Exhibit 99.3
CINERGY CORP.
CONSOLIDATED BALANCE SHEETS
(unaudited)
(in thousands)
|
| September 30 |
| December 31 |
| ||
|
|
|
|
|
| ||
ASSETS |
|
|
|
|
| ||
Current Assets |
|
|
|
|
| ||
Cash and temporary cash investments |
| $ | 486,400 |
| $ | 200,112 |
|
Restricted deposits |
| 709 |
| 3,092 |
| ||
Notes receivable |
| 63,594 |
| 135,873 |
| ||
Accounts receivable less accumulated provision for doubtful accounts of $10,873 at September 30, 2003, and $16,368 at December 31, 2002 |
| 1,029,127 |
| 1,280,810 |
| ||
Materials, supplies and fuel - at average cost |
| 319,632 |
| 319,454 |
| ||
Prepayments and other |
| 138,236 |
| 107,086 |
| ||
Energy risk management current assets |
| 224,299 |
| 464,028 |
| ||
Total current assets |
| 2,261,997 |
| 2,510,455 |
| ||
|
|
|
|
|
| ||
Property, Plant, and Equipment - at Cost |
|
|
|
|
| ||
Utility plant in service |
| 9,557,536 |
| 8,641,351 |
| ||
Construction work in progress |
| 288,069 |
| 469,300 |
| ||
Total Utility Plant |
| 9,845,605 |
| 9,110,651 |
| ||
Non-regulated property, plant, and equipment |
| 4,326,626 |
| 4,616,754 |
| ||
Accumulated depreciation |
| 5,319,500 |
| 5,157,040 |
| ||
Net property, plant, and equipment |
| 8,852,731 |
| 8,570,365 |
| ||
|
|
|
|
|
| ||
Other Assets |
|
|
|
|
| ||
Regulatory assets |
| 1,012,457 |
| 1,022,696 |
| ||
Investments in unconsolidated subsidiaries |
| 482,978 |
| 417,188 |
| ||
Energy risk management non-current assets |
| 127,407 |
| 162,773 |
| ||
Notes receivable non-current |
| 218,347 |
| — |
| ||
Other investments |
| 173,790 |
| 163,851 |
| ||
Other |
| 346,265 |
| 312,435 |
| ||
Total other assets |
| 2,361,244 |
| 2,078,943 |
| ||
|
|
|
|
|
| ||
Assets of Discontinued Operations |
| 7,187 |
| 147,265 |
| ||
|
|
|
|
|
| ||
Total Assets |
| $ | 13,483,159 |
| $ | 13,307,028 |
|
|
|
|
|
|
| ||
LIABILITIES AND EQUITY |
|
|
|
|
| ||
Current Liabilities |
|
|
|
|
| ||
Accounts payable |
| $ | 947,882 |
| $ | 1,318,379 |
|
Accrued taxes |
| 228,225 |
| 258,613 |
| ||
Accrued interest |
| 79,161 |
| 62,244 |
| ||
Notes payable and other short-term obligations |
| 336,687 |
| 667,973 |
| ||
Long-term debt due within one year |
| 1,113,319 |
| 176,000 |
| ||
Energy risk management current liabilities |
| 186,146 |
| 407,710 |
| ||
Other |
| 133,677 |
| 105,026 |
| ||
Total current liabilities |
| 3,025,097 |
| 2,995,945 |
| ||
|
|
|
|
|
| ||
Non-current Liabilities |
|
|
|
|
| ||
Long-term debt |
| 4,129,946 |
| 4,011,568 |
| ||
Deferred income taxes |
| 1,519,097 |
| 1,458,171 |
| ||
Unamortized investment tax credits |
| 111,186 |
| 118,095 |
| ||
Accrued pension and other post-retirement benefit costs |
| 606,375 |
| 626,167 |
| ||
Energy risk management non-current liabilities |
| 117,777 |
| 143,991 |
| ||
Other |
| 233,768 |
| 179,767 |
| ||
Total non-current liabilities |
| 6,718,149 |
| 6,537,759 |
| ||
|
|
|
|
|
| ||
Liabilities of Discontinued Operations |
| 8,877 |
| 108,833 |
| ||
|
|
|
|
|
| ||
Total Liabilities |
| 9,752,123 |
| 9,642,537 |
| ||
|
|
|
|
|
| ||
Preferred Trust Securities |
|
|
|
|
| ||
Company obligated mandatorily redeemable preferred trust securities of subsidiary holding solely debt securities of the company |
| — |
| 308,187 |
| ||
|
|
|
|
|
| ||
Cumulative Preferred Stock of Subsidiaries |
|
|
|
|
| ||
Not subject to mandatory redemption |
| 62,818 |
| 62,828 |
| ||
|
|
|
|
|
| ||
Common Stock Equity |
|
|
|
|
| ||
Common stock - $0.01 par value; authorized shares - 600,000,000; outstanding shares - 177,899,822 at September 30, 2003, and 168,663,115 at December 31, 2002 |
| 1,779 |
| 1,687 |
| ||
Paid-in capital |
| 2,170,392 |
| 1,918,136 |
| ||
Retained earnings |
| 1,525,727 |
| 1,403,453 |
| ||
Accumulated other comprehensive income |
| (29,680 | ) | (29,800 | ) | ||
Total common stock equity |
| 3,668,218 |
| 3,293,476 |
| ||
|
|
|
|
|
| ||
Total Liabilities and Equity |
| $ | 13,483,159 |
| $ | 13,307,028 |
|
Note: Prior year’s data has been reclassified to conform with current year’s presentation.
