SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
---------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 7, 2002
ENRON CORP.
(Exact name of Registrant as specified in charter)
Oregon 1-13159 47-0255140
(State or other jurisdiction (Commission file number) (I.R.S. employer
of incorporation) identification no.)
Enron Building
1400 Smith Street
Houston, Texas 77002
(Address of principal executive offices) (Zip Code)
Registrants' telephone number, including area code: (713) 853-6161
---------------------
Item 5. Other Events.
On June 7, 2002, the Company and certain other
debtor-in-possession subsidiaries of the Company filed their monthly
operating report with the United States Bankruptcy Court for the Southern
District of New York. The monthly operating report is attached as an exhibit
to this Current Report on Form 8-K.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
99.1 Monthly Operating Report of Enron Corp. et al. for January
2002.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
ENRON CORP.
Date: June 7, 2002 By: /s/ Raymond M. Bowen, Jr.
-------------------------------
Name: Raymond M. Bowen, Jr.
Title: Executive Vice President and
Chief Financial Officer
EXHIBIT INDEX
Exhibit Description
99.1 Monthly Operating Report of Enron Corp. et al.
for January 2002.
EXHIBIT 99.1
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
Chapter 11
In re: Enron Corp., et al.,
Debtors Case Nos. 01-16033, through
01-16046, 01-16048, 01-16076,
01-16078, 01-16080, 01-16109 through
01-16111, 01-16280, 01-16319,
01-16428 through 01-16431,
01-16467, 01-16483, 02-10007,
02-10038, 02-10059 through 02-10061,
02-10132, 02-10232, 02-10252,
02-10346
(Jointly Administered)
MONTHLY OPERATING STATEMENT FOR
THE MONTH ENDED JANUARY 31, 2002
DEBTORS' ADDRESS: Enron Corp. et al.
1400 Smith Street
Houston, TX 77002
DEBTORS' ATTORNEY: Weil, Gotshal & Manges LLP
767 Fifth Avenue
New York, NY 10153
REPORT PREPARER: Enron Corp. et al.
THIS OPERATING STATEMENT MUST BE SIGNED
BY A REPRESENTATIVE OF THE DEBTORS
The undersigned, having reviewed the attached report and being
familiar with the Debtors' financial affairs, verifies under penalty of
perjury, that the information contained herein is complete, accurate and
truthful to the best of my knowledge.
The undersigned also verifies that, to the best of my knowledge,
all insurance policies of the Debtors have been paid currently.
DATE: June 7, 2002 By: /s/ Raymond M. Bowen, Jr.
---------------------------------
Name: Raymond M. Bowen, Jr.
Title: Executive Vice President and
Chief Financial Officer
Explanatory Notes
Basis of Presentation of Monthly Operating Report for January 2002
Beginning on December 2, 2001 (the original petition date), Enron Corp.
(the "Company") and certain of its subsidiaries (collectively, the
"Debtors") filed voluntary petitions for reorganization under Chapter 11 of
the United States Bankruptcy Code in the United States Bankruptcy Court for
the Southern District of New York. Additional subsidiaries of the Company
have continued to file since that time. The Debtors continue to manage
their businesses as debtors-in-possession in the ordinary course of
business.
The Company cautions readers not to place undue reliance upon the
information contained in this monthly operating report (the "Operating
Report"). This Operating Report contains unaudited information, and does
not present a balance sheet of the Company. The information is subject to
further review and potential adjustment and may not be indicative of the
Company's financial condition or operating results that would be reflected
in the Company's consolidated financial statements. There can be no
assurance that this Operating Report is complete. Information is presented
only for the Debtors that have filed through January 2002 and therefore
does not include all entities that would be included with the Company's
consolidation. Moreover, the Company undertakes no obligation to update or
revise the Operating Report.
The following analyses are included:
Table 1 -- Cash Activity Rollforward
o Represents cash activity for each debtor, including payments and
receipts made by Enron affiliates on behalf of the debtors.
Excludes checks that were written but have not cleared the bank.
Beginning balance represents filing date.
Table 2 -- Tax Rollforward (Non-Payroll)
o Includes all taxes payable (net of tax refunds receivable) except
those related to payroll. Note that federal and state income taxes
are accrued quarterly.
