %** | ||||
Debt to Capital (excl. Transition Debt) | 54 | % | 55 | %** | ||||
Debt to Capital (excl. Trans. and BG Debt) | 51 | % | 53 | %** | ||||
* | Upon adoption of FIN No. 46-R, Trust Preferred Securities were reclassified to debt in 2003. | |||
** | Ratio assumes $458 M of Trust Preferred Securities reclassified to debt in 2002 to be comparable to 2003. |