Exhibit 99.1
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Western Resources(R)
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Westar Energy(TM)
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June 10, 2002
Westar Energy Debt
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Unconsolidated Consolidated ($ in millions)
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Long Term (less cash investments) $ 3,006 $ 3,254
Short Term $ 3 $ 3
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Total $ 3,009 $ 3,257
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Upcoming Maturities: Unconsolidated Consolidated
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Unsec. 6.25% P/C 8/03 $ 258 $ 242
Unsec. 6.875% 8/04 $ 317 $ 305
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$ 575 $ 547
Total ============== =============
Revolver ($150 available) $0
Preferred Securities:
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QUIPS $220
Preferred Stock $22
Off-balance sheet:
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LaCygne Sale-Leaseback $271
Accounts Receivable $95
Railcar Leases $35
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Westar Energy(TM)
2
Westar Industries
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Cash on hand $81 million
P-1 stock 85.3 million shares
P-1 line-of-credit $187 million drawn of $205 million
P-1 bonds $14 million of the 6.75%'s
P-1 Europe $20 million of tangible book value
OKE stock 4.7 million shares of common, 39.9 million
equivalent shares of preferred
WR stock 19.8 million shares
WR bonds $16 million of the 6.25%'s and $12 million of
the 6.875%'s
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Westar Energy(TM)
3
Shares Outstanding
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Fully
Primary Diluted
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Primary 71,523,113 91,839,754
Options 249,023 249,023
RSU's 1,799,835 1,799,835
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Total 73,571,971 93,888,612
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Shareholders of note
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Westar Industries 19,816,641
Weitz & Co. 6,578,100
GAMCO 3,618,300
Alliance Capital 3,237,731
WR Board/Exec. Officers 1,545,832
Protection One, Inc. 500,000
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Westar Energy(TM)
4
2002 Earnings Performance
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($ in millions, except per share amounts)
Q1 Q1 April & May April & May Q2 Full Year
Actual Budget Actual Budget Budget Budget
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Utility EBITDA $104.60 $100.60 $57.30 $66.50 $113.20 $525.00
Utility EBIT $56.60 $51.20 $24.70 $33.50 $63.60 $325.00
Security Segment EPS ($0.05) ($0.14) $0.00 ($0.08) ($0.12) ($0.50)
Consolidated Operating EPS $0.36 $0.03 $0.07 $0.05 $0.18 $1.27
Note: Excludes effect of FAS 142/144 accounting change and one-time items.
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Westar Energy(TM)
5
Forward-looking statements: The matters discussed here and elsewhere in this
investor presentation are "forward-looking statements." The Private Securities
Litigation Reform Act of 1995 has established that these statements qualify for
safe harbors from liability. Forward-looking statements may include words like
we "believe," "anticipate," "expect" or words of similar meaning.
Forward-looking statements describe our future plans, objectives, expectations
or goals. Such statements address future events and conditions concerning
capital expenditures, earnings, liquidity and capital resources, litigation,
rate and other regulatory matters, possible corporate restructurings, mergers,
acquisitions, dispositions, including the proposed separation of Westar
Industries, Inc., from our electric utility businesses and the consummation of
the acquisition of our electric operations by Public Service Company of New
Mexico, compliance with debt covenants, changes in accounting requirements and
other accounting matters, interest and dividends, Protection One's financial
condition and its impact on our consolidated results, environmental matters,
changing weather, nuclear operations, ability to enter new markets successfully
and capitalize on growth opportunities in non-regulated businesses, events in
foreign markets in which investments have been made, and the overall economy of
our service area. What happens in each case could vary materially from what we
expect because of such things as electric utility deregulation, ongoing
municipal, state and federal activities, such as the Wichita municipalization
efforts; future economic conditions; legislative and regulatory developments;
competitive markets; and other circumstances affecting anticipated operations,
sales and costs. Any forward-looking statement speaks only as of the date such
statement was made, and we do not undertake any obligation to update any
forward-looking statement to reflect events or circumstances after the date on
which such statement was made.