Table 3 -- Post-Petition Payables Aging - Non-Commodity
o Includes all post-petition payables except those related to
commodity trading.
Table 4 -- Receivables Aging - Non-Commodity
o Includes all trade and other receivables except those related to
commodity trading and tax refunds included in Table 2. The "other"
column represents unbilled receivables and other accounts and
notes receivable that have not been aged.
Table 5 -- Receivables Rollforward - Non-Commodity
o Includes all trade and other receivables except those related to
commodity trading and tax refunds included in Table 2. The "other"
column represents unbilled receivables and other adjustments.
Table 6 -- Commodity Receivables and Payables
o Represents receivables and pre- and post-petition payables related
to commodity trading. Certain of these receivables may be subject
to a right of offset against liabilities to the applicable counter
party.
Table 7 -- Asset Dispositions
o Includes all asset sales closed during the period, including those
made by non-debtor entities. Excludes activity relating to trading
contracts.
Table 1
Enron Debtors
Cash Activity Rollforward
For the Month Ended January 31, 2002
(In Millions)
Beginning 3rd Party 3rd Party
Debtor Company Case No. Cash Receipts Disbursements
- -------------------------------------------------------------------------------------------------------------------
Enron Metals & Commodity Corp. 01-16033 $ 1 $ 16 $ (26)
Enron Corp. 01-16034 352 21 (40)
Enron North America Corp. 01-16035 47 72 (20)
Enron Power Marketing, Inc. 01-16036 - 72 (50)
PBOG Corp. 01-16037 - - -
Smith Street Land Company 01-16038 - - -
Enron Broadband Services, Inc. 01-16039 3 - (2)
Enron Energy Services Operations, Inc. 01-16040 4 5 (14)
Enron Energy Marketing Corp. 01-16041 8 21 (5)
Enron Energy Services, Inc. 01-16042 24 69 (57)
Enron Energy Services, LLC 01-16043 - - -
Enron Transportation Services Company 01-16044 - - -
BAM Leasing Company 01-16045 - - -
ENA Asset Holdings, L.P. 01-16046 1 - -
Enron Gas Liquids, Inc. 01-16048 2 10 (2)
Enron Global Markets LLC 01-16076 - - (2)
Enron Net Works L.L.C. 01-16078 - - (9)
Enron Industrial Markets LLC 01-16080 - - (1)
Operational Energy Corp. 01-16109 - - -
Enron Engineering & Construction Co. 01-16110 4 - (1)
Enron Engineering & Operational
Services Co. 01-16111 - - -
Garden State Paper Company LLC 01-16280 - - -
Palm Beach Development Company, L.L.C. 01-16319 - - -
Tenant Services, Inc. 01-16428 5 2 -
Enron Energy Information
Solutions, Inc. 01-16429 - - -
EESO Merchant Investments, Inc. 01-16430 - - -
Enron Federal Solutions, Inc. 01-16431 - - -
Enron Freight Markets Corp. 01-16467 1 - (1)
Enron Broadband Services, L.P. 01-16483 - - -
Enron Energy Services North America, Inc. 02-10007 - 2 (1)
Enron LNG Marketing LLC 02-10038 - - -
Calypso Pipeline, LLC 02-10059 - - -
Enron Global LNG LLC 02-10060 - - -
Enron International Fuel Management Company 02-10061 - - -
Enron Natural Gas Marketing Corp 02-10132 - - -
ENA Upstream Company LLC 02-10232 - - -
Enron Liquid Fuels, Inc. 02-10252 - 5 -
Enron LNG Shipping Company 02-10346 - - -
----------------------------------------------
Combined Debtor Entities $ 452 $ 295 $(231)
==============================================
Table 1 continued next page
Enron Debtors
Cash Activity Rollforward
For the Month Ended January 31, 2002
(In Millions)
Net Ending
