Consolidated Condensed Financial Statements.
IndexDefinitionsCALPINE CORPORATION
(Debtor-in-Possession)
CASE NO. 05-60200 (Jointly Administered)
NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
For the period from August 1, 2006, to August 31, 2006
1. Chapter 11 Cases and CCAA Proceedings
Since the Petition Date, Calpine Corporation and 273 of its wholly owned subsidiaries in the U.S. have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court. Similarly, since the Petition Date, 12 of Calpine’s Canadian subsidiaries have filed for creditor protection under the CCAA in the Canadian Court. Certain other subsidiaries could file under Chapter 11 in the U.S. or for creditor protection under the CCAA in Canada in the future. The Chapter 11 cases are being jointly administered for procedural purposes only by the U.S. Bankruptcy Court under the case captioned In re Calpine Corporation et al., Case No. 05-60200 (BRL). See Note 2 “Chapter 11 Cases and CCAA Proceedings” in our 2006 Second Quarter Form 10-Q for a summary of our Chapter 11 cases and CCAA proceedings.
On September 13, 2006, the U.S. Bankruptcy Court approved our motion to sell certain project assets located in Dighton, Massachusetts to BG North America, LLC, for approximately $90.2 million. Closing of the transaction is subject to certain conditions including the receipt of regulatory approvals.
In addition, on September 13, 2006, the U.S. Bankruptcy Court approved our motion seeking authority to make capital contributions for the continued development of Greenfield Energy Centre—a 1,005-MW, natural gas-fired energy center being developed in Ontario, Canada. In April 2005, we announced, together with Mitsui, an intention to build, own and operate the Greenfield Energy Centre. We contributed three combustion gas turbine generators and one steam turbine generator to the project, giving us a 50% interest in the facility. Mitsui owns the remaining 50% interest. We expect to make approximately $45 million in capital contributions to the project between now and December 2006.
On September 21, 2006, the U.S. Bankruptcy Court approved our motion to sell the project assets of Russell City Energy Center, LLC to a newly formed entity in which RCEC will have a 65% interest and Aircraft Services Corporation, an affiliate of General Electric Capital Corporation, will have a 35% interest. Under the terms of the transaction, RCEC has agreed to transfer to the newly formed entity project assets which the parties have agreed are valued at approximately $81 million and ASC has agreed to provide approximately $44 million of funding for the project. RCEC has the right to purchase ASC's 35% interest during the period beginning on the second anniversary and ending on the fifth anniversary of commercial operations of the project. Exercise of the buyout right requires 180 days prior written notice to ASC and payment of an amount necessary to yield a stipulated pre-tax internal rate of return to ASC, calculated using assumptions specified in the transaction agreements. Closing of the transaction is subject to certain conditions, including receipt of any required regulatory approvals.
On September 22, 2006, MEP Pleasant Hill, LLC, a wholly owned subsidiary of Calpine, entered into an asset purchase agreement with Aquila, Inc. to sell substantially all of the assets related to the Aries Project (as defined below) for approximately $158.5 million. The Aries Project is a 600-MW natural gas-fired, combined cycle generating facility in Cass County, Missouri. The sale is subject to bankruptcy court approval of an auction process in which qualifying bidders can make competing offers for the project. Closing of the transaction is subject to certain additional conditions including receipt of any required regulatory approvals.
On August 4, 2006, Calpine European Finance LLC, an indirect wholly owned subsidiary of Calpine, executed definitive documentation in which it agreed to sell its entire equity interest in Thomassen Turbine Systems, B.V., a Dutch wholly owned subsidiary of CEURF, to Ansaldo Energia S.p.A for a contract price (subject to certain adjustments) of €18,500,000. Closing of the transaction is subject to certain conditions including receipt of any required regulatory approvals. On August 17, 2006, the Canadian Bankruptcy Court entered an Order authorizing CEURF to sell its interest in TTS. On September 13, 2006, the U.S. Bankruptcy Court entered an order authorizing Power Systems Mfg. LLC, a U.S. Debtor entity,
13
to reject certain contracts with TTS and enter into new contracts with TTS as part of the TTS sale transaction. The proceeds of the sale will be deposited in an escrow account and ultimately divided among Calpine, PSM (a U.S. subsidiary of Calpine), and Calpine Canada Resources Company (a deconsolidated Canadian subsidiary of Calpine), based primarily on accounts receivable from TTS and certain other intercompany obligations.
2. Basis of Presentation
The accompanying consolidated condensed financial statements have been prepared on a going concern basis, which assumes continuity of operations and realization of assets and satisfaction of liabilities in the ordinary course of business, and in accordance with SOP 90-7, “Financial Reporting by Entities in Reorganization Under the Bankruptcy Code.” The consolidated condensed financial statements do not include any adjustments that might be required should we be unable to continue to operate as a going concern. In accordance with SOP 90-7, all pre-petition liabilities subject to compromise have been segregated in the consolidated condensed balance sheets and classified as LSTC, at the estimated amount of allowed claims. Interest expense related to pre-petition LSTC has been reported only to the extent that it will be paid during the pendency of the Chapter 11 cases or is expected to be an allowed claim. Liabilities not subject to compromise are separately classified as current or noncurrent. Expenses, provisions for losses resulting from reorganization and certain other items directly related to our Chapter 11 cases are reported separately as reorganization items.
The Monthly Operating Statement is limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the monthly reporting requirements of the U.S. Bankruptcy Court. Certain of our Canadian subsidiaries were granted relief by the Canadian Court under the CCAA. As a result, certain of our Canadian and other foreign subsidiaries were deconsolidated as of the Petition Date. Financial information regarding such deconsolidated subsidiaries is not included with that of the consolidated group reported in the Monthly Operating Statement. The financial information in the Monthly Operating Statement is preliminary and unaudited and does not purport to show the financial statements of any of the U.S. Debtors in accordance with GAAP, and therefore may exclude items required by GAAP, such as certain reclassifications, eliminations, accruals, valuations and disclosure items. We caution readers not to place undue reliance upon the Monthly Operating Statement. There can be no assurance that such information is complete and the Monthly Operating Statement may be subject to revision. The Monthly Operating Statement is in a format required by the Bankruptcy Code and should not be used for investment purposes. The Monthly Operating Statement should be read in conjunction with the consolidated financial statements and notes thereto included in the 2005 Form 10-K and the 2006 Forms 10-Q.
The unaudited financial statements contained in the Monthly Operating Statement have been derived from the books and records of the Company. This information, however, has not been subject to procedures that would typically be applied to financial information presented in accordance with GAAP, and upon the application of such procedures, we believe that the financial information could be subject to changes, and these changes could be material. The information furnished in this Monthly Operating Statement includes primarily normal recurring adjustments but does not include all of the adjustments that would typically be made for financial statements prepared in accordance with GAAP. In addition, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted.
