Exhibit 99.3
Schedule 2
CINERGY CORP.
CONSOLIDATED BALANCE SHEETS
(unaudited)
(in thousands)
|
| December 31 |
| December 31 |
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|
| 2005 |
| 2004 |
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|
|
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ASSETS |
|
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|
|
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Current Assets |
|
|
|
|
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Cash and cash equivalents |
| $ | 146,056 |
| $ | 162,526 |
|
Notes receivable, current |
| 287,502 |
| 214,513 |
| ||
Accounts receivable less accumulated provision for doubtful accounts of $4,767 at December 31, 2005, and $5,059 at December 31, 2004 |
| 1,415,209 |
| 1,036,119 |
| ||
Fuel, emission allowances, and supplies |
| 589,152 |
| 442,951 |
| ||
Energy risk management current assets |
| 991,252 |
| 381,146 |
| ||
Prepayments and other |
| 408,975 |
| 173,203 |
| ||
Total current assets |
| 3,838,146 |
| 2,410,458 |
| ||
|
|
|
|
|
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Property, Plant, and Equipment - at Cost |
|
|
|
|
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Utility plant in service |
| 10,714,000 |
| 10,076,468 |
| ||
Construction work in progress |
| 501,294 |
| 333,687 |
| ||
Total utility plant |
| 11,215,294 |
| 10,410,155 |
| ||
Non-regulated property, plant, and equipment |
| 4,775,570 |
| 4,549,128 |
| ||
Accumulated depreciation |
| 5,477,782 |
| 5,147,556 |
| ||
Net property, plant, and equipment |
| 10,513,082 |
| 9,811,727 |
| ||
|
|
|
|
|
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Other Assets |
|
|
|
|
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Regulatory assets |
| 1,069,854 |
| 1,030,333 |
| ||
Investments in unconsolidated subsidiaries |
| 479,466 |
| 513,675 |
| ||
Energy risk management non-current assets |
| 306,959 |
| 138,787 |
| ||
Notes receivable, non-current |
| 171,325 |
| 193,857 |
| ||
Other investments |
| 128,150 |
| 125,367 |
| ||
Goodwill and intangible assets |
| 169,081 |
| 118,619 |
| ||
Restricted funds held in trust |
| 301,800 |
| 358,006 |
| ||
Other |
| 185,062 |
| 117,870 |
| ||
Total other assets |
| 2,811,697 |
| 2,596,514 |
| ||
|
|
|
|
|
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Assets of Discontinued Operations |
| 34,215 |
| 163,618 |
| ||
|
|
|
|
|
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Total Assets |
| $ | 17,197,140 |
| $ | 14,982,317 |
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|
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LIABILITIES AND SHAREHOLDERS’ EQUITY |
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Current Liabilities |
|
|
|
|
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Accounts payable |
| $ | 1,922,867 |
| $ | 1,344,780 |
|
Accrued taxes |
| 219,469 |
| 217,106 |
| ||
Accrued interest |
| 64,725 |
| 54,473 |
| ||
Notes payable and other short-term obligations |
| 923,600 |
| 948,327 |
| ||
Long-term debt due within one year |
| 352,589 |
| 219,967 |
| ||
Energy risk management current liabilities |
| 1,010,585 |
| 310,741 |
| ||
Other |
| 193,323 |
| 168,734 |
| ||
Total current liabilities |
| 4,687,158 |
| 3,264,128 |
| ||
|
|
|
|
|
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Non-current Liabilities |
|
|
|
|
| ||
Long-term debt |
| 4,393,442 |
| 4,227,475 |
| ||
Deferred income taxes |
| 1,523,070 |
| 1,587,557 |
| ||
Unamortized investment tax credits |
| 90,852 |
| 99,723 |
| ||
Accrued pension and other postretirement benefit costs |
| 729,221 |
| 688,277 |
| ||
Regulatory liabilities |
| 546,047 |
| 557,419 |
| ||
Energy risk management non-current liabilities |
| 338,514 |
| 127,340 |
| ||
Other |
| 250,822 |
| 219,439 |
| ||
Total non-current liabilities |
| 7,871,968 |
| 7,507,230 |
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|
|
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|
|
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Liabilities of Discontinued Operations |
| 28,876 |
| 32,219 |
| ||
|
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|
|
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Total Liabilities |
| 12,588,002 |
| 10,803,577 |
| ||
|
|
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Cumulative Preferred Stock of Subsidiaries |
|
|
|
|
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Not subject to mandatory redemption |
| 31,743 |
| 62,818 |
| ||
|
|
|
|
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Common Stock Equity |
|
|
|
|
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Common stock - $0.01 par value; authorized shares - 600,000,000; issued shares - 199,707,338 at December 31, 2005 and 187,653,506 at December 31, 2004; outstanding shares - 199,565,684 at December 31, 2005 and 187,524,229 at December 31, 2004 |
| 1,997 |
| 1,877 |
| ||
Paid-in capital |
| 2,982,625 |
| 2,559,715 |
| ||
Retained earnings |
| 1,721,716 |
| 1,613,340 |
| ||
Treasury shares at cost - 141,654 at December 31, 2005, and 129,277 shares at December 31, 2004 |
| (4,823 | ) | (4,336 | ) | ||
Accumulated other comprehensive income (loss) |
| (124,120 | ) | (54,674 | ) | ||
Total common stock equity |
| 4,577,395 |
| 4,115,922 |
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|
|
|
|
|
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Total Liabilities and Shareholders’ Equity |
| $ | 17,197,140 |
| $ | 14,982,317 |
|
Note: Prior year data has been reclassified to conform with current year presentation.