Debtor Company Case No. Intercompany Balance
- -------------------------------------------------------------------------------------------------
Enron Metals & Commodity Corp. 01-16033 $ 9 $ -
Enron Corp. 01-16034 121 454
Enron North America Corp. 01-16035 (92) 7
Enron Power Marketing, Inc. 01-16036 (22) -
PBOG Corp. 01-16037 - -
Smith Street Land Company 01-16038 - -
Enron Broadband Services, Inc. 01-16039 (1) -
Enron Energy Services Operations, Inc. 01-16040 5 -
Enron Energy Marketing Corp. 01-16041 (23) 1
Enron Energy Services, Inc. 01-16042 (34) 2
Enron Energy Services, LLC 01-16043 - -
Enron Transportation Services Company 01-16044 - -
BAM Leasing Company 01-16045 - -
ENA Asset Holdings, L.P. 01-16046 - 1
Enron Gas Liquids, Inc. 01-16048 (10) -
Enron Global Markets LLC 01-16076 2 -
Enron Net Works L.L.C. 01-16078 9 -
Enron Industrial Markets LLC 01-16080 1 -
Operational Energy Corp. 01-16109 - -
Enron Engineering & Construction Co. 01-16110 1 4
Enron Engineering & Operational
Services Co. 01-16111 - -
Garden State Paper Company LLC 01-16280 - -
Palm Beach Development Company, L.L.C. 01-16319 - -
Tenant Services, Inc. 01-16428 - 7
Enron Energy Information
Solutions, Inc. 01-16429 - -
EESO Merchant Investments, Inc. 01-16430 - -
Enron Federal Solutions, Inc. 01-16431 - -
Enron Freight Markets Corp. 01-16467 - -
Enron Broadband Services, L.P. 01-16483 - -
Enron Energy Services North America, Inc. 02-10007 (1) -
Enron LNG Marketing LLC 02-10038 - -
Calypso Pipeline, LLC 02-10059 - -
Enron Global LNG LLC 02-10060 - -
Enron International Fuel Management Company 02-10061 - -
Enron Natural Gas Marketing Corp 02-10132 - -
ENA Upstream Company LLC 02-10232 - -
Enron Liquid Fuels, Inc. 02-10252 (5) -
Enron LNG Shipping Company 02-10346 - -
----------------------------
Combined Debtor Entities $ (40) $ 476
============================
Continued from previous page
Table 2
Enron Debtors
Tax Rollforward (Non-Payroll)
For the Month Ended January 31, 2002
(In Millions)
Beginning (Payments)/ Ending
Debtor Company Case No. Balance Accruals Intercompany Refunds Balance
- ---------------------------------------------------------------------------------------------------------------------------------
Enron Metals & Commodity Corp. 01-16033 $ 1 $ - $ - $ - $ 1
Enron Corp. 01-16034 (55) (1) - 1 (55)
Enron North America Corp. 01-16035 24 - - - 24
Enron Power Marketing, Inc. 01-16036 1 2 - - 3
PBOG Corp. 01-16037 - - - - -
Smith Street Land Company 01-16038 1 - - - 1
Enron Broadband Services, Inc. 01-16039 - - - - -
Enron Energy Services
Operations, Inc. 01-16040 (1) - - - (1)
Enron Energy Marketing Corp. 01-16041 (1) - - - (1)
Enron Energy Services, Inc. 01-16042 13 2 - (2) 13
Enron Energy Services, LLC 01-16043 - - - - -
Enron Transportation
Services Company 01-16044 - - - - -
BAM Leasing Company 01-16045 - - - - -
ENA Asset Holdings, L.P. 01-16046 - - - - -
Enron Gas Liquids, Inc. 01-16048 (1) - - - (1)
Enron Global Markets LLC 01-16076 1 - - - 1
Enron Net Works L.L.C. 01-16078 1 - - - 1
Enron Industrial Markets LLC 01-16080 - - - - -
Operational Energy Corp. 01-16109 - - - - -
Enron Engineering &
Construction Co. 01-16110 - - - - -
Enron Engineering &
Operational Services Co. 01-16111 - - - - -
Garden State Paper Company LLC 01-16280 2 - - - 2
Palm Beach Development
Company, L.L.C. 01-16319 - - - - -
Tenant Services, Inc. 01-16428 - - - - -
Enron Energy Information