Mark-to-Market — Mark-to-market, net activity includes realized settlements of and unrealized mark-to-market gains and losses on both power and gas derivative instruments not designated as cash flow hedges, including those held for trading purposes. Gains and losses due to ineffectiveness on hedging instruments are also included in unrealized mark-to-market gains and losses. Trading activity is presented net in accordance with EITF Issue No. 02-03. Of the total mark-to-market gain of $19.1 million in August 2006, there was $9.3 million of unrealized gains (mostly from open gas contracts), and we had a realized gain of $9.8 million. The realized gain included a non-cash gain of approximately $6.6 million from amortization of various items.
Per agreement among the Company, the Office of the U.S. Trustee and the Committee of Unsecured Creditors, the Statement of Cash Flows will be excluded from Monthly Operating Statements except on a quarterly basis.
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IndexDefinitions3. Summary of Significant Accounting Policies
See Note 2 “Summary of Significant Accounting Policies” in the Notes to Consolidated Financial Statements included in our 2005 Form 10-K and Note 1 “Basis of Presentation and Summary of Significant Accounting Policies” in the Notes to Consolidated Condensed Financial Statements included in each of the 2006 Forms 10-Q for a summary of the accounting policies that we believe are significant to us.
4. Recent Accounting Pronouncements
SFAS No. 123-R
In December 2004, FASB issued SFAS No. 123-R, which requires a public company to use the fair value method of accounting for stock-based compensation. We adopted this standard as of January 1, 2006, and applied the modified prospective transition method. The modified prospective approach applies to the unvested portion of all awards granted prior to January 1, 2006, and to all prospective awards. Prior financial statements are not restated under this method.
SFAS No. 123-R also requires the cash flows resulting from the tax benefits that occur from estimated tax deductions in excess of the compensation cost recognized be presented as financing cash flows in the statement of cash flows. Prior to adopting this statement, we presented tax benefits from allowable deductions as operating cash flows in our Consolidated Condensed Statement of Cash Flows.
As we previously adopted the fair value method of accounting under SFAS No. 123 as amended by SFAS No. 148, “Accounting for Stock-Based Compensation – Transition and Disclosure” on January 1, 2003, the adoption of SFAS No. 123-R did not have a material impact on our results of operations, cash flows or financial position.
SFAS No. 154
In May 2005, FASB issued SFAS No. 154, “Accounting Changes and Error Corrections.” This statement replaces APB Opinion No. 20, “Accounting Changes,” and FASB Statement No. 3, “Reporting Accounting Changes in Interim Financial Statements,” and changes the requirements for the accounting for and reporting of a change in accounting principle. SFAS No. 154 applies to all voluntary changes in accounting principle. SFAS No. 154 is effective for fiscal years beginning after December 15, 2005. Adoption of this statement did not materially impact our consolidated results of operations, cash flows or financial position.
FASB Interpretation No. 48
In June 2006, FASB issued FIN 48, “Accounting for Uncertainty in Income Taxes—An Interpretation of FASB Statement No. 109.” FIN 48 addresses the recognition and measurement of a tax position taken or expected to be taken in a tax return. This interpretation also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. FIN 48 is effective for fiscal years beginning after December 15, 2006, with early adoption permitted. We are currently assessing the impact this standard will have on our results of operations, cash flows and financial position.
5. Cash and Cash Equivalents, Restricted Cash and Margin Deposits
Cash and Cash Equivalents — We have certain project finance facilities and lease agreements that establish segregated cash accounts. These accounts have been pledged as security in favor of the lenders to such project finance facilities, and the use of certain cash balances on deposit in such accounts with our project financed securities is limited to the operations of the respective projects. At August 31, 2006, $564.9 million of the cash and cash equivalents balance was subject to such project finance facilities and lease agreements.
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IndexDefinitionsRestricted Cash — We are required to maintain cash balances that are restricted by provisions of certain of our debt and lease agreements or by regulatory agencies. These amounts are held by depository banks in order to comply with the contractual provisions requiring reserves for payments such as for debt service, rent, major maintenance and debt repurchases. Funds that can be used to satisfy obligations due during the next twelve months are classified as current restricted cash, with the remainder classified as non-current restricted cash. Restricted cash is generally invested in accounts earning market rates; therefore the carrying value approximates fair value.
The table below represents the components of our consolidated restricted cash as of August 31, 2006, (in thousands):
| | Current | | Non-Current | | Total | |
Debt service | | $ | 67,537 | | $ | 119,758 | | $ | 187,295 | |
Rent reserve | | | 32,505 | | | — | | | 32,505 | |
Construction/major maintenance | | | 85,608 | | | 32,901 | | | 118,509 | |
Proceeds from asset sales | | | — | | | — | | | — | |
Collateralized letters of credit and other credit support | | | 101,632 | | | — | | | 101,632 | |
Other | | | 85,625 | | | 47,972 | | | 133,597e | |
Total | | $ | 372,907 | | $ | 200,631 | | $ | 573,538 | |
As part of a prior business acquisition, which included certain facilities subject to a pre-existing operating lease, we acquired certain restricted cash balances comprised of a portfolio of debt securities. This portfolio is classified as held-to-maturity because we have the intent and ability to hold the securities to maturity. The securities are held in escrow accounts to support operating activities of the leased facilities and consist of a $17.0 million debt security maturing in 2015 and a $7.4 million debt security maturing in 2023. This portfolio is stated at amortized cost, adjusted for amortization of premiums and accretion discounts to maturity.
Of our restricted cash at August 31, 2006, $232.4 million relates to the assets of the following entities, each an entity with its existence separate from us and our other subsidiaries (in millions).
Power Contract Financing, L.L.C. | | $ | 117.5 | |
Gilroy Energy Center, LLC | | | 21.1 | |
Riverside Energy Center, LLC | | | 33.2 | |
Rocky Mountain Energy Center, LLC | | | 32.8 | |
Calpine Northbrook Energy Marketing, LLC | | | 6.3 | |
Calpine King City Cogen, LLC | | | 18.2 | |
Calpine Fox LLC | | | 1.0 | |
Power Contract Financing III, LLC | | | 2.3 | |
| | $ | 232.4 | |
Margin Deposits — As of August 31, 2006, to support commodity transactions, we had margin deposits with third parties of $194.1 million, we had gas and power prepayment balances of $101.4 million, and had letters of credit outstanding of $2.9 million. Counterparties had deposited with us $9.1 million as margin deposits and $10.0 million as letters of credit at August 31, 2006. We use margin deposits, prepayments and letters of credit as credit support for commodity procurement and risk management activities. Future cash collateral requirements may increase based on the extent of our involvement in standard contracts and movements in commodity prices and also based on our credit ratings and general perception of creditworthiness in this market. While we believe that we have adequate liquidity to support our operations at this time, it is difficult to predict future developments and the amount of credit support that we may need to provide as part of our business operations.
6. Rejected Contracts and Related Matters
The U.S. Debtors have assumed certain contracts and unexpired leases related to non-residential real property and have identified certain significant contracts and leases to be rejected or repudiated. See Note 2 “Chapter 11 Cases and CCAA
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IndexDefinitionsProceedings” in our 2006 Second Quarter Form 10-Q for a summary of significant developments in connection with these matters.
