Exhibit 99
CAROLINA POWER & LIGHT COMPANY
CONSOLIDATED INTERIM FINANCIAL STATEMENTS
June 30, 2002
STATEMENTS OF INCOME
Three Months Ended Six Months Ended
(Unaudited) June 30, June 30,
(In thousands) 2002 2001 2002 2001
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Operating Revenues
Electric $834,658 $782,287 $1,646,139 $1,603,861
Diversified businesses 3,434 1,092 6,823 6,121
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Total Operating Revenues 838,092 783,379 1,652,962 1,609,982
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Operating Expenses
Fuel used in electric generation 173,120 157,672 347,023 311,141
Purchased power 90,918 85,273 164,228 177,202
Other operation and maintenance 191,744 179,434 383,004 348,088
Depreciation and amortization 133,459 139,831 274,844 277,792
Taxes other than on income 36,075 35,822 74,843 74,259
Diversified businesses 2,754 957 5,815 5,470
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Total Operating Expenses 628,070 598,989 1,249,757 1,193,952
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Operating Income 210,022 184,390 403,205 416,030
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Other Income (Expense)
Interest income 3,202 6,340 4,868 11,025
Other, net 4,653 2,536 1,680 11,921
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Total Other Income (Expense) 7,855 8,876 6,548 22,946
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Interest Charges
Gross interest charges 56,255 65,326 117,899 130,180
Allowance for borrowed funds used during
construction (2,779) (1,576) (5,873) (4,349)
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Total Interest Charges, Net 53,476 63,750 112,026 125,831
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Income before Income Taxes 164,401 129,516 297,727 313,145
Income Taxes 33,248 44,637 81,456 107,393
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Net Income 131,153 84,879 216,271 205,752
Preferred Stock Dividend Requirements (741) (741) (1,482) (1,482)
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Earnings for Common Stock $130,412 $ 84,138 $ 214,789 $ 204,270
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Carolina Power & Light Company
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands)
June 30, December 31,
Assets 2002 2001
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Utility Plant
Electric utility plant in service $ 12,054,025 $ 12,024,291
Accumulated depreciation (6,182,956) (5,952,206)
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Utility plant in service, net 5,871,069 6,072,085
Held for future use 7,105 7,105
Construction work in progress 698,156 711,129
Nuclear fuel, net of amortization 172,890 200,332
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Total Utility Plant, Net 6,749,220 6,990,651
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Current Assets
Cash and cash equivalents 11,030 21,250
Accounts receivable 324,860 317,714
Unbilled accounts receivable 150,901 136,514
Receivables from affiliated companies 67,503 27,180
Taxes receivable - 17,543
Inventory 358,763 365,501
Deferred fuel cost 118,748 131,505
Prepayments 28,011 11,863
Other current assets 64,960 66,193
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Total Current Assets 1,124,776 1,095,263
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Deferred Debits and Other Assets
Regulatory assets 263,493 277,550
Nuclear decommissioning trust funds 429,676 416,721
Diversified business property, net 118,630 111,802
Miscellaneous other property and investments 242,807 231,325
Other assets and deferred debits 117,035 135,373
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Total Deferred Debits and Other Assets 1,171,641 1,172,771
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Total Assets $ 9,045,637 $ 9,258,685
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Capitalization and Liabilities
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Capitalization
Common stock $ 1,921,068 $ 1,904,246
Unearned ESOP common stock (104,703) (114,385)
Retained earnings 1,336,831 1,312,641
Accumulated other comprehensive loss (5,156) (7,046)
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Total common stock equity 3,148,040 3,095,456
Preferred stock - not subject to mandatory redemption 59,334 59,334
Long-term debt, net 2,752,181 2,958,853
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Total Capitalization 5,959,555 6,113,643
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Current Liabilities
Current portion of long-term debt 600,000 600,000
Accounts payable 194,039 300,829
Payables to affiliated companies 151,176 106,114
Notes payable affiliated companies 11,539 47,913
Taxes accrued 82,013 -
Interest accrued 65,314 61,124
Other current liabilities 156,702 208,645
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Total Current Liabilities 1,260,783 1,324,625
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Deferred Credits and Other Liabilities
Accumulated deferred income taxes 1,304,892 1,316,823
Accumulated deferred investment tax credits 164,062 170,302
Regulatory liabilities 7,774 7,494
Other liabilities and deferred credits 348,571 325,798
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Total Deferred Credits and Other Liabilities 1,825,299 1,820,417
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Commitments and Contingencies
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Total Capitalization and Liabilities $ 9,045,637 $ 9,258,685
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