Solutions, Inc. 01-16429 - - - - -
EESO Merchant Investments, Inc. 01-16430 - - - - -
Enron Federal Solutions, Inc. 01-16431 - - - - -
Enron Freight Markets Corp. 01-16467 - - - - -
Enron Broadband Services, L.P. 01-16483 - - - - -
Enron Energy Services North
America, Inc. 02-10007 1 - - - 1
Enron LNG Marketing LLC 02-10038 - - - - -
Calypso Pipeline, LLC 02-10059 - - - - -
Enron Global LNG LLC 02-10060 - - - - -
Enron International Fuel
Management Company 02-10061 - - - - -
Enron Natural Gas Marketing Corp 02-10132 3 - - - 3
ENA Upstream Company LLC 02-10232 - - - - -
Enron Liquid Fuels, Inc. 02-10252 (1) - - - (1)
Enron LNG Shipping Company 02-10346 - - - - -
---------------------------------------------------------------------------
Combined Debtor Entities $ (11) $ 3 $ 0 $ (1) $ (9)
===========================================================================
Table 3
Enron Debtors
Post-Petition Payables Aging - Non-Commodity
As of January 31, 2002
(In Millions)
Current
Debtor Company Case No. 1-30 31-60 Total
- --------------------------------------------------------------------------------------------------------------------------------
Enron Metals & Commodity Corp. 01-16033 $ - $ - $ -
Enron Corp. 01-16034 - 24 24
Enron North America Corp. 01-16035 - - -
Enron Power Marketing, Inc. 01-16036 1 - 1
PBOG Corp. 01-16037 - - -
Smith Street Land Company 01-16038 - - -
Enron Broadband Services, Inc. 01-16039 - - -
Enron Energy Services Operations, Inc. 01-16040 - - -
Enron Energy Marketing Corp. 01-16041 - - -
Enron Energy Services, Inc. 01-16042 - - -
Enron Energy Services, LLC 01-16043 - - -
Enron Transportation Services Company 01-16044 - - -
BAM Leasing Company 01-16045 - - -
ENA Asset Holdings, L.P. 01-16046 - - -
Enron Gas Liquids, Inc. 01-16048 - - -
Enron Global Markets LLC 01-16076 - - -
Enron Net Works L.L.C. 01-16078 5 - 5
Enron Industrial Markets LLC 01-16080 - - -
Operational Energy Corp. 01-16109 - - -
Enron Engineering & Construction Co. 01-16110 - 4 4
Enron Engineering & Operational
Services Co. 01-16111 - - -
Garden State Paper Company LLC 01-16280 - - -
Palm Beach Development Company, L.L.C. 01-16319 - - -
Tenant Services, Inc. 01-16428 - - -
Enron Energy Information
Solutions, Inc. 01-16429 - - -
EESO Merchant Investments, Inc. 01-16430 - - -
Enron Federal Solutions, Inc. 01-16431 - - -
Enron Freight Markets Corp. 01-16467 - - -
Enron Broadband Services, L.P. 01-16483 - - -
Enron Energy Services North America, Inc. 02-10007 - 1 1
Enron LNG Marketing LLC 02-10038 - - -
Calypso Pipeline, LLC 02-10059 - - -
Enron Global LNG LLC 02-10060 - - -
Enron International Fuel Management Company 02-10061 - - -
Enron Natural Gas Marketing Corp. 02-10132 - 15 15
ENA Upstream Company LLC 02-10232 - - -
Enron Liquid Fuels, Inc. 02-10252 - - -
Enron LNG Shipping Company 02-10346 - - -
-----------------------------------------------------
Combined Debtor Entities $ 6 $ 44 $50
=====================================================
Table 4
Enron Debtors
Receivables Aging - Non-Commodity
As of January 31, 2002
(In Millions)
Current
Debtor Company Case No. 1-30 31-60 61-90 91+ Other Total
- ------------------------------------------------------------------------------------------------------------------------------
Enron Metals & Commodity Corp. 01-16033 $ - $ - $ - $ - $ 2 $ 2
Enron Corp. 01-16034 4 11 180 135 - 330
Enron North America Corp. 01-16035 23 (39) 19 32 - 35