7. Liabilities Subject to Compromise
The claims bar dates—the dates by which claims against the Calpine Debtors (other than Calpine Geysers Company, L.P.) were to be filed with the applicable Bankruptcy Court—were set for August 1, 2006. On September 13, 2006, the U.S. Bankruptcy Court approved our motion to extend the claims bar date for claims against Calpine Geysers Company, L.P., one of the Calpine Debtors, to October 31, 2006. Accordingly, not all potential claims would have been filed as of August 31, 2006.
The amounts of LSTC at August 31, 2006 consisted of the following (in millions):
Accounts payable and accrued liabilities | | $ | 370.2 | |
Terminated derivative liabilities | | | 446.4 | |
Project financing | | | 164.0 | |
Convertible notes | | | 1,823.5 | |
Second priority senior secured notes(1) | | | 3,671.9 | |
Unsecured senior notes | | | 1,880.0 | |
Notes payable and other liabilities – related party | | | 1,149.0 | |
Provision for allowed claims(2) | | | 5,474.2 | |
Total liabilities subject to compromise | | $ | 14,979.2 | |
__________
(1) | We have not made, and currently do not propose to make, an affirmative determination whether our Second Priority Debt is fully secured or under-secured. We do, however, believe that there is uncertainty about whether the market value of the assets securing the obligations owing in respect of the Second Priority Debt is less than, equals or exceeds the amount of these obligations. Accordingly, we have classified the Second Priority Debt as LSTC. |
(2) | Consists primarily of estimated allowed claims related to guarantees by Calpine Corporation of repayment of unsecured senior notes (original principal amount of $2,597.2 million) for two wholly owned finance subsidiaries of the Company, ULC I and ULC II. The amounts outstanding to unrelated security holders had been reduced to $1,943.0 million at December 31, 2005, due to repurchases of such senior notes. However, some of the repurchased notes are held by certain of Calpine Corporation’s Canadian subsidiaries and are expected to give rise to allowed claims by these subsidiaries under the above guarantees. Additionally, there is a guarantee by Calpine Corporation of the obligations of its wholly owned subsidiary, Quintana Canada Holdings, LLC, under certain subscription agreements with ULC I, under which claims may be asserted for the same amounts sought under the Calpine Corporation guarantees of the ULC I notes. Although the expected claims are redundant relative to the underlying exposure to unrelated security holders, the Company determined that these duplicative claims were probable of being allowed into the claim pool by the U.S. Bankruptcy Court, although the U.S. Debtors fully reserve their rights in this regard. |
8. DIP Facility
On December 20, 2005, Calpine Corporation, as borrower, entered into the DIP Facility with Deutsche Bank Securities, Inc. and Credit Suisse, as joint syndication agents, Deutsche Bank Trust Company Americas as administrative agent for the First Priority Lenders and Credit Suisse as administrative agent for the Second Priority Lenders. On December 21, 2005, the U.S. Bankruptcy Court granted interim approval of the DIP Facility, but initially limited access under the DIP Facility to $500 million under the revolving credit facility. On January 26, 2006, the U.S. Bankruptcy Court entered a final order approving the DIP Facility and removing its previously imposed limitation on our ability to borrow thereunder. On February 23, 2006, the DIP Facility was amended and restated and the term loans were funded. The DIP Facility, which is guaranteed by each of the other U.S. Debtors, will remain in place until the earlier of an effective plan of reorganization or December 20, 2007. The DIP Facility is secured by first priority liens on all of the unencumbered assets of the U.S. Debtors, including The Geysers Assets, and junior liens on all of their encumbered assets. On May 3, 2006, the DIP
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IndexDefinitionsFacility was amended to, among other things, provide us with extensions of time to provide certain financial information to the DIP Facility lenders, including financial statements for the year ended December 31, 2005, and for the quarter ended March 31, 2006. In addition, the lenders under the DIP Facility consented to the use of borrowings under the DIP Facility to repay a portion of the First Priority Notes, subject to the U.S. Bankruptcy Court’s approval of such repayment.
In July 2006, the DIP Facility lenders consented to the assignment of certain PPAs by Broad River Energy, LLC, our subsidiary that leases the Broad River facility pursuant to a leveraged lease, to the owner-lessors of such facility in connection with a settlement agreement with the owner-lessors. The DIP Facility lenders also consented to Broad River’s granting to the owner-lessors a temporary security interest in the same PPAs until FERC approves the assignment. The July 2006 consent was conditioned upon the U.S. Bankruptcy Court’s approval of the settlement agreement with the owner-lessors, and the U.S. Bankruptcy Court approved the settlement agreement on June 27, 2006. FERC approval of the assignment of the PPAs is pending.
Pursuant to the DIP Facility, and applicable orders of the U.S. Bankruptcy Court, the lenders have made available to Calpine up to $2 billion comprised of a $1 billion revolving credit facility, a $400 million first priority term loan facility and a $600 million second priority term loan facility. The proceeds of borrowings and letters of credit issued under the DIP Facility will be used, among other things, for working capital and other general corporate purposes. A portion of the borrowings under the revolving loan facility in February 2006 were used to fund a portion of the costs in connection with the purchase of The Geysers Assets. In May 2006 and June 2006, a portion of the funds drawn under the term loan facilities, together with approximately $409 million of restricted cash, plus related interest thereon, were used to repay $646.1 million of the First Priority Notes. During the month of August 2006, there were no amounts outstanding under the revolving loan facility, and no additional letters of credit were issued against the revolving credit facility. Accordingly, at August 31, 2006, there was $998.3 million outstanding under the term loan facilities, nothing outstanding under the revolving credit facility and $11.7 million of letters of credit issued against the revolving credit facility.
See Note 22 of the Notes to Consolidated Financial Statements included in the 2005 Form 10-K, Note 6 of the Notes to Consolidated Condensed Financial Statements included in the 2006 First Quarter Form 10-Q and Note 7 of the Notes to Consolidated Condensed Financial Statements included in the 2006 Second Quarter Form 10-Q for further discussion of the DIP Facility.
9. Reorganization Items
Reorganization items represent the direct and incremental costs of being in Chapter 11, such as professional fees, pre-petition liability claim adjustments related to terminated contracts that are probable and can be estimated and charges related to expected allowed claims.
The table below lists the significant items recognized within this category for the month ended August 31, 2006 (in millions):
Provision for expected allowed claims(1) | | $ | 20.7 | |
Loss on terminated contracts, net | | | 6.8 | |
Professional fees | | | 11.6 | |
Total reorganization items | | $ | 39.1 | |
__________
(1) | The provision for expected allowed claims in August 2006 includes a $21.1 million increase due to the effects of foreign exchange rate changes on expected allowed claims from deconsolidated Canadian affiliates, which are governed by Canadian law and denominated in Canadian dollars. |
See Note 4 of the Notes to Consolidated Financial Statements included in our 2005 Form 10-K and Note 3 of the Notes to Consolidated Condensed Financial Statements included in each of our 2006 Forms 10-Q for a discussion of reorganization items.
