NEW ENGLAND POWER COMPANY
Balance Sheet
At June 30, 1998
(Actual and Pro Forma)
(Unaudited)
ASSETS
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Actual Adjustments Pro Forma
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(In Thousands)
Utility plant, at original cost $3,084,842 $(1,848,677) $1,236,165
Less accumulated provisions for
depreciation and amortization 1,234,869 (807,674) 427,195
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1,849,973(1,041,003) 808,970
Construction work in progress 30,217 (5,087) 25,130
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Net utility plant 1,880,190(1,046,090) 834,100
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Investments:
Nuclear power companies, at equity 47,443 - 47,443
Non-utility property and other investments 35,191 (769) 34,422
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Total investments 82,634 (769) 81,865
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Current assets:
Cash 1,001 659,481 660,482
Accounts receivable:
Affiliated companies 232,000 - 232,000
Others 27,031 - 27,031
Fuel, materials, and supplies, at average cost 59,680 (50,724) 8,956
Prepaid and other current assets 55,514 (17,876) 37,638
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Total current assets 375,226 590,881 966,107
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Accrued Yankee nuclear plant costs 272,939 - 272,939
Deferred charges and other assets 462,542 1,016,642 1,479,184
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$3,073,531$ 560,664$3,634,195
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CAPITALIZATION AND LIABILITIES
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Capitalization:
Common stock, par value $20 per share,
authorized and outstanding 6,449,896 shares $ 128,998 $ - $ 128,998
Premiums on capital stocks 86,779 - 86,779
Other paid-in capital 319,818 34,484 354,302
Retained earnings 462,968 1,503 464,471
Unrealized gains on securities, net 55 - 55
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Total common equity 998,618 35,987 1,034,605
Cumulative preferred stock, par value $100
per share 39,666 - 39,666
Long-term debt 647,829 (278,010) 369,819
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Total capitalization 1,686,113 (242,023) 1,444,090
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Current liabilities:
Short-term debt (including $159,175,000
to affiliates) 366,950 (366,950) -
Accounts payable (including $6,118,000
to affiliates) 113,723 - 113,723
Accrued liabilities:
Taxes 10,552 - 10,552
Interest 8,217 - 8,217
Other accrued expenses 30,913 80,525 111,438
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Total current liabilities 530,355 (286,425) 243,930
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Deferred federal and state income taxes 414,527 (211,625) 202,902
Unamortized investment tax credits 52,452 (22,333) 30,119
Accrued Yankee nuclear plant costs 272,939 - 272,939
Other reserves and deferred credits 117,145 1,323,070 1,440,215
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$3,073,531$ 560,664$3,634,195
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The accompanying notes are an integral part of these financial statements.