Enron Power Marketing, Inc. 01-16036 - - - - - -
PBOG Corp. 01-16037 - - - - - -
Smith Street Land Company 01-16038 - - - - - -
Enron Broadband Services, Inc. 01-16039 - 1 - 17 205 223
Enron Energy Services Operations, Inc. 01-16040 - - - - (2) (2)
Enron Energy Marketing Corp. 01-16041 - - - - - -
Enron Energy Services, Inc. 01-16042 - - - - 19 19
Enron Energy Services, LLC 01-16043 - - - - 4 4
Enron Transportation Services Company 01-16044 - - - - 1 1
BAM Leasing Company 01-16045 - - - - - -
ENA Asset Holdings, L.P. 01-16046 - 41 - - - 41
Enron Gas Liquids, Inc. 01-16048 - - - - - -
Enron Global Markets LLC 01-16076 - - - - - -
Enron Net Works L.L.C. 01-16078 - - - 1 2 3
Enron Industrial Markets LLC 01-16080 - - - - - -
Operational Energy Corp. 01-16109 - - - 1 - 1
Enron Engineering & Construction Co. 01-16110 1 - - 4 - 5
Enron Engineering & Operational
Services Co. 01-16111 - - - - - -
Garden State Paper Company LLC 01-16280 - - - - 7 7
Palm Beach Development Company, L.L.C. 01-16319 - - - - - -
Tenant Services, Inc. 01-16428 - - - - - -
Enron Energy Information
Solutions, Inc. 01-16429 - - - 1 - 1
EESO Merchant Investments, Inc. 01-16430 - - - - - -
Enron Federal Solutions, Inc. 01-16431 - - - - 5 5
Enron Freight Markets Corp. 01-16467 - - - - - -
Enron Broadband Services, L.P. 01-16483 - - 1 2 - 3
Enron Energy Services North America, Inc. 02-10007 - 1 1 9 (2) 9
Enron LNG Marketing LLC 02-10038 - - - - - -
Calypso Pipeline, LLC 02-10059 - - - - - -
Enron Global LNG LLC 02-10060 - - - - - -
Enron International Fuel Management Company 02-10061 - - - - - -
Enron Natural Gas Marketing Corp. 02-10132 - - - - - -
ENA Upstream Company LLC 02-10232 - - - - - -
Enron Liquid Fuels, Inc. 02-10252 - - - - - -
Enron LNG Shipping Company 02-10346 - - - - - -
------------------------------------------------------------
Combined Debtor Entities $28 $ 15 $201 $ 202 $241 $687
============================================================
Table 5
Enron Debtors
Receivables Rollforward - Non-Commodity
For the Month Ended January 31, 2002
(In Millions)
Beginning Payments Other Ending
Debtor Company Case No. Balance Billings Received Adjustments Balance
- --------------------------------------------------------------------------------------------------------------------------------
Enron Metals & Commodity Corp. 01-16033 $ 2 $ - $ - $ - $ 2
Enron Corp. 01-16034 190 11 (18) 147 330
Enron North America Corp. 01-16035 36 2 - (3) 35
Enron Power Marketing, Inc. 01-16036 (2) - - 2 -
PBOG Corp. 01-16037 - - - - -
Smith Street Land Company 01-16038 - - - - -
Enron Broadband Services, Inc. 01-16039 3 - - 220 223
Enron Energy Services Operations, Inc. 01-16040 (7) - - 5 (2)
Enron Energy Marketing Corp. 01-16041 - - - - -
Enron Energy Services, Inc. 01-16042 19 - - - 19
Enron Energy Services, LLC 01-16043 4 - - - 4
Enron Transportation Services Company 01-16044 1 - - - 1
BAM Leasing Company 01-16045 - - - - -
ENA Asset Holdings, L.P. 01-16046 41 - - - 41
Enron Gas Liquids, Inc. 01-16048 - - - - -
Enron Global Markets LLC 01-16076 - - - - -
Enron Net Works L.L.C. 01-16078 2 - - 1 3
Enron Industrial Markets LLC 01-16080 - - - - -
Operational Energy Corp. 01-16109 1 - - - 1
Enron Engineering & Construction Co. 01-16110 5 - - - 5
Enron Engineering & Operational
Services Co. 01-16111 - - - - -
Garden State Paper Company LLC 01-16280 8 - - (1) 7