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IndexDefinitionsSCHEDULE I
CALPINE CORPORATION
(Debtor-in-Possession)
CASE No. 05-60200 (Jointly Administered)
CONSOLIDATING CONDENSED BALANCE SHEET
(Unaudited)
(in thousands)
August 31, 2006
| | U.S. Debtors | | Non-U.S. Debtors | | Eliminations | | Consolidated | |
ASSETS | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 649,355 | | $ | 195,226 | | $ | — | | $ | 844,581 | |
Accounts receivable, net | | | 1,002,530 | | | 167,227 | | | (60,077 | ) | | 1,109,680 | |
Accounts receivable (payable) from affiliates, net | | | 38,700,165 | | | 2,951,537 | | | (41,651,702 | ) | | — | |
Margin deposits and other prepaid expense | | | 304,630 | | | 57,029 | | | (11,666 | ) | | 349,993 | |
Inventories | | | 146,679 | | | 27,085 | | | — | | | 173,764 | |
Restricted cash | | | 182,958 | | | 189,949 | | | — | | | 372,907 | |
Current derivative assets | | | 217,700 | | | 65,674 | | | — | | | 283,374 | |
Current assets held for sale | | | 39,542 | | | 344,722 | | | — | | | 384,264 | |
Other current assets | | | 1,006,564 | | | 55,242 | | | (916,108 | ) | | 145,698 | |
Total current assets | | | 42,250,123 | | | 4,053,691 | | | (42,639,553 | ) | | 3,664,261 | |
Restricted cash, net of current portion | | | 53,911 | | | 146,720 | | | — | | | 200,631 | |
Notes receivable, net of current portion | | | 146,051 | | | 1,674 | | | — | | | 147,725 | |
Notes receivable from affiliates, net of current portion | | | 4,225,498 | | | 38,100 | | | (4,263,598 | ) | | — | |
Project development costs | | | 26,319 | | | — | | | — | | | 26,319 | |
Investments | | | 11,701,529 | | | 9,673,489 | | | (21,267,926 | ) | | 107,092 | |
Deferred financing costs | | | 41,549 | | | 120,124 | | | — | | | 161,673 | |
Prepaid lease, net of current portion | | | 191,742 | | | 582 | | | — | | | 192,324 | |
Property, plant and equipment, net | | | 7,950,404 | | | 5,940,560 | | | (872 | ) | | 13,890,092 | |
Goodwill | | | 45,160 | | | — | | | — | | | 45,160 | |
Other intangible assets, net | | | 15,812 | | | 35,850 | | | — | | | 51,662 | |
Long-term derivative assets | | | 427,329 | | | 105,357 | | | — | | | 532,686 | |
Other assets | | | 303,387 | | | 295,031 | | | (11,723 | ) | | 586,695 | |
Intercompany | | | 569,357 | | | 22,081 | | | (591,438 | ) | | — | |
Total assets | | $ | 67,948,171 | | $ | 20,433,259 | | $ | (68,775,110 | ) | $ | 19,606,320 | |
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IndexDefinitionsCONSOLIDATING CONDENSED BALANCE SHEET — (Continued)
| | U.S. Debtors | | Non-U.S. Debtors | | Eliminations | | Consolidated | |
LIABILITIES AND STOCKHOLDERS’ DEFICIT | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | |
Accounts payable | | $ | 628,617 | | $ | 2,082,815 | | $ | (2,098,967 | ) | $ | 612,465 | |
Accrued payroll and related expense | | | 32,383 | | | 945 | | | — | | | 33,328 | |
Accrued interest payable | | | 328,671 | | | 54,319 | | | (238,507 | ) | | 144,483 | |
Income taxes payable | | | 99,073 | | | — | | | — | | | 99,073 | |
Notes payable and other borrowings, current portion | | | 748,134 | | | 140,233 | | | (738,718 | ) | | 149,649 | |
Preferred interests, current portion | | | — | | | 8,309 | | | — | | | 8,309 | |
Capital lease obligations, current portion | | | 189,531 | | | 99,575 | | | (1,860 | ) | | 287,246 | |
CCFC financing, current portion | | | — | | | 781,737 | | | — | | | 781,737 | |
CalGen financing, current portion | | | 2,510,673 | | | — | | | — | | | 2,510,673 | |
Construction/project financing, current portion | | | 133,667 | | | 1,834,373 | | | — | | | 1,968,040 | |
DIP Facility, current portion | | | 3,500 | | | — | | | — | | | 3,500 | |
Current derivative liabilities | | | 302,285 | | | 102,975 | | | — | | | 405,260 | |
Other current liabilities | | | 198,980 | | | 128,334 | | | (11,666 | ) | | 315,648 | |
Total current liabilities | | | 5,175,514 | | | 5,233,615 | | | (3,089,718 | ) | | 7,319,411 | |
Notes payable and other borrowings, net of current portion | | | 4,203,673 | | | 2,029,828 | | | (5,813,343 | ) | | 420,158 | |
Preferred interests, net of current portion | | | — | | | 575,306 | | | — | | | 575,306 | |
Capital lease obligations, net of current portion | | | 317,449 | | | — | | | (317,173 | ) | | 276 | |
Construction/project financing, net of current portion | | | 246,154 | | | 156,485 | | | — | | | 402,639 | |
DIP Facility, net of current portion | | | 994,750 | | | — | | | — | | | 994,750 | |
Deferred income taxes, net of current portion | | | 109,649 | | | 258,986 | | | — | | | 368,635 | |
Deferred revenue | | | 103,109 | | | 22,364 | | | (12,595 | ) | | 112,878 | |
Long-term derivative liabilities | | | 554,470 | | | 119,932 | | | — | | | 674,402 | |
Other liabilities | | | 132,680 | | | 29,052 | | | (3 | ) | | 161,729 | |
Total liabilities not subject to compromise | | | 11,837,448 | | | 8,425,568 | | | (9,232,832 | ) | | 11,030,184 | |
Liabilities subject to compromise | | | 53,474,236 | | | 469 | | | (38,495,479 | ) | | 14,979,226 | |
Commitments and contingencies | | | | | | | | | | | | | |
Minority interests | | | — | | | 268,119 | | | — | | | 268,119 | |
Stockholders’ equity (deficit): | | | | | | | | | | | | | |
Common stock | | | 31,566 | | | 5,099 | | | (36,096 | ) | | 569 | |
Additional paid-in capital | | | 25,684,928 | | | 10,424,973 | | | (32,840,464 | ) | | 3,269,437 | |
Accumulated deficit | | | (22,956,615 | ) | | 1,303,607 | | | 11,786,078 | | | (9,866,930 | ) |
Accumulated other comprehensive loss | | | (123,392 | ) | | 5,424 | | | 43,683 | | | (74,285 | ) |
Total stockholders’ deficit | | | 2,636,487 | | | 11,739,103 | | | (21,046,799 | ) | | (6,671,209 | ) |
Total liabilities and stockholders’ deficit | | $ | 67,948,171 | | $ | 20,433,259 | | $ | (68,775,110 | ) | $ | 19,606,320 | |
Calpine Corporation’s consolidated results are comprised of U.S. Debtor and Non-U.S. Debtor entities that have affiliated transactions with other U.S. Debtor and Non-U.S. Debtor entities that must be eliminated in consolidation. Amounts listed under the “Eliminations” heading are required to correctly eliminate transactions between any affiliated entities for consolidated financial statement presentation purposes.
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IndexDefinitionsSCHEDULE II
CALPINE CORPORATION
(Debtor-in-Possession)
CASE No. 05-60200 (Jointly Administered)
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
(Unaudited)
(in thousands)
For the Period from August 1, 2006, to August 31, 2006
| | U.S. Debtors | | Non-U.S. Debtors | | Eliminations | | Consolidated | |
Revenue: | | | | | | | | | | | | | |
Electricity and steam revenue | | $ | 1,138,047 | | $ | 340,430 | | $ | (690,957 | ) | $ | 787,520 | |
Sales of purchased power and gas for hedging and optimization | | | 589,792 | | | 20,125 | | | (508,784 | ) | | 101,133 | |
Mark-to-market activities, net | | | 6,017 | | | 13,080 | | | — | | | 19,097 | |
Other revenue | | | 40,133 | | | 2,631 | | | (38,280 | ) | | 4,484 | |
Total revenue | | | 1,773,989 | | | 376,266 | | | (1,238,021 | ) | | 912,234 | |
Cost of revenue: | | | | | | | | | | | | | |
Plant operating expense | | | 746,244 | | | 22,612 | | | (701,147 | ) | | 67,709 | |
Royalty expense | | | 2,413 | | | — | | | — | | | 2,413 | |
Transmission purchase expense | | | 4,230 | | | 2,846 | | | — | | | 7,076 | |
Purchased power and gas expense for hedging and optimization | | | 130,949 | | | 70,664 | | | (26,188 | ) | | 175,425 | |
Fuel expense | | | 767,941 | | | 178,948 | | | (510,725 | ) | | 436,164 | |
Depreciation and amortization expense | | | 19,808 | | | 15,697 | | | (2 | ) | | 35,503 | |
Operating plant impairments | | | 7 | | | — | | | — | | | 7 | |
Operating lease expense | | | 4,714 | | | — | | | — | | | 4,714 | |
Other cost of revenue | | | 2,072 | | | 3,410 | | | — | | | 5,482 | |
Total cost of revenue | | | 1,678,378 | | | 294,177 | | | (1,238,062 | ) | | 734,493 | |
Gross profit | | | 95,611 | | | 82,089 | | | 41 | | | 177,741 | |
(Income) loss from unconsolidated investments | | | (387,653 | ) | | (75,053 | ) | | 462,706 | | | — | |
Equipment, development project and other impairments | | | (1,040 | ) | | (3,413 | ) | | — | | | (4,453 | ) |
Project development expense | | | 1,533 | | | 275 | | | — | | | 1,808 | |
Research and development expense | | | 1,457 | | | — | | | — | | | 1,457 | |
Sales, general and administrative expense | | | 7,241 | | | 6,428 | | | — | | | 13,669 | |
Income (loss) from operations | | | 474,073 | | | 153,852 | | | (462,665 | ) | | 165,260 | |
Interest expense | | | 38,644 | | | 38,518 | | | (148 | ) | | 77,014 | |
Interest (income) | | | (7,519 | ) | | 560 | | | 148 | | | (6,811 | ) |
Minority interest expense | | | (2,927 | ) | | 5,064 | | | — | | | 2,137 | |
Other (income) expense, net | | | (10,259 | ) | | 1,974 | | | 41 | | | (8,244 | ) |
Income (loss) before reorganization items and provision (benefit) for income taxes | | | 456,134 | | | 107,736 | | | (462,706 | ) | | 101,164 | |
21
IndexDefinitionsCONSOLIDATING CONDENSED STATEMENT OF OPERATIONS — (Continued)
| | U.S. Debtors | | Non-U.S. Debtors | | Eliminations | | Consolidated | |
Reorganization items | | $ | 39,091 | | $ | — | | $ | — | | $ | 39,091 | |
Income (loss) before provision (benefit) for income taxes | | | 417,043 | | | 107,736 | | | (462,706 | ) | | 62,073 | |
Provision (benefit) for income taxes | | | (11 | ) | | 876 | | | — | | | 865 | |
Net income (loss) | | $ | 417,054 | | $ | 106,860 | | $ | (462,706 | ) | $ | 61,208 | |
Calpine Corporation’s consolidated results are comprised of U.S. Debtor and Non-U.S. Debtor entities that have affiliated transactions with other U.S. Debtor and Non-U.S. Debtor entities that must be eliminated in consolidation. Amounts listed under the “Eliminations” heading are required to correctly eliminate transactions between any affiliated entities for consolidated financial statement presentation purposes.
22
SCHEDULE III
CALPINE CORPORATION
(Debtor-in-Possession)
CASE No. 05-60200 (Jointly Administered)
SCHEDULE OF PAYROLL AND PAYROLL TAXES
(in thousands)
For the Period from August 1, 2006, to August 31, 2006
Gross Wages Paid**
| | Employee Payroll
Taxes Withheld* | | Employer Payroll
Taxes Remitted* |
$17,310 | | $4,399 | | $1,095 |
* | Employee Payroll Taxes are withheld each pay period and remitted by the Company, together with the Employer Payroll Taxes, to the appropriate tax authorities. |
** | Gross Wages were paid by the Company on August 4, 2006, August 11, 2006, August 18, 2006, and August 25, 2006. |
23
IndexDefinitionsSCHEDULE IV
CALPINE CORPORATION
(Debtor-in-Possession)
CASE No. 05-60200 (Jointly Administered)
SCHEDULE OF FEDERAL, STATE AND LOCAL TAXES
COLLECTED, RECEIVED, DUE OR WITHHELD
(in thousands)
For the Period from August 1, 2006, to August 31, 2006
| | Amount
Withheld/Accrued | | Amount
Paid | |
Federal and state income taxes | | $ | (11 | ) | $ | — | |
State and local taxes: | | | | | | | |
Property | | | 11,588 | | | 7,209 | |
Sales and use | | | 1,702 | | | 1,524 | |
Franchise | | | 400 | | | 400 | |
Other | | | 36 | | | 36 | |
Total state and local taxes | | | 13,726 | | | 9,169 | |
Total taxes | | $ | 13,715 | | $ | 9,169 | |
24
IndexDefinitionsSCHEDULE V
CALPINE CORPORATION
(Debtor-in-Possession)
CASE No. 05-60200 (Jointly Administered)