Palm Beach Development Company, L.L.C. 01-16319 - - - - -
Tenant Services, Inc. 01-16428 - - - - -
Enron Energy Information
Solutions, Inc. 01-16429 - - - 1 1
EESO Merchant Investments, Inc. 01-16430 - - - - -
Enron Federal Solutions, Inc. 01-16431 5 - - - 5
Enron Freight Markets Corp. 01-16467 - - - - -
Enron Broadband Services, L.P. 01-16483 - 2 - 1 3
Enron Energy Services North America, Inc. 02-10007 11 - (2) - 9
Enron LNG Marketing LLC 02-10038 - - - - -
Calypso Pipeline, LLC 02-10059 - - - - -
Enron Global LNG LLC 02-10060 - - - - -
Enron International Fuel Management Company 02-10061 - - - - -
Enron Natural Gas Marketing Corp. 02-10132 - - - - -
ENA Upstream Company LLC 02-10232 - - - - -
Enron Liquid Fuels, Inc. 02-10252 - - - - -
Enron LNG Shipping Company 02-10346 - - - - -
-----------------------------------------------------------------
Combined Debtor Entities $ 319 $ 15 $ (20) $ 373 $ 687
=================================================================
Table 6
Enron Debtors
Commodity Receivables and Payables
As of January 31, 2002
(In Millions)
Debtor Company Case No. Receivables Payables
- ----------------------------------------------------------------------------------------------------------
Enron Metals & Commodity Corp. 01-16033 $ 34 $ 12
Enron Corp. 01-16034 - -
Enron North America Corp. 01-16035 2,751 3,298
Enron Power Marketing, Inc. 01-16036 460 648
PBOG Corp. 01-16037 - -
Smith Street Land Company 01-16038 - -
Enron Broadband Services, Inc. 01-16039 - -
Enron Energy Services Operations, Inc. 01-16040 161 147
Enron Energy Marketing Corp. 01-16041 218 32
Enron Energy Services, Inc. 01-16042 716 206
Enron Energy Services, LLC 01-16043 - -
Enron Transportation Services Company 01-16044 - -
BAM Leasing Company 01-16045 - -
ENA Asset Holdings, L.P. 01-16046 - -
Enron Gas Liquids, Inc. 01-16048 29 45
Enron Global Markets LLC 01-16076 - -
Enron Net Works L.L.C. 01-16078 - -
Enron Industrial Markets LLC 01-16080 - -
Operational Energy Corp. 01-16109 - -
Enron Engineering & Construction Co. 01-16110 - -
Enron Engineering & Operational
Services Co. 01-16111 - -
Garden State Paper Company LLC 01-16280 - 1
Palm Beach Development Company, L.L.C. 01-16319 - -
Tenant Services, Inc. 01-16428 (6) 22
Enron Energy Information
Solutions, Inc. 01-16429 - -
EESO Merchant Investments, Inc. 01-16430 - -
Enron Federal Solutions, Inc. 01-16431 - -
Enron Freight Markets Corp. 01-16467 6 4
Enron Broadband Services, L.P. 01-16483 - -
Enron Energy Services North America, Inc. 02-10007 - -
Enron LNG Marketing LLC 02-10038 - -
Calypso Pipeline, LLC 02-10059 - -
Enron Global LNG LLC 02-10060 - -
Enron International Fuel Management Company 02-10061 - -
Enron Natural Gas Marketing Corp. 02-10132 - -
ENA Upstream Company LLC 02-10232 31 76
Enron Liquid Fuels, Inc. 02-10252 21 26
Enron LNG Shipping Company 02-10346 2 -
-----------------------------
Combined Debtor Entities $ 4,423 $4,517
=============================
Table 7
Enron Entities
Asset Dispositions
For the Month Ended January 31, 2002
(In Millions)
Asset Book
Company Date Closed Description Value Proceeds
- ---------------------------------------------------------------------------------------------------------------------------------
Debtor Companies
None
Non-Debtor Companies
CGNN Holding Company, Inc. 01/31/2002 Membership interest in MCTJ
Holdings LLC, indirect parent
of Northern Natural Gas Company $ (569) $62