TOTAL DISBURSEMENTS BY DEBTOR
For the Month Ended August 31, 2006
(in dollars)
| Legal Entity | Case Number | Disbursements |
| Amelia Energy Center, LP | 05-60223-BRL | $ — |
| Anacapa Land Company, LLC | 05-60226-BRL | — |
| Anderson Springs Energy Company | 05-60232-BRL | — |
| Androscoggin Energy, Inc. | 05-60239-BRL | — |
| Auburndale Peaker Energy Center, LLC | 05-60244-BRL | 1,657 |
| Augusta Development Company, LLC | 05-60248-BRL | — |
| Aviation Funding Corp. | 05-60252-BRL | — |
| Baytown Energy Center, LP | 05-60255-BRL | 20,981 |
| Baytown Power GP, LLC | 05-60256-BRL | — |
| Baytown Power, LP | 05-60258-BRL | — |
| Bellingham Cogen, Inc. | 05-60224-BRL | — |
| Bethpage Energy Center 3, LLC | 05-60225-BRL | 9,321 |
| Bethpage Fuel Management Inc. | 05-60228-BRL | — |
| Blue Heron Energy Center, LLC | 05-60235-BRL | — |
| Blue Spruce Holdings, LLC | 05-60238-BRL | — |
| Broad River Energy LLC | 05-60242-BRL | 79,740 |
| Broad River Holdings, LLC | 05-60245-BRL | — |
| CalGen Equipment Finance Company, LLC | 05-60249-BRL | — |
| CalGen Equipment Finance Holdings, LLC | 05-60251-BRL | — |
| CalGen Expansion Company, LLC | 05-60253-BRL | — |
| CalGen Finance Corp. | 05-60229-BRL | — |
| CalGen Project Equipment Finance Company One, LLC | 05-60236-BRL | 233,197 |
| CalGen Project Equipment Finance Company Three, LLC | 05-60259-BRL | — |
| CalGen Project Equipment Finance Company Two, LLC | 05-60262-BRL | — |
| Calpine Acadia Holdings, LLC | 05-60265-BRL | — |
| Calpine Administrative Services Company, Inc. | 05-60201-BRL | 4,283,477 |
| Calpine Agnews, Inc. | 05-60268-BRL | — |
| Calpine Amelia Energy Center GP, LLC | 05-60270-BRL | — |
| Calpine Amelia Energy Center LP, LLC | 05-60272-BRL | — |
| Calpine Auburndale Holdings, LLC | 05-60452-BRL | — |
| Calpine Baytown Energy Center GP, LLC | 05-60453-BRL | — |
| Calpine Baytown Energy Center LP, LLC | 05-60320-BRL | — |
| Calpine Bethpage 3 Pipeline Construction Company, Inc. | 05-60330-BRL | — |
| Calpine Bethpage 3, LLC | 05-60342-BRL | — |
| Calpine c*Power, Inc. | 05-60250-BRL | — |
| Calpine CalGen Holdings, Inc. | 05-60352-BRL | — |
| Calpine California Development Company, LLC | 05-60355-BRL | — |
| Calpine California Energy Finance, LLC | 05-60360-BRL | — |
| Calpine California Equipment Finance Company, LLC | 05-60464-BRL | — |
| Calpine Calistoga Holdings, LLC | 05-60377-BRL | — |
| | | | |
25
IndexDefinitionsTOTAL DISBURSEMENTS BY DEBTOR — (Continued)
Legal Entity | Case Number | Disbursements |
Calpine Capital Trust | 05-60325-BRL | $ — |
Calpine Capital Trust II | 05-60379-BRL | — |
Calpine Capital Trust III | 05-60384-BRL | — |
Calpine Capital Trust IV | 05-60391-BRL | — |
Calpine Capital Trust V | 05-60221-BRL | — |
Calpine Central Texas GP, Inc. | 05-60329-BRL | — |
Calpine Central, Inc. | 05-60333-BRL | — |
Calpine Central, L.P. | 05-60351-BRL | 1,025,442 |
Calpine Central-Texas, Inc. | 05-60338-BRL | — |
Calpine Channel Energy Center GP, LLC | 05-60340-BRL | — |
Calpine Channel Energy Center LP, LLC | 05-60343-BRL | — |
Calpine Clear Lake Energy GP, LLC | 05-60345-BRL | — |
Calpine Clear Lake Energy, LP | 05-60349-BRL | — |
Calpine Cogeneration Corporation | 05-60233-BRL | — |
Calpine Construction Management Company, Inc. | 05-60260-BRL | 1,537,735 |
Calpine Corporation | 05-60200-BRL | 40,840,210 |
Calpine Corpus Christi Energy GP, LLC | 05-60247-BRL | — |
Calpine Corpus Christi Energy, LP | 05-60261-BRL | — |
Calpine Decatur Pipeline, Inc. | 05-60263-BRL | — |
Calpine Decatur Pipeline, L.P. | 05-60254-BRL | — |
Calpine Dighton, Inc. | 05-60264-BRL | — |
Calpine East Fuels, Inc. | 05-60257-BRL | — |
Calpine Eastern Corporation | 05-60266-BRL | 81,773 |
Calpine Energy Holdings, Inc. | 05-60207-BRL | — |
Calpine Energy Services Holdings, Inc. | 05-60208-BRL | — |
Calpine Energy Services, L.P. | 05-60222-BRL | 448,944,344 |
Calpine Finance Company | 05-60204-BRL | — |
Calpine Freestone Energy GP, LLC | 05-60227-BRL | — |
Calpine Freestone Energy, LP | 05-60230-BRL | — |
Calpine Freestone, LLC | 05-60231-BRL | — |
Calpine Fuels Corporation | 05-60203-BRL | — |
Calpine Gas Holdings LLC | 05-60234-BRL | — |
Calpine Generating Company, LLC | 05-60237-BRL | 597,427 |
Calpine Geysers Company, LP | 06-10939-BRL | 475 |
Calpine Gilroy 1, Inc. | 05-60240-BRL | — |
Calpine Gilroy 2, Inc. | 05-60241-BRL | — |
Calpine Gilroy Cogen, L.P. | 05-60243-BRL | 404,930 |
Calpine Global Services Company, Inc. | 05-60246-BRL | 11,657 |
Calpine Gordonsville GP Holdings, LLC | 05-60281-BRL | — |
Calpine Gordonsville LP Holdings, LLC | 05-60282-BRL | — |
Calpine Gordonsville, LLC | 05-60283-BRL | — |
Calpine Greenleaf Holdings, Inc. | 05-60284-BRL | — |
Calpine Greenleaf, Inc. | 05-60285-BRL | 614,942 |
Calpine Hidalgo Design, L.P. | 06-10039-BRL | — |
Calpine Hidalgo Energy Center, L.P. | 06-10029-BRL | 11,636 |
26
IndexDefinitionsTOTAL DISBURSEMENTS BY DEBTOR — (Continued)
Legal Entity | Case Number | Disbursements |
Calpine Hidalgo Holdings, Inc. | 06-10027-BRL | $ — |
Calpine Hidalgo Power GP, LLC | 06-10030-BRL | — |
Calpine Hidalgo Power, LP | 06-10028-BRL | — |
Calpine Hidalgo, Inc. | 06-10026-BRL | — |
Calpine International Holdings, Inc. | 05-60205-BRL | — |
Calpine International, LLC | 05-60288-BRL | 9,967 |
Calpine Investment Holdings, LLC | 05-60289-BRL | — |
Calpine Kennedy Airport, Inc. | 05-60294-BRL | — |
Calpine Kennedy Operators Inc. | 05-60199-BRL | — |
Calpine KIA, Inc. | 05-60465-BRL | — |
Calpine Leasing Inc. | 05-60297-BRL | — |
Calpine Long Island, Inc. | 05-60298-BRL | — |
Calpine Lost Pines Operations, Inc. | 05-60314-BRL | — |
Calpine Louisiana Pipeline Company | 05-60328-BRL | — |
Calpine Magic Valley Pipeline, Inc. | 05-60331-BRL | — |
Calpine Monterey Cogeneration, Inc. | 05-60341-BRL | 5,054 |
Calpine MVP, Inc. | 05-60348-BRL | — |
Calpine NCTP GP, LLC | 05-60359-BRL | — |
Calpine NCTP, LP | 05-60406-BRL | — |
Calpine Northbrook Corporation of Maine, Inc. | 05-60409-BRL | — |
Calpine Northbrook Energy Holdings, LLC | 05-60418-BRL | — |
Calpine Northbrook Energy, LLC | 05-60431-BRL | — |
Calpine Northbrook Holdings Corporation | 05-60286-BRL | — |
Calpine Northbrook Investors, LLC | 05-60291-BRL | — |
Calpine Northbrook Project Holdings, LLC | 05-60295-BRL | — |
Calpine Northbrook Services, LLC | 05-60299-BRL | — |
Calpine Northbrook Southcoast Investors, LLC | 05-60304-BRL | — |
Calpine NTC, LP | 05-60308-BRL | — |
Calpine Oneta Power I, LLC | 05-60311-BRL | — |
Calpine Oneta Power II, LLC | 05-60315-BRL | — |
Calpine Oneta Power, L.P. | 05-60318-BRL | 40,278 |
Calpine Operating Services Company, Inc. | 05-60322-BRL | 29,352,695 |
Calpine Operations Management Company, Inc. | 05-60206-BRL | — |
Calpine Pastoria Holdings, LLC | 05-60302-BRL | — |
Calpine Philadelphia, Inc. | 05-60305-BRL | 73 |
Calpine Pittsburg, LLC | 05-60307-BRL | 419,498 |
Calpine Power Company | 05-60202-BRL | 697 |
Calpine Power Equipment LP | 05-60310-BRL | — |
Calpine Power Management, Inc. | 05-60319-BRL | — |
Calpine Power Management, LP | 05-60466-BRL | — |
Calpine Power Services, Inc. | 05-60323-BRL | 199,031 |
Calpine Power, Inc. | 05-60316-BRL | — |
Calpine PowerAmerica, Inc. | 05-60211-BRL | — |
Calpine PowerAmerica, LP | 05-60212-BRL | 957,796 |
Calpine PowerAmerica-CA, LLC | 05-60213-BRL | 90,619 |
27
IndexDefinitionsTOTAL DISBURSEMENTS BY DEBTOR — (Continued)
Legal Entity | Case Number | Disbursements |
Calpine PowerAmerica-CT, LLC | 05-60214-BRL | $ — |
Calpine PowerAmerica-MA, LLC | 05-60215-BRL | — |
Calpine PowerAmerica-ME, LLC | 05-60216-BRL | — |
Calpine PowerAmerica-NH, LLC | 06-10032-BRL | — |
Calpine PowerAmerica-NY, LLC | 06-10031-BRL | — |
Calpine PowerAmerica-OR, LLC | 06-10034-BRL | — |
Calpine Producer Services, L.P. | 05-60217-BRL | 7,189,130 |
Calpine Project Holdings, Inc. | 05-60324-BRL | — |
Calpine Pryor, Inc. | 05-60326-BRL | — |
Calpine Rumford I, Inc. | 05-60327-BRL | — |
Calpine Rumford, Inc. | 05-60414-BRL | — |
Calpine Schuylkill, Inc. | 05-60416-BRL | — |
Calpine Siskiyou Geothermal Partners, L.P. | 05-60420-BRL | 117,851 |
Calpine Sonoran Pipeline LLC | 05-60423-BRL | — |
Calpine Stony Brook Operators, Inc. | 05-60424-BRL | — |
Calpine Stony Brook Power Marketing, LLC | 05-60425-BRL | — |
Calpine Stony Brook, Inc. | 05-60426-BRL | — |
Calpine Sumas, Inc. | 05-60427-BRL | — |
Calpine TCCL Holdings, Inc. | 05-60429-BRL | — |
Calpine Texas Pipeline GP, Inc. | 05-60433-BRL | — |
Calpine Texas Pipeline LP, Inc. | 05-60439-BRL | — |
Calpine Texas Pipeline, L.P. | 05-60447-BRL | 5,143 |
Calpine Tiverton I, Inc. | 05-60450-BRL | — |
Calpine Tiverton, Inc. | 05-60451-BRL | — |
Calpine ULC I Holding, LLC | 05-60454-BRL | — |
Calpine University Power, Inc. | 05-60455-BRL | — |
Calpine Unrestricted Funding, LLC | 05-60456-BRL | — |
Calpine Unrestricted Holdings, LLC | 05-60458-BRL | — |
Calpine Vapor, Inc. | 05-60459-BRL | — |
Carville Energy LLC | 05-60460-BRL | 88,737 |
CCFC Development Company, LLC | 05-60267-BRL | — |
CCFC Equipment Finance Company, LLC | 05-60269-BRL | — |
CCFC Project Equipment Finance Company One, LLC | 05-60271-BRL | — |
Celtic Power Corporation | 05-60273-BRL | — |
CES GP, LLC | 05-60218-BRL | — |
CGC Dighton, LLC | 05-60274-BRL | — |
Channel Energy Center, LP | 05-60275-BRL | 78,951 |
Channel Power GP, LLC | 05-60276-BRL | — |
Channel Power, LP | 05-60277-BRL | — |
Clear Lake Cogeneration Limited Partnership | 05-60278-BRL | 716,972 |
CogenAmerica Asia Inc. | 05-60372-BRL | — |
CogenAmerica Parlin Supply Corp. | 05-60383-BRL | — |
Columbia Energy LLC | 05-60440-BRL | 13,832 |
Corpus Christi Cogeneration L.P. | 05-60441-BRL | 22,255 |
CPN 3rd Turbine, Inc. | 05-60443-BRL | — |
28
IndexDefinitionsTOTAL DISBURSEMENTS BY DEBTOR — (Continued)
Legal Entity | Case Number | Disbursements |
CPN Acadia, Inc. | 05-60444-BRL | $ — |
CPN Berks Generation, Inc. | 05-60445-BRL | — |
CPN Berks, LLC | 05-60446-BRL | — |
CPN Bethpage 3rd Turbine, Inc. | 05-60448-BRL | 185,481 |
CPN Cascade, Inc. | 05-60449-BRL | — |
CPN Clear Lake, Inc. | 05-60287-BRL | — |
CPN Decatur Pipeline, Inc. | 05-60290-BRL | — |
CPN East Fuels, LLC | 05-60476-BRL | — |
CPN Energy Services GP, Inc. | 05-60209-BRL | — |
CPN Energy Services LP, Inc. | 05-60210-BRL | — |
CPN Freestone, LLC | 05-60293-BRL | — |
CPN Funding, Inc. | 05-60296-BRL | — |
CPN Morris, Inc. | 05-60301-BRL | — |
CPN Oxford, Inc. | 05-60303-BRL | — |
CPN Pipeline Company | 05-60309-BRL | 161,748 |
CPN Pleasant Hill Operating, LLC | 05-60312-BRL | — |
CPN Pleasant Hill, LLC | 05-60317-BRL | — |
CPN Power Services GP, LLC | 05-60321-BRL | — |
CPN Power Services, LP | 05-60292-BRL | — |
CPN Pryor Funding Corporation | 05-60300-BRL | 3,315 |
CPN Telephone Flat, Inc. | 05-60306-BRL | 114,530 |
Decatur Energy Center, LLC | 05-60313-BRL | 596,372 |
Deer Park Power GP, LLC | 05-60363-BRL | — |
Deer Park Power, LP | 05-60370-BRL | — |
Delta Energy Center, LLC | 05-60375-BRL | 42,352 |
Dighton Power Associates Limited Partnership | 05-60382-BRL | 31,625 |
East Altamont Energy Center, LLC | 05-60386-BRL | 1,204 |
Fond du Lac Energy Center, LLC | 05-60412-BRL | — |
Fontana Energy Center, LLC | 05-60335-BRL | — |
Freestone Power Generation LP | 05-60339-BRL | 241,651 |
GEC Bethpage Inc. | 05-60347-BRL | — |
Geothermal Energy Partners, LTD., a California limited partnership | 05-60477-BRL | — |
Geysers Power Company II, LLC | 05-60358-BRL | — |
Geysers Power Company, LLC | 06-10197-BRL | 3,168,943 |
Geysers Power I Company | 05-60389-BRL | — |
Goldendale Energy Center, LLC | 05-60390-BRL | 932,152 |
Hammond Energy LLC | 05-60393-BRL | — |
Hillabee Energy Center, LLC | 05-60394-BRL | 73,223 |
Idlewild Fuel Management Corp. | 05-60397-BRL | — |
JMC Bethpage, Inc. | 05-60362-BRL | — |
KIAC Partners | 05-60366-BRL | 5,658,987 |
Lake Wales Energy Center, LLC | 05-60369-BRL | — |
Lawrence Energy Center, LLC | 05-60371-BRL | — |
Lone Oak Energy Center, LLC | 05-60403-BRL | 31,095 |
Los Esteros Critical Energy Facility, LLC | 05-60404-BRL | 56,592 |
29
IndexDefinitionsTOTAL DISBURSEMENTS BY DEBTOR — (Continued)
Legal Entity | Case Number | Disbursements |
Los Medanos Energy Center LLC | 05-60405-BRL | $ 4,448,558 |
Magic Valley Gas Pipeline GP, LLC | 05-60407-BRL | — |
Magic Valley Gas Pipeline, LP | 05-60408-BRL | — |
Magic Valley Pipeline, L.P. | 05-60332-BRL | 4,036 |
MEP Pleasant Hill, LLC | 05-60334-BRL | 328,327 |
Moapa Energy Center, LLC | 05-60337-BRL | — |
Mobile Energy L L C | 05-60344-BRL | 10,794 |
Modoc Power, Inc. | 05-60346-BRL | — |
Morgan Energy Center, LLC | 05-60353-BRL | 124,284 |
Mount Hoffman Geothermal Company, L.P. | 05-60361-BRL | — |
Mt. Vernon Energy LLC | 05-60376-BRL | — |
NewSouth Energy LLC | 05-60381-BRL | — |
Nissequogue Cogen Partners | 05-60388-BRL | 1,505,243 |
Northwest Cogeneration, Inc. | 05-60336-BRL | — |
NTC Five, Inc. | 05-60463-BRL | — |
NTC GP, LLC | 05-60350-BRL | — |
Nueces Bay Energy LLC | 05-60356-BRL | — |
O.L.S. Energy-Agnews, Inc. | 05-60374-BRL | 891,621 |
Odyssey Land Acquisition Company | 05-60367-BRL | — |
Pajaro Energy Center, LLC | 05-60385-BRL | — |
Pastoria Energy Center, LLC | 05-60387-BRL | — |
Pastoria Energy Facility L.L.C. | 05-60410-BRL | 757,864 |
Philadelphia Biogas Supply, Inc. | 05-60421-BRL | — |
Phipps Bend Energy Center, LLC | 05-60395-BRL | — |
Pine Bluff Energy, LLC | 05-60396-BRL | 369,998 |
Power Investors, L.L.C. | 05-60398-BRL | — |
Power Systems MFG., LLC | 05-60399-BRL | 4,725,558 |
Quintana Canada Holdings, LLC | 05-60400-BRL | — |
RockGen Energy LLC | 05-60401-BRL | 2,792,226 |
Rumford Power Associates Limited Partnership | 05-60467-BRL | 8,577 |
Russell City Energy Center, LLC | 05-60411-BRL | 73,307 |
San Joaquin Valley Energy Center, LLC | 05-60413-BRL | 10,000 |
Silverado Geothermal Resources, Inc. | 06-10198-BRL | 6,674 |
Skipanon Natural Gas, LLC | 05-60415-BRL | — |
South Point Energy Center, LLC | 05-60417-BRL | 3,157,010 |
South Point Holdings, LLC | 05-60419-BRL | — |
Stony Brook Cogeneration, Inc. | 05-60422-BRL | — |
Stony Brook Fuel Management Corp. | 05-60428-BRL | — |
Sutter Dryers, Inc. | 05-60430-BRL | — |
TBG Cogen Partners | 05-60432-BRL | 53,995 |
Texas City Cogeneration, L.P. | 05-60434-BRL | 756,928 |
Texas Cogeneration Company | 05-60435-BRL | — |
Texas Cogeneration Five, Inc. | 05-60436-BRL | — |
Texas Cogeneration One Company | 05-60437-BRL | — |
Thermal Power Company | 05-60438-BRL | — |
30
IndexDefinitionsTOTAL DISBURSEMENTS BY DEBTOR — (Continued)
Legal Entity | Case Number | Disbursements |
Thomassen Turbine Systems America, Inc. | 05-60354-BRL | $ 3,000 |
Tiverton Power Associates Limited Partnership | 05-60357-BRL | 8,988 |
Towantic Energy, L.L.C. | 05-60364-BRL | 108 |
VEC Holdings, LLC | 05-60365-BRL | — |
Venture Acquisition Company | 05-60368-BRL | — |
Vineyard Energy Center, LLC | 05-60373-BRL | — |
Wawayanda Energy Center, LLC | 05-60378-BRL | — |
Whatcom Cogeneration Partners, L.P. | 05-60468-BRL | — |
Zion Energy LLC | 05-60380-BRL | 842,491 |
| | |
TOTAL | | $ 570,186,380 |
31
IndexDefinitionsSCHEDULE VI
CALPINE CORPORATION
(Debtor-in-Possession)
CASE No. 05-60200 (Jointly Administered)
DEBTORS’ STATEMENT REGARDING INSURANCE POLICIES
For the Period from August 1, 2006, to August 31, 2006
All insurance policies are fully paid for the current period, including amounts owed for workers’ compensation and disability insurance.
32
